Global Polycytomia Vera Market – Industry Trends and Forecast to 2029

Polycytomia Vera Market Analysis and Size

The global polycytomia vera market is expected to witness significant growth during the forecast period. Polycythemia vera is considered when the hematocrit reaches more than 48% in women and 52% in men while haemoglobin level of greater than 16.5g/Dl in women and 18.5g/Dl in men. Global polycythemia treatment market is growing promptly because of the increasing number of cases. The treatment may include phlebotomy and drug therapy. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global polycytomia vera market in the forecast period 2022-2029. The expected CAGR of global polycytomia vera market is tend to be around 5% in the mentioned forecast period. The market was valued at USD 1115.9 million in 2021, and it would grow upto USD 1648.69 million by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Polycytomia Vera Market Scope and Segmentation

Market Definition

Polycythemia vera is a rare type of blood cancer that initiates in the bone marrow. In this disease, the bone marrow produces too many red blood cells that can lead to blood clots because of thickening of the blood. Polycythemia vera includes symptoms such as headache, weakness, dizziness, double vision, shortness of breathing, and sweating usually during the night.  Polycythemia vera worsens with time if it remains undiagnosed and can be life-threatening. This condition can be treatable but cannot be curable. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period.

Global Polycytomia Vera Market Dynamics

Drivers

• Increase in Polycythemia vera

As per the article in journal of Multidisciplinary Digital Publishing Institute (MDPI) in July 2020, the projected annual occurrence rates for polycythemia vera (PV), essential thrombocythemia (ET), and primary myelofibrosis are 0.84, 1.03, and 0.47 per 100,000 population globally and the incidence is much higher, mainly for PV and ET, as death rates are relatively low worldwide. This boost the market growth.

• Higher Approvals From Regulatory Bodies

Growing approvals of novel products is projected to boost the market growth during the forecast period. For instance, in February 2016, Health Canada approved Jakavi for the control of hematocrit in adult patients who are polycythemia vera (PV) resistant to or intolerant of a cytoreductive agent. Jakavi is the first targeted treatment which is approved for this kind of blood cancer.

Opportunities

• Increased R&D Activities

Major players operating in the market are directing on submitting application for the approval of drugs therapy for the treatment of polycythemia vera, which is anticipated to boost the growth of the global polycythemia vera therapeutics market over the forecast period. For instance, in May 2021, PharmaEssentia USA Corporation, announced the resubmission of its Biologics License Application (BLA) to the U.S. FDA, pursuing approval for ropeginterferon alfa-2b-njft for the treatment of polycythemia vera (PV). The resubmission follows receipt of a complete response letter in March 2021, wherein the U.S. FDA sought additional information regarding the administration format with the product. This creates more opportunity for the market growth.

• Higher Indulgence of Immunotherapy

The segment of immunotherapy is projected to gain further attraction during the forecast period. Immunotherapeutics tend to have less adverse effects when compared to chemotherapeutics. Non-specificity, toxic side effects, and development of resistance associated with chemotherapy are most likely to suppress the growth of chemotherapeutics and boost the adoption of immunotherapeutics and other targeted treatments. This creates more opportunity in the market.

Restraints/Challenges

• Lack of Skilled Professionals

Lack of trained professionals who are not aware of the appropriate treatment methods for this disease could restrain the growth of the global polycytomia vera market over a forecast period.

• Extremely High Cost of Drugs

The huge expenditure of the treatment methods such as immunotherapy, chemotherapy, medications are surely hamper the market growth.

This global polycytomia vera 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 polycytomia vera market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Polycytomia Vera Market

During this Covid-19 pandemic, pharmaceutical business, clinical tool companies and biotechnology firms are facing complications that are happening from the interruption in supply chains and the demand to transform service processes. Suppose Covid-19 pandemic continues for a medium/long duration. In that case, it may effect the supply of product and also active ingredients around the world along with the import as well as export of drugs. There has been a disruption in the treatment market. As coronavirus has actually ended up being the major importance on polycythemia vera therapeutics and all study institutes, biotech as well as pharmaceutical companies are selected in cooperation job to manage Covid-19, who are previously engaged in R&D of therapeutics for the treatment of polycythemia vera.

Global Polycytomia Vera Market Scope

The global polycytomia vera market is segmented on the basis of drug class, 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.

Drug Class

• Antimetabolite
• 6-mercaptopurine
• Fludarabine
• 5-fluorouracil
• Kinase Inhibitors
• Bosutinib
• Crizotinib
• Dasatinib
• Alpha Interferon
• Antivirus Agent
• Protein
• Ribavirin
• Selective Serotonin Reuptake Inhibitors
• Citalopram
• Dapoxetine (Priligy)
• Escitalopram
• Others

Treatment Type

• Myelosuppressive Drugs
• Chemotherapy
• Others

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Homecare
• Speciality Centres
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Polycytomia Vera Market Regional Analysis/Insights

The global polycytomia vera market is analysed and market size insights and trends are provided by drug class, treatment type, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global polycytomia vera 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.

North America is expected to have the highest market growth due to the increased incidence of polycytomia vera, high demand of targeted therapies and advanced healthcare facilities.

Asia-Pacific dominates the market due to the increased awareness about diseases 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 Polycytomia Vera Market Share Analysis

The global polycytomia vera 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 polycytomia vera market.

Key players operating in the global polycytomia vera market include:

• Cipla Inc. (U.S.)
• Abbott (U.S.)
• AbbVie Inc. (U.S.)
• Merck KGaA (Germany)
• Sun Pharmaceutical Industries Ltd. (India)
• Aurobindo Pharma (India)
• Lupin (India)
• Hikma Pharmaceuticals PLC (U.K.)
• Amneal Pharmaceuticals LLC. (U.S.)
• Pfizer Inc (U.S.)
• Mylan N.V. (U.S.)
• Bristol-Myers Squibb Company (U.S.)
• GSK plc. (U.K.)
• Bayer AG (Germany)
• Otsuka America Pharmaceutical, Inc (Japan)
• Teva Pharmaceutical Industries Ltd (Israel)
• Gilead Sciences, Inc (U.S.)

SKU-54323