Immune Thrombocytopenia (ITP) Market Highest Growth During Forecast Period
Posted by sagar on February 25th, 2021
As per the latest report published by Market Research Future (MRFR), the Global Immune Thrombocytopenia (ITP) Market is set to surpass a valuation of USD 2,300 Mn by the year 2023, reflecting a healthy CAGR. ITP is a blood related disorder that cause abnormal clotting. Some of the discomforts caused by the disease include bruising, bleeding and severe drop in platelets counts. Both minors and adults can develop the condition. The disease is classified into primary and secondary form. Primary form of ITP occurs on its own while the latter is an offshoot of another condition. The condition can be triggered by reactive medications, autoimmune disease, pregnancy and certain type of cancers.
ITP is among the most commonly occurring disorder across the globe. In addition, the incidence rate has continued to spiral upwards in recent years. Factors as such as are fueling the demand for drugs and therapeutics for ITP. Currently, there are four treatment options available for ITP – intravenous immune globulin (IVIG), thrombopoietin receptor agonists, corticosteroids and immune-suppressing drugs. Though these treatment options have gained a healthy mileage, they come with certain degree of risk of side-effects. Nonetheless, increased focus towards innovation and R&D is likely to create new avenues for market players in the foreseeable future.
The report includes a thorough segmental analysis of the market on the basis of end-user, treatment, and type. By end-user, the market has been segmented into specialty centers, hospitals and clinics, research and academic institutes and others. Currently, the hospitals & clinic segment accounts for more than one-third share of the market. During the forecast period, the segment is expected to record an impressive 6.22% CAGR. By treatment, the market has been segmented into thrombopoietin receptor agonists, corticosteroids, intravenous immunoglobulins and others. In terms of value, the corticosteroids segment currently commands for close to 40% market share and is projected to surge at a CAGR of 5.57%. Based on type, the market has been segmented into acute immune thrombocytopenia and chronic immune thrombocytopenia. The chronic immune thrombocytopenia segment currently accounts for over two-third market and is expected to highly profitable in 2018 and beyond. The segment is likely to reach a valuation of USD 2,036.9 Mn by the end of assessment period, exhibiting a CAGR of 5.94%. Approval of numerous targeted treatments coupled with the rising prevalence of ITP is proving the impetus on the segment’s growth.
The market has been covered across regions such as Europe, Americas, the Middle East & Africa (MEA) and Asia Pacific (APAC). In 2017, the Americas segment accounted for the largest market share and trend is likely to continue beyond 2018. Some of the factors that are supporting the growth of the market in the region include rising prevalence of ITP in countries such as the US, Canada, Mexico and Brazil, high healthcare expenditure and favorable reimbursement policies. As per the National Organization of Rare Disorders (NORD), the incidence rate of Immune thrombocytopenia among Americans is 3.3 per 100,000 adults/year approx. Meanwhile, Europe and APAC currently hold the second and third spot respectively. Presence of advanced healthcare infrastructure and strong government support is supporting the growth of the market Europe. In Asia Pacific, the market has gained a healthy momentum in recent years owing to factors such as increase penetration of healthcare services, growing awareness and expanding patient pool. The market for ITP in APAC is expected to witness a strong growth over the next couple of years.
Key companies mentioned in MRFR’s report include Dova Pharmaceuticals, Jiangsu Hengrui Pharmaceutical Co., Ltd., Ligand Pharmaceuticals, Inc., Rigel Pharmaceuticals, Inc., Kyowa Hakko Kirin Co., Ltd., Amgen Inc., Shire, F.Hoffmann-La Roche Ltd., Shionogi Inc. CSL Limited, and Novartis AG.
About the Authorsagar
Joined: January 27th, 2020
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