Myeloproliferative Disorders (MPD) Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Myeloproliferative Disorders (MPD) Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The myeloproliferative disorders (MPD) treatment market is expected to register a CAGR of 4.9% over the forecast period.

The outbreak of the COVID-19 pandemic has pushed the pharmaceutical industry into action, with a race to develop both therapeutic and preventive drugs. Exponentially increasing cases of the coronavirus worldwide are leading to the need for the development of novel treatments, with several clinical trials underway. Meanwhile, the manufacturers of myeloproliferative disorders (MPD) treatment drugs focused on developing biological vaccines and drugs, which can also be applied in diagnosing and treating COVID-19.

The outbreak of the pandemic positively impacted the market as it increased the cases of chronic myeloproliferative neoplasm (MPN) and associated disorders. For instance, according to the American Society of Hematology article published in September 2021, people suffering from intermediate 2 or high-risk myelofibrosis were expected to have a higher risk of adverse outcomes if they get infected with COVID-19. It also stated that thromboembolic (TE) complications were increasing in patients who had suffered from COVID-19, especially in the advanced stages of the disease. Increased risk of thromboembolic (TE) complications with COVID-19 emerged as a serious concern for myeloproliferative neoplasms patients due to the pre-existing risk for disease associated with thrombotic and/or hemorrhagic complications. Therefore, such an increase in myeloproliferative disorder (MPD) cases had lead to an increase of treatment rates. Thus, the market witnessed a positive impact during the pandemic.

The increasing research and development investments for developing novel treatments and strong presence of pipeline drugs are the major factors propelling the market growth. For instance, according to the report published by the European Commission in December 2021, the European Union-based companies increased their investments in research and development in the health upto 10.3%. It also reported that companies in the United States and China increased their overall research and development investments by 9.1% and 18.1% respectively. The United States and China-based companies have expanded their share of research and development in healthcare sector during the coronavirus crisis, in which United States increased upto 17.9% and China increased upto 30.7%. Therefore, such a scenario is anticipated to accelerate the research works related to diseases, clinical trials, and novel treatments for combatting disorders. Furthermore, increasing cases of myeloproliferative disorders is also one of the major driving factors for the market. For instance, according to the study titled, "Myeloproliferative Neoplasms" published in May 2022, myeloproliferative neoplasms were more common in males, with an incidence rate of about 2.4 new cases per 100,000 versus 1.4 new cases per 100,000 in females. Therefore, owing to such instances considerable market growth is expected over the forecast period.

However, side effects associated with medications is likely to hinder the market growth over the forecast period.

Key Market TrendsMyelofibrosis Segment is Expected to Witness Growth Over the Forecast Period

Myelofibrosis is a group of rare cancers of bone marrow in which the marrow is replaced by scar tissue and cannot make healthy blood cells. It is classified as a type of chronic leukemia and belongs to a group of blood disorders called myeloproliferative diseases. It is also called primary myelofibrosis, chronic idiopathic myelofibrosis, or myelosclerosis with myeloid metaplasia.

The increasing research work and rising incidence of myelofibrosis are the major factors propelling segment growth. For instance, as per the study titled, "Real-world survival of US patients with intermediate- to high-risk myelofibrosis: impact of ruxolitinib approval" published in October 2021, based on the population-based studies, the estimated incidence of primary myelofibrosis in the United States is approximately 0.3 per 100,000 person-years.

Similarly, as per the Leukaemia Foundation article published in June 2020, primary myelofibrosis is considered one of the rare chronic disorders, and around 1 per 100,000 population were diagnosed with primary myelofibrosis. It can occur at any age but is usually diagnosed later in life, between the ages of 60 and 70 years. It also reported that around 20.0% of people have no symptoms of primary myelofibrosis when they were first diagnosed. Furthermore, continuos drug launch for treating myelofibrosis is also anticipated to propel the segment growth. For instance, in May 2022, Active Biotech AB announced that the United States Food and Drug Administration (FDA) has granted tasquinimod Orphan Drug Designation for the treatment of myelofibrosis.

Therefore, owing to the above-mentioned factors the segment is anticipated to witness considerable growth over the forecast period.

North America Is Expected to Dominate the Myeloproliferative Disorders (MPD) Treatment Market Over the Forecast Period

North America is expected to dominate the overall myeloproliferative disorders (MPD) treatment market, over the forecast period. The growth is due to factors such as increasing cases of myeloproliferative disorders, rising research and development investments, and increasing research works for developing novel treatments for myeloproliferative disorders in the region. For instance, in September 2020, Bristol Myers Squibb Canada (BMS) announced that the Health Canada has approved INREBIC (fedratinib), a new once-daily oral medication used to treat adults with an enlarged spleen and associated symptoms caused by intermediate-2 or high-risk primary myelofibrosis, post-polycythemia vera myelofibrosis or post-essential thrombocythemia myelofibrosis. Thus, such instances may propel the growth of the region.

Key product launches, high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players increasing R&D investments by key players in the United States, and rising research works are some of the factors driving the growth of the myeloproliferative disorders (MPD) treatment market in the country. For instance, as per the study titled, "Next Generation Therapeutics for the Treatment of Myelofibrosis" published in April 2021, currently non-Janus kinase (JAK) inhibitor-based therapies are being explored in pre-clinical and clinical settings. Although JAK inhibitors were approved for the treatment of myelofibrosis, it does not significantly impact disease progression and many patients are ineligible due to coexisting cytopenias. In addition, patients who are refractory to JAK inhibition also have a dismal survival. Therefore, in order to overcome such a scenario the research works are being conducted to combat the disorder with more efficacy.

Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.

Competitive Landscape

The myeloproliferative disorders (MPD) treatment market is consolidated in nature due to the presence of a few key companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known including AbbVie, Bristol-Myers Squibb, Incyte Corporation, Mylan NV, Novartis AG, and Pfizer among others.

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