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Global Splenomegaly Therapeutics Market Is Expected to Reach USD 2.89 Billion by 2026 : Fior Markets

8 March 2020

Newark, NJ, March 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global splenomegaly therapeutics market is expected to grow from USD 2.08 Billion in 2018 to USD 2.89 Billion by 2026 at a CAGR of 4.47% during the forecast period 2019-2026.

Increasing demand for targeted therapy, adoption of molecular-targeted therapies for the treatment of splenomegaly and R&D investments are the factors fuelling the splenomegaly therapeutics market. Targeted therapy is a unique method which is used to treat malignancies without hurting the peripheral healthy cells of the body. This is accomplished by singling out and aiming the specific receptors present in cancer cells. The beneficial benefits of this innovative approach are boosting many institutes to increase their R&D investments in targeted therapy. The adoption of molecular-targeted therapies for the treatment of splenomegaly to reduce the spleen size will continue to improve.

Splenomegaly is a codition when enlargement of the spleen happens. The spleen's main functions are to filter the blood and help guard the body against pathogens. The spleen lies in the upper left of the abdomen, secured by the rib cage. Splenomegaly is an indication of an underlying condition, such as severe liver disease, leukemia, or mononucleosis. The growing demand for targeted therapy has driven the growth of splenomegaly therapeutics market. The therapeutics enables to treat distortions without destroying the peripheral healthy cells of the body. Also, the implementation of molecular targeted therapies for the treatment of splenomegaly to decrease the spleen size will supplement market growth. Symptoms or signs for splenomegaly may include abdominal pain, chest pain, chest pain similar to pleuritic pain when stomach, bladder or bowels are full, back pain, early satiety because of splenic encroachment, or the symptoms of anemia by reason of accompanying cytopenia. Symptoms of splenomegaly may include a palpable left upper quadrant abdominal mass or splenic rub. It can be spotted on physical examination by using Castell's sign, Traube's space percussion or Nixon's sign, but an ultrasound can be used to approve diagnosis. In patients where the probability of splenomegaly is more, the physical exam is not good enough to detect it as it is not sensitive enough, abdominal imaging is indicated in such patients.

Soaring demand for targeted therapy, molecular-targeted therapies acceptance for the treatment of splenomegaly, and R&D investments are the key driving factors for the splenomegaly therapeutics market. The strict regulatory approval process may limit the growth of market. However, upsurge of viral infectious diseases is expected to boost the splenomegaly therapeutics market over the forecast period.

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Key players operating in the global splenomegaly therapeutics market include Incyte Corporation, Merck & Co., Novartis AG, GlaxoSmithKline plc (GSK), and Sanofi among others. To enhance their market position in the global splenomegaly 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 January 2019, GSK completed the acquisition of TESARO. This acquisition strengthens GSK’s pharmaceutical business, accelerating the build of GSK’s pipeline, including the commercial capability in oncology.
Key players are offering greater opportunities and continuously focused on new product developments and venture capital investments to obtain market share. For instance, in December 2019, Sanofi had entered into an agreement to acquire Synthorx. This acquisition fits perfectly with the organization’s strategy to build a portfolio of high-quality assets and to lead with innovation, and also to build the oncology franchise with possibly practice-changing medicines.

The drug therapy segment registered highest market share of 53.19% in 2018

Product segment is divided into drug therapy and vaccination. The drug therapy segment registered highest market share of 53.19% in 2018. The growing consumption of antibiotic drugs to treat splenomegaly caused by bacterial or viral infection as well as patients suffering from splenomegaly depends more on drug therapy than vaccination.

The congestive splenomegaly segment registered highest market share of 37.19% in 2018

Type segment is categorized into congestive splenomegaly, infiltrative splenomegaly, neoplastic splenomegaly, and immune splenomegaly. In congestive splenomegaly, the spleen becomes distended with blood because of decreased flow through the splenic vein, which empties into the portal vein. This impairment causes congestive cardiac failure.

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Regional Segment Analysis of the Splenomegaly Therapeutics Market

North America (U.S. , Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region held the largest market share of approximately 38.78% in 2018 where as the Asia Pacific region held the second dominant position in the global splenomegaly therapeutics market. Increasing focus of governments and non-government organizations, presence of major players, and rapid technological advancements are some of the factors that led to the growth of splenomegaly therapeutics market in North America region. Autoimmune disorders in high occurrence among adults in the U.S., Increase in occurrence of lifestyle-related disorders and increasing in awareness about healthcare prevention are estimated to drive the North America market during the forecast period. For instance, according to the American Autoimmune Related Disorder Association, approximately 50 million individuals in the U.S. are affected by autoimmune disorders. Asia Pacific is fastest growing region due to the increasing adoption of splenomegaly therapeutics as well as government initiatives for awareness about the healthcare and treatments are creating opportunity for the growth of the market.

About the report:

The global splenomegaly therapeutics market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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