Splenomegaly Therapeutics Market: Introduction
- Splenomegaly is a medical condition wherein the spleen becomes enlarged due to various underlying medical conditions. The spleen stores white blood cells and red blood cells and helps the immune system by generating different antibodies. The spleen plays a vital role in maintaining the immune system healthy. The spleen filters antibody-coated bacteria; reprocesses the old red blood cells; and recycles iron in hemoglobin.
- Underlying medical conditions responsible for the development of splenomegaly are infectious diseases, liver disorders, cystic fibrosis, rheumatoid arthritis, leukemia, Hodgkin’s disease, and tumor in the spleen
- Treatment of splenomegaly involves treatment of underlying causes of splenomegaly
Global Splenomegaly Therapeutics Market: Key Drivers
- The global splenomegaly therapeutics market is primarily driven by high rate of prevalence of underlying causes of splenomegaly across the globe, such as autoimmune disorders, infectious diseases, and liver cancer
- According to the World Health Organization (WHO), more than 17 million people die due to infectious diseases across the globe every year. Infectious diseases are highly prevalent in developing countries with large population such as India, China, Brazil, Mexico, and countries in Africa.
- Also, rising rates of incidence of autoimmune disorders in western countries is likely to fuel the splenomegaly therapeutics market in these countries during the forecast period. For instance, the global rate of incidence of rheumatoid arthritis is approximately three cases per 100,000 individuals.
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Antibiotic Therapy Segment to Witness Attractive Opportunities
- Based on treatment, the global splenomegaly therapeutics market can be divided into common antibiotic therapy, chemotherapy, immunosuppressive therapy, and vaccination. Antibiotic therapy is likely to be the leading segment during the forecast period.
- Infectious diseases is one of the most common causes for the development of enlarged spleen. Therapeutic treatment of splenomegaly involves treatment of underlying causes. High prevalence of various bacterial, fungal, and viral infectious diseases is one of the key factors likely to drive the antibiotic therapy segment of the global market during the forecast period.
- Immunosuppressive therapy is projected to be the rapidly expanding segment of the global splenomegaly therapeutics market during the forecast period, owing to high prevalence of autoimmune disorders, especially rheumatoid arthritis, inflammatory bowel disorders, gout, and multiple sclerosis, across the world
Retail Pharmacy Segment to Dominate Global Market
- In terms of distribution channel, the global splenomegaly therapeutics market can be segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment is estimated to dominate the global market during the forecast period.
- The large number of retail pharmacy stores across the globe and easy availability of antibiotic drugs as well as small-molecule drugs at these stores are likely to be responsible for the prominent share held by the retail pharmacy segment during the forecast period
- Moreover, rapidly growing number of retail pharmacy stores in developing countries and rising foreign direct investments (FDIs) in retail pharmacy store chains are likely to fuel the segment during the forecast period
North America to Dominate Global Splenomegaly Therapeutics Market
- In terms of geography, the global splenomegaly therapeutics market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is likely to dominate the global market throughout the forecast period and it is estimated to lose market share marginally by 2027.
- High prevalence of autoimmune disorders among adults in the U.S., growing prevalence of lifestyle-related disorders, and increasing awareness about healthcare prevention are estimated to drive the North America market during the forecast period. For instance, according to the American Autoimmune Related Disorder Association, around 50 million individuals in the U.S. are affected by autoimmune disorders.
- The splenomegaly therapeutics market in Asia Pacific is projected to expand at a prominent CAGR during the forecast period. Rapid growth of the market in the region can be attributed to rapid development of healthcare infrastructure, rapid rise in access to healthcare for a large number of people, and high prevalence of infectious diseases in countries with large population such as India, China, and Hong Kong.
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Key Players Operating in Global Market
The global splenomegaly therapeutics market is highly fragmented, with a large number of domestic players holding a key share of the market in respective regions. A few of the key players operating in the global splenomegaly therapeutics market are:
- Pfizer Inc.
- Teva Pharmaceutical Industries
- Novartis AG
- Mylan NV
- Aurobindo Pharma Limited
- Eli Lilly and Company
- GlaxoSmithKline plc
- Bausch Health Companies, Inc.
- Merck & Co., Inc.
Global Splenomegaly Therapeutics Market, by Treatment Type
- Antibiotic Therapy
- Immunosuppressive Therapy
- Vaccine Therapy
Global Splenomegaly Therapeutics Market, by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Global Splenomegaly Therapeutics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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