Mirvetuximab Soravtansine Market
Number of pages: 100 | Report Format: PDF | Published date: May 25, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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CAGR |
17.8% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Indication, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global mirvetuximab soravtansine market is expected to register a revenue CAGR of 17.8% from 2023 to 2031.
Mirvetuximab Soravtansine Market Fundamentals
Mirvetuximab soravtansine, also known by its brand name Elahere, is developed to treat certain types of cancer, primarily ovarian cancer. Mirvetuximab soravtansine is developed to target a protein called folate receptor alpha (FRα), found on the surface of certain cancer cells, including ovarian cancer cells. FRα is overexpressed in approximately 80% of ovarian cancers, making it an attractive target for therapy. The drug consists of an antibody, mirvetuximab, which specifically binds to FRα, and a cytotoxic agent, soravtansine, attached to the antibody. When the antibody binds to FRα on cancer cells, the entire complex is internalized by the cancer cell, releasing the cytotoxic agent, which then kills the cancer cell.
Mirvetuximab Soravtansine Market Dynamics
The rapidly growing prevalence of ovarian cancer among women across the globe is a major driving factor in the growth of the global mirvetuximab soravtansine market. According to the 2022 “NIH report”, 2020 there were 313,959 new cases of ovarian cancer worldwide, with an age-standardized rate (ASR) incidence of 6.6 per 100,000 people. Central and Eastern Europe had the greatest occurrence (ASR = 10.7), followed by Northern Europe (ASR = 8.8), North America (ASR = 8.1), and South East Asia (ASR = 8.1). Central Africa (ASR = 4.4), and Southern Africa (ASR = 4.9) had the lowest prevalence. The most prevalent incidence of ovarian cancer was reported in high-income nations (ASR = 8.0), followed by upper-middle-income (ASR = 6.3), low-middle-income (ASR = 6.1), and low-income (ASR = 5.3) countries. Ovarian cancer is a challenging disease to treat, and there is a need for new and effective therapies. Mirvetuximab soravtansine, with its specific targeting of folate receptor alpha (FRα), has the potential to provide a targeted treatment option for patients with FRα-positive ovarian cancer. Combining mirvetuximab soravtansine with other treatment modalities, such as chemotherapy or immunotherapy, can also offer synergistic effects and improved outcomes. There is a growing interest in combination therapies in oncology, and mirvetuximab soravtansine can be explored in combination with other agents, either in clinical trials or real-world practice, to enhance treatment efficacy and broaden its market potential. While the initial focus of mirvetuximab soravtansine is on ovarian cancer, the drug's mechanism of action and FRα targeting may have relevance in other cancer types that overexpress FRα. As the access to healthcare and cancer treatment options improves in emerging markets, there may be increasing demand for innovative therapies like mirvetuximab soravtansine. These markets often have a significant burden of ovarian cancer and fallopian cancer and may present opportunities for market expansion and growth. For instance, according to the “UCSF Health” article, approximately 1,500 to 2,000 cases of fallopian tube cancer have been recorded globally. Around 300 to 400 women are diagnosed with the condition annually in the United States. Mirvetuximab soravtansine's targeted approach aligns with the principles of personalized medicine. As precision medicine becomes more prominent, there may be increased demand for therapies tailored to specific patient populations based on biomarker expression.
However, the field of ovarian cancer treatment is competitive, with several established therapies and other investigational drugs in development. Additionally, pricing and reimbursement considerations can significantly impact market access and adoption. Oncology drugs, particularly innovative therapies like mirvetuximab soravtansine, often come with high costs. Securing favorable reimbursement from healthcare systems, insurers, and other payers will be critical to ensure broader patient access and market success. Developing a robust and scalable manufacturing process for mirvetuximab soravtansine and ensuring a consistent and reliable supply can be challenging. Meeting the potential market demand, maintaining product quality, and avoiding supply shortages or disruptions are important factors to address for commercial success. Mirvetuximab soravtansine needs to obtain regulatory approvals from relevant authorities, such as the FDA in the United States or the EMA in Europe, to enter the market. The regulatory process can be time-consuming and complex, requiring rigorous evaluation of clinical data and adherence to regulatory guidelines. Delays or regulatory setbacks can impact the drug's timeline for commercialization. While targeted therapies like mirvetuximab soravtansine aim to minimize off-target toxicity, safety remains critical. Managing and monitoring potential adverse events and ensuring an acceptable safety profile will be crucial for gaining physician and patient confidence in the therapy. Adopting new therapies in clinical practice can be influenced by various factors, including physician familiarity and comfort, treatment guidelines, clinical evidence, and patient access. Building awareness and understanding among healthcare professionals and gaining acceptance in treatment protocols can be challenging during the early stages of market entry.
Mirvetuximab Soravtansine Market Ecosystem
The global mirvetuximab soravtansine market has been analyzed from the following perspectives: indication, distribution channel, and region.
Mirvetuximab Soravtansine Market by Indication
Based on the indication, the global mirvetuximab soravtansine market can be further segmented into epithelial ovarian cancer, fallopian tube carcinoma, and primary peritoneal cancer.
Ovarian cancer dominates the global mirvetuximab soravtansine market primarily because mirvetuximab soravtansine is being developed as a targeted therapy specifically for ovarian cancer treatment. Ovarian cancer is one of the most common gynecological cancers globally and ranks seventh most common among women. It has a significant disease burden, and there is a pressing need for effective treatment options. Ovarian cancer is often diagnosed at advanced stages when the disease has spread beyond the ovaries. The standard treatment includes surgery and chemotherapy, but the prognosis for advanced-stage ovarian cancer remains poor. There is a clear need for new therapies that can improve outcomes and provide enhanced and improvised treatment options, especially for patients who have relapsed or become resistant to standard treatments. By specifically targeting FRα, mirvetuximab soravtansine aims to deliver its cytotoxic payload directly to the cancer cells, potentially enhancing its efficacy and reducing off-target toxicity. Ovarian cancer is associated with high mortality rates, particularly in advanced stages. Despite advancements in treatment, the prognosis for recurrent or resistant ovarian cancer remains challenging. There is a significant unmet medical need for effective therapies to improve patient outcomes, prolong survival, and provide a better quality of life.
Mirvetuximab Soravtansine Market by Distribution Channel
Based on the distribution channel, the global mirvetuximab soravtansine market can be further segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
Hospital pharmacies have pharmacists and pharmacy technicians who specialize in the management and dispensing of medications for complex diseases. Mirvetuximab soravtansine is a targeted therapy that requires specialized knowledge and handling, and hospital pharmacists are well-equipped to handle such medications. Hospital pharmacies are an integral part of the patient care range within a hospital setting. They work closely with physicians, nurses, and other healthcare professionals to ensure patients receive the necessary medications and therapies. As mirvetuximab soravtansine is likely administered in a hospital or clinical setting, hospital pharmacies are well-positioned to provide seamless care and support. Certain medications, including ADCs like mirvetuximab soravtansine, may have specific storage and handling requirements due to their chemical properties and stability. Hospital pharmacies are equipped with the necessary infrastructure, such as refrigeration systems or specialized storage areas, to ensure the proper storage and handling of such medications. Hospital pharmacies are subject to stringent regulatory requirements and quality control standards. These standards help ensure medication safety, efficacy, and proper use, including Mirvetuximab soravtansine. Hospital pharmacies are well-versed in adhering to these regulatory guidelines, which may contribute to their dominant presence in the market.
Mirvetuximab Soravtansine Market by Region
Based on the region, the global mirvetuximab soravtansine market can be further segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America accounts for sizeable revenue shares in the global market, primarily due to growing incidences of fallopian tube and ovarian cancer. For instance, according to “The American Cancer Society” report, in 2023, in the U.S., it is estimated that approximately nearly 19,710 women can be diagnosed with ovarian cancer with an around 13,270 mortality rate. North America is known for its advanced healthcare infrastructure, including a well-developed healthcare system, research facilities, and specialized cancer treatment centers. This infrastructure facilitates the development, production, and distribution innovative cancer therapies like mirvetuximab soravtansine. North America is a hub for pharmaceutical research and development. The region has a strong network of academic institutions, biotech companies, and pharmaceutical companies that actively engage in developing and clinical trials of novel cancer therapies. This focus on R&D can contribute to the availability and dominance of mirvetuximab soravtansine in the North American market. North America has a high cancer incidence and a significant patient population needing advanced cancer therapies. The demand for innovative treatments drives pharmaceutical companies to focus on the North American market, potentially leading to a dominant position for Mirvetuximab soravtansine. North America has a relatively high healthcare expenditure compared to other regions. This increased healthcare spending can support the availability and accessibility of expensive therapies like Mirvetuximab soravtansine, potentially contributing to its dominance in the market.
Competitive Landscape
The prominent player operating in the global mirvetuximab soravtansine market are:
Strategic Development
The global mirvetuximab soravtansine market is estimated to grow at a revenue CAGR of 17.8% from 2023 to 2031.
Mirvetuximab soravtansine is a folate receptor alpha-directed antibody and microtubule inhibitor conjugate used to treat folate receptor alpha-positive, epithelial ovarian, fallopian tube, and primary peritoneal cancer.
The key player operating in the global mirvetuximab soravtansine market is ImmunoGen Inc.
The ovarian cancer segment dominated the global mirvetuximab soravtansine market.
The growing ovarian cancer and fallopian tube carcinoma cases are the major driving factor of the global mirvetuximab soravtansine market.
*Insights on financial performance are subject to the availability of information in the public domain