Polycythemia Vera Market

Polycythemia vera (PV) is a syndrome characterized by an increase in the number of red blood cells in the bloodstream acquired from various sources. Visible symptoms include itching, headache, dizziness, fatigue, blind spots, leukemia, and even heart attack in a few cases due to an unusual thrombotic event. As per reports, the disease is known to occur in men more often above the age of 60. Comorbidities of polycythemia vera include peptic ulcers, blood clots, gout, acute myeloid leukemia, myelodysplastic syndrome, and splenomegaly. In the absence of a proper therapy, survival rates in patients suffering from the disease comes down to as low as 3 years with the number stretching to 14 years for patients with a healthy metabolism.

 The diagnosis consists of testing the bloodstream for presence of excess levels of a hormone known as erythropoietin as well as mutations in JAK2. As a first line diagnostics procedure, the professional may perform a procedure known as complete blood count to see whether the number of red blood cells are higher than normal. Treatment of polycythemia consists of a blood thinning techniques such as phlebotomy and low-dose aspirin. Phlebotomy helps in reduction in the possibility of life threatening events such as heart attack, stroke, pulmonary embolism, acute leukemia, and hypertension.

COVID-19 Impact Analysis

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 the 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 shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the polycythemia vera market.

Top Impacting Factors

• Increase in the occurrence of the disease aided by rising healthcare spending by industrialized and newly commercialized economies and general rising awareness across people will give a major boost to the growth of the market.
• Recent launch of drugs such as   PTG-300, IM-7289 coupled with more product approvals is a major driver for the growth of polycythemia treatment market.
• Higher government spending in addition to the increased focus toward targeted therapies provides a positive impetus for exponential market growth.
• Overall growing ecological anxiety due to psychological impact of COVID-19 and the subsequent exposure to toxic compounds is another driver of the polycythemia vera treatment market.
• However, higher cost of product lined with stringent regulatory and reimbursement policies by conservative governments across the globe restrain the market growth.

Key Market Trends

• North America continues to govern the market, owing to highest number of polycythemia vera cases among all the nations coupled with higher diagnosis rate due to presence of robust infrastructure.
• An interferon-alpha 2b stimulant which goes by the name of “Besremi” has recently been approved by G7 countries, and is stipulated to enter the market as the first line of defense against polycythemia vera soon.
• Among many polycythemia vera emerging therapies focused on second line defense, Protagonist Therapeutics and Imago Biosciences are in line to enter the market with their newly manufactured products.
• Jakafi is poised to establish and maintain dominance in the hydroxyl-urea refractory market, thus primarily focusing on the second line defense mechanisms.
• On the basis of various distribution and communication channels, health center drug stores are poised to remain as the most successful sector in polycythemia vera market.
• The outbreak of the novel coronavirus and shift in focus on handling the supply chains during the pandemic have led to delay and suspension of critical product trails and approvals until the situation subsides, thus leading to heavy losses to major private sector players.

Key Benefits of the Report

• This study presents the analytical depiction of the polycythemia vera industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the polycythemia vera market share.
• The current market is quantitatively analyzed to highlight the polycythemia vera market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the polycythemia vera market.
• The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Polycythemia vera Report

• Which are the leading players active in the polycythemia vera market?
• How is each segment of the market expected to grow during the forecast period?
• What are the adoption trends for the polycythemia vera market in emerging economies and established economies across the world?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the polycythemia vera market?
• What future projections would help in taking further strategic steps?
• What are the impacts of COVID-19 in the industry?
• What is polycythemia vera?
• What is the polycythemia vera market prediction in the future?
• What are the current trends and predicted trends?

 Polycythemia Vera Market Report Highlights