Myeloproliferative Disorders Drugs Global Market Report 2024

The myeloproliferative disorders drugs market has grown strongly in recent years. It will grow from $9.11 billion in 2023 to $9.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. Historical growth can be attributed to several factors, including a rise in myeloproliferative disorder cases, enhanced comprehension of disease mechanisms, ongoing clinical research, progressive drug development, improved diagnostic methods and screening techniques, as well as heightened patient advocacy and awareness efforts.

The myeloproliferative disorders drugs market is expected to see steady growth in the next few years. It will grow to $11.15 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. Anticipated growth in the upcoming period is driven by several factors, notably the aging population, strides in precision medicine, the introduction of innovative therapies, a worldwide emphasis on rare diseases, and government-led healthcare initiatives and policies. Key trends expected in this period involve the adoption of precision medicine methodologies, increased clinical trials for investigational therapies, enhanced symptom management techniques, broader utilization of ruxolitinib, and a concentrated effort on disease biomarkers.

The anticipated increase in myeloproliferative disorders is poised to drive the growth of the market for drugs addressing these conditions. Myeloproliferative disorders, distinct from acute leukemia, entail abnormal cellular growth in one or more blood cell lines. This rise is chiefly attributed to genetic factors, environmental exposures such as radiation or chemicals, and the aging population. Medications for myeloproliferative diseases act by blocking the BCR-ABL protein, hindering downstream phosphorylation processes, thereby aiding in their treatment. Notably, according to the National Institute of Health in August 2022, chronic myelogenous leukemia was more prevalent in men, with an incidence rate of approximately 2.4 new cases per 100,000 compared to 1.4 new cases per 100,000 in women, signifying the driving force behind the market's growth.

The trajectory of the myeloproliferative disorders drug market is expected to be significantly influenced by increased investments in research and development. Such investments refer to the financial commitments made by companies to drive the discovery and application of new knowledge for product development, anticipating commercial gain. These investments are channeled towards innovating novel treatments, evident in the robust pipeline of drugs for myeloproliferative disorders. Notably, as per the National Center for Science and Engineering Statistics in September 2023, federal commitments for research and experimental development surged by 13.6% ($22.7 billion) from FY 2020 to FY 2021, reaching an all-time high of $190.2 billion, fostering growth in the myeloproliferative disorders drug market.

Product innovation stands as a prominent trend shaping the landscape of myeloproliferative disorder drugs. Key industry players are dedicated to crafting novel products to fortify their market standing. For instance, in September 2023, GSK plc announced FDA approval for momelotinib to treat primary myelofibrosis, a myeloproliferative disorder. This medication, momelotinib, operates uniquely by blocking three crucial signaling pathways activin A receptor type I (ACVR1), Janus kinase (JAK) 1, and JAK2. Its inhibition of JAK1 and JAK2 can potentially alleviate splenomegaly and other symptoms associated with the disorder, while also reducing hepcidin levels, known to contribute to anemia in myelofibrosis.

Major players in the myeloproliferative disorder drugs market are strategically focusing on introducing and obtaining approvals for advanced drug solutions, aiming to gain a competitive edge. The introduction and approval of these innovative drug solutions significantly enhance the availability of advanced therapies for patients grappling with myeloproliferative disorders. Notably, in September 2023, Novartis AG disclosed the National Institute for Health and Care Excellence's (NICE) approval for Jakavi (ruxolitinib), a JAK 1/2 inhibitor sanctioned for treating polycythaemia vera (PV). This approval grants access to Ruxolitinib for eligible patients in England and Wales, addressing an unmet treatment need as a substantial percentage of patients under existing therapies develop resistance or intolerance. PV, a subtype of myeloproliferative disorder, poses serious health risks and leads to approximately 1,130 new diagnoses per year in the UK.

In May 2022, Merk, a renowned biopharmaceutical firm based in the US, completed the acquisition of Imago BioSciences Inc. for $1.35 billion. This strategic acquisition is anticipated to bolster Merk's standing as a key player in clinical development, leveraging Imago BioSciences' expertise. Particularly, it aims to optimize the therapeutic potential of bomedemstat, an LSD1 inhibitor, and Imago's pipeline. Additionally, this move reinforces Merk's foothold in the expanding field of hematology. Imago BioSciences, a US-based clinical-stage biopharmaceutical company, specializes in the discovery and development of groundbreaking medications aimed at treating myeloproliferative neoplasms.

Major companies operating in the myeloproliferative disorders drugs market report are Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Incyte Corporation, Eli Lilly and Co, F Hoffmann-La Roche Ltd., Mylan NV, Fresenius Kabi AG, Hikma Pharmaceuticals plc, GSK plc, Bayer AG, Sun Pharmaceutical Industries Ltd., Boehringer Ingelheim International Gmbh, Sanofi Aventis Inc., AstraZeneca AB, Apotex Inc., Celgene Co., Gamida Cell Ltd., Geron Co., Promedior Inc., Johnson & Johnson Private Limited, AbbVie Inc., AOP Orphan Pharmaceuticals AG, Astellas Pharma Inc., Biogen Inc., Daiichi Sankyo Chemical Pharma Co. Ltd., Eisai Pharmaceuticals India Pvt. Ltd., Janssen Pharmaceuticals Inc.

North America was the largest region in the myeloproliferative disorder drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global myeloproliferative disorder drugs market report during the forecast period. The regions covered in the myeloproliferative disorders drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the myeloproliferative disorders drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of myeloproliferative disorder drugs include primary myelofibrosis, polycythemia vera (PV), essential thrombocythemia (ET), chronic eosinophilic leukemia or hyper eosinophilic syndrome (HES), and systemic mastocytosis (SM). Primary myelofibrosis refers to an uncommon chronic blood condition characterized by abnormal synthesis of fibrous tissue in the bone marrow, leading to reduced blood cell production and the formation of scar tissue. These drugs belong to categories such as JAK2 inhibitors, anti-neoplastic agents, demethylation agents, imatinib mesylate, and others. They can be administered orally, parenterally, or through other means. Distribution channels include hospital pharmacies, retail outlets, and drug stores.

The myeloproliferative disorders drugs market research report provides myeloproliferative disorders drugs market statistics, including myeloproliferative disorders drugs industry global market size, regional shares, competitors with a myeloproliferative disorders drugs market share, detailed myeloproliferative disorders drugs market segments, market trends and opportunities, and any further data you may need to thrive in the myeloproliferative disorders drugs industry. This myeloproliferative disorders drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The myeloproliferative disorder drugs market consists of sales of jasatinib, nilotinib, jakafi, hydroxyurea, and gleevec. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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