SEATTLE, July 27, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global polycythemia vera therapeutics market is estimated to be valued at US$ 1,115.9 million in 2021 and is expected to exhibit a CAGR of 4.5% over the forecast period (2021-2028).

Key Trends and Analysis of the Global Polycythemia Vera Therapeutics Market:

Key trends in the market include increasing incidence of polycythemia vera, increasing approval of novel products, and increasing collaborations and acquisitions among key players. These key trends are expected to aid in growth of polycythemia vera therapeutics market.

For instance, according to the article in journal of Multidisciplinary Digital Publishing Institute (MDPI) in July 2020, the estimated annual incidence rates for polycythemia vera (PV), essential thrombocythemia (ET), and primary myelofibrosis are 0.84, 1.03, and 0.47 per 100,000 population, globally.

Moreover, increasing approvals of novel products is expected to drive the market growth over the forecast period. For instance, in February 2016, Health Canada approved Jakavi (ruxolitinib), for the control of hematocrit in adult patients with polycythemia vera (PV) resistant to or intolerant of a cytoreductive agent. Jakavi is the first targeted treatment approved for this type of blood cancer, a myeloproliferative neoplasm (MPN).

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Furthermore, key players operating in the global polycythemia vera therapeutics market are focusing on adoption of inorganic growth strategies such as acquisitions and collaborations, in order to expand their market presence in the global market. For instance, in December 2020, Incyte Corporation and Cellenkos, Inc., a privately held, clinical stage biotech company, announced a development collaboration to investigate the combination of ruxolitinib (Jakafi) and CK0804, Cellenkos’ cryopreserved CXCR4 enriched, allogeneic, umbilical cord blood-derived T-regulatory cells, in patients with myelofibrosis (MF). In addition, Incyte has an exclusive option to acquire sole rights to develop and commercialize CK0804, and genetically-modified variants of CK0804, in benign and malignant hematology indications.

Key Market Takeaways:

The global polycythemia vera therapeutics market is expected to exhibit a CAGR of 4.5% over the forecast period, owing to presence of strong pipeline products. For instance, in January 2019, Kartos Therapeutics, Inc., a biopharmaceutical company, initiated a phase II/III randomized, controlled, open-label study of KRT 232 in subjects with Primary Myelofibrosis (PMF), Post Polycythemia Vera Mf (Post-PV-MF), or Post Essential Thrombocythemia MF (Post-ET-MF), who are relapsed or refractory to Janus Kinase (JAK) Inhibitor Treatment.

Among drug class, kinase inhibitors segment accounted for largest market share in 2020, owing to market players focusing on obtaining drug approvals. For instance, in June 2019, Sierra Oncology, Inc. a late-stage drug development company, announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to momelotinib, a JAK1, JAK2, and ACVR1 inhibitor, for the treatment of patients with intermediate/high-risk myelofibrosis associated with polycythemia vera who have previously received a JAK inhibitor.

Competitive Landscape:

Key players operating in the global polycythemia vera therapeutics market include Pfizer Inc, Galena Biopharma, Bristol-Myers Squibb Company, Novartis AG, Eli Lilly and Company, PharmaEssentia Corporation, Bayer AG, Mylan N.V., Teva Pharmaceuticals Industries Ltd, GlaxosmithKline plc, ANP Technologies, INC., F. Hoffmann-La Roche Ltd., Gilead Sciences, Inc, Karus Therapeutics Limited, and Miragen Therapeutics, Inc.

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Market Segmentation:

• Global Polycythemia Vera Therapeutics Market, By Disease Type:
  • Primary Polycythemia Vera
  • Secondary Polycythemia Vera
• Global Polycythemia Vera Therapeutics Market, By Drug Class:
  • Antimetabolite
  • Kinase Inhibitors
  • Alpha Interferon
  • Selective Serotonin Reuptake Inhibitors
  • Others
• Global Polycythemia Vera Therapeutics Market, By Route of Administration:
  • Oral
  • Intravenous
  • Intramuscular
  • Subcutaneous
• Global Polycythemia Vera Therapeutics Market, By Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Global Polycythemia Vera Therapeutics Market, By Region:
  • North America
    • By Country
      • U.S.
      • Canada
  • Latin America
    • By Country
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region
      • South Africa
      • Central Africa
      • North Africa
        
        

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