Global Anemia Treatment Drugs Market Is Expected To Grow At A CAGR Of 16.4% During The Forecast Period 2018 – 2026
According to the latest report published by Credence Research, Inc. “Anemia Treatment Drugs Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the Anemia Treatment Drugs market was valued at USD 23,155.8 Mn in 2017, and is expected to grow at a CAGR of 16.4% during the forecast period 2018 to 2026.
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Market Insights
According to the American Society of Hematology, anemia is the most common hematological disorder and affects more than 3 million Americans every year. The global scenario is more concerning because the World Health organization states that globally around 1.62 billion people gets affected by anemia, which is equal to 22.5% of the global population. In addition to that highest prevalence of anemia was found in the preschool-age children, and the lowest prevalence is in men.
Furthermore, the highest number of individuals affected with anemia after pre-school-age children are non-pregnant women which is around 31.2% of the total anemic population. The treatment specifically depends on the type of anemia and other complications associated with it. Currently, the treatment for anemia specifically focuses on supplements and chronic conditions are directly treated with blood transfusion, stem cell transplant or bone marrow transplant.
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The major types of anemia that are treated with drugs are Iron deficiency anemia, thalassemia, aplastic anemia, hemolytic anemia, sickle cell anemia, and pernicious anemia. In year 2017, iron deficiency anemia and sickle cell anemia dominated the market together accounting for nearly 60% of the market share.
The key factors responsible for growth of these two types of anemia are sickle cell anemia & aplastic anemia has highest prevalence, and the available drug treatment costs more compared to other types. These two types of anemia are expected to maintain their dominance throughout the forecast period due to expected market entry of more than 10 molecules during the forecast period from 2018 to 2026.
The anemia treatment drugs market comprises drugs such as vitamins & iron supplements, antibiotics, immunosuppressant, bone marrow stimulants, corticosteroids, gene therapy & iron chelating agents. In 2017, immunosuppressant & corticosteroids accounted for a combined market share of 58% due to key market driving factors such as rising prevalence of anemia, increasing awareness related to anemia with the initiative of government & non-government organizations, and incessant advancement in the research & development of anemia treatment industry.
The drug pipeline of anemia treatment is very strong and several prominent players are present along with their promising molecules. The most efficient molecules present in the drug pipeline are FG-4592/roxadustat (FibroGen), Daprodustat/GSK1278863 (GlaxoSmithKline), Molidustat/BAY85-3934 (Bayer), Rivipansel (Pfizer), Luspatercept (Celgene), OMS721 (Omeros Corporation), and LentiGlobin BB305 (bluebird bio). Thus, such as strong drug pipeline is expected to drive the overall anemia treatment drugs market significantly throughout the forecast period.
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Market Competition Assessment:
The anemia treatment drugs market is expected to grow significantly in the near future and there are several companies operating in this market and expected to enter the market. The overall competitive scenario is expected to observe a paradigm shift towards gene therapy & monoclonal antibody therapies. The key players present in this market are Pfizer, Inc., Amgen, Inc., Hoffmann-La Roche Ltd., Merck Sharp & Dohme Corp., Novartis AG, Janssen Pharmaceutical, Bayer AG, AMAG Pharmaceuticals, GlaxoSmithKline plc, Akebia Therapeutics, Vifor Pharma Management, Ltd., and FibroGen, Inc. among others.
Key Market Movements:
• Increasing prevalence of anemia and its types in developed as well as developing countries
• Rising awareness in developing countries due to initiative and programs introduced by government and non-government organizations
• Incessant development in the field of research and development in anemia treatment
• The major competition for the available drugs is from stem cell transplantation and upcoming pipeline drugs in the near future
Chris Smith
Credence Research Inc
gefen.c@credenceresearch.com
https://www.credenceresearch.com