Myelodysplastic syndrome (MDS) is a type of blood cancer that affects the blood cells in the bone marrow and peripheral blood. Symptoms include fatigue, shortness of breath, easy bruising, and frequent infections. Treatment of MDS involves medications to increase red blood cell, white blood cell or platelet counts. Other treatment options include chemotherapy, stem cell transplant, hormone therapy etc. The need for advanced treatment options for managing symptoms, halting progression to leukemia and improving survival rates is fueling the growth of the myelodysplastic syndrome treatment market.
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.
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Market key trends:
One of the key trends in the myelodysplastic syndrome treatment market is increasing research for developing novel agents and targeted therapies. Currently, researchers are evaluating therapies targeting epigenetic modifications, signaling pathways involving Ras/MAPK, PI3K/AKT/mTOR, and JAK/STAT signaling. Companies are also investing in developing novel agents with disease modifying ability. For instance, FibroGen is developing pamrevlumab, a first-in-class antibody targeting connective tissue growth factor for MDS treatment. Pamrevlumab has received fast track designation from the FDA for the treatment of MDS. Rising research and development of targeted therapies is anticipated to bring new treatment alternatives and improve clinical outcomes for MDS patients over the forecast period.
Threat of new entrants: The threat of new entrants in the myelodysplastic syndrome treatment market is moderate as high capital investments are required for research and development of new drugs.
Bargaining power of buyers: The bargaining power of buyers is low in this market as treatment options are limited.
Bargaining power of suppliers: The bargaining power of suppliers is also low due to presence of many established players.
Threat of new substitutes: Currently there are no close substitutes available for existing treatment options.
Competitive rivalry: The competitive rivalry in the market is high owing to presence of many global as well as local players.
The global myelodysplastic syndrome treatment market is expected to witness high growth. The market size was valued at US$ 3,265.6 million in 2023 and is anticipated to reach US$ 7,080.3 million by 2030, expanding at a CAGR of 9.3% during the forecast period.
North America currently dominates the market and is expected to continue its dominance during the forecast period. High awareness regarding MDS and availability of advanced treatment options are some factors supporting the growth of myelodysplastic syndrome treatment market in the region.
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 leads the market with its drug Revlimid being one of the major treatment options for MDS.
- Source: Coherent Market Insights, Public sources, Desk research
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