SEATTLE, May 10, 2021, (MEDGADGET) — Overview:
Cancer is a serious, chronic disease that can be controlled and treated with chemotherapy, targeted treatment, radiation therapy, hormone therapy, immunotherapy, stem cell transplantation, and other therapies. Cancer can be treated with a single therapy or a combination of stage-based treatments, type of cancer, and more. Chemotherapy is a form of treatment, in which drugs are used to stop or slow the growth of cancer cells. Chemical- thrombocytopenia is a major problem in chemotherapy-treated patients.
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Impact of Coronavirus (COVID – 19) Pandemic:
The COVID-19 epidemic is expected to hinder the growth of the global chemotherapy-induced thrombocytopenia therapeutics market over the forecast period. The COVID-19 epidemic and its adverse effects in various parts of the world have had an impact on the financial situation of businesses in all sectors. The private health sector is particularly affected by the COVID-19 epidemic. The lockdown has disrupted the supply, distribution and production of medicines around the world. Moreover, as a result of social distancing, footfall in clinics and health institutions have dropped by around 70% during this epidemic, which has led to a decline in the number of chemotherapy procedures, which has had a negative impact on global chemotherapy-induced thrombocytopenia therapeutics market growth.
However, the coronavirus epidemic has disrupted the development, production, clinical trials, and supply of drugs and other health products and has affected the growth of health care businesses in various companies around the world. According to the Indian Journal of Medical Sciences, on June 6, 2020, the COVID-19 epidemic affected clinical trials due to unavailability of laboratory staff, travel restrictions, availability of research products, and more. As a result, the impact of the COVID-19 epidemic is expected to limit global chemotherapy-induced thrombocytopenia therapeutics market growth during the forecast period.
The global chemotherapy-induced thrombocytopenia therapeutics market is estimated to be valued at US$ 1,168.4 million by 2020 and is expected to register a CAGR of 4.5% over the forecast period (2020-2027).
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Increase number of cancer cases is expected to stimulate growth of the global chemotherapy-induced thrombocytopenia therapeutics market over the forecast period.
Rising in cancer cases is expected to increase the number of chemotherapy treatments and therefore is expected to accelerate growth of the global chemotherapy-induced thrombocytopenia therapeutics market during the forecast period. For instance, in 2018, according to a World Cancer Research Fund International’s report, the number of cancer cases globally was around 17,036,901 in 2018.
Furthermore, growing authorization from regulatory agencies such as the U.S. The Food and Drug Administration (FDA) aiding in speedy approval by designating the orphan drug status to drugs targeted to benefit patients with rare disease, is expected to boost global chemotherapy-induced thrombocytopenia therapeutics market growth. For instance, in December 2019, Dova Pharmaceuticals, Inc., a subsidiary of Swedish Orphan Biovitrum AB, received the Orphan Drug Designation grant from the U.S. Food and Drug Administration (FDA) for avatrombopag, a treatment for chemotherapy-induced thrombocytopenia (CIT).
Lack of approved drugs or therapeutics for the chemotherapy- induced thrombocytopenia is a major factor that is expected to hinder global chemotherapy-induced thrombocytopenia therapeutics market growth. Currently, Oprelvekin-recombinant interleukin-11 (IL-11) is the only approved thrombopoietic agent by U.S. Food and Drug Administration for the treatment of chemotherapy-induced thrombocytopenia. It is indicated in adults with solid tumors and lymphomas associated with severe chemotherapy- induced thrombocytopenia.
Moreover, uncertainty of the development of clinical trials and treatment failure are key factors that are expected to hinder global chemotherapy-induced thrombocytopenia therapeutics market growth in the forecast period. For instance, in October 2020, Swedish Orphan Biovitrum AB announced results of its phase III study of Avatrombopag (Doptelet), an oral thrombopoietin (TPO) receptor agonist, in solid tumor cancer patients with chemotherapy-induced thrombocytopenia (CIT). The study failed to meet the primary end point of avoiding platelet transfusions chemotherapy dose reductions by 15% or greater and also failed to show efficacy in chemotherapy-induced thrombocytopenia.
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Among region, the global chemotherapy-induced thrombocytopenia therapeutics market is divided into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
North America is expected to dominate the global chemotherapy-induced thrombocytopenia therapeutics market over the forecast period, due to an increasing cancer cases in the region. For instance, in January 2019, according to the Cancer Treatment & Survivorship Facts & Figures 2019-2021 Report published by the American Cancer Society, Inc., the estimated number of cancer cases in U.S. was around 16,920,370.
- By Drug Class: Thrombopoietin Receptor Agonists, Thrombopoietic Agents, Others.
- By Route of Administration: Oral, Injectable.
- By Distribution Channel:Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies.
Some of the major players operating in the global chemotherapy-induced thrombocytopenia therapeutics market are Amgen Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, LLC (Johnson & Johnson), Mission Pharmacal Company, Partner Therapeutics, Inc., Mylan N.V., Janssen Global Services, Pfizer Inc., Jiangsu HengRui Medicine Co., Ltd., Myelo Therapeutics GmbH, and Dova Pharmaceuticals, Inc. (Swedish Orphan Biovitrum).
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