Idiopathic Thrombocytopenic Purpura (ITP) is an autoimmune disease in which the body’s immune system mistakenly attacks and destroys platelets, which are important for normal blood clotting. ITP is the most common autoimmune disorder of the blood, affecting approximately one million individuals worldwide.
Global ITP therapeutics market is expected to reach USD 840.68 million by 2028, at a CAGR of 5.29% from 2021 to 2028.
The global ITP therapeutics market is driven by the increasing prevalence of autoimmune disorders, the growing availability of advanced treatments, and the rising number of clinical trials for novel drugs. In addition, the development of new drugs for ITP and the increasing number of collaborations between pharmaceutical companies and academic institutions are expected to have a positive impact on the market.
Major Setbacks in the Global Idiopathic Thrombocytopenic Purpura (ITP) Therapeutics Market
- High Cost of Treatment: Treatments for ITP are expensive, and the cost of treatment is a major restraint on the global market. Moreover, the cost of treatment varies depending on the country, and in some countries, the cost of treatment is higher than in others.
- Lack of Awareness: There is a lack of awareness among the general public and health care professionals about the symptoms, diagnosis, and treatment of ITP. This lack of awareness has resulted in a low adoption and usage rate of ITP therapeutics.
- Limited Treatment Options: The limited number of available drugs for treating ITP has been a major restraint on the global market. Currently, there are only a few drugs available for the treatment of ITP, and most of these drugs are expensive.
- Side Effects of Treatment: The side effects associated with the treatment of ITP can be severe, and this has resulted in a low adoption and usage rate of ITP therapeutics. The side effects can include nausea, fatigue, headache, and dizziness.
- Strict Regulatory Guidelines: The regulatory guidelines for the approval of ITP therapeutics are stringent, and this has resulted in a slow rate of growth of the market. Moreover, the approval process can be lengthy and costly, which further restricts the market growth.
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The global ITP therapeutics market is segmented based on drug type, route of administration, and region. Based on drug type, the market is segmented into corticosteroids, immunosuppressants, anti-D immunoglobulin, intravenous immunoglobulin, and other drugs. The anti-D immunoglobulin segment is expected to dominate the market, due to its efficacy and easy availability.
Based on route of administration, the market is segmented into oral and injectable. The injectable segment is expected to dominate the market due to the high efficacy of injectable drugs.
Based on region, the global ITP therapeutics market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the market, due to the presence of leading pharmaceutical companies and the presence of advanced healthcare infrastructure.
Some of the key players in the global ITP therapeutics market include AstraZeneca, Bristol-Myers Squibb, Pfizer, GlaxoSmithKline, Novartis, and Merck. These companies are increasingly focusing on developing novel drugs for the treatment of ITP, as well as collaborations and strategic alliances.
