Myeloproliferative Disorders Drugs Market

Myeloproliferative Disorders Drugs Market Outlook 2031

The global myeloproliferative disorders drugs market size was valued at USD 8.69 Billion in 2022 and is anticipated to reach USD 11.74 Billion by 2031, expanding at a CAGR of 3.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increased awareness of myeloproliferative disorders worldwide as well as early diagnosis along with the rise in focus on research and development activities by key players.

Hematological abnormalities of the bone marrow and blood cells are known as myeloproliferative disorders. It occurs when scar tissue builds up inside the bone marrow, resulting in inadequate blood cell production. The existing medications are not sufficient for disease-modifying activity and they are still inadequate for addressing significant unmet requirements such as preventing haematological progression and reducing cardiovascular consequences.

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Rising unmet market needs present a significant opportunity to produce ground-breaking first-in-class medicines and provide effective future therapy landscape for myeloproliferative diseases. Despite the market low growth, several firms are continuing to evaluate novel therapeutic techniques and combination regimens that could potentially improve treatment outcomes.

Myeloproliferative Disorders Drugs Market Trends, Drivers, Restraints, and Opportunities

• Rising incidence of myeloproliferative disorders as a result of the ageing population as well as changing lifestyles are propelling the market growth.
• Growing inclination towards early diagnosis of the disorders among a large number of health-conscious population are expected to boost the market growth during the forecast period.
• Increasing focus in research and development activities by key players is anticipated to spur the market growth in the coming years.
• Rising public awareness regarding the existing treatment facilities is anticipated to fuel the market expansion in the near future.
• Complicated reimbursement and multiple patent expirations are estimated to hamper the market growth.

Scope of Myeloproliferative Disorders Drugs Market Report

The report on the global myeloproliferative disorders market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Myeloproliferative Disorders Drugs Market Segment Insights

The Polycythemia Vera segment is projected to account for a major market share

Based on indications, the myeloproliferative disorders market is bifurcated into Ph+ chronic myelogenous leukemia (CML) and Ph- myeloproliferative neoplasms (MPNs). The MPNs segment is further divided into myelofibrosis (MF), polycythemia vera (PV), and essential thrombocythemia (ET).

The polycythemia vera segment is expected to account for a key share of the market in the coming years owing to wide prevalence of myeloproliferative diseases in North America and Western Europe, with the lowest prevalence in East Asia.

MPNs are most commonly diagnosed in persons over the age of 60; however, the disease can strike anyone at any age. Primary myelofibrosis (PMF) and myelofibrosis transformation from preceding polycythemia vera (post-PV MF) or essential thrombocytosis are all types of myelofibrosis (post-ET MF). Polycythemia vera (PV) is a condition in which red blood cells proliferate constantly.

An increase in hemoglobin causes an increase in blood volume and viscosity, as well as an increased risk of thrombosis. A rise in platelet count and a proclivity for vascular occlusive events and bleeding describe essential thrombocythemia (ET). CML is a myeloproliferative neoplasm marked by uncontrolled granulocyte proliferation and the presence of the BCR-ABL1 fusion gene on the Philadelphia chromosome.

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Regional Analysis

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is anticipated to dominate the market by exhibiting an impressive CAGR during the forecast period.

The presence of a large targeted population, many product launches, and increased adoption of innovative therapies by a large number of patients are among the key growth drivers for the regional market growth.

Germany is currently the leading country representing the top five EU markets. Over the forecast period, the markets in the United Kingdom, Italy, and France are expected to rise moderately.

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Segments

The global myeloproliferative disorders market has been segmented on the basis of

Indications

• Ph+ Chronic Myelogenous Leukemia (CML)
• Ph- Myeloproliferative Neoplasms (MPNs)
  • Myelofibrosis (MF)
  • Polycythemia Vera (PV)
  • Essential Thrombocythemia (ET)

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Novartis AG
• Bristol-Myers Squibb Company
• Pfizer Inc.
• Takeda Pharmaceutical Company Limited
• Incyte Corporation
• Teva Pharmaceutical Industries Ltd.

Competitive Landscape

Key players competing in the global myeloproliferative disorders market share are Novartis AG; Bristol-Myers Squibb Company; Pfizer Inc.; Takeda Pharmaceutical Company Limited; Incyte Corporation; and Teva Pharmaceutical Industries Ltd. These companies adopted several primary strategic endeavours such as development collaborations, bigger product portfolios, and regional expansion in new markets to boost their market share.

Gleevec, a low-cost generic producer, has planned to catch on quickly and become the most common first-line treatment for CML. Incyte has a first-mover advantage over competitors for pipeline medicines as it is the sole medication approved for MF and PV for refractory patients. For Jakafi intolerant or resistant patients, novel pipeline medicines targeting the MF indication are expected to be employed.