Myelodysplastic Syndrome Treatment Market Growth Accelerated by Emerging Pipeline Drugs

 

Myelodysplastic syndrome (MDS) refers to a group of blood disorders where the bone marrow does not produce enough healthy blood cells. As a result, patients suffer from fatigue, frequent infections, and excessive bleeding. Currently, only a few treatment options are available for MDS including blood transfusions, growth factor therapies, chemotherapy or stem cell transplantation. However, these treatments have limited efficacy and come with several side effects.

The global Myelodysplastic Syndrome Treatment Market is estimated to be valued at US$ 3,265.6 mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Emerging pipeline drugs is one of the key trends driving the growth of the myelodysplastic syndrome treatment market. Currently, over hundred drugs are under development by key players to offer more efficacious and safer treatment options to MDS patients. Some of the promising pipeline drugs are imetelstat by Geron Corporation, guadecitabine by Astex Pharmaceuticals, Decitabine/Cedazuridine by Pharma Mar and Vorinostat by Merck & Co. These pipeline drugs claim to target the root cause of MDS, improve overall survival and reduce side effects associated with the current therapies. Positive clinical trial results of these emerging drugs will attract more patients and bolster the market growth over the forecast period.

Segment Analysis
The global myelodysplastic syndrome treatment market is segmented based on type of treatment, distribution channel, and region. By type of treatment, the chemotherapy segment dominates the market. Chemotherapy is the most common therapy recommended by healthcare professionals globally for myelodysplastic syndrome. It is effective in treating various types and stages of myelodysplastic syndrome. Due to its widespread usage, the chemotherapy segment captures over 35% of the total myelodysplastic syndrome treatment market share.

Key Takeaways
The global myelodysplastic syndrome treatment market is expected to witness high growth over the forecast period of 2023 to 2030. The market is estimated to reach a value of US$ 3,265.6 million by 2024, expanding at a CAGR of 9.3% during the forecast period.

Regional analysis: North America currently dominates the market and is expected to continue its lead over the forecast period. Higher awareness regarding myelodysplastic syndrome and established healthcare infrastructure are the major factors responsible for North America's large share. However, Asia Pacific is anticipated to witness the fastest growth owing to the rising disposable incomes, increasing healthcare spending, growing geriatric population susceptible to myelodysplastic syndrome.

Key players: Key players operating in the myelodysplastic syndrome treatment market are 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. Celgene Corporation dominates the market with its drugs Revlimid and Vidaza being used extensively in myelodysplastic syndrome treatment globally. 

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