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Myelofibrosis is a bone marrow disease that interrupts the blood cells production process in the body. Fibrous or scar tissue gets developed in the bone marrow leading to scarring causing insufficient blood cell production. Myelofibrosis is a rare type of chronic leukemia affecting blood production. The symptoms of myelofibrosis include severe anemia, fatigue, weakness, and enlarged spleen. The disease is usually found to occur in individuals over the age of 50 years. Myelofibrosis is of two types namely, primary myelofibrosis and secondary myelofibrosis. The treatment options are scarce but the U.S. Food and Drug Administration (FDA) approved Jakafi (Ruxolitinib) in 2011, a drug developed by Novartis, which is the only approved product for the treatment of myelofibrosis that forms a major line of defense against the disease.

Increase in FDA approval of pipeline drugs is expected to drive the market

Growing prevalence of myelofibrosis in developing economies drives the demand for various treatment options for myelofibrosis. The market is expected to grow owing to heavy investments in research and development, appropriate reimbursement conditions, and a large pool of patients living with myelofibrosis. In addition, the market growth can be attributed to other factors including lifestyle up-gradation, unmet medical needs of the patients, increasing incidences of genetic disorders, and escalating smoking population. The market is expected to gain significant traction with the medical advancements focusing patients suffering from myelofibrosis. For instance, development of a molecule, CYT387 or Momelotinib, by Gilead Sciences for treating primary myelofibrosis and the innovation of current drug, ruxolitinib, by Incyte Corporation to develop a substitute dosing strategy in patients with myelofibrosis.

However, limited awareness of the novel therapies and high costs involved in treatment are the factors restricting the growth of the global myelofibrosis treatment market.

Myelofibrosis Treatment Market Taxonomy

The global myelofibrosis treatment market is segmented on the basis of diagnosis, treatment, end user, and geography.

On the basis of diagnosis, the global myelofibrosis treatment market is segmented into:

  • Gene Mutation Analysis
  • Bone Marrow Biopsy
  • Imaging Tests
  • Blood Tests

On the basis of treatment, the global myelofibrosis treatment market is segmented into:

  • Chemotherapy
  • Blood Transfusions
  • Stem Cell Transplant
  • Splenectomy
  • Radiation Therapy
  • Others

On the basis of end user, the global myelofibrosis treatment market is segmented into:                

  • Hospitals
  • Clinics
  • Bone Marrow Transplant Centers

North America to dominate the market with the rising prevalence of myelofibrosis and favorable reimbursement scenario

Regional segmentation of the global myelofibrosis treatment market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the global myelofibrosis treatment market owing to the growing public awareness, high prevalence of the disease, favorable reimbursement policies, and a higher percentage of the income spent on healthcare. According to the American Society of Hematology 2016, myelofibrosis is a potentially life-threatening blood cancer that affected approximately 20,000 Americans. Asia Pacific is expected to hold a large share of the global market during the forecast period owing to increased disposable incomes, high geriatric population, and improved healthcare facilities.

Pipeline drug, Pacritinib, developed by Biopharma reveals higher therapeutic efficacy for myelofibrosis treatment

The key players operating in the global myelofibrosis treatment market include Novartis, Eli Lilly, Roche, Merck & Co., Celgene, Amgen, Bristol-Myers Squibb, Incyte Corporation, and Gilead Sciences. The key players are focused on developing effective treatments that are aimed at easing the patient symptoms with fewer side effects and improving the quality of life. For instance, Biopharma developed Pacritinib in 2016, which is proven to be more effective through the clinical trials than the FDA approved ruxolitinib.


Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users