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Idiopathic Thrombocytopenic Purpura (ITP) Therapeutics Market is Expected to Grow at a CAGR of 5.29% from 2021 to 2028

The global idiopathic thrombocytopenic purpura (ITP) therapeutics market is expected to reach USD 840.68 million by 2028, at a CAGR of 5.29% from 2021 to 2028.

NEWARK, UNITED STATES, NEW JERSEY, October 28, 2021 /EINPresswire.com/ -- As per the report published by The Brainy Insights, the global idiopathic thrombocytopenic purpura (ITP) therapeutics market is expected to grow from USD 554.61 million in 2020 to USD 840.68 million by 2028, at a CAGR of 5.29% during the forecast period 2021-2028. The North America region emerged as the largest market for the idiopathic thrombocytopenic purpura (ITP) therapeutics market and valued at USD 228.50 million in 2020. This is because North America is growing tremendously in terms of the healthcare industry. Rising occurrence of diseases coupled with the presence of high treatment rates, and favourable government initiatives, propelling the growth of the market in the North America region. On the other side, the Asia Pacific region is anticipated to grow at a considerable growth rate in the global idiopathic thrombocytopenic purpura (ITP) therapeutics market, owing to rising healthcare expenditure in the region. Moreover, sophisticated healthcare infrastructure in the countries such as Japan and Australia, fuelling the growth of the market.

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Some of the major companies in the global idiopathic thrombocytopenic purpura (ITP) therapeutics market are Hoffman-L Roche, Novartis, GlaxoSmithKline, Eisai, Amgen, GrifolsBiologicals Inc., Baxter, CSL Behring, Bristol-Myers Squibb, and Roxane among others. To enhance their market position in the global idiopathic thrombocytopenic purpura (ITP) therapeutics market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. For instance, in October 2019, Amgen announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for Nplate (romiplostim) for the treatment of pediatric patients one year of age and older with immune thrombocytopenia (ITP) for at least six months who have not sufficient response to immunoglobulins, corticosteroids, or splenectomy.

The product type segment is divided into corticosteroids, intravenous immunoglobulins, anti-D immunoglobulin, thrombopoietin receptor agonists (TPO-RA), and others. Anti-D immunoglobulin is expected to grow at the highest CAGR of 6.8% over the forecast period. Anti-D immunoglobulin adoption is rising for the treatment of ITP and now considered as a valid option. The treatment type segment includes spleenectomy and oral corticosteroids. The oral corticosteroids segment held the largest market share of 65.2% in 2020. This is mainly due to it is widely used as first-line therapy for the treatment of idiopathic thrombocytopenic purpura (ITP) for both adults and children.

The distribution channel segment includes drug stores, retail pharmacies, and others. The retail pharmacy accounted for the major market share and valued at USD 264.32 million in 2020. This is attributed to the increasing number of trend towards oral therapeutic solutions and procurement of these drugs through retail pharmacies.

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Global idiopathic thrombocytopenic purpura (ITP) therapeutics market is witnessing a considerable growth owing to increasing demand for the combination therapies for the treatment of idiopathic thrombocytopenic purpura (ITP). When first-line therapy fails for effective treatment, alternative therapies are required to treat the disease, including second- and third-line therapies. However, lack of awareness of the disease amongst people and various side effects of corticosteroids, are some of the factors likely to hinder the market growth, over the forecast period.

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