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Myelodysplastic syndrome (MDS) is a type of cancer that affects the blood and bone marrow. It results in inefficient production of normal blood cells. The disease causes fatigue, shortness of breath, easy bruising and bleeding problems. Treatment of MDS primarily focuses on alleviating symptoms by managing anemia, preventing infections, reducing fatigue and possibility of progression to acute myeloid leukemia (AML).
The global myelodysplastic syndrome treatment market is estimated to be valued at US$ 3,265.6 million in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.
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. Treatment of MDS involves blood transfusions, growth factors, chemotherapy, stem cell transplant, and targeted drugs. Growth factors like Epogen and Aranesp are used to treat anemia. Chemotherapy drugs azacitidine and decitabine are approved for MDS treatment. Jakafi by Incyte and Daurismo by Pfizer are two recently approved targeted therapies.
Key Takeaways
Key players: 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., and Geron.
Key opportunities: Increasing disease prevalence, rising geriatric population, expiration of patents of major drugs.
Global expansion: Companies focusing on emerging markets in Asia Pacific and Latin America through collaborations and acquisitions.
Market drivers
The major driver for myelodysplastic syndrome treatment market is increasing disease prevalence due to rising risk factors like obesity, smoking, and alcohol consumption. As per WHO, over 10,000 new MDS cases are diagnosed annually in the United States. Rise in geriatric population also contributes as MDS is predominantly a disease of old age with over 70% patients being diagnosed over 60 years of age.
PEST Analysis
Political: Regulations regarding new drug approvals and clinical trials affect the research and development of new treatments for myelodysplastic syndrome. Governments provide funding for medical research which helps accelerate the clinical research process.
Economic: Drug development and clinical trials require huge investments which can impact the business decisions of pharmaceutical companies operating in this market. Affordability and availability of treatments under public health insurance programs also impact the market potential.
Social: Growing aging population globally is increasing the risk of developing myelodysplastic syndrome. Public awareness about the disease and available treatment options influence patients seeking healthcare services.
Technological: Advancements in gene and cell therapies hold promise for developing new targeted treatments. Big data analytics and artificial intelligence can help accelerate research by analyzing large patient datasets.
The geographical regions where the myelodysplastic syndrome treatment market is concentrated in terms of value include North America and Europe. North America currently accounts for the largest market share due to growing prevalence of the disease and availability of advanced treatment options. Other developed markets like Europe also have high treatment rates.
The fastest growing region for the myelodysplastic syndrome treatment market is expected to be Asia Pacific over the forecast period. This is mainly due to increasing healthcare expenditure, large geriatric population, greater access to diagnosis and treatments. Rising awareness about myelodysplastic syndrome and its management in major Asian countries is also boosting the market growth in the region.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
