Essential Thrombocythemia Market Snapshot (2023 to 2033)
The essential thrombocythemia market is anticipated to grow to a valuation of US$ 865.36 million in 2023 and is estimated to exhibit a compound annual growth rate (CAGR) of 5.8% from 2023 to 2033 and reach US$ 1,520.74 million in 2033.
Essential thrombocythemia impacts 1 to 24 individuals per million worldwide. The increasing popularity of drugs such as aspirin among patients is a significant motivating factor. The growing incidence of essential thrombocythemia in children presents new opportunities for market participants in the essential thrombocythemia therapeutics market.
Data Points
Key Statistics
Expected Market Value (2023)
US$ 865.36 million
Anticipated Forecast Value (2033)
US$ 1,520.74 million
Projected Growth Rate (2023 to 2033)
5.8% CAGR
The increasing incidence of essential thrombocytosis and the rising number of geriatric patients are the key variables driving overall growth. Moreover, surging healthcare spending, rising federal funding, and burgeoning approaches by government and private sectors to promote awareness about the rare condition and its accessible treatment are aspects that will influence the essential thrombocytosis market.
The huge rise in the incidence rates of essential thrombocythemia, as well as the global upsurge in the aging populations, in addition to ongoing research and development for the diagnosis of Essential thrombocythemia, may be significant factors influencing the expansion of this market.
Treatment options for essential thrombocythemia are being developed, and many are presently under investigation. This is the most important factor influencing overall growth.
Hydroxyurea is generally regarded as the first-line rehabilitation. The rising prevalence of sickle cell anemia among infants is projected to boost the worldwide hydroxyurea market over the coming years. As reported by the journal PLOS Medicine, approximately 400,000 babies will be delivered with sickle cell anemia each year, with the number expected to rise by 30% worldwide by 2050. This factor is expected to further propel the essential thrombocythemia market.
In 2022, the research organizations segment had a market share of more than 65%. Essential thrombocythemia drugs are primarily used in research and the treatment of rare diseases. Due to various expanding medical facilities, economic expansion emergence, and the evolution of the private medical sector, there is optimism for progress in the essential thrombocythemia treatment marketplace in developing nations. The citizens of these nations are also becoming more aware.
North America is dominant in the essential thrombocythemia drug industry. With regard to profits, the USA has a significant share of the essential thrombocythemia drugs market, particularly in North America. The essential thrombocythemia drug market in Europe is increasing rapidly owing to an aging population.
European LeukemiaNet advises hydroxycarbamide (HC) as first-line treatment, but the warning is advised in those above the age of 40. Anagrelide (Xagrid) is approved in Europe for patients with ET who are insensitive or resistant to HC. As a result of the availability of treatments, the European market is expected to expand significantly.
China, India, and other emerging economies produce the majority of the pharmaceutical active substances used in drug production. This is anticipated to push the Asia Pacific market at a high growth rate (CAGR) over the forecast period.
The market for essential thrombocythemia is expanding as various key players are making the market more productive. The top players are strategic heavyweights, with a focus on effective deployment and augmentation.
The prospect of essential thrombocythemia treatment is likely to include a variety of novel therapeutics. It is expected that only a few innovative discoveries will be approved during the projected timeline. Whereas the market's expansion has been moderate in the past, companies are continuing to evaluate innovative treatments and mixture regimens that could significantly improve therapeutic efficacy. Aspirin, a medication utilized to cure essential thrombocythemia, is projected to increase considerably by 2033.
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Essential Thrombocythemia Market Overview
Essential thrombocythemia is a rare disease in which your body produces excessive blood platelets. Platelets also called thrombocytes are the blood cells responsible for blood clotting. Human blood contains platelets in the range of 150,000 to 450,000 per microliter.
Essential thrombocythemia occurs due to mutation in JAK2, and CALR genes. These genes guide in making of proteins that are essential for the growth and division of blood cells. These mutations lead to abnormal hyperactive signaling of a pathway called the JAK pathway. Leading to Essential thrombocythemia.
Gene mutations in Essential thrombocythemia are somatic mutations and occur in initial blood-forming cells. People with Essential thrombocythemia experience abnormal blood clotting. The abnormal blood clotting is called thrombosis.
These clots can block blood flow in the brain causing stroke. Clots can also move to the lungs causing chest pain and difficulty in breathing. Thrombosis can occur in the legs leading to leg pain. People with Essential thrombocythemia may experience abnormal bleeding in the form of nosebleeds, bleeding gums, or bleeding within the gastrointestinal tract.
Many other signs and symptoms include weakness, fatigue headache, burning, and a ticking sensation on the skin. Essential thrombocythemia is more common in people above the age of 50 years.
The diagnosis of Essential thrombocythemia is based on blood tests like complete blood count, blood smear investigation, genetic screening, and bone marrow testing. Some patients may not show symptoms but have an increased platelets count.
Life expectancy can be normal. Medical treatment for Essential thrombocythemia depends on the severity of the disease. The gold standard treatment for thrombocythemia is Aspirin. It decreases the symptoms caused by increased platelet count.
Other Drugs like hydroxyurea, anagrelide, and interferon alfa-2b are also popular in the treatment. Very rarely plateletpheresis is the removal of platelets done in Essential thrombocythemia. Asymptomatic patients need not require any treatment.
A drug called IMG-7289 is under phase 2 clinical trial for the treatment of Essential thrombocythemia. Essential thrombocythemia affects around 1 to 24 per 1 million people worldwide. The rate of occurrence of essential thrombocythemia in women is 1.5 times higher than in men.
North America is the leader in the essential thrombocythemia drug market. With respect to revenue, the USA has a major share of the essential thrombocythemia drugs market, especially in North America. The essential thrombocythemia drug market is growing rapidly in Europe due to the growing geriatric population.
There is a hope of growth in the essential thrombocythemia treatment market in developing countries because of growing healthcare infrastructure, economic growth advancement, and development of the private healthcare sector. There is also an increase in awareness among people in these countries.
Essential thrombocythemia has a Potential for new treatments under development and many are currently being tested. This is the major factor contributing to its market growth.
The increase in the prevalence rate of Essential thrombocythemia across the world and the increase in the geriatric population worldwide and ongoing research and development for Essential thrombocythemia treatment can be major drivers for the growth of this market. However, the cost of the diagnosis especially genetic screening is a major setback for its market growth.
Some of the key market players in Essential thrombocythemia treatment market are
