Global Myelofibrosis Treatment Market to Grow at 4.56% During 2024-2032, Propelled by Increasing Incidences of Genetic Abnormalities

September 29, 2022 | Healthcare

According to the latest report by IMARC Group, titled “Myelofibrosis Treatment Market Report by Drug Type (Hydroxyurea, Immunomodulators, JAK Inhibitor, and Others), Treatment Type (Blood Transfusion, Chemotherapy, Androgen Therapy, Stem Cell/Bone Marrow Transplantation, and Others), End User (Hospitals and Clinics, Bone Marrow Transplant Centres, and Others), and Region 2024-2032”, the global myelofibrosis treatment market is expected to exhibit a growth rate (CAGR) of 4.56% during 2024-2032. Myelofibrosis is a myeloproliferative condition characterized by the proliferation of defective hematopoietic stem cell clones that compromises the bone marrow's ability to make blood. Several tests are available to diagnose this disease, including physical examinations, blood tests, bone marrow tests, imaging tests, and human leukocyte antigen (HLA) typing. Most of these treatment options for myelofibrosis focus on preventing blood count problems and splenomegaly. Furthermore, several drugs are being introduced in the market that provide relief from symptoms of the disease as well as reduce blood volume.

Global Myelofibrosis Treatment Market Trends:

The global market is primarily driven by the increasing incidences of genetic abnormalities and blood disorders, such as thrombocythemia and polycythemia vera. This can be attributed to poor lifestyle choices of the masses as well as prolonged exposure to industrial chemicals and high levels of radiation. In addition to this, the expanding geriatric population that is susceptible to developing numerous chronic illnesses is resulting in an increased demand for myelofibrosis treatment. Moreover, the introduction of novel drugs for relieving chronic symptoms of myelofibrotic patients is providing an impetus to the market. The market is further driven by the significant investments made by the major pharmaceutical companies for extensive research and development (R&D) activities. Apart from this, favorable government initiatives and improved reimbursement policies for myelofibrosis treatment are creating a positive market outlook. Some of the other factors contributing to the market include continual improvements in healthcare infrastructure, easy availability of chemotherapeutic drugs via online and offline organized retail channels and inflating disposable income levels.

Market Summary:

  • Based on the drug type, the market has been segmented into hydroxyurea, immunomodulators, JAK inhibitor, and others.
  • On the basis of the treatment type, the market has been divided into blood transfusion, chemotherapy, androgen therapy, stem cell/bone marrow transplantation, and others.
  • Based on the end user, the market has been categorized into hospitals and clinics, bone marrow transplant centres, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AllCells LLC, American Type Culture Collection Inc, Amgen Inc, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Gilead Sciences Inc., Incyte Corporation, Merck & Co. Inc., and Novartis AG.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Drug Type, Treatment Type, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AllCells LLC, American Type Culture Collection Inc, Amgen Inc, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Gilead Sciences Inc., Incyte Corporation, Merck & Co. Inc. and Novartis AG
Customization Scope 10% Free Customization
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Global Myelofibrosis Treatment Market to Grow at 4.56% During 2024-2032, Propelled by Increasing Incidences of Genetic Abnormalities
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