Global Polycythemia Market - 2023-2030

Global Polycythemia Market - 2023-2030

Global Polycythemia Market reached US$ 1.3 billion in 2022 and is expected to reach US$ 6.4 billion by 2030, growing with a CAGR of 5.4 % during the forecast period 2023-2030.

An increase in the absolute amount of red blood cells (RBCs) in the body is referred to as polycythemia, also known as erythrocytosis. In actuality, this appears as a rise in haemoglobin concentrations, or hematocrit, over what is deemed physiological for the specific age and gender. The risk of thrombotic events (blood clots) can rise with polycythemia. Therefore, current approaches to treating this problem may concentrate on lowering the risk of clots through medication and dietary modifications.

The strain on the heart caused by polycythemia's elevated blood viscosity may result in heart-related issues. Additionally, it can raise blood pressure, a risk factor for heart disease. Due to persistently low oxygen levels, the body may occasionally manufacture an excessive amount of red blood cells in polycythemia cases. Although at first glance this may seem like an adaptive reaction, it can actually make it more difficult for oxygen to reach tissues and organs. To make sure that all bodily tissues receive enough oxygen, proper administration is crucial.

Dynamics

Increasing the Clinical Trails on Polycythemia

Increased recognising, diagnosis, and treatment choices for those with polycythemia may result from research in the field. The potential to aid in medical improvements in this field may inspire businesses. Medical demands for people with polycythemia can still go unmet despite advances in research. Clinical trials seek to fill these gaps in patient care by creating novel medicines or improving existing ones. In light of the aforementioned facts, it is clear why clinical trials are becoming increasingly common and how they contribute to faster market expansion.

For instance, on May 4, 2023, Rogeginterferon alfa-2b-njft (BESREMi) is being tested in the ECLIPSE PV Phase IIIb clinical study by PharmaEssentia for the treatment of polycythemia vera (PV), a rare, persistent, and potentially fatal blood malignancy. In a single-arm research, 100 individuals from the US and Canada will compare an accelerated dose schedule for ropeginterferon alfa-2b-njft to the currently recommended dosing.

In this 48-week period, individuals will receive a starting dose of 250 mcg, a target optimal dose of 350 mcg in week two, and a dose of 500 mcg in week four. With this trial, PharmaEssentia hopes to provide evidence on the possibly enhanced advantages of administering BESREMi to patients using this expedited dose schedule and to provide physicians and patients more reason to be confident in the treatment's effectiveness in managing this chronic malignancy.

Moreover, in May 2022, new information from Protagonist Therapeutics' ongoing Phase 2 REVIVE research investigating rusfertide in patients with polycythemia vera (PV) has been made available. The 2022 American Society of Clinical Oncology (ASCO) Annual Meeting, which takes place in Chicago from June 3–7, 2022, will deliver these findings orally. The rapid therapeutic effect of rusfertide and its applicability as a potent potential treatment across all PV patient categories are further demonstrated by these extremely encouraging new findings, which are independent of patient risk category or concurrent therapy with other cytoreductive treatments like hydroxyurea, interferons, or JAK inhibitors. So, all of those factors help the market grow.

The Rise of Product Approvals and Product Launches

More knowledge of polycythemia and how it affects patients' quality of life might result in initiatives that motivate drug companies to invest in research and create new medications that will benefit patients. There may be a rising market demand for efficient treatments as the prevalence of polycythemia or associated disorders rises. To address the demands of patients and healthcare professionals, pharmaceutical companies may be driven by this need to make investments in research and development. Thus, the increase in product approvals and product launches contributes to the market's expansion.

For instance, on November 12, 2021, Besremi (ropeginterferon alfa-2b-njft) injection is approved by the U.S. Food and Drug Administration to treat adults with polycythemia vera, a blood condition that results in the overproduction of red blood cells. The extra cells make the blood thicker, which slows blood flow and raises the risk of blood clots. Besremi is the first interferon therapy particularly approved for polycythemia vera and the first polycythemia vera-specific drug that patients can use independent of prior treatment experiences.

Moreover, on August 02, 2021, Bristol Myers Squibb, stated that the European Commission (EC) approved full Marketing Authorization for Inrebic (fedratinib) for the treatment of disease-related splenomegaly (enlarged spleen) or symptoms in adult patients with primary myelofibrosis, post-polycythaemia vera myelofibrosis or post-essential thrombocythaemia myelofibrosis, who are Janus Associated Kinase (JAK) inhibitor naïve or have been treated with ruxolitinib. So, all of these factors fuel market expansion.

Regulatory Delays in the Approval of Drugs for Polycythemia

A crucial step in the development of new drugs is conducting clinical trials. It can be challenging to plan and carry out rigorous clinical trials for polycythemia medications, particularly if the disorder has several different underlying causes or if the patient group is somewhat small. Problems with patient recruitment, study design, and data analysis might cause delays. Due to the relative rarity of polycythemia, there may not be as much information available for some medication development considerations, such as long-term safety and practical efficacy. Regulatory bodies may ask for more information to confirm that the advantages of the drug outweigh any possible risks.

Segment Analysis

The global polycythemia market is segmented based on type, treatment, route of administration, distribution channel and region.

PV, is a Rare, Slowly Progressing Kind of Blood Cancer

Polycythemia vera (PV) is another term for primary polycythemia. A myeloproliferative neoplasm, or PV, is a rare, slowly progressing kind of blood cancer. Red blood cell production is excessive because of PV's effect on the bone marrow, which overproduces precursor blood cells that mature and function improperly. The potential for polycythemia vera is mostly being driven by the rise in gene abnormalities that have an impact on how blood cells form in the bone marrow.

Additionally, the segment growth is being aided by the increased prevalence of a number of linked risk factors, such as growing older, being obese, having a history of blood clots, smoking, having diabetes, being pregnant, etc. Another important reason driving expansion is the increasing use of effective drugs including anti-platelets, antihistamines, selective serotonin reuptake inhibitors, etc., which relieve symptoms and improve patients' general health.

For instance, an oral inhibitor of JAK 1 and JAK 2 tyrosine kinases is JAKAFI/JAKAVI (ruxolitinib). It is approved for the treatment of adult polycythemia patients. Verafor the treatment of disease-related splenomegaly or symptoms in adult patients, as well as for those who are resistant to or intolerant of hydroxyurea. Thus, the increase in instances and the launch of new products fuels the segment's expansion.

Geographical Penetration

Rising Product Approvals and Product Launches in the North American Region

North America dominates the global polycythemia market primarily due to lifestyle factors, such as diet and exercises, can impact the prevalence of various health conditions. If certain dietary patterns or lifestyle habits in North America contribute to the development of polycythemia, it could lead to a higher prevalence.

Additionally, the market will experience a rapid expansion in the coming years due to the major pharmaceutical companies' research initiatives to develop new drugs. Thus rise of diseases and product developments, in the region helps to accelerate the region growth.

For instance, on July 17, 2023, The United States Food and Drug Administration (FDA) has granted Fast Track Designation to the development initiatives of selinexor for the treatment of patients with myelofibrosis, including primary myelofibrosis, post-essential thrombocythemia myelofibrosis, and post-polycythemia vera myelofibrosis, according to Karyopharm Therapeutics Inc., a commercial-stage pharmaceutical company introducing novel cancer therapies. Thus, all of those factors aid in accelerating market expansion in the region.

COVID-19 Impact Analysis

The availability of raw materials and the production of drugs required to treat polycythemia may be impacted by the pandemic's disruption of global supply networks and manufacturing procedures. The distribution of these pharmaceuticals may be impacted by delays or disturbances in the supply chain. Telemedicine and virtual healthcare services were more widely used as a result of the pandemic.

While this would have made it simpler for some polycythemia patients to interact with their doctors remotely, it might also have had restrictions on how some parts of the disease's treatment could be handled. Due to the pandemic, clinical studies for novel polycythemia medications or therapeutic modalities may have been postponed or disturbed. The development of new therapies for the disease may be impacted by this information.

By Type
• Primary polycythemia
• Secondary polycythemia
• Pseudopolycythemia

By Treatment
• Phlebotomy
• Aspirin
• Myelosuppressive Agents
• Selective Serotonin Reuptake Inhibitors
• Others

By Route of Administration
• Oral
• Intravenous
• Intramuscular

By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On November 21, 2022, The US Food and Drug Administration (FDA) has formally approved Mabwell Biopharmaceutical Company's clinical trial application for 9MW3011 Injection used in patients with polycythemia vera. Mabwell Biopharmaceutical Company has the layout of the entire industry chain. A monoclonal antibody with a novel target is 9MW3011. It is a Category 1 Therapeutic Biological Product that was independently developed by Mabwell's Innovation R&D Centre in San Diego, California.
• In July 2023, Rogeginterferon alfa-2b has been added as a preferred therapy option for patients with high- and low-risk polycythemia vera in the most recent revision of the National Comprehensive Cancer Network (NCCN) Clinical Practise Guidelines in Oncology. Rogeginterferon alfa-2b is recommended in the recently released guidelines, which classify the suggestion as category 2A, indicating a unanimous NCCN belief that it is an acceptable intervention for PV patients.
• On March 23, 2023, the JAK1/JAK2 inhibitor ruxolitinib extended-release (XR) tablets were approved by the FDA for once-daily (QD) use in the treatment of specific types of myelofibrosis (MF), polycythemia vera (PV), and graft-versus-host disease (GVHD), according to Incyte.

Competitive Landscape

The major global players in the market include Novartis AG, Incyte Corporation, The Bristol-Myers Squibb Company, Eli Lilly and Company, PharmaEssentia Corporation, Dr.Reddy's, LC Laboratories, Par Pharmaceutical, TAJ LIFE SCIENCES PVT. LTD, GSK PLC and among others.

Why Purchase the Report?
• To visualize the global polycythemia market segmentation based on type, treatment, route of administration, distribution channel and region,as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of polycythemia market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global Polycythemia market report would provide approximately 61tables, 58figures and 186 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies Show more