In 2022, the global Radiation-Induced Myelosuppression Treatment Industry achieved sales of US$ 2.9 billion. With a consistent 3.1% compound annual growth rate (CAGR), the market is on a trajectory to surpass US$ 3.5 billion in valuation by 2028.
The report tracks key factors driving revenue growth of the market –
- Increasing prevalence of cancers
- Early diagnosis, promises improved chances of positive outcomes
- Fostering R&D funds supporting cancer research
- Strong product pipeline
- Bolstering adoption of chemo-radiotherapy in cancer treatment
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Against the backdrop of patent expiry, a majority of market leaders are shifting their focus to the expansion of the product pipeline of a wide range of innovative formulations, likely to shape the radiation-induced myelosuppression treatment landscape.
- Myelo001 by Myelo Therapeutics GmbH recently received FDA approval as an orphan drug to be used in the ARS (acute radiation syndrome) treatment.
- Mylan NV and Pfizer Inc. also received FDA approvals for their recently launched biosimilars – Epogen Neupogen, and Neulasta respectively.
The patent expiry of originator biologics formulations is creating investment opportunities in biosimilar production – for the operators in the radiation-induced myelosuppression treatment landscape. As there is a considerable cost difference of around 20% between originator biologics and biosimilars, patients are inclined more towards an economical means of treatment, thereby fueling the scope of penetration of radiation-induced myelosuppression treatment in coming years.
Backed by a majority of established players housing strong bases across North America, especially the US, the report indicates a steady growth outlook for the radiation-induced myelosuppression treatment industry in the region. North America will reportedly continue to account for over 65% share of the global market value.
New product launches currently mark the top developmental strategy adopted by leading companies competing in the radiation-induced myelosuppression treatment industry. A majority of key players are also identified to focus on enhancing their geographical foothold in the global radiation-induced myelosuppression treatment landscape. The report in a distinct section covers some of the key competitors operating in the radiation-induced myelosuppression treatment marketplace, emphasizing their financial as well as strategic profiles in depth.
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A few of the profiled companies include Pfizer Inc., Janssen Pharmaceutical NV, Janssen Global Services, LLC (Johnson & Johnson), Amgen Inc., Mylan NV, Teva Pharmaceutical Industries Ltd., Novartis AG, and Partner Therapeutics, Inc.
In the highly consolidated competitive landscape of global radiation-induced myelosuppression treatment, the three top-ranking companies, i.e. Janssen Pharmaceutical NV, Amgen Inc., and Teva Pharmaceutical Industries Ltd. dominate in terms of market value. These players continue to hold winning revenue shares in the radiation-induced myelosuppression treatment owing to a strong global presence and a considerable number of new drug approvals. Established companies are entering strategic partnerships and collaborations with regional leaders, to achieve better penetration into regional markets.
Radiation-Induced Myelosuppression Treatment Market by Category
Indication:
- Neutropenia
- Anemia
- Thrombocytopenia
Drug Class:
- Growth factors
- Erythropoietin stimulating agents
- Thrombopoietin agents
- Iron supplements
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
- Drug stores
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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