The global progressive multifocal leukoencephalopathy treatment market is expected to garner a market value of US$ 1,320 million in 2023 and is expected to accumulate a market value of US$ 1,773.97 million by registering a CAGR of 3% in the forecast period 2023 to 2033. The market for progressive multifocal leukoencephalopathy treatment registered a CAGR of 2% in the historical period 2018 to 2022.
According to the latest studies, PML occurs in approximately one in 200,000 people. As per the same report, each year, it is estimated that 4,000 people develop PML in the United States and Europe combined. The increasing demand for these treatments is expected to lead to the development of new and innovative treatments, which will drive the growth of the market in the coming years.
North America is anticipated to acquire a market share of about 40% in the forecast period. This growth is attributed to the rising prevalence of the condition in the region. Furthermore, government initiatives and increase in the number of research partnerships are boosting the market growth across North America. Asia Pacific is a growing market due to a shift towards point-of-care healthcare. The increasing number of hospitals in India and China presents a promising market opportunity globally.
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Key Takeaways from the Market Study
- From 2018 to 2022, the Progressive Multifocal Leukoencephalopathy Treatment market grew at a CAGR of 2%.
- The global Progressive Multifocal Leukoencephalopathy Treatment market is expected to grow with a 3% CAGR during 2023 to 2033.
- As of 2033, the Progressive Multifocal Leukoencephalopathy Treatment Market is expected to reach US$ 1773.97 Million.
- According to the FMI analysis, hospital pharmacies account for the largest market share.
- North America is expected to possess 40% market share for the Progressive Multifocal Leukoencephalopathy Treatment market.
- The South and East Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering progressive multifocal leukoencephalopathy treatment.” says an FMI analyst
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Market Competition
Key players in the market include pharmaceutical companies such as NeoImmuneTech, Neurimmune, GlaxoSmithKline Plc, Sanofi S.A., Gilead Sciences, Inc., Allergan Plc., Novartis AG, AbbVie Inc., and Bristol-Myers Squibb Company along with healthcare providers and technology companies among other global players.
- In October 2022, Cellevolve Bio, Inc., a company focused on developing and commercializing cell therapies, announced that its Investigational New Drug (IND) application for CE-VST01-JC has been approved by the U.S. Food and Drug Administration (FDA). CE-VST01-JC is a JC Virus Specific T Cell Therapy that is being studied for the treatment of progressive multifocal leukoencephalopathy (PML) and has received orphan drug designation from the FDA.
- The safety and effectiveness of CE-VST01-JC will be tested in a global, multi-center, randomized, double-blind, placebo-controlled Phase 2 study called ASCEND-JC. The study is expected to enroll up to 60 patients across the US, Canada, and EU, with the first patient enrollment anticipated in the first half of 2023.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global progressive multifocal leukoencephalopathy treatment market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of indication, treatment, distribution channel, end-users and region.
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Key Segments Profiled in the Progressive Multifocal Leukoencephalopathy Treatment Industry Survey
Treatment:
- Anti-retroviral Therapy
- Antiviral/Anti JCV
- Other Symptomatic
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Indication:
- HIV/AIDS
- Organ Transplantation
- Multiple Sclerosis
- Hematologic Malignancies
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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