LONDON--(BUSINESS WIRE)--The global immune thrombocytopenia drugs market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global immune thrombocytopenia drugs market is the high prevalence of associated risk factors for immune thrombocytopenia. The health condition commonly occurs when the immune system mistakenly attacks and destroys platelets. The risk of this condition appears to be higher in people suffering from diseases such as rheumatoid arthritis, lupus, and antiphospholipid syndrome. Therefore, the growing risk factors eventually increase the prevalence of immune thrombocytopenia. The multifactorial etiology of this condition will thus, increase the demand for immune thrombocytopenia drugs during the forecast period.
As per Technavio, the development of biosimilars will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global immune thrombocytopenia drugs market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global immune thrombocytopenia drugs market: Development of biosimilars
Biosimilars are gaining popularity as reference products. The key advantage of biosimilars is that they are about 20% cheaper than biologics. Biosimilars can be developed by performing fewer clinical trials when compared with biologics. As a result, the immune thrombocytopenia drugs market participants are focusing on the development of biosimilars due to the upcoming expiration of patents. Therefore, the growing popularity of biosimilars has led several market players to focus on the development of these drugs which will boost market growth.
“The development of biosimilars has created a favorable environment for new vendor to enter the market. Thus, the positive response toward biosimilars will drive the immune thrombocytopenia drugs market in terms of volume during the forecast period,” says a senior research analyst at Technavio.
Global immune thrombocytopenia drugs market: Segmentation analysis
This market research report segments the global immune thrombocytopenia drugs market by product (TPO-RAs, Corticosteroids, IVIGs, and other drugs) and geographic regions (North America, Europe, Asia, and ROW).
North America led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the increase in the sale of approved drugs for the treatment of immune thrombocytopenia coupled with an increase in the prevalence of several associated risk factors for the condition.
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Five Forces Analysis
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