Essential Thrombocythemia Market size was over USD 871.05 Million in 2023 and is expected to exceed USD 1.79 Billion by the end of 2036, witnessing over 5.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of essential thrombocythemia is evaluated at USD 904 Million. The market growth is primarily owing to rising cases of essential thrombocythemia (ET). Essential thrombocythemia impacts 1 to 24 individuals among every 1 million people, worldwide. This condition is characterized by the overproduction of platelets in the bone marrow, leading to an increased risk of blood clots. As more people are diagnosed with ET, the demand for effective treatment options and therapies to manage the condition increases, thereby driving the market.
Besides this, special programs by regulatory bodies to facilitate drug development will be an essential factor for essential thrombocythemia market growth. The FDA is putting together a set of four approaches to patient-focused drug development (PFDD) guidelines to aid in the advancement and implementation of organized methods for gathering and utilizing reliable and meaningful patient and opinions of caretakers that can facilitate better drug development and regulatory decision-making. Special programs like these assess the safety and efficacy of new treatments through rigorous clinical trials. Once approved, these drugs can be marketed and made available to patients, driving the ET market by expanding treatment options.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
5.7% |
|
Base Year Market Size (2023) |
USD 871.05 Million |
|
Forecast Year Market Size (2036) |
USD 1.79 Billion |
|
Regional Scope |
|
Treatment Type (Interferon, Anagrelide, Hydroxyurea, Aspirin)
The hydroxyurea segment in the essential thrombocythemia market is anticipated to gain the largest revenue share of about 55% in the year 2036. The rising cases of sickle cell anemia will grow the segment’s growth. Hydroxyurea is considered a disease-modifying therapy for sickle cell anemia. Sickle cell anemia leads to secondary essential thrombocythemia. In sickle cell anemia, chronic inflammation and tissue damage associated with vaso-occulusive crises can stimulate the production of platelets. This can lead to elevated platelet levels in individuals. Every year, approximately 300,000 infants worldwide are born with a serious hemoglobin disorder. Moreover, roughly 250 million people worldwide are currently carriers of the gene responsible for sickle cell disease and associated hemoglobin disorders.
End User (Hospitals, Research Organizations, Specialty Clinics)
The research organization segment is expected to hold 46% share of the global essential thrombocythemia market in the year 2036. Moreover, the segment was responsible for around 65% of the market share in 2022. Researchers are leveraging innovative laboratory methods, genetic profiling, and molecular diagnostics to better understand the genetic and molecular basis of ET. These advancements not only aid in accurate diagnosis but also provide insights into disease progression and potential therapeutic targets. Research organizations are focused on identifying new therapeutic targets for essential thrombocythemia. By unraveling the underlying molecular and genetic abnormalities associated with ET.
Our in-depth analysis of the global market includes the following segments:
|
Treatment Type |
|
|
End User |
|
North America Statistics
The essential thrombocythemia market in North America is projected to be the largest with a share of about 35% by the end of 2036. The market growth in the region is mostly driven by the rising count of people living with ET. In the United States, the average yearly prevalence of newly detected cases of ET for every ethnic group and race is roughly 2.2 per 100,000 population. Furthermore, the higher investment influx and development of biotech and pharmaceutical sectors are further driving the industry expansion in North America. Since, ET requires long-term management, often with the use of medication and these medications rely on the availability of high-quality active pharmaceutical ingredients (API), raw materials, and antibiotics. The Department of Health and Humans services invested USD 40 million to drive the growth of biopharmaceuticals in the United States.
European Market Forecast
The European essential thrombocythemia market is expected to be the second largest, with a share of around 24% by the end of 2036. According to the European Commission, by December 2021, European Union-based enterprises have raised their investments in health research and development by up to 10.3%. Increased investment in health R&D enables researchers to gain a deeper understanding of ET, including its underlying causes, mechanism, and risk factors. This knowledge contributes to the development of more personalized therapies for ET.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?