Graft Versus Host Disease Market to Reach $10.4 Bn, Globally, by 2031 at 13.5% CAGR: Allied Market Research
Surge in geriatric population and an increase in the prevalence of nephrological, leukemia, myeloma, and lymphoma cancer drive the global graft versus host disease market.
PORTLAND, Ore., July 14, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, 'Graft Versus Host Disease Market by Product Type (Corticosteroids, Monoclonal antibodies, Immunosuppressants, Others), by Treatment Type (Acute GVHD, Chronic GVHD), by End Use (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031.' According to the report, the global graft versus host disease industry was estimated at $3.0 billion in 2021, and is anticipated to hit $10.4 billion by 2031, registering a CAGR of 13.5% from 2022 to 2031.
Prime determinants of growth-
Surge in geriatric population and increase in the prevalence of nephrological, leukemia, myeloma, and lymphoma cancer drive the global graft versus host disease market. Furthermore, rise in number of bone marrow transplants being carried around the globe to treat specific types of cancers has supplemented the growth even more. Simultaneously, rise in the GVHD-prevalent population, advancements in the diagnostic measures of the disease, approval of novel treatments, and a greater range of prophylaxis options are expected to create lucrative opportunities in the industry.
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Covid-19 scenario-
- A sharp decline in the number of transplantation procedures.
- The fact that it requires the routine use of reusable equipment with close contact with patients impacted the global graft versus host disease market negatively, especially during the initial period.
- However, the market has already gotten back on track.
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The Acute GVHD segment to dominate by 2031-
By treatment type, the acute GVHD segment contributed to nearly three-fifths of the global graft versus host disease market share in 2021, and is expected to lead the trail by 2031. The same segment is also expected to exhibit the fastest CAGR of 5.8% from 2022 to 2031. Rise in the geriatric population coupled with increase in number of allogeneic transplantations drive the segment growth.
The hospitals pharmacies segment to maintain the lion's share-
By end-use, the hospitals pharmacies segment accounted for more than two-fifths of the global graft versus host disease market revenue in 2021, and will dominate by 2031, due to surge in demand for transplantation drugs. At the same time, the online pharmacies segment would manifest the fastest CAGR of 14.0% during the forecast period, owing to the Covid-19 pandemic in which the buying pattern of most of the individuals has changed to online pharmacies.
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North America garnered the major share in 2021-
By region, North America garnered the major share in 2021, holding more than two-fifths of the global graft versus host disease market. This is attributed to increase in the number of organ donations of deceased persons for transplantation, rise in allogenic transplantation procedure, and surge in cancer patients in this province. Simultaneously, Asia-Pacific would cite the fastest CAGR of 15.9% throughout the forecast period, due to increase in demand for drugs such as corticosteroids and monoclonal antibodies across the region.
Key players in the industry-
- Asahi Kasei
- AbbVie
- Bristol Myer Squibb
- GlaxoSmithKline PLC
- Sanofi.
- Incyte Corporation
- Pfizer
- Accord Healthcare Limited
- Merck & Co
- Novartis
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