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Myelofibrosis Market : Technological Advancements To Watch Out For Near Future; Global Industry Analysis 2024

Press Release   •   Jan 27, 2017 18:21 IST

Global Myelofibrosis Market: Brief Description

Myelofibrosis is a very rare type of bone marrow cancer and is related to group of blood cancers termed as myeloproliferative neoplasms. Other types of blood cancers included in this category are polycythemia vera and essential thrombocythemia and all these three diseases are closely related to each other. This is the type of neoplasm in which bone marrow cells, that are responsible for the production of blood cells, function abnormally leading to fibrous scar tissue formation ultimately causes enlargement of spleen and liver along with severe anemia, extremely low platelet count, weakness and fatigue. The mutation of genes that are responsible for cell signaling pathway called the JAK pathway is the important reason for developing this cancer. A simple blood test along with bone marrow biopsy can diagnose myelofibrosis. The treatment options available for the myelofibrosis are very limited and almost all are symptomatic, however (JAK inhibitor) drugs such as ruxolitinib approved by FDA form the major line of defense against myelofibrosis.

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Global Myelofibrosis Market: Trends and Prospects

The neoplasm, myelofibrosis is very rare and it is generally affects at later stage of life (above 50 years) bur not restricted to this age group. According to report published by The Leukemia & Lymphoma Society (LLS) in United States, myelofibrosis occurs in about 1.5 out of every 100,000 people in the United States annually. The incidences of myelofibrosis are also high in developing economies. All these facts represent demand for the various treatment options for myelofibrosis globally in coming future. The heavy investment in research and development, suitable reimbursement conditions and growing number of patients living with myelofibrosis may drive the growth of the market. On the other hand high cost involved in treatment and limited awareness may hinder the growth of the overall market. Currently there are many research projects under study that are focused on developing specific treatment for myelofibrosis. Celgene Corporation exploring the use of pomalidomide in myelofibrosis and completed with phase II studies, Incyte Corporation working on alternative dosing strategy of ruxolitinib in patients with myelofibrosis, oral pacritinib usage in myelofibrosis treatment is under study by CTI BioPharma, Gilead Sciences developing molecule CYT387 for treatment of primary myelofibrosis. At the same time Novartis, the innovator of ruxolitinib trying to explore the usage of drug in different phases of myelofibrosis.

Global Myelofibrosis Market: Regional Outlook

Myelofibrosis market can be segmented according to different categories such as regional geography and categories of drugs available for the treatment. Geographically, this market can be segmented in four regions namely North American, Europe, Asia-Pacific and Rest of the World, out of all these segments North America region will highest contribution in terms of value because of high awareness, higher percentage of total income spent on healthcare compared to other economies and appropriate reimbursement circumstances. Followed by this, Europe, Asia-Pacific and Rest of the World respectively could be major segments of the market. The market can also be segmented according to categories of drugs available to treatment options such as immunomodulators, hydroxyurea, JAK inhibitor (Ruxolitinib) and others.

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Global Myelofibrosis Market: Companies Mentioned in the Report

Currently many established players in pharmaceuticals market which are either offering or developing drugs for myelofibrosis. Out of these companies, Novartis, Bristol-Myers Squibb, Roche, Merck & Co., Eli Lilly, Celgene, Amgen, Incyte Corporation and Gilead Sciences are leading contributors in this market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.