Global Myelodysplastic Syndrome Treatment Market
With growing public awareness about myelodysplastic syndrome (MDS) and availability of new treatment options for MDS, the global myelodysplastic syndrome treatment market is poised to witness tremendous growth over the forecast period.
Early diagnosis of MDS is essential, as it significantly increases the quality of life of patients, reducing the chances of recurrent blood transfusion and in more severe cases, the evolution of the disease into leukemia. Government organizations and drug manufacturing companies across the world are majorly focusing on spreading awareness about the disease by conducting funding and conducting awareness programs. For instance, in October 2018, Grupo Biotoscana, a Latin American biopharmaceuticals company, conducted a campaign to honor the World Myelodysplastic Syndrome Awareness Day, celebrated on October 25 each year. GBT Grupo Biotoscana launched a campaign to raise awareness and educate about disease throughout the month.
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The global myelodysplastic syndrome treatment market was pegged at US$ 2,324.8 million in 2018, and is expected to exhibit a staggering 8.9% CAGR during the forecast period (2019-2027).
Increasing regulatory approvals for MDS therapeutics is a driving factor for the global market development
Increasing regulatory approvals is expected to drive growth of the global myelodysplastic syndrome treatment market over the forecast period. For instance, in November 2018, Lupin received the U.S. FDA approval for its Decitabine for Injection, 50 mg/vial, a single-dose vial, as well as a generic version of Otsuka Pharmaceutical’s Dacogen for Injection, 50 mg/vial, a single-dose vial.
Increasing approvals of Azacitidine in key regions around the world is expected to drive the growth of the Azacitidine segment of the global myelodysplastic syndrome treatment market in the following years. For instance, in February 2018, BeiGene, Ltd. announced the commercial availability of VIDAZ (azacitidine for injection) in China. VIDAZA is approved in China for patients with intermediate-2 / high-risk myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) with 20-30% bone marrow blasts, and chronic myelomonocytic leukemia (CMML). For the record, the drug is extensively marketed in China by BeiGene, under an exclusive license from Celgene Corporation.
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Increased complexity of MDS disease and its true diagnosis in patients act as a major hurdle in effective MDS treatment, which is expected to hamper the global market growth
MDS is said to represent several different conditions, as it is not just a single disease, but a group of several clinical characteristics. According to the data published in the Hematology journal of the American Society of Hematology Education Program in December 2017, the type and severity of hematopoietic dysfunction in MDS are highly variable, while the kinetics of disease progression are not quite predictable.
Moreover, genetic characteristics of MDS are powerfully associated with clinical phenotype. An enhanced understanding of the regulatory logic of MDS genetics may stimulate refined and biologically based diagnostic and monitoring schema that may be integrated into clinical practice.
Global Myelodysplastic Syndrome Treatment Market- Regional Analysis
On the basis of geography, the global myelodysplastic syndrome treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is estimated to dominate the global market throughout the forecast timeline, owing to the presence of major players and non-profit organizations in the region that are focused on launching new programs and awareness campaigns to educate people about various MDS treatments. According to the report, the U.S. market would expand significantly over the forecast period, owing to rising awareness among the U.S. population about MDS. Based on the American Cancer Society’s 2018 data, the number of people diagnosed with myelodysplastic syndrome (MDS) in the U.S. each year varies between 10,000 and 30,000, approximately 55,000 new cases are diagnosed each year.
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Europe is projected to witness fast-paced growth over the forecast period, owing to rising government initiatives for the diagnosis and treatment of the disease. For instance, in 2014, the European LeukemiaNet WP8 promoted a program aimed at developing and continuously updating evidence- and consensus-based guidelines to provide clinical practice recommendations for standardized diagnostic and prognostic procedures, as well as for an appropriate choice of therapeutic interventions in adult patients suffering from primary MDS.
Global Myelodysplastic Syndrome Treatment Market – Competitive Scenario
The well-known players operating in the global myelodysplastic syndrome treatment market include 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.
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