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Myelodysplastic syndromes are a group of disorders affecting the bone marrow and blood cells. Individuals suffering from myelodysplastic syndromes have low numbers of one or more types of blood cells, which can lead to anemia, neutropenia, and thrombocytopenia. Some symptoms includes fatigue, shortness of breath, easy bruising and bleeding. The treatment options comprises blood transfusions, growth factor treatments, chemotherapy, stem cell transplant, supportive care etc. Major pharmaceutical companies are increasingly investing in research and development activities to develop innovative products for effective treatment of myelodysplastic syndromes. Drug development pipelines are strong with several products in early to mid-stage clinical trials.
The global Myelodysplastic Syndrome Treatment Market is estimated to be valued at US$ 3,265.6 mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The myelodysplastic syndrome treatment market is expected to flourish by increase in research and development activities. A key driver for market growth is the presence of strong product pipeline with several pharmaceutical companies conducting clinical trials to develop novel therapies for myelodysplastic syndromes. For instance, in 2021, Astellas Pharma announced positive results from phase 2 clinical trial evaluating fevipiprant in higher-risk myelodysplastic syndromes. Similarly, Onconova Therapeutics and Acceleron Pharma have therapies in phase 2 trials which have shown promising results. These innovative drugs hold the potential to transform the treatment landscape if approved. Furthermore, rising research collaborations between industry players and research institutes for drug development is also boosting the market. For example, in 2020, FibroGen partnered with LENUS Therapeutics to develop therapeutics targeting arginine methyltransferase 5 for myelodysplastic syndromes and other hematologic malignancies. Such initiatives will aid in introducing more effective treatment options.
Segment Analysis
The global myelodysplastic syndrome treatment market is segmented into drugs, distribution channel, and region. On the basis of drugs, the market is segmented into Immunomodulators, Immunosuppressants, and Growth Factors. Among these, the immunomodulators segment dominates the market owing to the rising usage of drugs like lenalidomide. These drugs help stimulate the immune system to fight myelodysplastic syndromes.
PEST Analysis
Political: Government initiatives to increase awareness about MDS treatments and provide better healthcare services boost the market growth. Economic: Rising healthcare expenditure and introduction of cost-effective generic drugs provide opportunities to MDS treatment manufacturers. Social: Growing geriatric population prone to developing MDS and increasing adoption of innovative therapies drive the market growth. Technological: Advancements in targeted drug therapies and stem cell transplantation techniques widen treatment options and support market expansion.
Key Takeaways
The global myelodysplastic syndrome treatment market is expected to witness high growth over the forecast period owing to the rising prevalence of MDS worldwide.
Regionally, North America dominates the market currently due todeveloped healthcare infrastructure and increasing healthcare spending.
Key players operating in the myelodysplastic syndrome treatment market are Celgene Corporation, Otsuka Pharmaceutical Co., Ltd. Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, Dr. Reddy’s Laboratories Ltd., Mylan NV, Cipla Limited, Acceleron Pharma, Inc., Aprea Therapeutics, FibroGen Inc., Onconova Therapeutics Inc. Celgene Corporation leads the market with its immunomodulatory drugs like Revlimid (lenalidomide).
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
