Middle East and Turkey Immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market, 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) was valued at US$ 82.23 million in 2019, and is projected to exhibit a CAGR of 4.0% over the forecast period (2019 - 2027), as highlighted in a new report published by Coherent Market Insights.
Increasing number of clinical trials, rising government support and healthcare spending for development of better medical facilities in the Middle East are the major factors that are expected to drive growth of the Middle East and Turkey immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market. Various organizations are focusing on developing new solutions for treatment of immune thrombocytopenic purpura which is expected to favor growth of the Middle East and Turkey immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market. For instance, in November 2018, Novartis Pharmaceuticals started a clinical trial to study the ability of Eltrombopag to induce sustained treatment-free remission in ITP subjects who relapsed or failed to respond to initial steroids treatment. It is an interventional clinical trial with more than 100 participants. The clinical trial is in phase 2 and is expected to complete in May 2022.
Furthermore, launch of new healthcare plans and programs is expected to fuel growth of the Middle East and Turkey immune thrombocytopenic purpura drugs market. For instance, in 2010, UAE Vision 2021 was launched by the Prime Minister of the U.A.E. As part of the Vision 2021 plan, UAE is aiming to provide 'world class healthcare' in the UAE by pushing for greater preventive measures to counter lifestyle-related diseases and rare diseases by implementing an accelerated drug registration system, and including health as a key sector within the country's wider innovation strategy.
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Increasing healthcare expenditure in the UAE is expected to boost the market growth over the forecast period. 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. 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.
Browse 20 Market Data Tables and 21 Figures spread through 114 Pages and in-depth TOC on "Middle East and Turkey Immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market, 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) - Global Forecast to 2027."
Moreover, many pharmaceutical companies are focusing on entering the Middle East region, which is a highly untapped region. 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. The company invested US$ 365 million for construction of the plant. The project is implemented in three stages, starting in 2018 and ending in 2021.
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Key Takeaways of the Middle East and Turkey Immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market:
The Middle East and Turkey immune Thrombocytopenic Purpura (ITP) Treatment Drugs Market is expected to expand at a CAGR of 4.0% during the forecast period (2019–2027) owing to increasing government support, clinical trials, and healthcare expenditure.
Among drug type, the steroid segment is expected to hold major revenue share in 2027. Various organizations are focusing on R&D activities to develop immune thrombocytopenic purpura drugs. Ongoing research has analyzed the efficacy and safety of high-dose dexamethasone and prednisone for treatment of patients who have been newly diagnosed with ITP. The corticosteroid drug has not received approval in any of the Middle East countries for treating 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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