Primary Myelofibrosis Market Report and Forecast 2024-2032

Primary Myelofibrosis Market Outlook

The primary myelofibrosis market size was valued at USD 877.43 million in 2023, driven by the increasing prevalence of myelofibrosis across the 7 major markets. The market size is anticipated to grow at a CAGR of 5.7% during the forecast period of 2024-2032 to achieve a value of USD 1438.9 million by 2032.

Primary Myelofibrosis: Introduction

Myelofibrosis is a rare blood cancer where scar tissue forms in your bone marrow. It is a type of chronic leukemia that involves too many abnormal blood cells being made. Eventually, these cells can replace normal cells. Treatment goals mainly involve managing symptoms and conditions that arise, including anemia and an enlarged spleen. Primary myelofibrosis is a condition characterized by the buildup of scar tissue (fibrosis) in the bone marrow, the tissue that produces blood cells. Because of the fibrosis, the bone marrow is unable to make enough normal blood cells. The shortage of blood cells causes many of the signs and symptoms of primary myelofibrosis.

Primary Myelofibrosis Market Analysis

The market growth is driven by the increased prevalence of primary myelofibrosis. The key market players are increasing their efforts toward discovering and producing the best and most effective treatment options to increase life expectancy worldwide. The recent developments in the field of myelofibrosis have been exhibited by the FDA approval of Ojjaara (momelotinib) by GSK plc and the Fast Track Designation granted to selinexor by Karyopharm Therapeutics Inc., are anticipated to have a significant positive impact on the growth of the primary myelofibrosis market.

People with myelofibrosis often develop anemia, which is a problem resulting in more than 30% of patients discontinuing the treatment. Recently, the FDA has approved a new medicine called Ojjaara. This once-a-day pill targets JAK1, JAK2, and ACVR1. This medicine has exclusively been made for those with intermediate or high-risk myelofibrosis, including both primary and secondary types. By effectively targeting key disease manifestations such as anemia, constitutional symptoms, and splenomegaly, Ojjaara is poised to offer a comprehensive therapeutic solution and boost the primary myelofibrosis market growth.

Furthermore, the Fast Track Designation granted to selinexor exemplifies the industry's commitment to advancing innovative therapies for myelofibrosis patients, reflecting a proactive approach to expedite the development of potential treatments. As ongoing clinical trials explore various therapeutic options, the forecast period is expected to witness a surge in FDA-approved treatments for myelofibrosis, thereby propelling the growth of the primary myelofibrosis market. This increase in approved treatments not only expands the spectrum of available therapeutic interventions but also addresses the unmet needs of patients, contributing to the overall advancement of myelofibrosis care.

Primary Myelofibrosis Market Segmentations

Market Breakup by Type

• Spinocerebellar Primary Myelofibrosiss

• Primary Myelofibrosis-Telangiectasia

• Episodic Primary Myelofibrosis

• Others

Market Breakup by Services

• Treatment

• Diagnosis

Market Breakup by Dosage Forms

• Solid

• Liquids

• Others

Market Breakup by Age

• Adult

• Child

• Geriatric

Market Breakup by End User

• Hospitals

• Clinics

• Others

Market Breakup by Region

• United States

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

• Japan

Primary Myelofibrosis Market Overview

The increasing emphasis on research and development activities by key players is expected to potentially create lucrative opportunities for primary myelofibrosis treatment market growth. Primary myelofibrosis is a rare disease, with an annual incidence of approximately 0.5-1.5 cases per 100,000 individuals in the United States. The incidence rate of myelofibrosis ranged from 0.1 to 1 case per 100,000 per year. The additional market growth can be attributed to the increasing awareness regarding Primary Myelofibrosis (PMF) treatment and the rise in the number of patients is also poised to result in increased production of more effective and targeted treatment drugs and JAK inhibitors.

The healthcare sector has been improving, and favorable government initiatives, reimbursement policies, and changing dietary patterns are collectively contributing to the primary myelofibrosis market growth. These factors, along with the busy lifestyle, are contributing to the growth of the market. Additionally, the market is expected to grow further due to increased investments in research and development activities aimed at developing precise treatments for myelofibrosis in the forecast period.

Geographically, North America is currently dominating the regional market and is expected to drive market growth in the forecast period as well. The market growth is expected to be driven by the increased research and development activities by key players in order to develop more effective and targeted treatment options for the patients, resulting in better patient outcomes. Also, the presence of some of the key players in the region is also propelling the market growth.

Primary Myelofibrosis Market: Competitor Landscape

The key features of the 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:

• Bristol-Myers Squibb Company

• Amneal Pharmaceuticals, Inc.

• CTI BioPharma Corp

• Actuate Therapeutics Inc.

• Pfizer Inc.

• Galecto

• Incyte Corporation

• AbbVie Inc.

• GlaxoSmithKline plc

• Imago BioSciences

• Sanofi

• F. Hoffmann-La Roche Ltd

• Mylan NV

• Hikma Pharmaceuticals PLC

• Bayer AG

Please 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