Global Myeloproliferative Disorders Drugs Market – Industry Trends and Forecast to 2029

Global Myeloproliferative Disorders Drugs Market, By Type (Philadelphia Chromosome–Negative Myeloproliferative Neoplasms, Philadelphia Chromosome–Positive Chronic Myeloid Leukemia), 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.

Myeloproliferative Disorders Drugs Market Analysis and Size

The myeloproliferative disorders drugs market is expected to witness significant growth during the forecast period. The U.S. dominated played at the forefront of the seven major markets. The wide availability of novel drugs combined with the presence of a strong pipeline is one of the major trends fuelling market growth. The prevalence rates of myeloproliferative disorders are the highest in North America and Western Europe and the lowest in East-Asian countries. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the myeloproliferative disorders drugs market in the forecast period 2022-2029. The expected CAGR of myeloproliferative disorders drugs market is tend to be around 3.50% in the mentioned forecast period. The market was valued at USD 8.50 billion in 2021, and it would grow upto USD 11.19 billion 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.

Myeloproliferative Disorders Drugs Market Scope and Segmentation

Market Definition

Myeloproliferative disorders are the type of haematological disorders of bone marrow and blood. In this disease,  abnormal cells grow from the bone marrow. It occurs when scar tissue gathers inside the bone marrow which results in insufficient production of the blood cells. There are numerous types of myeloproliferative neoplasmsnamely chronic myelogenous leukemia, polycythemia vera, essential thrombocythemia, and others. These conditions are developed slowly over a period of time, and most of the people are diagnosed after the age of 60 years.

Global Myeloproliferative Disorders Drugs Market Dynamics

Drivers

• Increased Awareness Associated With Chemotherapy

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 that targets overactive JAK pathway signalling, which plays a main role in developing 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.

• Increasing Incidence in Elderly Population

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, eligible treatment 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

• Rising R&D and New Drug Approvals

The unmet needs of patients who are suffering from myelofibrosis are encouraging manufacturers to innovate new solutions. The increasing investments in the R&D 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 contribute to industry growth. Several other factors such as improved healthcare sector, reimbursement policies, favourable government initiatives, busy lifestyle and changing dietary patterns are also leading to  the industry growth.   

• Increasing Collaborations and Market Expansion

Some of the bulging companies operating in the market are Novartis, Pfizer, Takeda, Incyte, Bristol-Myers Squibb,  and Teva. Collaborations for development, broader product portfolios, and regional expansion in developing markets are the major strategic undertakings of these market players to increase their market share. Thus, these factors are growing the market.

 Restraints/Challenges

• Lack of Awareness

The lack of awareness about these disorders and the unavailability of numerous awareness programs hamper the market growth. The available drugs have not shown disease-modifying activity and are still mostly inadequate for managing major unmet needs.

• High Cost

The huge expenditure associated with these agents hamper the market growth. The huge drug development and associated processes hamper the market's growth.

This global myeloproliferative disorders drugs 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 myeloproliferative disorders drugs 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

• In April 2020, Janssen Pharmaceutical Company which is a subsidiary of Johnson & Johnson, received the U.S. FDA approval for IMBRUVICA (ibrutinib) combined with rituximab used for the treatment of patients with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL).

Global Myeloproliferative Disorders Drugs Market Scope

The global myeloproliferative disorders drugs market is segmented on the basis of type, 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.

Type

• Philadelphia Chromosome–Negative Myeloproliferative Neoplasms
• Philadelphia Chromosome–Positive Chronic Myeloid Leukemia

Treatment Type

• Chemotherapy
• Targeted Therapy
• Others

Route of Administration

• Oral
• Parenteral
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

 Myeloproliferative Disorders Drugs Market Regional Analysis/Insights

The global myeloproliferative disorders drugs market is analyzed and market size insights and trends are provided by type, treatment type, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global myeloproliferative disorders drugs 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 myeloproliferative disorders drugs market throughout the forecasted period due to the increased prevalence of myeloproliferative disorders, high demand for targeted therapies, and advanced healthcare facilities

North America dominates the market due to increasing disease awareness and rapidly disposable income.

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.   

Competitive Landscape and Global Myeloproliferative Disorders Drugs Market Share Analysis

The global myeloproliferative disorders drugs 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 myeloproliferative disorders drugs market.

Key players operating in the global myeloproliferative disorders drugs market include:

• Pfizer Inc (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Mylan N.V. (U.S.)
• Fresenius Kabi AG (Germany)
• Hikma Pharmaceuticals PLC (U.K.)
• 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)