Aplastic Anemia Treatment Market: Increase in awareness about aplastic anemia and blood disorders is likely to fuel the market
Aplastic Anemia Treatment Market: Introduction
- Condition in which the body stops producing new blood cells is known as aplastic anemia. Acquired aplastic anemia and inherited bone marrow failure syndromes are the two types of aplastic anemia. Inherited aplastic anemia is common in young adults and children, whereas acquired aplastic anemia is common in adults.
- Aplastic anemia results in bone marrow damage. The damage may occur after exposure to some drugs or infections, chemotherapy, radiation therapy, or toxic chemical.
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Key Drivers of Global Aplastic Anemia Treatment Market
- Increase in prevalence of blood disorder is anticipated to drive the global aplastic anemia treatment market. For instance, according to the Centers for Disease Control and Prevention, in the U.S., hemophilia A affects 1 in 5,000 male newborns and about 400 babies are born with hemophilia A each year; an estimated incidence of hemophilia is 1 per 12,000 annually.
- According to Leukemia Foundation, the incidence of aplastic anemia is 0.7 – 4.1 cases per million people across the world
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- Increase in awareness about aplastic anemia and blood disorders is likely to fuel the growth of the global market. For instance, The Aplastic Anemia and MDS International Foundation, NORD - National Organization for Rare Disorders, Inc., and CancerIndex, among others, are spreading awareness about aplastic anemia. In February 2019, The Aplastic Anemia Trust spring awareness Campaign was launched.
- Developing market, such as Asia Pacific, Middle East & Arica, and Latin America present significant opportunities for aplastic anemia market players. Rise in prevalence and incidence rate of aplastic anemia exhibits growth potential. For instance, according to an article published in the Association of Physicians of India, in a study conducted during 2007 – 2014, 214 average number of new aplastic anemia patients enrolled in India.
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High Cost of Treatment to Hamper Market Growth
- Cost of treatment is a major factor influencing the selection of the treatment. The cost of bone marrow transplant is more than US$ 300,000. Thus, high cost of the treatment is likely hamper the growth of the aplastic anemia treatment market.
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North America to Hold a Major Share of Global Aplastic Anemia Treatment Market
- North America is expected to hold a major share of the global aplastic anemia treatment market due to high prevalence rate of blood disorder. For instance, according to The Leukemia & Lymphoma Society, in 2019, an estimated 61,780 people with leukemia and 176,200 with general blood cancer were expected to be diagnosed in the United States. According to Canadian Cancer Society, in Canada, approximately 21,000 Canadians were diagnosed with blood cancer in 2019.
- The aplastic anemia treatment market in Asia Pacific is projected to expand at a rapid pace during the forecast period, owing to the rise in prevalence rate of aplastic anemia and bone marrow disorder
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Key Players Operating in Global Market
The global aplastic anemia treatment market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective region. Major companies in the market are engaged in developing new products and obtaining approvals. For instance, in November 2018, Novartis AG received the approval from the Food and Drug Administration for Promacta as the first line treatment for aplastic anemia. In September 2016, Regen BioPharma Inc. submitted an additional data application for orphan drug, HemaXellerate. In September 2015, Novartis AG received an approval from the European Commission for Revolade for the treatment of aplastic anemia in adult patients.
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