Idiopathic Thrombocytopenic Purpura Therapeutics Market Outlook 2031:
The global idiopathic thrombocytopenic purpura therapeutics market size was valued at USD 2.29 Billion in 2022 and is projected to reach USD 5.40 Billion by 2031, expanding at a CAGR of 10% during the forecast period 2023 - 2031. The growth of the market is attributed to the presence of favorable government initiatives and regulations.
Idiopathic thrombocytopenic purpura (ITP) is a condition of low levels of platelets in the body due to excessive bleeding. The U.S. Food and Drug Administration (FDA) has declared that the disease have incidence rate of 3.3 cases per 100,000 in the country. As per the reports of European Medicines Agency, in Europe, the incidence rate is from 1.6 to 3.9 cases per 100,000 per year.
One of the key aspects of the ITP therapeutics market is the presence of favorable government regulations and initiatives across several countries. For instance, the Orphan Drug Regulation, Japan, and Orphan Drug Act, the U.S. are two regulations that have several potential for commercialization of new drugs, which is expected to positively influence the market. Avatrombopag has resulted in positive clinical trial and is expected to provide patients with an alternative second line of treatment.
As per several reports related to clinical trials, the combination therapies have relatively lower side effects and are cost-effective besides having a higher positive response from patients. Some of the common combination therapies include rituximab and dexamethasone, corticosteroids and IVIG, and dexamethasone. Splenectomy and TPO-RA play an important role in shaping the dynamics of the ITP therapeutics market. The method is a removal of spleen and is focused at decreasing the amount of anti-platelet antibodies.
Idiopathic Thrombocytopenic Purpura Therapeutics Market Trends, Drivers, Restraints, and Opportunities
- High occurrence of road accidents and extreme activities that often result to cause excessive bleeding is expected to propel the market growth in the coming years.
- Wide commercialization of innovative products related to the treatment of the disorder is expected to boost the market growth during the forecast period.
- Development of innovative therapy technique especially in the combination therapies is expected to accelerate the growth of the market in the coming years.
- Increasing R&D activities globally and healthcare expenditure is expected to offer lucrative opportunities for fueling the market growth in the long run.
Scope of the Idiopathic Thrombocytopenic Purpura Therapeutics Market Report
The report on the global idiopathic thrombocytopenic purpura therapeutics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Idiopathic Thrombocytopenic Purpura Therapeutics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (TPO-RA, Intravenous Immunoglobulin, Corticosteroids, Anti-D Immunoglobulin, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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F. Hoffmann-La Roche AG; Amgen Inc.; Grifols Biologicals Inc.; and GlaxoSmithKline Plc.
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Idiopathic Thrombocytopenic Purpura Therapeutics Market Segment Insights
Corticosteroids segment is expected to grow at a robust pace
Based on products, the global idiopathic thrombocytopenic purpura therapeutics market is divided into TPO-RA, intravenous immunoglobulin, corticosteroids, anti-d immunoglobulin, and others.
The corticosteroids segment accounted for a key share of the market in 2019 and is expected to grow at a robust pace during the projected period as these are frequently used as the first line of therapy in patients. Meanwhile, the TPO-RA segment is anticipated to exhibit a high CAGR during the forecast period owing to high adoption rates by patients.
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to constitute a key share of the market in the coming years owing to increasing incidence rates, presence of high treatment rates, funding programs, and favorable government initiatives in the region.
The market of Asia Pacific, on the other hand, is anticipated to grow at a significant growth rate during the forecast period due to large presence of untapped opportunities in the region.
Segments
The global idiopathic thrombocytopenic purpura therapeutics market has been segmented on the basis of
Products
- TPO-RA
- Intravenous Immunoglobulin
- Corticosteroids
- Anti-D Immunoglobulin
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global idiopathic thrombocytopenic purpura therapeutics market are F. Hoffmann-La Roche AG; Amgen Inc.; Grifols Biologicals Inc.; and GlaxoSmithKline Plc.
The main market players are continuously engaged in various business operational activities such as mergers and acquisitions, research and developments, investments for innovative products, and collaborations to enhance their consumer base globally.
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