Chronic Immune Thrombocytopenia Market
The chronic immune thrombocytopenia market is extrapolated to bring good growth prospects across the assessment period of 2021-2031. The increasing prevalence of chronic immune thrombocytopenia among a considerable chunk of the global populace will invite promising growth during the tenure of 2021-2031.
- Quick approvals from regulatory bodies like the Food and Drug Administration (FDA) will have a positive impact on the growth of the chronic immune thrombocytopenia market. The investments from government and non-government organizations are helping the chronic immune thrombocytopenia market to gain profitable growth. The increasing investments across the chronic immune thrombocytopenia market will prove to be a good growth generator during the forecast period.
- Research and development activities form a crucial part of the growth trajectory of the chronic immune thrombocytopenia market. The players invest in these activities for deriving new formulations that help in boosting the revenues, eventually increasing the growth rate of the chronic immune thrombocytopenia market.
- Expansion activities are also focused upon by the players in the chronic immune thrombocytopenia market to assure seamless distribution. Furthermore, framing sound business strategies also helps in improving the growth structure of the chronic immune thrombocytopenia market.
- Strategic collaborations are important for assuring a good growth trajectory. The players indulge in these activities for strengthening their position across the chronic immune thrombocytopenia market.
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Chronic Immune Thrombocytopenia Market: Introduction
- Immune thrombocytopenia (ITP) is an autoimmune-mediated hematological disorder affecting the platelets. The immune system of the patient with immune thrombocytopenia produces antibodies directed against platelet antigens, causing platelet destruction and suppression of platelet production in the bone marrow cells. This increases the risk of severe bleeding events in the patient with the disease. The disease occurs when the immune system attacks and destroys platelets and cell fragments that help in blood clotting. The condition can be either acute or chronic.
- Acute immune thrombocytopenia lasts less than six months, while the chronic condition persists for more than six months. Typically, adults have chronic immune thrombocytopenia, while children suffer from the acute condition. In adults, the condition could be elicited by infection with HIV, hepatitis, or H. pylori, while in children, it is followed by viral illness such as mumps or flu.
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Key Drivers, Restrains, and Opportunities of Global Chronic Immune Thrombocytopenia Market
- Increase in number of patients with chronic immune thrombocytopenia fuels the demand for therapeutics indicated for the treatment of rare blood related disorders. Hence, key players invest in research & development in order to address the unmet medical needs in the market. This, in turn, is projected to drive the global chronic immune thrombocytopenia market. For instance, a clinical trial sponsor by Octapharma for Panzyga is in phase 4 for chronic immune thrombocytopenia disease condition.
- Pharmaceutical companies operating in the rare diseases arena have received approvals from the FDA in the past few years. For instance, in April 2018, Rigel Pharmaceuticals, Inc. received approval for fostamatinib disodium hexahydrate tablets from the U.S. Food and Administration for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia. Moreover, the European Medicines Agency (EMEA) recognized chronic immune thrombocytopenia as an orphan disease, with nearly 50,000 adult patients with chronic ITP in the European Union. In January 2021, Sobi (Swedish Orphan Biovitrum AB) announced the European Commission (EC) approval for Doptelet for the treatment of primary chronic immune thrombocytopenia in adult patients. Hence, FDA approvals for various pharmaceutical companies is anticipated to boost market growth.
- Increase in awareness about blood related disorders and government initiatives to improve health care access in developing countries are expected create significant opportunities in the global market. However, the market is likely to be restrained by lack of knowledge in emerging markets and insufficient research funding.
- The COVID-19 pandemic has created bottlenecks in drug pipelines and supply chain activities in the health care sector. For market leaders, this has put unprecedented budget pressure on their spending. Multiple medicinal regimens, on the other hand, are being followed to cope with the pandemic situation. Efforts have been made across the globe to provide a dependable and effective treatment for COVID-19. Manufacturing and the supply chains were halted, resulting in losses to manufacturers, dealers, and consumers. Presently, the market is declining; however, as the condition improves demand is expected to rise due to growing health concerns.
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North America to Capture Major Share of Global Chronic Immune Thrombocytopenia Market
- North America is projected to dominate the global chronic immune thrombocytopenia market during the forecast period. Strategies adopted by key players are anticipated to augment the market in the region. For instance, Swedish Orphan Biovitrum AB (Sobi) acquired U.S.-based Dova Pharmaceuticals. The acquisition enabled Sobi to expand its product portfolio in hematology and strengthen commercial presence in the U.S.
- The chronic immune thrombocytopenia market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to surge in the number of patients with chronic immune thrombocytopenia. Moreover, key players are engaged in enhancing their investments in developing countries, which is likely propel the market in the region. For instance, in July 2019, Intas Pharmaceuticals Ltd. launched Romiplostim in India, under the name Romy, to reduce the treatment cost of chronic immune thrombocytopenia.
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Key Players Operating in Global Chronic Immune Thrombocytopenia Market
The global chronic immune thrombocytopenia market is fragmented due to the presence of global as well as local players. A number of these companies hold major share in their respective regions. Demand for chronic immune thrombocytopenia products has increased in emerging as well as developed markets. Growth strategies adopted by leading players are projected to drive the global market.
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