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Global Myelofibrosis Treatment Market to Grow at a Healthy Pace During 2020-2025, Aided by the Growing R&D Activities

According to a new report by EMR titled, ‘Global Myelofibrosis Treatment Market Report and Forecast 2020-2025’, the global market for myelofibrosis treatment is being aided by the growth of the global blood and bone marrow cancer treatment market is expected to grow at a CAGR of 7% in the forecast period of 2020-2025.

The ongoing research activities to develop novel targeted therapies by the biopharmaceutical companies are expected to aid the industry growth in the coming years, for instance, CTI BioPharma Corp (NASDAQ: CTIC) is studying Oral Pacritinib use in myelofibrosis treatment, while Gilead Sciences, Inc. (NASDAQ: GILD) is developing a molecule- CYT387 for treating primary myelofibrosis. Moreover, the growing investments by the governments to enhance the healthcare infrastructure, particularly in the developing nations like China and India are expected to further boost the market growth.

The introduction of enhanced reimbursement policies and growing investments to create awareness regarding cancer treatment by various government and private organisations are further propelling the industry growth. Incyte Corporation (NASDAQ: INCY), a leading player in the industry, offers a comprehensive patient assistance programme, IncyteCARES (Connecting to Access, Reimbursement, Education and Support) to connect patients with support and resources during the treatment with Jakafi, further offering access to trained nurse professionals and financial support and other resources for eligible patients. Jakafi is a first-in-class JAK1/JAK2 inhibitor approved by the U.S. Food and Drug Administration for treatment of people with intermediate or high-risk myelofibrosis, which is marketed by Incyte in the United States and by Novartis as Jakavi® (ruxolitinib) in the regions outside the United States.

Market Breakup by Drug Type, Treatment Type, End Use, and Regions:

  • By drug type, the industry can be segmented into hydroxyurea, immunomodulators, and JAK inhibitor, among others. 
  • On the basis of treatment type, the industry has been categorised into blood transfusion, chemotherapy, androgen therapy, and stem cell/bone marrow transplantation, among others.
  • Based on end use, the industry is divided into hospitals, clinics, and bone marrow transplant centres, among others. 
  • Region-wise, the global market for myelofibrosis treatment can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for myelofibrosis treatment is being driven by the growing investments by the major players in research and development activities.
  • The sedentary lifestyle and growing prevalence of genetic disorders are also boosting the product demand.
  • The industry is receiving a further boost with favourable government initiatives and ongoing clinical trials, particularly in emerging nations.
  • The rapid advancements in technology and improving the healthcare sector are further propelling the industry forward. 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for myelofibrosis treatment for the periods (2015-2019) and (2020-2025). 
  • The report also offers historical (2015-2019) and forecast (2020-2025) market information for the drug types, treatment types, end uses, and regional markets of myelofibrosis treatment.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global myelofibrosis treatment market are Incyte Corporation, Novartis AG, Celgene Corporation, Eli Lilly and Company, and Gilead Sciences, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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