Essential Thrombocythemia Market Trends

Growth Drivers

• Government Initiatives for Rare Diseases –The US National Institutes of Health and the European Commission, launched a joint commission in 2011, International Rare Disease Research Consortium (IRDiRC). Currently, the consortium has 60 organizations all across the world focusing on rare diseases. Moreover, IRDiRC has targeted new plans to reach nearly new therapies for rare diseases by the end of 2027. These initiatives can expedite the review and approval process for orphan drugs, which are drugs developed specifically for rare conditions like ET. Moreover, streamlined regulatory pathways enable faster access to innovative therapies, encouraging investment and development in the ET market.
• Continuous Development of Treatment– The development of new and more effective treatments for ET leads to improved patient outcomes. Moreover, the availability of a diverse range of treatment options is crucial for addressing the varying need of ET patients. For instance, Bomedemstat Tosylate is in the second phase of development and it is primarily used for the treatment of essential thrombocythemia, and post-essential thrombocythemia myelofibrosis (PET-MF).  
• Higher Prevalence in Old Adults – In the world, there were around 1 billion old adults in 2019. The population share is expected to rise and reach nearly 1.4 billion and 2.1 billion by 2030 and 2050, respectively. Aging is associated with an increased risk of developing essential thrombocythemia. As individuals age, the accumulation of genetic mutation and exposure to environmental factors over time may contribute to the development of ET. It is most commonly diagnosed in the sixth and seventh decade of an individual’s life.

Challenges

• Lack of Opportunities for Clinical Trials – Conducting clinical trials for rare diseases like ET can be challenging due to the relatively small patient population and the need for specialized centers and expertise. Limited clinical trial opportunities can slow down the development of new therapies and hinder advancements in the field
• Delayed diagnosis and treatment
• Limited Treatment Options