Myelofibrosis market to increase to be worth over $1 billion by 2025
pharmafile | November 16, 2016 | News story | Business Services, Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing | EU, US, myelofibrosis
The myelofibrosis market is expected to grow from $545.2 million in 2015 to $1.02 billion by 2025, almost doubling in size. This would represent a compound annual growth rate of 6.4%, as reported by GlobalData.
This growth will be seen through seven major markets of the US, France, Germany, Italy, Spain, the UK and Japan, of which the launch of pipeline agents are the primary driver. Other factors involved in the growth are due to the increase in the incidence of myelofibrosis, due to genetic disorders, lifestyle changes, such as smoking, and aging populations. Also, more treatments are expected to enter the market and the high cost of treatment across the board should also encourage growth.
James Beggs, GlobalData’s analyst explained the findings: “Incyte/Novartis’ Jakafi is currently the only drug approved for the treatment of myelofibrosis-associated splenomegaly and constitutional symptoms in the 7MM. Currently, there are no drugs approved for patients who are refractory or become unresponsive to Jakafi treatment, and momelotinib and imetelstat are expected to contribute towards addressing this issue with launches in the second-line setting in 2017 and 2021, respectively.”
Myelofibrosis is a myeloproliferative disorder which is charactised by proliferation of abnormal clone of haematopoietic stem cells. Myelofibrosis is a rare type of chronic leukaemia that affects the blood forming function of the bone marrow tissue. The disease is identified as a rare disease and is usually found to occur in individuals over the age of 50. The symptoms of the disease include weakness, fatigue, anaemia, splenomegaly and gout.
Ben Hargreaves
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