CHEMOTHERAPY INDUCED THROMBOCYTOPENIA THERAPEUTICS MARKET ANALYSIS

The global chemotherapy-induced thrombocytopenia therapeutics market is estimated to be valued at US$ 1,531.3 Mn in 2023, and is expected to exhibit a CAGR of 5% during the forecast period (2023-2030).

Analysts’ Views on the Global Chemotherapy-induced Thrombocytopenia Therapeutics Market:

Increasing advancements in chemotherapy and cancer therapies may drive the use of chemotherapy and, subsequently, the demand for thrombocytopenia therapeutics to fuel the global chemotherapy-induced thrombocytopenia therapeutics market growth over the forecast period.

Figure 1. Global Chemotherapy-induced Thrombocytopenia Therapeutics Market Share (%), By Drug Class, 2023

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Global Chemotherapy-induced Thrombocytopenia Therapeutics Market - Drivers

• Increasing Research and Development Activities: Continued investments in research and development to develop innovative thrombocytopenia therapeutics can drive the market growth. Numerous clinical trials are conducted to evaluate the safety and efficacy of potential CIT treatments. These trials may involve novel drugs, combinations of drugs, or modifications to existing treatments. For instance, according to clinical trials.gov, in June 2022, Clover Biopharmaceuticals, Ltd., a global clinical-stage biotechnology company developing novel vaccines and biologic therapeutic candidates, announced that the first patient has been dosed with SCB-219M, a novel thrombopoietin receptor agonist (TPO-RA) mimetic Fc-fusion protein, in a Phase 1 clinical trial to assess the safety, tolerability, immunogenicity, pharmacokinetics, and efficacy of SCB-219M in in cancer patients with chemotherapy-induced thrombocytopenia (CIT). Clover Biopharmaceuticals, Ltd. gained IND clearance from the Center for Drug Evaluation (CDE) for SCB-219M as a Class I novel medication in December 2021.
• Rising Cases of Cancer: Dynamically surging cases of cancer have increased the number of chemotherapy procedures, which is expected to drive the growth of global chemotherapy-induced thrombocytopenia therapeutics market during the forecast period. For instance, according to Centers for Disease Control and Prevention, in the U.S., in 2020, 1,603,844 new cancer cases were reported and 602,347 people died of cancer. For every 100,000 people, 403 new cancer cases were reported and 144 people died of cancer.

Figure 2. Global Chemotherapy-induced Thrombocytopenia Therapeutics Market Share (%), By Region, 2023

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Global Chemotherapy-induced Thrombocytopenia Therapeutics Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global chemotherapy-induced thrombocytopenia therapeutics market over the forecast period. North America is estimated to hold 43.2% of the market share in 2023. The market is expected to witness significant growth in the near future due to rising cancer initiatives in the region. For instance, in June 2023, the U.S. government provided US$ 50 million to launch the Persistent Poverty Initiative, which aims to reduce the cumulative effects of persistent poverty on cancer outcomes by increasing research capacity, encouraging cancer prevention research, and encouraging the implementation of community-based programs. The Persistent Poverty Initiative is the first significant program to address persistent poverty's structural and institutional determinants in the context of cancer.

Global Chemotherapy-induced Thrombocytopenia Therapeutics Market - Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems regarding transportation of raw materials and finished products from one place to another.
• The COVID-19 pandemic had a negative impact on the global chemotherapy-induced thrombocytopenia therapeutics Market owing to the decreasing enrollment of patients for clinical trials. For instance, according to a survey conducted by Medidata Solutions, Inc., a U.S.-based technology company that develops and markets software as a service for clinical trials, on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents postponed their studies.

Global Chemotherapy-induced Thrombocytopenia Therapeutics Market - Segmentation

The global chemotherapy-induced thrombocytopenia therapeutics market report is segmented into drug class, route of administration, distribution channel, and region.

• Based on drug class, the market is segmented into thrombopoietin receptor agonists, thrombopoietic agents, and others. The thrombopoietin receptor agonists segment is expected to hold a dominant position in the global chemotherapy-induced thrombocytopenia therapeutics market during the forecast period due to the increasing safety and efficacy of thrombopoietin receptor agonists.
• Based on route of administration, the market is segmented into oral and injectable. Out of which, the injectable segment is expected to dominate the market over the forecast period due to rising injectable drugs in the pipeline.
• Based on distribution channel, the market is segmented into hospitals pharmacies, retail pharmacies, and online pharmacies. Out of which, the hospitals pharmacies segment is expected to dominate the market over the forecast period due to the rising launch of hospital pharmacies in U.S.
• Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, North America is expected to dominate the market over the forecast period due to increasing investments and funding in the research and development of chemotherapy-induced thrombocytopenia therapeutics.
• Among all the segmentation, the drug class segment is expected to dominate the market over the forecast period due to increasing product launches by market players.

Global Chemotherapy-induced Thrombocytopenia Therapeutics Market - Cross Sectional Analysis

Among the distribution channel segment, the hospital pharmacies segment is expected to be dominant in the Asia Pacific region owing to the increasing launch of hospital pharmacies. For instance, on September 26, 2023, the Lilavati Hospital, a private hospital in Mumbai, India, launched a chain of Lilavati Pharmacy outlets around India. The Lilavati Pharmacy chain will also launch a community wellness programs. Customers will be able to consult with a doctor at the drugstore and receive proper treatment.

Global Chemotherapy-induced Thrombocytopenia Therapeutics Market: Key Developments

• In October 2020, Swedish Orphan Biovitrum AB, a focused worldwide biopharmaceutical business, revealed topline findings from its phase 3 research of avatrombopag, an oral thrombopoietin (TPO) receptor agonist, in solid tumor cancer patients with chemotherapy-induced thrombocytopenia (CIT). Despite the fact that avatrombopag boosted platelet counts in comparison to placebo, the research did not reach the composite main goal of avoiding platelet transfusions, chemotherapy dosage reductions of 15% or more, and chemotherapy dose delays of four days or more.
• In March 2022, Amgen, a worldwide biopharmaceutical company, announced the opening of its newest biomanufacturing plant in Holly Springs, North Carolina, U.S. The facility, which is set to open in 2025, will help meet the rising demand for Amgen's drugs, which treats major ailments such as cancer and heart disease. Amgen's facility will use innovative technologies to maximize productivity and assure the capacity to generate a diverse range of medications for patients.
• In October 2020, the Swedish Orphan Biovitrum AB, a focused worldwide biopharmaceutical company, announced that avatrombopag (Doptelet) drug fell short in chemotherapy induced thrombocytopenia in clinical trials in phase 3. The drug did not reach the end point as per the expectations.

Global Chemotherapy-induced Thrombocytopenia Therapeutics Market: Key Trends

• Increasing Awareness Programs: Increasing number of awareness campaigns for cancer are expected to drive the global chemotherapy-induced thrombocytopenia therapeutics market in the near future. In August 2022, the National Health Service (NHS), a publicly-funded healthcare system in the U.K., launched the Help Us Help You campaign, on World Lung Cancer Day. This campaign will target the most vulnerable populations, including the over-60s and those from lower-income backgrounds, who are frequently more hesitant to visit their General Practitioner (GP), which is crucial for acquiring an early diagnosis.

Global Chemotherapy-induced Thrombocytopenia Therapeutics Market: Restraint

• Lack of Approved Drugs: Growth of the global chemotherapy-induced thrombocytopenia therapeutics market is expected to be hampered over the forecast period owing to the lack of approved drugs or therapeutics for the treatment of chemotherapy-induced thrombocytopenia. For instance, currently, Oprelvekin-recombinant interleukin-11 (IL-11) is the only thrombopoietic agent which was approved by the U.S. Food and Drug Administration (FDA) in 1998 for the treatment of chemotherapy-induced thrombocytopenia. It is indicated for adults with solid tumors and lymphomas associated with severe chemotherapy-induced thrombocytopenia.

To counterbalance the restraint, key players should focus on increasing research and development activities of therapeutics.

Global Chemotherapy-induced Thrombocytopenia Therapeutics Market - Key Players

The major players operating in the global chemotherapy-induced thrombocytopenia therapeutics market include Amgen, Inc., Novartis AG, Pfizer Inc., Swedish Orphan Biovitrum AB, Jiangsu HengRui Medicine Co., Ltd., Teva Pharmaceutical Industries Ltd., and Mylan N.V.

Definition: Chemotherapy-induced thrombocytopenia (CIT) is a medical disorder caused by chemotherapy that results in a considerable decrease in the number of platelets in the blood. Platelets are little blood cells that aid in blood clotting and the prevention of excessive bleeding. When the platelet count falls to excessively low levels as a result of chemotherapy, there is an increased risk of bleeding and bruising. Chemotherapy is a frequent cancer treatment, but it can have negative effects on bone marrow, which produces blood cells such as platelets. Chemotherapy drugs can impair the bone marrow's capacity to produce sufficient platelets, resulting in thrombocytopenia.