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Market Size in USD Billion
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USD 560.00 Million |
| USD 766.40 Million | |
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Global Myelofibrosis (MF) Market, By Treatment Type (Targeted Therapy, Chemotherapy, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.
The global myelofibrosis (MF) market is expected to witness significant growth during the forecast period. Different therapies in development for myelofibrosis focus on a widespread variety of targets. The majority of the pipeline drugs are administered through the oral route. Novartis has the maximum number of completed clinical trials for myelofibrosis, with 15 trials. It has been said that no drug therapy can cure myelofibrosis. The only likely cure for myelofibrosis is allogeneic stem cell transplantation, but this process is risky for older patients and those with other health problems. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global myelofibrosis (MF) market in the forecast period 2022-2029. The expected CAGR of global myelofibrosis (MF) market is tend to be around 4% in the mentioned forecast period. The market was valued at USD 560 million in 2021, and it would grow upto USD 766.40 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Treatment Type (Targeted Therapy, Chemotherapy, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Pfizer Inc (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Mylan N.V. (U.S.), Fresenius Kabi AG (Germany), Hikma Pharmaceuticals PLC (Japan), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Bristol Myers Squibb Company (U.S.) GSK Plc. (U.K.), Bayer AG (Germany), Sun Pharmaceutical Industries Ltd (India), Boehringer Ingelheim International Gmbh (Germany), Sanofi (France)
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Market Opportunities
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Market Definition
Myelofibrosis (MF) is type of haematological cancer and subtype of myeloproliferative disorders. In this disease, cancer arises from the bone marrow. It is occurred when scar tissue gathers inside the bone marrow which results in insufficient production of the blood cells. Typical clinical features in myelofibrosis include hepatosplenomegaly, anemia, and other symptoms includes low-grade fever, fatigue, night sweats, and progressive cachexia with loss of muscle mass, bone pain, pruritus, nonhepatosplenic EMH, splenic infarct, thrombosis, and bleeding.
Drivers
The market growth can be attributed to the wide availability of agents required for chemotherapy and the approval of Ruxolitinib (Jakafi) by the US FDA. It is a JAK1 and JAK2 inhibitor which targets overactive JAK pathway signalling, that plays a main role in the development of myelofibrosis. Presently, Ruxolitinib is the only FDA-approved chemotherapeutic agent for the treatment of myelofibrosis, which in return is boosting the demand for this drug and assisting the growth of the segment.
Myelofibrosis cases are mostly witnessed in the age group ≤ 40 years, 41−60 years, and > 60 years. The >60 years group saw highest number of patients mostly around 10,275 in 2021 in the U.S. In 2021, treatment eligible population of myelofibrosis accounted for 9,511 cases in the U.S. Thus, this elderly population with higher chances of getting this disease boosts the market growth.
Opportunities
The unmet needs of patients suffering from myelofibrosis are encouraging manufacturers to innovate new solutions. The rising investments in the research and development activities to develop a precise treatment for myelofibrosis is anticipated to boost the growth of the industry in the forecast period. The speedy technological advancements and ongoing clinical trials are contributing to the industry growth. Other factors such as improved healthcare sector, reimbursement policies, favourable government initiatives, busy lifestyle and changing dietary patterns are also resulting in the industry growth.
For most people suffering from myelofibrosis, the treatment mostly aims to control disease symptoms and complications, augment the quality of life, and extend survival. For patients having low-risk symptoms, treatment options includes Ruxolitinib (Jakafi), Interferon alfa, although the best use of these treatments may be in a clinical trial, and Hydroxyurea (Hydrea). Patients with intermediate and high-risk treatment include Pacritinib, Ruxolitinib, Fedratinib, and allogeneic stem cell transplantation.
Restraints/Challenges
The lack of awareness about the diseased condition and the unavailability of several awareness programs restrict the market growth.
The huge expenditure associated with these agents surely hamper the market growth. The huge drug development and associated processes hamper the market's growth.
This global myelofibrosis (MF) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global myelofibrosis (MF) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
The global myelofibrosis (MF) market is segmented on the basis of treatment type, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Treatment Type
Route of Administration
End User
Distribution Channel
The global myelofibrosis (MF) market is analysed and market size insights and trends are provided by treatment type, route of administration, distribution channel and end-user as referenced above.
The major countries covered in the global myelofibrosis (MF) market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific has been witnessing positive growth for global myelofibrosis (MF) market throughout the forecasted period due to the increased awareness about the diseases and rapidly disposable income.
North America dominates the market due to the increase prevalence of myelofibrosis (MF), high demand of targeted therapies and advanced healthcare facilities.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The global myelofibrosis (MF) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global myelofibrosis (MF) market.
Key players operating in the global myelofibrosis (MF) market include:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.