Polycythemia Vera Therapeutics Market Analysis By Disease Type(Primary Polycythemia Vera, Secondary Polycythemia Vera), By Drug Class(Antimetabolite, Kinase Inhibitors, Alpha Interferon, Selective Serotonin Reuptake Inhibitors), By Route of Administration(Oral, Intravenous, Intramuscular, Subcutaneous), By Distribution Channel(Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) & Forecast 2023 - 2032

The global polycythemia Vera therapeutics market size was valued at USD 1,500 million in 2021 and is projected to reach around USD 2,200 million in 2030 exhibiting a CAGR of 4.5% in the forecasted period. The rising incidence of polycythemia Vera, growing approval of new products, and boosting collaborations and acquisitions between major players are the main reasons that boost the growth of the global polycythemia Vera therapeutics market. On the other hand, very high cost of the drugs, stringent pricing and regulatory policies are expected to hinder the growth of polycythemia Vera therapeutics market growth.
In polycythemia Vera, the cells cannot transfer enough oxygen if the blood travels too slowly or clots. This situation has the probability to result in catastrophic results such as a stroke, heart attack, or heart failure. PV distresses nearly 22 persons out of each 100,000. It is most normally diagnosed in men above the age of 60, as per doctors. Henceforth, the growing prevalence of diseases is projected to boost the growth of the market. The polycythemia Vera therapy industry is expected to develop as people become more attentive of the disease and biotechnology corporations gain a better acceptance of the disease.
Improved risk of other ailments, augmented knowledge of the disease, and amplified healthcare expenditure about the globe will all subsidize to market growth. The enhanced focus on directed medicines, along with favourable government strategies, will augment the number of prospects that will begin to improve in the polycythemia Vera therapeutics market through the estimated period. The polycythemia Vera therapeutics market will be constrained by severe pricing and compensation laws, and the high cost of medicines. In the anticipated period, the polycythemia Vera therapeutics market is anticipated to increase. The launch of medicines such as Givinostat, PTG-300, IMG-7289, and others, and an upsurge in polycythemia Vera patients, would assist in the market's growth.
Growing environmental strain, which is important to augmented exposure to harmful materials, is expected to boost the growth of the polycythemia Vera therapeutics market, as it may result cell mutation, which is among the major factors of polycythemia Vera disease. Scientists are intending their efforts on determining novel therapeutics for the cure of polycythemia Vera, which is estimated to boost the polycythemia Vera therapeutics market.
Pharmaceutical and biotech companies along with governments about the globe are operational in address the COVID-19 eruption, from assisting the growth of vaccines to scheduling for medicine supply chain issues. Presently, approximately 115 vaccine candidates and 155 molecules are in the R&D pipeline. Furthermore, usually used drugs such as hydroxychloroquine have observed a dramatic upsurge in demand for controlling COVID-19. This high demand for these drugs has offered huge openings for companies of COVID-19 management drugs, as many advanced countries are facing deficiency of these drugs. Therefore, the pharmaceutical and biotechnology industry is anticipated to observe a substantial growth in the future, due to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is projected to have a major impact on the polycythemia Vera therapeutics market.
Drug Class Insights
Between drug class, kinase inhibitors segment dominated with the largest market share in 2021, due to market players aiming on attaining drug approvals. For example, in June 2019, Sierra Oncology, Inc. declared that the U.S. Food and Drug Administration (FDA) has allowed Fast Track designation to momelotinib, a JAK1, JAK2, and ACVR1 inhibitor, for the handling of patients with intermediate/high-risk myelofibrosis related to polycythemia Vera who have formerly received a JAK inhibitor.
Route of Administration Insights
The oral method of administration is the most regularly used mode of administration. Oral administration is the desired method of medicine administration, and the technique for handling a drug's release rate and bioavailability has advanced considerably. Oral distribution of small molecule medicines can be completed in a range of ways though proteins, peptides, and vaccines pose hurdles for pharmaceutical companies. Novel techniques that can be used to direct a broader range of medicines via the oral route are necessary. Innovative oral delivery skills can expand a drug's efficiency even when the similar amount is spent, and these and other developments decrease manufacture costs, dropping the cost of therapy for patients. These are the techniques that are moving both the pharmaceutical business and the patient. Moreover, several patients do not stick to a recommended treatment regimen since it is difficult to manage or the drug tastes bad. As a consequence, it's difficult for pharmaceutical companies to warranty that drugs are directed suitably.
Region Insights
North America remains to rule the market, due to maximum number of polycythemia Vera incidences between all the countries coupled with developed diagnosis rate owing to existence of strong infrastructure. An interferon-alpha 2b stimulant which goes by the name of “Besremi” has lately been permitted by G7 countries, and is specified to enter the market as the primary line of defense against polycythemia Vera shortly. Among several polycythemia Vera developing therapies dedicated on second line defense, Protagonist Therapeutics and Imago Biosciences are in line to arrive the market with their recently manufactured products. Jakafi is composed to establish and preserve dominance in the market, thus primarily aiming on the second line defense machineries.
Polycythemia Vera has the maximum prevalence in the U. S., with 156,291 cases stated in 2017. As per the PV epidemiological model, asymptomatic and symptomatic incidences donated 62,916 and 94,374 cases, respectively, to the total inhabitants of 157,290 cases in the U.S. henceforth, increasing cases in U.S. is expected to boost the treatment market in North America. Moreover, Germany has the maximum symptomatic prevalence people among the European five nations.
Key Companies Insights
The market for polycythemia Vera therapeutics is moderately competitive. With the rising applications of polycythemia Vera therapeutics, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the Polycythemia Vera therapeutics market, ultimately boosting the market growth. Some of the key companies working in the global polycythemia Vera therapeutics market include:
• Pfizer Inc.
• Galena Biopharma
• Bristol-Myers Squibb Company
• Novartis AG
• Eli Lilly and Company
• PharmaEssentia Corporation
• Bayer AG
• Mylan N.V.
• Teva Pharmaceuticals Industries Ltd
• GlaxosmithKline plc
• ANP Technologies, Inc.
• F. Hoffmann-La Roche Ltd.
• Gilead Sciences, Inc.
• Karus Therapeutics Limited
• Miragen Therapeutics, Inc.
• Other players
Some of the Recent Developments:
• In May 2021, PharmaEssentia USA Corporation, declared the resubmission of its Biologics License Application (BLA) to the U.S. FDA, hunting approval for ropeginterferon alfa-2b-njft for the management of polycythemia Vera (PV).
• In December 2020, Incyte Corporation and Cellenkos, Inc. declared the development partnership to examine the blend of ruxolitinib (Jakafi) and CK0804, Cellenkos’ cryopreserved CXCR4 enriched, allogeneic, umbilical cord blood-derived T-regulatory cells, in patients with myelofibrosis (MF).
Segments
By Disease Type
• Primary Polycythemia Vera
• Secondary Polycythemia Vera
By Drug Class
• Antimetabolite
• Kinase Inhibitors
• Alpha Interferon
• Selective Serotonin Reuptake Inhibitors
• Others
By Route of Administration
• Oral
• Intravenous
• Intramuscular
• Subcutaneous
By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt