Purpura Therapy Drug: Introduction
- Purpura, also referred to as blood spots or bleeding of the skin, is a purple spot that can be seen most easily on the skin. Spots on organs and mucosal membranes may also be observed, including the membranes inside the mouth. These blood spots are painful and can occur at any age and hence, their treatment is gaining popularity.
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- There are two types of purpura: nonthrombocytopenic and thrombocytopenic. Nonthrombocytopenic purpura patients have normal blood platelet levels, while Thrombocytopenic purpura patients have a lower than normal platelet count.
Key Drivers of Global Purpura therapy Drug Market
- Governmental initiatives and regulation such as Orphan drug act, U.S., the Orphan Drug Policy Therapeutic Goods Act and Regulations, Australia and the Orphan Drug Regulation, Japan are likely to drive the market during the forecast period. Additionally, increase in research & development expenses from major pharmaceutical companies to develop new treatment options for purpura further drives the market.
- Major market players are focusing on to launch new products in untapped regions, partnerships, collaborations, and acquisitions are likely to propel the purpura therapy drug market during the forecast period. In August 2019, Intas Pharmaceuticals Ltd launched a generic version of romiplostim for the treatment of chronic idiopathic thrombocytopenic purpura (ITP) in India. In 2018, Ablynx gained approval from European Commission to develop Cablivi, a nanobodoy-based medicine. The medicine is one-of-its-kind which, when combined with plasma exchange and immunosuppression, can reduce the time taken by the platelet count to return to normal. Ablynx can acquire a strong hold in the market against its rivals owing to this approval.
- Increase in use of combination therapy in the treatment of purpura is likely to drive the purpura therapy drug market. Combination therapies exhibit less side-effects as compared to conventional drugs for the treatment of diseases. Moreover, these therapies are cost-effective and exhibit more positive results in patients. Consequently, pharmaceutical companies are focusing on the development of combination therapy for purpura disease.
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Corticosteroids to be Highly Promising Segment
- Based on drug type, the global purpura therapy drug market can be segmented into corticosteroids, intravenous immunoglobulin, anti-D immunoglobulin, TPO-RA, and others
- The corticosteroids segment accounted for a prominent share of the global purpura therapy drug market in 2020. This segment is expected to dominate the purpura therapy drug market, as it is the first line of treatment of purpura and available at a lower price.
Thrombocytopenic Purpura to be Highly Promising Segment
- Based on type, the global purpura therapy drug market can be segmented into nonthrombocytopenic or allergic and thrombocytopenic purpura
- The thrombocytopenic segment accounted for a prominent share of the global purpura therapy drug market in 2020. The segment is expected to dominate the purpura therapy drug market due to an increase in number of patients suffering from thrombocytopenic purpura.
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Retail Pharmacies to be Highly Promising Segment
- In terms of distribution channel, the global purpura therapy drug market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies. Retail pharmacies was a prominent segment, in terms of revenue, in 2020. It is anticipated to expand at a robust growth rate during the forecast period.
- Most of the purpura therapy drugs are easily available in retail pharmacy stores and high footfall of patients are likely to drive the retail pharmacies segment during the forecast period
North America to Dominate Global Purpura therapy Drug Market
- In terms of region, the global purpura therapy drug market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global purpura therapy drug market in 2020. It is expected to maintain its leading position during the forecast period. Dominance of the region can be attributed to high penetration of pupura therapeutics in emerging markets of China, Taiwan, India, and South Korea. Furthermore, rising prevalence of purpura disease in the region and focus of major market players on the region are likely to propel the market in Asia Pacific.
- The market in North America is projected to expand at a significantly high growth rate during the forecast period, owing to an increase in number of patients with purpura, rise in awareness about diseases, and new product launches in the region
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Key Manufacturers Operating in Global Market
The global purpura therapy drug market was highly fragmented in 2019. Key manufacturers operating in the global market are:
- Bristol-Myers Squibb Company
- Pfizer Inc.
- GlaxoSmithKline Plc
- Novartis AG
- Hovione
- Sanofi
- F. Hoffmann-La Roche AG
- Amgen Inc
- Grifols Biologicals Inc
- Ablynx NV
- Biogen Inc
- Shire Plc (Takeda Pharmaceutical Company Limited)
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