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Idiopathic Thrombocytopenic Purpura Therapeutics Market

Idiopathic Thrombocytopenic Purpura Therapeutics Market

Idiopathic Thrombocytopenic Purpura Therapeutics Market Analysis by Product Type (Corticosteroids, Intravenous Immunoglobulins, Anti-D Immunoglobulin, Thrombopoietin Receptor Agonists), by Treatment Type (Oral, Splenectomy-based), by Distribution Channel & Regional Forecast 2022-2032

Idiopathic Thrombocytopenic Purpura Therapeutics Market
FACT7449MR
  • Jun-2022
  • List of Tables : 72
  • List of Figures : 148
  • 170 Pages
  • Healthcare

Idiopathic Thrombocytopenic Purpura Therapeutics Market Outlook (2022-2032)

The global idiopathic thrombocytopenic purpura therapeutics market was valued at US$ 587.0 Million in 2021, and is projected to be valued at US$ 620.5 Million in 2022. During the 2022-2032 period of assessment, demand is expected to rise at a 5.0% value CAGR, likely to reach US$ 1.0 Billion by the end of the said forecast period.

Overall, the idiopathic thrombocytopenic purpura therapeutics landscape is poised to yield an absolute dollar opportunity worth US$ 390.9 Million until 2032. Sales of Idiopathic Thrombocytopenic Purpura Therapeutics will continue to flourish, with a documented CAGR of 5.6% from 2015-2021.

Report Attributes Details

Anticipated Base Year Value (2021)

US$ 587.0 Million

Expected Market Value (2022)

US$ 620.5 Million

Projected Forecast Value (2032)

US$ 1.0 Billion

Global Growth Rate (2022-2032)

5.0% CAGR

Growth Rate of the U.S (2022-2032)

4.8% CAGR

Expected Market Value of China (2032)

US$ 72.7 Million

Dollar Opportunity in Japan (2022-2032)

US$ 16.8 Million

Key Idiopathic Thrombocytopenic Purpura Therapeutics Service Providers

  • Hoffmann-La Roche
  • Novartis AG
  • GlaxoSmithKline
  • Eisai
  • Grifols Biologicals Inc.
  • Baxter
  • Bristol-Myers Squibb
  • CSL Behring
  • Sandoz S.A
  • Contract Pharmaceutical

Moreover, corticosteroids, by product type, and retail pharmacies, in terms of distribution channel, will continue to remain the primary beneficiaries of the idiopathic thrombocytopenic purpura therapeutics market, likely to register CAGRs worth 5.0% and 5.1% respectively, from 2022 to 2032. The U.S will likely represent the highest share for the idiopathic thrombocytopenic purpura therapeutics market.

Interested to Procure The Data

Idiopathic Thrombocytopenic Purpura Therapeutics Market Revenue Key Trends

The potential commercialization of new products such as Avatrombopag by Eisai and IVIG3I 10% by Grifols, is one of the major key trends that is expected to fuel the growth of the Idiopathic Thrombocytopenic Purpura Therapeutics market during the forecast period. Avatrombopag has demonstrated positive clinical trial results and is expected to present patients with an alternative second line of treatment upon commercialization.

Increasing demand for combination therapies therapy is expected to fuel the growth of the Idiopathic Thrombocytopenic Purpura Therapeutics market. Clinical evidence suggests that combination therapies entail relatively lower side effects, are cost-effective, and display higher response rates in patients. Some major combination therapies include corticosteroids and IVIG, rituximab and dexamethasone, TPO-RA (eltrombopag), and dexamethasone.

Splenectomy also plays an integral role in shaping the dynamics of the ITP therapeutics market. The procedure refers to the removal of the spleen and is aimed at reducing the amount of anti-platelet antibodies. Two therapeutic classes most affected by splenectomy are TPO-RA and anti-D.

Increasing Monetary Support from Government Organizations and Private Firms

The tertiary and secondary lines of treatment are costly and enforce considerable financial burden to the affected patient suffering from immune thrombocytopenia and associated family members. The government organizations and private firms are proactively collaborating to surge patient access and regulate the drug prices for the management of idiopathic thrombocytopenic purpura. This rising financial support from government and private companies are likely to fuel the immune thrombocytopenia market growth.

In European countries like Germany and France, healthcare reimbursement policies are patient-focused. Around 80% of European countries offer unpaid public health care systems. Combined with this, support organizations like ITP Support Association enable patient alleviate the monetary burden via donations and financial support.

Rising Prevalence of ITP Globally, and Increasing Awareness of the Disorder in the Developed Countries

Rising prevalence of immune thrombocytopenia purpura across different regions of the globe is anticipated to fuel the demand for treatment of the disorder. Increasing incidences of acute as well as prolonged chronic immune thrombocytopenia are projected to drive the acceptance of therapeutics treatment globally during the forecast period.

Increasing awareness about healthcare and rare diseases among patient population and healthcare professionals in emerging countries is anticipated to positively boost the immune thrombocytopenia market growth during the analysis period.

Non-government organizations like Platelet Disorder Support Association and Immune Thrombocytopenia Support Associations are robustly participating in informing the population concerning rare blood disorders like ITP. These initiatives by non-government organizations are projected to augment the therapeutic demand of immune thrombocytopenia drugs market.

Key Challenges Prevalent in the Global Idiopathic Thrombocytopenic Purpura Therapeutics Market

Side Effects of Corticosteroids and Lack of Diagnostic Facilities

The major restraint for the idiopathic thrombocytopenic purpura therapeutics market includes the side effects of corticosteroids or drugs used. Moreover, lack of diagnostic facilities (no facilities for diagnostic test in rural areas), in developing countries is also impeding the growth of the Idiopathic Thrombocytopenic Purpura Therapeutics market during the forecast period.

Lack of Awareness and High Cost of Treatment

Another restraint for idiopathic thrombocytopenic purpura therapeutics market is lack of awareness of disease amongst people, and high cost of treatment in low-income countries. In addition, non-adherence of patients to combination treatment has also been a major part in restraining for idiopathic thrombocytopenic purpura therapeutics market over the analysis period.

Idiopathic thrombocytopenic purpura therapeutics market forecast by Fact.MR

Comparative View of Adjacent Idiopathic Thrombocytopenic Purpura Therapeutics Market

Idiopathic Thrombocytop-nic Purpura Therapeutics Market :

Attributes

Idiopathic Thrombocytop-nic Purpura Therapeutics Market

CAGR

(2022-2032)

5.0%

Market Value

(2032)

US$ 1.0 Billion

Growth Factor

Rising prevalence of immune thrombocytopenia purpura across different regions of the globe is anticipated to fuel the demand for treatment of the disorder.

Opportunity

The government organizations and private firms are proactively collaborating to surge patient access and regulate the drug prices for the management of idiopathic thrombocytopenic purpura, which in turn is anticipated to fuel the market growth.

 

Key Trends

The potential commercialization of new products such as Avatrombopag by Eisai and IVIG3I 10% by Grifols, is one of the major key trends that is expected to fuel the market growth.

Corticosteroids Market :

Attributes

Corticosteroids Market

CAGR

(2022-2032)

4.3%

Market Value

(2032)

US$ 2.7 Billion

Growth Factor

The increasing incidence of chronic diseases is one of the major factors expected to boost the market growth.

Opportunity

The surging investment in research and development is expected to fuel the market growth.

Key Trends

The uninterrupted incidence and prevalence of chronic diseases lead to the growth of the Corticosteroids market during the forecast period.

Intravenous Immunoglobulin Market :

Attributes

Intravenous Immunoglobulin Market

CAGR

(2022-2032)

7.5%

Market Value

(2032)

US$ 22.5 Billion

Growth Factor

A significant rise in geriatric population & number of hemophilic patients is expected to accelerate the market growth.

Opportunity

Improved technologies pertaining to the immunoglobulin production are expected to propel the market growth.

Key Trends

A surge in prevalence diseases such as chronic inflammatory demyelinating polyneuropathy (CIDP), hypogammaglobulinemia, and others is expected to boost the market growth.

Country-wise Analysis

What is the Growth Outlook for Idiopathic Thrombocytopenic Purpura Therapeutics in the U.S?

The demand for Idiopathic Thrombocytopenic Purpura Therapeutics market in the U.S is likely to expand at a 4.8% value CAGR until 2032, forecast to yield an opportunity worth US$ 368.8 Million.

Factors such as higher access to treatment of ITP, larger presence of key market players, advanced healthcare infrastructure, rising awareness of rare blood disorders are expected to positively influence immune thrombocytopenia market in the US.

In addition, increasing infrastructure facilities and higher investments in the development of novel therapeutic molecules for management of ITP in the US are also prominently anticipated to boost the adoption of immune thrombocytopenia treatment in the country during the forecast period.

How do Growth Prospects Appear in the Chinese Market?

China is projected to witness considerable growth in the market due to increasing financial and monetary support from non-government and government organizations towards ITP patients.

Rapidly evolving healthcare infrastructure in China is projected to offer massive potential for increased adoption of the immune thrombocytopenia treatment during the forecast period. China is expected to reach US$ 72.7 Million by 2032, growing at a 4.4% CAGR.

Is Japan likely to emerge as an Opportunistic Idiopathic Thrombocytopenic Purpura Therapeutics Industry?

Japan is also expected to witness a significant growth in terms of market value. Rising awareness about idiopathic thrombocytopenic purpura in the country is expected to propel the demand for thrombopoietin receptor agonist-based treatment during the forecast period. Patients in China are expected to adopt intravenous drugs like TPO-RA and immunoglobulins to improve the disorder.

Additionally, the prospective launch of TAVALISSE in the Japanese market by 2022 could prove to be a driving factor for others treatment segment. Japan is expected to grow at a CAGR of 3.4% and is expected to represent a market share of US$ 58.7 Million by 2032.

Country-wise Forecast CAGRs in the Idiopathic Thrombocytopenic Purpura Therapeutics Market

Country CAGR

US

4.8%

China

4.4%

Japan

3.4%

UK

3.7%

South Korea

3.0%

Category-wise Insights

By Product Type, which Category’s Demand will Rise Rapidly?

Corticosteroids to be Top Offering in the Coming Years

By product type, corticosteroids are likely to remain the top category, growing at a value CAGR of 5.0% from 2022-2032. Corticosteroids, is expected to hold a significant share of the market in the developing countries of Asia Pacific and Latin America, owing to higher adoption and cost-effectiveness of the drug class.

In addition, due to the increasing patient population suffering from immune thrombocytopenia, there is higher demand for different types of treatment. Additionally, technological advancement in diagnostic procedures is increasing the detection rate of this rare blood disorder.

Which Distribution Channel Type is Expected to Leverage Idiopathic Thrombocytopenic Purpura Therapeutics the Most?

Retail Pharmacies to leverage the Market Growth

The Retail Pharmacies channel of the Idiopathic Thrombocytopenic Purpura Therapeutics Market is expected to grow at a value CAGR of 5.1% from 2022-2032.

The retail pharmacy segment is projected to have a dominant share because of higher adoption of intravenous treatment of ITP like immunoglobulins and TPO-RA. Moreover, higher incidences of bleeding disorders in individuals suffering from immune thrombocytopenia leads to increase in the adoption of rescue therapy in retail pharmacies. This factor is also facilities retail pharmacy to lead the ITP market.

Moreover, the retail pharmacy segment is growing, owing to increasing number of trends towards oral therapeutic solutions and procurement of the same through retail channels.

An Adaptive Approach to Modern-day Research Needs

Competitive Landscape

The global market for Idiopathic Thrombocytopenic Purpura Therapeutics is characterized by the presence of multiple vendors, aiming to offer extensive products to consumers. Additionally, key makers are focusing on developing the devices supported by the implementation of stringent government regulations, and are offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage upgradation and product differentiation to gain an edge over other competitors in the market.

  • In February 2019, Paras Biopharmaceuticals Finland Oy announced the successful development of biologically active Romiplostim.
  • In April 2018U.S Food and Drug Administration (FDA) approved the therapeutic use of TAVALISSE developed by Rigel Pharmaceuticals, Inc. as the second line of treatment for ITP.
  • In March 2018, Dova Pharmaceuticals, along with its wholly-owned subsidiary AkaRx, Inc. entered into a distribution and development rights agreement with Shanghai Fosun Pharmaceutical (Group) Co., Ltd. For DOPTELET in China and Hong Kong.

Key Segments Covered in the Idiopathic Thrombocytopenic Purpura Therapeutics Industry Report

  • Idiopathic Thrombocytopenic Purpura Therapeutics Market by Product Type :

    • Corticosteroids-based Idiopathic Thrombocytopenic Purpura Therapeutics
    • Intravenous Immunoglobulins-based Idiopathic Thrombocytopenic Purpura Therapeutics
    • Anti-D Immunoglobulin-based Idiopathic Thrombocytopenic Purpura Therapeutics
    • Thrombopoietin Receptor Agonists (TPO-RA) based Idiopathic Thrombocytopenic Purpura
    • Other Idiopathic Thrombocytopenic Purpura Therapeutic Products
  • Idiopathic Thrombocytopenic Purpura Therapeutics Market by Distribution Channel :

    • Idiopathic Thrombocytopenic Purpura Therapeutic Product Sales via Drug Stores
    • Idiopathic Thrombocytopenic Purpura Therapeutic Product Sales via Retail Pharmacies
    • Idiopathic Thrombocytopenic Purpura Therapeutic Product Sales via Other Distribution Channels
  • Idiopathic Thrombocytopenic Purpura Therapeutics Market by Treatment Type :

    • Oral Corticosteroids Idiopathic Thrombocytopenic Purpura Therapeutics
      • Prednisone
      • Rituximab
      • Azathioprine
      • Eltrombopag
    • Splenectomy-based Idiopathic Thrombocytopenic Purpura Therapeutics
      • Intravenous Immunoglobulin (IVIG)
      • Anti-D Immunoglobulin
      • Thrombopoietin Receptor Agonists
  • Idiopathic Thrombocytopenic Purpura Therapeutics Market by Region :

    • North America
    • Latin America 
    • Europe
    • Asia Pacific
    • Middle East & Africa

- FAQs -

As of 2021, the idiopathic thrombocytopenic purpura therapeutics market was estimated to have reached US$ 587.0 Million
By 2022, the market for idiopathic thrombocytopenic purpura therapeutics is expected to reach US$ 620.5 Million
From 2015-2021, the idiopathic thrombocytopenic purpura therapeutics market grew at a 5.6% value CAGR
From 2022-2032, idiopathic thrombocytopenic purpura therapeutics demand is likely to surge at a 5.0% CAGR
By 2032, the market for idiopathic thrombocytopenic purpura therapeutics is likely to be valued at US$ 1.0 Billion
By 2032, Fact.MR expects the U.S market for idiopathic thrombocytopenic purpura therapeutics to reach US$ 361.8 Million
China is expected to register a 4.4% CAGR with regard to the Idiopathic Thrombocytopenic Purpura Therapeutics Industry
Japan is expected to document a CAGR worth 3.4% in the idiopathic thrombocytopenic purpura therapeutics market
By product type, corticosteroids will expand the fastest, expanding at a 5.0% CAGR
By distribution channel, retail pharmacies will remain most prominent category, expanding at CAGR of 5.1% until 2032

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