Thrombopoietin Receptor Agonists Market Size Shares and Trends
The global thrombopoietin receptor agonists market, valued at $1.85 billion in 2023, is projected to reach $3.74 billion by 2034, with a CAGR of 6.6%. Demand is driven by these drugs’ role in boosting platelet counts to reduce health risks.
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Thrombopoietin Receptor Agonists Market Trends
In May 2024, Amgen reported its financial results for Q1 2024, highlighting that Nplate® (romiplostim) sales reached $317 million. This growth was driven mainly by a higher sales volume, leading to a 13% increase in annual sales (excluding U.S. government orders). Earlier, in January 2023, Intas Pharmaceuticals launched a biosimilar version of romiplostim in India. A study published in the Indian Journal of Pathology & Microbiology showed that this biosimilar was effective for Indian adults with immune thrombocytopenia (ITP).
Market Opportunity: Expanding Approvals
One of the main obstacles for the thrombopoietin receptor agonists (TPO-RA) market is limited approval in some countries. While the U.S. FDA and the European Medicines Agency have approved certain TPO-RA drugs, approval is often limited to specific health conditions. This presents a growth opportunity, as companies, government agencies, and research groups could work together to develop improved TPO-RA treatments that could gain broader approvals. Expanding approvals would allow these drugs to be used in more countries and for a wider range of health conditions.
Market Challenge: Safety Concerns
Despite their benefits, TPO-RAs can cause adverse side effects, leading to strict usage restrictions that pose growth challenges for the market. Some side effects include rebound thrombocytopenia, thrombocytosis, thrombotic complications, increased bone marrow reticulin, antibody formation, cataracts, and elevated liver enzymes. These risks require cautious use, which can limit market expansion.
Regional Insights
In 2023, North America led the global TPO-RA market, thanks to its advanced healthcare systems, significant R&D efforts, widespread healthcare access, and a strong presence of major market players. The U.S., in particular, dominated the North American market, followed by Canada, driven by a rising focus on improved therapeutics, especially in response to chronic liver disease and cancer. The American Cancer Society anticipates about 20,800 new cases of acute myeloid leukemia (AML) in the U.S. in 2024, with an estimated 11,220 deaths primarily among adults. In Canada, the Government projected 6,700 new leukemia cases (excluding Quebec) and 3,100 fatalities in 2022, with AML patients facing a high five-year mortality rate.
Asia-Pacific is expected to experience the fastest growth during the forecast period.
The rapid growth in this region is largely due to increased research and development on cancer and other diseases requiring TPO-RAs. Additionally, the expanding population drives demand for healthcare solutions, prompting governments and organizations to take meaningful steps to advance healthcare and pharmaceutical industries in the region.
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