Polycythemia Vera Market Report and Forecast 2024-2032

Polycythemia Vera Market Outlook

The polycythemia vera market size is expected to grow at a CAGR of 14% during the forecast period of 2024-2032. The market growth is likely to be driven by the advanced research and development activities to develop targeted therapies for patients.

Polycythemia Vera Market Overview

Polycythemia vera is a type of rare blood cancer where the body produces a lot of red blood cells, leading to blood thickening and blood clot formation. Itchiness (especially after a warm bath or shower), numbness, a feeling of fullness or bloating due to enlarged spleen, unusual bleeding are some of the early symptoms. Polycythemia vera belongs to the BCR-ABL1–negative myeloproliferative neoplasms and poses an elevated risk of myelofibrosis progression and acute myeloid leukemia.

Polycythemia Vera Epidemiology

The polycythemia vera prevalence rate is around 22 cases per 100,000  people. It can affect all the ethnic groups, however, the incidence observed is slightly higher among Jewish patients of Eastern European descent than Asians or other Europeans. In United States, it affects around 0.6 to 1.6 per million people. The median age of being affected by the disease is around 60 years of age, with cases being slightly higher in males than females. In younger patients, polycythemia is expected to be higher in people with hemoglobinopathies and congenital cyanotic heart diseases. Consequently, there has been key focus on developing novel therapeutics to meet the high polycythemia vera market demand.

Growth in FDA Approvals for Delivering Quality Treatment

In September 2023, the FDA offered fast track designation to a new polycythemia vera treatment alternative called MWTX-003  (also known as DISC-3405). Developed by Disc Medicine Inc., it is an investigational anti-TMPRSS6 monoclonal antibody developed to increase hepcidin production and suppress serum iron. The rise in number of drugs under clinical trials is expected to boost the polycythemia vera market growth in the forecast period.

Increased Investigation in New Drug Formulas

A University of Birmingham -coordinated trial conducted in May 2023 revealed that Ruxolitinib, a drug that targets JAK2 gene, showed promising results in patients by controlling the blood count and reducing mutated JAK2 by 50%. When compared to existing therapies, Ruxolitinib led to fewer disease related events, slower disease progression and reduced spleen size effectively as well. As there is no permanent cure for the condition and associated, the research activity in new drugs is a key driver for enhanced polycythemia vera market share in upcoming years.

Advancements in Combination Therapies to Manage Treatment Resistance in Patients

Phlebotomy (blood withdrawal through a needle) has been conventionally used in patients. However, the treatment may differ based on a patient’s history of thrombosis and other dynamics. In the case of high-risk disease, cytoreductive therapy with either hydroxyurea or interferon alfa (IFN-α)  may be applied to treat inflammation. Furthermore, the polycythemia vera market trend also involves rising technical advances in the biotechnological domain along with a deeper understanding of genetics. Understanding disease modification with respect to cytokine level modulations, along with hematologic, molecular, and histopathologic parameters and their association to clinical outcomes, is a major aspect of research.

Polycythemia Vera Market Segmentation

Market Breakup by Type

• Dasatinib

• Idelalisib

• Givinostat

• M-009

• Others

Market Breakup by Population

• Children

• Adults

Market Breakup by Treatment

• Phlebotomy

• Drug Therapy

Market Breakup by Route of Administration

• Oral

• Parenteral

Market Breakup by End User

• Hospitals

• Specialty Clinics

• Diagnostic Centers

• Research Institutes

• Others

Market Breakup by Region

• United States

• EU-4 and the United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom

• Japan

Polycythemia Vera Market Regional Analysis

In the forecast period, the United States is expected to dominate the polycythemia vera market. The market size can be attributed to a well-designed medical infrastructure, along with skilled healthcare professionals. The existence of prominent pharmaceutical and biotechnology companies also fosters market growth in the region.

With multiple mergers and acquisitions occurring in the region, Europe is a leading market for polycythemia vera. The presence of proactive authorities, such as the European Medicines Agency, plays a vital role in approving and labeling effective drugs for best possible outcomes in patients. Moreover, the well-structured medical and research infrastructure allows the development of new therapeutic approaches, significantly impacting the market positively. There is immense focus on spreading awareness of the condition via campaigns and programs.

Within the Asia Pacific, Japan is a major market with advanced technologies aiding better understanding the molecular and genetic basis of the disease. However, other emerging economies, such as India, China and South Korea are expected to observe notable polycythemia vera market growth in upcoming years. The growth in market size can be accredited to increasing improvements in the healthcare framework with the help of foreign fundings made in the region. The region is also witnessing a shift towards telemedicine and value-based care, which can play a critical role in fueling market growth.

Polycythemia Vera Market: Competitor Landscape

In August 2023, Agios Pharmaceuticals, Inc.,  announced their worldwide license agreement with Alnylam Pharmaceuticals, Inc. to commercialise their latest preclinical siRNA targeting TMPRSS6. The potential treatment for polycythemia vera targets TMPRSS6, a key driver of red cell production in the body. The partnership aims to combine Agios’ scientific expertise in rare hematologic diseases with Alnylam’s siRNA platform. The agreement includes an upfront payment of USD 17.5 million to Alnylam and makes it eligible to receive up to USD 130 million in addition sales milestones and other tiered royalties. Similarly, various companies are expanding their research related activities with collaborations and acquisitions to devise improved therapeutics.

The key features of the polycythemia vera market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Novartis

• Jakafi Ltd.

• Imago Biosciences

• ANP Technologies

• Miragen Therapeutics

• AOP Orphan Pharmaceuticals AG

• Incyte Corporation

• PharmaEssentiaI

• Promedior

• Hoffman La Roche Ltd

• Schering-Plough

• Eli Lilly and Company

• Otsuka America Pharmaceutical, Inc

• Zydus Cadila

• Gilead Sciences, Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report