Myelofibrosis Treatment Market Size is Growing Globally by 2024
Zion Market Research has published a new report titled “Myelofibrosis Treatment Market by Diagnosis Type (Gene Mutation Analysis, Bone Marrow biopsy, Imaging Test, and Blood Tests), by Treatment Type (Chemotherapy, Blood Transfusions, Stem Cell Transplant, Splenectomy, Radiation Therapy, and Others), by Drug Type (Hydroxyurea, Immunomodulators, JAK Inhibitor, and Others), and by End-User (Hospitals, Clinics, and Bone Marrow Transplant Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2024”. According to the report, global myelofibrosis treatment market was valued at approximately USD 621.5 million in 2017 and is expected to generate revenue of around USD 971.5 million by end of 2024, growing at CAGR of 6.73% between 2018 and 2024.
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Myelofibrosis is rare bone marrow cancer in which normal bone marrow tissues get changed with scarred tissue which reduces the production of blood cells and increases the production of mutated cells. These mutated cells develop in different body organs, mostly in spleen due to overproduction of mutated cells thus leading to the enlargement of the spleen. This gives the feeling of fullness below the left lung; splenectomy is the procedure used to bring the spleen in its original shape and size. This disease leads to the reduction in the count of red blood cells with abnormalities such as different shapes of red blood cells, nucleated red blood cells, and others. In myelofibrosis patient, usually, platelets count decrease and increase in basophil count are observed during the blood test. This disease generally affects an individual after the age of 50 years. There is only one cure of this disease available and that is stem cell transplantation but this procedure involves several risks. Other treatment options also support in the treatment of myelofibrosis.
Global myelofibrosis treatment market is primarily driven by the high prevalence of disease and an increase in R&D for the development of new and effective drug for the treatment and is expected to support the growth of myelofibrosis treatment market. Increased prevalence of the disease has increased the demand for treatment options. There are various drugs which are under development by different companies and it is expected that in the near future these drugs will be available and can be used for the treatment. Increase in the genetic disorder, reimbursement conditions, and increased healthcare facilities are expected to support the growth of myelofibrosis treatment market in the near future. However, lack of awareness and a high cost of treatment may slow down the growth of myelofibrosis treatment market over the forecast period.
The myelofibrosis treatment market is segmented on the basis of diagnosis type which includes gene mutation analysis, bone marrow biopsy, an imaging test, and blood test. Based on the treatment type, the myelofibrosis treatment market is segmented into chemotherapy, blood transfusions, stem cell transplant, splenectomy, radiation therapy, and others. Due to easy availability of chemotherapy agents, chemotherapy is expected to grow at a faster rate. On the basis of drug type, the myelofibrosis treatment market is segmented into hydroxyurea, immunomodulators, JAK inhibitors, and others. Based on the end user, the myelofibrosis treatment market is segmented into hospitals, clinics, and bone marrow transplant centers.
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North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the key regional segments of the global myelofibrosis treatment market. North America is expected to lead the myelofibrosis treatment market over the forecast period which is closely followed by Europe. The Asia Pacific is expected to grow significantly over the forecast period. Latin America and the Middle East and Africa are expected to experience the moderate growth over the forecast period.
Some of the key players in myelofibrosis treatment market include Eli Lilly and Company, Gilead Sciences Inc., F. Hoffmann-La Roche Ltd., Incyte Corporation, Merck & Co., Bristol-Myers Squibb Company, Novartis AG, Amgen Inc., and Celgene Corporation, among others.
The report segments the global myelofibrosis treatment market as follows:
Global Myelofibrosis Treatment Market: Diagnosis Type Segment Analysis
- Gene Mutation Analysis
- Bone Marrow Biopsy
- Imaging Test
- Blood Test
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Global Myelofibrosis Treatment Market: Treatment Type Segment Analysis
- Blood Transfusions
- Stem Cell Transplant
- Radiation Therapy
Global Myelofibrosis Treatment Market: Drug Type Segment Analysis
- JAK Inhibitors
Global Myelofibrosis Treatment Market: End-User Segment Analysis
- Bone Marrow Transplant Centers
Global Myelofibrosis Treatment Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa