Idiopathic Thrombocytopenic Purpura (ITP) Therapeutics Market Size [2022-2028] to Reach USD 840.68 Million and Exhibit a CAGR of 5.29% | The Brainy Insights

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Newark, July 06, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global idiopathic thrombocytopenic purpura (ITP) therapeutics market is expected to grow from USD 554.61 million in 2020 to USD 840.68 million by 2028, at a CAGR of 5.29% during the forecast period 2021-2028.

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For decades, treatment options were limited to splenectomy and corticosteroids, followed by the plasma-derived treatments. However, as biology improves, an expanded treatment repertoire is emerging for the ITP disease. Many companies are investing the research and development for the launching novel treatment for ITP. Current research and development activities are mainly focusing on combining therapies to address multiple mechanisms of disease simultaneously. Additionally, as the complex pathophysiology of ITP improves, novel therapies targeting alternative pathways are becoming available.

Idiopathic thrombocytopenic purpura (ITP) is a common immune disorder caused by platelet-reactive autoantibodies. ITP has an acute, generally self-limiting form that typically affects children and a chronic form that affects adults, characterized by transient or persistent decrease of the platelet count. Platelets are vital cells in the blood that help stop bleeding in the body. A reduction in platelets can result in bleeding gums, easy bruising, and internal bleeding.

Global idiopathic thrombocytopenic purpura (ITP) therapeutics market is witnessing a considerable growth owing to increasing demand for the combination therapies for the treatment of idiopathic thrombocytopenic purpura (ITP). In some cases, first-line therapy does not provide adequate results, and alternative therapies are required to treat the disease, including second- and third-line therapies. However, lack of awareness of the disease amongst people and various side effects of corticosteroids, are some of the factors likely to hinder the market growth, over the forecast period.

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Key players operating in the global idiopathic thrombocytopenic purpura (ITP) therapeutics market include Hoffman-L Roche, Novartis, GlaxoSmithKline, Eisai, Amgen, GrifolsBiologicals Inc., Baxter, CSL Behring, Bristol-Myers Squibb, and Roxane among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global idiopathic thrombocytopenic purpura (ITP) therapeutics industry.

• In October 2019, Amgen announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for Nplate (romiplostim) for the treatment of pediatric patients one year of age and older with immune thrombocytopenia (ITP) for at least six months who are not responding for corticosteroids, immunoglobulins or splenectomy.
• In January 2019, GrifolsBiologicals Inc. announced that it has entered into a license agreement with the US-based biotechnology company Rigel Pharmaceuticals to commercialize fostamatinib disodium hexahydrate in all potential future indications in Europe and Turkey.
• In February 2019, Roche and Spark Therapeutics, Inc. announced that they have entered into a definitive merger agreement for Roche to fully acquire Spark Therapeutics to expand the product portfolio.
• In January 2020, Novartis in association with The ITP Support Association announced the launch of ITP Pocket Log, designed to help people manage and track their ITP on the move, which is available on Google Play and Apple App Store.

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Anti-D immunoglobulin is expected to grow at the highest CAGR of 6.8% over the forecast period

The product type segment is divided into corticosteroids, intravenous immunoglobulins, anti-D immunoglobulin, thrombopoietin receptor agonists (TPO-RA), and others. Anti-D immunoglobulin is expected to grow at the highest CAGR of 6.8% over the forecast period. The adoption of anti-D immunoglobulin for the treatment of ITP and rapidly increasing platelet counts in patients with symptomatic ITP.

The oral corticosteroids segment held the largest market share and valued at USD 361.60 million in the year 2020

The treatment type segment includes spleenectomy and oral corticosteroids. The oral corticosteroids segment held the largest market share and valued at USD 361.60 million in the year 2020. This is mainly due to it is widely used as first-line therapy for the treatment of idiopathic thrombocytopenic purpura (ITP) for both adults and children.

Drug stores are anticipated to grow at the highest CAGR of 6.2% over the forecast period

The distribution channel segment includes drug stores, retail pharmacies, and others. Drug stores are anticipated to grow at the highest CAGR of 6.2% over the forecast period. The growth is mainly due to an increase over the counter drugs for the treatment of ITP.

Regional Segment Analysis of the Idiopathic Thrombocytopenic Purpura (ITP) Therapeutics Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

The North America region emerged as the largest market for the idiopathic thrombocytopenic purpura (ITP) therapeutics market and valued at USD 228.50 million in 2020. This is because North America is growing tremendously in terms of the healthcare industry. Rising occurrence of diseases coupled with the presence of high treatment rates, and favourable government initiatives, propelling the growth of the market in the North America region. In addition to this, increasing treatment for the idiopathic thrombocytopenic purpura (ITP) therapeutics and high research and development activities, further driving the growth of the market. On the flip side, the Asia Pacific region is anticipated to grow at a considerable growth rate in the global idiopathic thrombocytopenic purpura (ITP) therapeutics market, owing to rising healthcare expenditure in the region. Moreover, sophisticated healthcare infrastructure in the countries such as Japan and Australia, fuelling the growth of the market.

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About the report:

The global idiopathic thrombocytopenic purpura (ITP) therapeutics market is analyzed on the basis of value (USD million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, and competitor position grid analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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