Middle East And Turkey Immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market Value Accrue with Highest Revenue US$ 185 Million during 2020 to 2027, Owing to Increasing R&D in the Treatment of Immune Thrombocytopenic Purpura
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According to Middle East and Turkey Immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market Report, by Drug Type (Steroid, Immunoglobulins, Thrombopoietin Receptor Agonist and Others, by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), and by Country (Turkey, Israel, Egypt, Saudi Arabia, UAE, and Rest of Middle East), published by Coherent Market Insights, the Middle East and Turkey immune thrombocytopenic purpura (ITP) treatment drugs market was valued at US$ 82.23 million in 2018 and is projected to exhibit a CAGR of 4.0% over the forecast period (2019 – 2027).
Increasing R&D in the treatment of immune thrombocytopenic purpura is expected to propel growth of Middle East and Turkey immune thrombocytopenic purpura (ITP) treatment drugs market over the forecast period. For instance, in November 2018, Novartis Pharmaceuticals initiated a clinical trial to assess the efficacy of Eltrombopag in the treatment-free remission in ITP subjects who relapsed or failed to respond to initial steroids treatment.
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Government initiatives to enhance healthcare are expected to boost growth of Middle East and Turkey immune thrombocytopenic purpura drugs market. For instance, in 2010, the government of U.A.E launched UAE Vision 2021 to enhance healthcare in the country. Furthermore, in 2015, the UAE government launched a new health insurance scheme in Dubai. Under this scheme 130,000 people get healthcare at 23 private hospitals, and more than 500 medical clinics in and around Dubai. Increasing healthcare expenditure is also expected to aid in growth of the market. For instance, according to the Export Gov. 2019 report, UAE’s healthcare expenditure was US$ 13.7 billion in 2018, and it is expected to reach US$ 18.3 billion by 2023.
Major players in the market are focused on adopting business expansion strategies. For instance, in March 2018, Felix Pharmaceuticals Industries announced the construction of a pharmaceutical plant and logistics center at the Salalah Free Zone in Oman, with an investment of US$ 365 million.
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- The Middle East and Turkey immune thrombocytopenic purpura (ITP) treatment drugs market is expected to witness a CAGR of 4.0% during the forecast period (2019–2027)
- Among drug type, the steroid segment is expected to account for the largest market share in 2027
- The corticosteroid drug has not received approval in any of the Middle East countries for treatment of ITP
- Major players operating in the Middle East and Turkey Immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market include Amgen Inc., Octapharma AG, Novartis AG, Swedish Orphan Biovitrum AB, and Rigel Pharmaceuticals, Inc.
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