Myelodysplastic syndrome (MDS) is a group of malignant hematopoietic stem cell disorders characterized by ineffective hematopoiesis and peripheral blood cytopenias. MDS treatments aims to slow or stop the progression of the disease. Treatment options include chemotherapy drugs, targeted therapies, hematopoietic stem cell transplantation and supportive care therapies. Chemotherapy drugs are the most widely used treatment and includes azacitidine, decitabine and lenalidomide. Targeted therapies involving growth factors that stimulate blood cell production such as erythropoietin and interleukin 11 are also employed.
The global Myelodysplastic Syndrome Treatment Market is estimated to be valued at US$ 3,265.6 million in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of myelodysplastic syndrome is one of the major trends influencing market growth. According to the National Cancer Institute, nearly 10,000 new cases of MDS are diagnosed each year in the United States. Factors such as genetic mutations, smoking, obesity, excessive alcohol consumption and previous treatment with chemotherapy or radiation increase the risk of developing MDS. Increasing exposure to these risk factors is contributing to the rising disease burden. Another key trend is the fast-track approval system for MDS drugs by regulatory agencies which is encouraging drug development activity. The FDA and EMA have designated fast-track status for several pipeline drugs providing an opportunity for early market introduction. This is expected to widen treatment options and further fuel market revenue over the forecast period.
Threat of new entrants: The threat of new entrants is moderate, as the biotechnology sector has a stringent approval process. The market also requires significant R&D investments and clinical trials.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as the large pharma companies have high bargaining power due to their large sized operations and ability to develop new treatments.
Bargaining power of suppliers: The bargaining power of suppliers is low as the raw material suppliers have less influence over pricing due to the availability of substitute materials.
Threat of new substitutes: The threat of substitutes is high as alternative treatments are being researched for MDS.
Competitive rivalry: The competitive rivalry is high due to the presence of key biopharma companies producing novel drugs and combination therapies.
The global Myelodysplastic Syndrome Treatment market is expected to witness high growth.
Regional analysis comprises the North America region dominates the global market and is expected to grow at a CAGR of 8.4% during the forecast period. Europe is also a major region in the global market supported by increasing research funding.
Key players operating in the Myelodysplastic Syndrome Treatment market are Celgene Corporation, Otsuka Pharmaceutical Co., Ltd. Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, Dr. Reddy’s Laboratories Ltd., Mylan NV, Cipla Limited, Acceleron Pharma, Inc., Aprea Therapeutics, FibroGen Inc., Onconova Therapeutics Inc., and Geron. The key players are focusing on collaborations and pipeline drug development to strengthen their market position. For instance, in 2021, Acceleron Pharma collaborated with Merck & Co. to evaluate sotatercept in combination with ruxolitinib.
- Source: Coherent Market Insights, Public sources, Desk research
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