Global Myelofibrosis Market: Overview
Myelofibrosis is an uncommon type of bone marrow cancer and is related to a group of blood cancers known as myeloproliferative neoplasms. A simple blood test along with bone marrow biopsy can diagnose myelofibrosis. Myelofibrosis is also known as chronic myelosclerosis, agnogenic myeloid metaplasia, aleukemic megakaryocytic myelosis, idiopathic myelofibrosis, and leukoerythroblastosis. According to the report published by The Leukemia & Lymphoma Society (LLS) in United States, myelofibrosis occurs in about 1.5 out of every 100,000 people in the United States annually. Patients above 50 years of age are more prone to the disease, but it can occur at any age. Myelofibrosis affects women and men with equal frequency, but in children, it is more likely to affect girls more than boys. Though the treatment options available for the myelofibrosis are scarce and almost all are suggestive, the FDA approved (JAK inhibitor) drug-ruxolitinib forms a major line of defense against myelofibrosis.
Presently there are numerous research projects under examination that are concentrating on developing specific treatment for myelofibrosis. CTI BioPharma is studying oral pacritinib usage in myelofibrosis treatment, a molecule - CYT387 is being developed by Gilead Sciences for treating primary myelofibrosis, and Incyte Corporation is working on a substitute dosing strategy of ruxolitinib on patients with myelofibrosis. Plus, the innovator of ruxolitinib - Novartis is constantly trying to come up with new usage of drug in various stages of myelofibrosis.
The market is segmented on the basis of treatment type into blood transfusion, chemotherapy, androgen therapy, and stem cell/bone marrow transplantation. Based on end user, the market is further classified into hospitals, clinics, and bone marrow transplant centers. The market is also segmented on the basis of categories of drugs available for treatment options such as hydroxyurea, immunomodulators, JAK inhibitor (Ruxolitinib), and others.
In the report, Transparency Market Report (TMR) provides a detailed analysis of drivers and restrictions in the global myelofibrosis market. It also delivers insight to the segments and regions of the market.
Global Myelofibrosis Market: Drivers and Restraints
The occurrence of myelofibrosis is comparatively high in developing economies, thereby increasing the demand for various treatment options for myelofibrosis. The growth of the market is expected to further rise due to heavy investments in research and development, appropriate reimbursement conditions, and a large pool of patients living with myelofibrosis. In addition, the growth can be attributed to other factors such as lifestyle up-gradation, escalating smoking population, and increasing incidence of genetic disorders. On the contrary, limited awareness and high cost involved in treatment might restrict the growth of the global myelofibrosis market.
Due to easy availability of chemotherapeutic agents, chemotherapy segment is projected to contribute significantly to the revenue generated by the market. The USFDA approved Ruxolitinib – the only chemotherapeutic agent that is specifically administered for the treatment of myelofibrosis, will give impetus to the global myelofibrosis treatment market over the said period.
Global Myelofibrosis Market: Regional Outlook
On the basis of geography, the global myelofibrosis market is segmented into Europe, Asia Pacific, North America, and Rest of the World. According to the report, North America is known to hold the maximum market share, in terms of value. The growth of this region can be attributed to the growing awareness, high prevalence of the disease, higher percentage of income spent on healthcare compared to other economies, and appropriate reimbursement circumstances. Asia Pacific is expected to hold a large share in the market due to its high geriatric population and increased disposable income, and improving healthcare facilities.
Companies Mentioned in Report
The key players operating in the global myelofibrosis market are Novartis, Roche, Merck & Co., Eli Lilly, Celgene, Amgen, Bristol-Myers Squibb, Incyte Corporation, and Gilead Sciences.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.