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Aplastic anemia occurs when the body stops producing enough new blood cells. Patients who suffer from this condition feel more fatigued than normal and are more prone to uncontrolled bleeding and infections. It is a rare and serious condition that can develop at any age. Aplastic anemia can happen slowly and worsen over time or occur suddenly. Treatment of aplastic anemia often includes medications, blood transfusions, or stem cell transplants, also called bone marrow transplant. The most common cause of this condition is autoimmunity. However, other factors that can injure bone marrow include radiation and chemotherapy, exposure to toxic chemicals, and parvovirus infections.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
However, with COVID-19, the supply chain of raw material required to manufacture drugs to treat aplastic anemia has been disrupted in many countries. In addition, the market growth for aplastic anemia treatment is also declining as manufacturers of these drugs have slowed down their production, owing to the pandemic. This, in turn, is expected to have a significant impact on the aplastic anemia treatment market.
Top Impacting Factors
Key Market Trends
In November 2018, the Food and Drug Administration (FDA) approved Promacta, which is the first-line treatment for aplastic anemia. It was launched by Novartis AG. Novartis AG also received approval for Revolade, which is used for aplastic anemia treatment in adult patients. In September 2016, an additional data application was submitted by Regen BioPharma Inc., for its orphan drug, HemaXelerate. HemaXellerate comprise fat tissue cells of patients and helps induce a response in their body to heal bone marrow and restore the ability to generate new and healthy blood cells. North America holds a major share of the aplastic anemia treatment market, owing to high prevalence of blood disorders. With the presence of major market players, this region is expected to grow further during the forecast period.
Asia-Pacific also has many opportunities for growth in the aplastic anemia treatment market. This region attracts a huge number of global patients as many countries in Asia offer low-cost treatments and surgery options for aplastic anemia.
Key Benefits of the Report
Questions Answered in the Aplastic Anemia Treatment Report
Key Market Segments
Key Market Players