Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Myelodysplastic Syndrome Drugs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global myelodysplastic syndrome drugs market has grown rapidly in recent years. It will grow from $2.07 billion in 2023 to $2.28 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The increase in historical growth can be ascribed to factors such as an aging demographic, advancements in diagnostic technologies, a rise in cases of chemotherapy-related myelodysplastic syndromes (MDS), greater numbers of cancer survivors, ongoing clinical research, and the continual development of pharmaceuticals.
The myelodysplastic syndrome drugs market is expected to see strong growth in the next few years. It will grow to $3.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. During the projected period, the anticipated expansion can be linked to the increasing elderly population, advancements in precise therapies, heightened comprehension of disease mechanisms, amplified awareness leading to early detection, and the broadening scope of oncology research. Key trends in this timeframe encompass the optimization of erythropoiesis-stimulating agents, the integration of combination therapies, a heightened emphasis on iron chelation therapy, regulatory endorsements, enhanced market access, and the adoption of patient-centric care models.
The anticipated rise in myelodysplastic syndrome cases is set to drive growth in the market for drugs treating this condition. Notably, estimates from the American Journal of Managed Care in October 2022 place the prevalence of myelodysplastic syndrome in the USA between 60,000 to 175,000 cases, substantiating the market's growth due to increased incidences.
The burgeoning demand for personalized medicine is expected to be a driving force behind the expansion of the myelodysplastic syndrome drugs market. Notably, in 2022, the FDA's Center for Drug Evaluation and Research greenlit 37 new molecular entities, with the Personalized Medicine Coalition categorizing 12, around 34%, as personalized medicines, emphasizing the market's growth trajectory.
Research and innovation stand out as pivotal trends fueling growth within the myelodysplastic syndrome drug market. Major industry players are focused on pioneering technological advancements to solidify their market positions. For example, in May 2021, Novartis secured FDA fast-track designation for Sabatolimab (MBG453), an investigational immuno-myeloid therapy targeting TIM-3. This innovative therapy, geared towards high-risk myelodysplastic syndromes and acute myeloid leukemia, holds potential for accelerated development and approval, addressing critical medical needs.
Prominent companies operating in the myelodysplastic syndrome drugs sector are intensifying efforts to introduce novel medications, aiming to gain a competitive edge. TIBSOVO, an oral targeted therapy inhibiting the mutant isocitrate dehydrogenase 1 (IDH1) enzyme, is a prime example. Approved for treating adult patients with relapsed or refractory myelodysplastic syndromes (MDS), TIBSOVO represents a significant milestone in the industry. Notably, Servier Laboratories' approval of TIBSOVO by the US FDA in October 2023 marks the first targeted therapy sanctioned for this indication. The approval stems from a pivotal Phase I study evaluating its efficacy in this new application.
In November 2021, Merck & Co., Inc., a US-based pharmaceutical company, acquired Acceleron Pharma Inc. for $11.5 billion. This acquisition aims to expand Merck's pipeline of cardiovascular drugs. Acceleron Pharma Inc. is a US-based biopharmaceutical company involved in developing therapeutics to treat myelodysplastic syndromes and beta-thalassemia.
Scope
Markets Covered:
1) By Therapeutic Class: Immunomodulatory Drugs; Hypomethylating Agents; Anti-anemics
2) By Type of Syndrome: Refractory Cytopenia With Multilineage Dysplasia; Refractory Anemia; Refractory Anemia With Excess Blasts; Refractory Anemia With Ringed Sideroblasts
3) By Route of Administration: Oral; Parenteral
4) By Applications: Original; Generics
5) By End-user: Hospitals; Clinics; Ambulatory Surgical Centers
Key Companies Mentioned: Amgen Inc.; Celgene Corporation; Otsuka Pharmaceutical Co. Ltd.; Takeda Pharmaceutical Company Limited; Cipla Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes:
- Amgen Inc.
- Celgene Corporation
- Otsuka Pharmaceutical Co. Ltd.
- Takeda Pharmaceutical Company Limited
- Cipla Limited
- Dr. Reddy's Laboratories Ltd.
- Lupin Ltd.
- Onconova Therapeutics Inc.
- Sun Pharmaceutical Industries Limited
- FibroGen Inc.
- Aprea Therapeutics
- Bayer AG
- Bristol Myers Squibb
- Celator Pharmaceuticals
- Crystal Genomics Inc.
- AbbVie Inc.
- Astex Pharmaceuticals Inc.
- Geron Co.
- Hikma Pharmaceuticals plc
- Jazz Pharmaceuticals Inc.
- Mylan NV
- Novartis AG
- Sandoz Inc.
- Syros Pharmaceuticals
- Teva Pharmaceutical Industries Ltd.
- Acceleron Pharma Inc.
- Agios Pharmaceuticals Inc.
- Incyte Corporation
- Array Biopharma Inc.
- MEI Pharma Inc.
For more information about this report visit https://www.researchandmarkets.com/r/d5rnta
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