Market Challenges And Opportunities

Increase in FDA approval of pipeline drugs is expected to drive the market

Growing prevalence of myelofibrosis in developing economies drives the demand for various treatment options for myelofibrosis. The market is expected to grow owing to heavy investments in research and development, appropriate reimbursement conditions, and a large pool of patients living with myelofibrosis. In addition, the market growth can be attributed to other factors including lifestyle up-gradation, unmet medical needs of the patients, increasing incidences of genetic disorders, and escalating smoking population. The market is expected to gain significant traction with the medical advancements focusing patients suffering from myelofibrosis. For instance, development of a molecule, CYT387 or Momelotinib, by Gilead Sciences for treating primary myelofibrosis and the innovation of current drug, ruxolitinib, by Incyte Corporation to develop a substitute dosing strategy in patients with myelofibrosis.

However, limited awareness of the novel therapies and high costs involved in treatment are the factors restricting the growth of the global myelofibrosis treatment market.