Essential Thrombocythemia Market Share

North America Statistics

The essential thrombocythemia market in North America is projected to be the largest with a share of about 35% by the end of 2035. The market growth in the region is mostly driven by the rising count of people living with ET. In the United States, the average yearly prevalence of newly detected cases of ET for every ethnic group and race is roughly 2.2 per 100,000 population. Furthermore, the higher investment influx and development of biotech and pharmaceutical sectors are further driving the industry expansion in North America. Since, ET requires long-term management, often with the use of medication and these medications rely on the availability of high-quality active pharmaceutical ingredients (API), raw materials, and antibiotics. The Department of Health and Humans services invested USD 40 million to drive the growth of biopharmaceuticals in the United States.

European Market Forecast

The European essential thrombocythemia market is expected to be the second largest, with a share of around 24% by the end of 2035. According to the European Commission, by December 2021, European Union-based enterprises have raised their investments in health research and development by up to 10.3%. Increased investment in health R&D enables researchers to gain a deeper understanding of ET, including its underlying causes, mechanism, and risk factors. This knowledge contributes to the development of more personalized therapies for ET.

Frequently Asked Questions (FAQ)

Increasing cases of essential thrombocythemia, and rising investment in research development of new drugs are the major factors driving the market growth.

The market size of essential thrombocythemia is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 â€“ 2035.

The major players in the market are Incyte, Bayer AG, Merck & Co., Inc.., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, AstraZeneca, Takeda Pharmaceutical Company Limited., and Active Biotech AB.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by treatment type, end user, and by region.

The hydroxyurea segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Lack of treatment, underdiagnosis and misdiagnosis, and slow clinical trials are estimated to be the growth-hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

Essential Thrombocythemia Market Share