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Waldenstrom's Macroglobulinemia (WM) Treatment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

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  • 110 Pages
  • January 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5616722
UP TO OFF until Mar 31st 2024
Waldenstrom's Macroglobulinemia (WM) treatment market is anticipated to expand at a CAGR of 5.2% during the forecast period.

The worldwide health crisis of COVID-19 has affected the healthcare industry including its operations, commercial sales, regulatory interactions and inspections, and clinical trial recruitment and participation. COVID-19 has resulted in significant governmental measures being implemented to control the spread of the virus, including quarantines, travel restrictions, social distancing, and business shutdowns. Additionally, the commercial or clinical supply of the medicines and drug candidates has also been impacted due to the shutdown of the company’s, or our third-party manufacturing facilities, distribution channels, and transportation systems, or shortages of raw materials and drug products which has reduced the company's revenue. For instance, AbbVie reported a 12.4% decrease in the net revenue generated by Imbruvica, used for waldenstrom's macroglobulinemia, in 2020 as compared to 2019.

The increasing prevalence and incidence of cases of waldenstrom's macroglobulinemia and increasing drug approvals by the regulatory bodies are escalating the growth of the market. The growth of the market is attributed to the increasing development of targeted and combination therapies across the globe. Furthermore, the rising geriatric population is expected to propel market growth. For instance, according to the statistics published by MedlinePlus genetics, it was observed that around 1,000 - 1,500 people are diagnosed with waldenstrom's macroglobulinemia (WM) each year in the United States, and is highest among individuals aged 60-79 years with an incidence rate of 3.4 per million among men and 1.7 per million among women in the United States. In addition, waldenstrom is predominantly affecting Caucasians.

Growing awareness about waldenstrom macroglobulinemia in low and middle-income countries, development of new diagnostic methods, rise in the need for novel therapies, and a constant number of clinical trials and heavy investments by the pharmaceutical companies and the government, can create remunerative opportunities and are speculated to bolster the market growth in the foreseeable future. For instance, in Nov 2020 AstraZeneca initiated a Phase II trial of bendamustine, rituximab, and the second-generation BTK Inhibitor Acalabrutinib in previously untreated waldenstrom's macroglobulinemia patients which is expected to complete by 2030. Bristol-Myers Squibb developing a Dasatinib drug in patients with waldenstrom macroglobulinemia (WM) progressing on Ibrutinib is under Phase 1 trial and is expected to be complete by 2024. BeiGene’s Brukinsa, Abbvie’s Imbruvica, and Gilead’s ibrutinib are the approved drugs that are being prescribed to the patients. Takeda has the highest number of completed clinical trials for waldenstrom's macroglobulinemia.

However, the Inadequate accessibility of disease-specific treatment and unmet needs including lack of curative therapies, high treatment cost, dearth of skilled workers, and strict safety guidelines are projected to impede the growth of the market.

Waldenstrom Macroglobulinemia Market Trends

Targeted Therapy Segment Expects to Register a High CAGR in the Forecast Period

The targeted therapy segment is expected to hold the largest share in this market segment. It is considered an is emerging pharmacotherapy for cancer. It is aimed at the disease blocking the growth and spread of cancer cells while minimizing the off-target side effects to the healthy/ normal cells. This leads to its higher adoption among other drugs, leading to its dominance in the market. Targeted therapy for waldenstrom macroglobulinemia includes monoclonal antibodies. For instance, anti-CD20 antibodies include obinutuzumab (Gazyva), ofatumumab (Arzerra), and rituximab-abbs (Truxima), Ibrutinib, Bortezomib (Velcade) are mostly used targeted therapy drugs for waldenstrom macroglobulinemia. According to the data published by National Cancer Institute, it has been observed that the targeted therapy agents, such as Imbruvica, Velcade, and Kyprolis, have shown improved treatment outcomes.

Furthermore, rising the number of pipeline candidates and an increased number of drug approvals are anticipated to propel the growth of this segment in the forecast period. For instance, according to ClinicalTrial.gov, 318 clinical studies are conducted by Institutes in collaboration with companies, 285 completed clinical studies, and 96 studies are either terminated, suspended, or withdrawn. In addition, Curis, X4, InnoCare, Ascentage, and Cellectar have 1 clinical trial in waldenstrom's macroglobulinemia disease.

Moreover, targeted therapy is being evaluated in COVID-19 treatment. Thus, encouraging clinicians to pursue targeted therapy agents during the pandemic is likely to create opportunities during the forecast period.

North America Dominates the Market and Expects to do Same in the Forecast Period

North America dominates waldenstrom's macroglobulinemia (WM) treatment market due to the rise in the incidence and prevalence of the disease coupled with new product launches in this region is responsible for the dominance of the market and continues to hold a health share in the market in the foreseeable period. As per the statistics provided by NORD (National Organization for Rare Disorders), waldenstrom’s macroglobulinemia is affecting about 1 in 3.4 million American men and about half that number of American women. According to the data published by National Organization for Rare Disorders, it has been observed that the incidence of waldenstrom's macroglobulinemia is estimated to be about 5 per 1,000,000 people over the age of 50. Increasing research and development activities by the key players and the increased incidence of waldenstrom macroglobulinemia in the region are driving the growth of the market. Furthermore, the presence of major cancer foundations and increasing government grants to the medical institution, and growing awareness about the disease are also contributing to the growth of the market. Furthermore, the accessibility of medical resources will further boost the growth of waldenstrom's macroglobulinemia (WM) treatment market in the region during the forecast period. Many organizations that are supporting this disease are the American Society Center, International waldenstrom’s macroglobulinemia Foundation (IWMF), and Lymphoma Research Foundation.

Waldenstrom Macroglobulinemia Market Competitive Analysis

The Waldenstrom's Macroglobulinemia (WM) treatment market is moderately competitive and consists of several major players. In terms of market share, few major players currently dominate the market. With the rising patient awareness levels and high prevalence of diseases, and a rising number of therapies and drugs, few other smaller players are expected to enter the market in the coming years. Some of the major players of the market include BeiGene, Curis, Inc., X4 Pharmaceuticals, TG Therapeutics, Pharmacyclics LLC.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Target Diseases
4.2.2 Development and Commercialization of effective Product
4.3 Market Restraints
4.3.1 Huge cost of treatment and lack of skilled persons
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Treatment Types
5.1.1 Plasmapheresis
5.1.2 Targeted therapy
5.1.3 Chemotherapy
5.1.4 Others
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Middle East and Africa
5.2.5 South America
6.1 Company Profiles
6.1.1 Johnson & Johnson Services, Inc.
6.1.2 AbbVie Inc.
6.1.3 Takeda Pharmaceutical Company Limited
6.1.4 BeiGene
6.1.5 AstraZeneca
6.1.6 Cellectar Biosciences, Inc
6.1.7 TG Therapeutics
6.1.8 Curis, Inc.
6.1.9 X4 Pharmaceuticals
6.1.10 InnoCare
6.1.11 Ascentage Pharma
6.1.12 Pharmacyclics LLC

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Johnson & Johnson Services, Inc.
  • AbbVie Inc.
  • Takeda Pharmaceutical Company Limited
  • BeiGene
  • AstraZeneca
  • Cellectar Biosciences, Inc
  • TG Therapeutics
  • Curis, Inc.
  • X4 Pharmaceuticals
  • InnoCare
  • Ascentage Pharma
  • Pharmacyclics LLC