During the forecast period, the leukemia therapeutics treatment market is expected to record a CAGR of 7.1 per cent to reach a valuation of US$ 17 Bn by 2024, from a valuation of US$ 13 Bn in 2020.
The increased prevalence of acute lymphocytic leukemia (ALL), chronic lymphocytic leukemia (CLL), acute myeloid leukemia (AML), and chronic myeloid leukemia (CML), as well as growing authorization of novel and inventive medicines and immunotherapies, are driving leukemia therapeutics treatment market expansion.
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On account of the growing number of people suffering from leukemia, the global leukemia therapeutics treatment market is driven by technological developments and breakthroughs in the field of blood cancer diagnostics.
Moreover, raising public awareness about the benefits of preventive healthcare is likely to move the demand for leukemia therapeutics treatment forward throughout the forecast period.
Government initiatives and programs aimed at increasing cancer awareness are expected to drive leukemia therapeutics treatment market expansion until 2026.
Biopsy is the most prevalent technique of diagnosis for this type of cancer, although imaging is predicted to expand in the near future as technology improves and impacts the demand for leukemia therapeutics treatment.
Tyrosine kinase inhibitors dominated the global leukemia therapeutics treatment market due to their superior efficacy and fewer side effects when compared to the rest of the pharmacological class.
The majority of treatments and medications are delivered through intravenous, subcutaneous, intramuscular, and intrathecal injections.
Chemotherapy is expected to increase substantially over the next few years.
The increased incidence of leukemia cases is the primary factor driving the expansion of the chemotherapy segment and rising the demand for leukemia therapeutics treatment.
In order to maintain their competitive advantage and expand into new regional markets, many companies are focusing on developing breakthrough treatments for the treatment of leukemia.
Chemotherapy is, therefore, the most common treatment choice for most people with leukemia. Furthermore, an increase in financing for firms active in leukemia research is likely to improve the leukemia therapeutics treatment market.
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What are the Key Factors Impacting the Leukemia Therapeutics Treatment Market?
Leukemia can be diagnosed by bone marrow tests, platelet count, and WBC (white blood cell) differential count test. Leukemia can be treated by blood transfusion, immunotherapy, bone marrow transplantation, radiation therapy, and chemotherapy.
Commercially available drug in the market driving the demand for leukemia therapeutics treatment includes Gleevec, Bosulif, Sprycel, Iclusig and others.
Drugs that are in clinical trials expected to launch in the market within the next few (3 to 5) years include Bosutinib, Omapro, ga101/rg7159, Vidaza, Dacogen, Midostaurin, Vosaroxin, Quizartinib, Graspa, and Marqibo.
The leukemia therapeutics treatment market share consists of chronic leukemia, a type of blood cancer caused by uncontrolled growth of the WBC cells in our body.
Chronic leukemia is a type of myeloproliferative disease, which is characterized by chromosomal translocation.
Patients suffering from chronic leukemia show increased susceptibility to bacterial infections, thrombocytopenia, and anemia and may also have enlarged spleen, which causes pain on the left side.
The incidence rate of chronic leukemia is high in men and is the second most common type of cancer occurring in male adults, which further leads to high demand for leukemia therapeutics treatment.
Women who are above 50 years of age make up a huge part of leukemia therapeutics treatment market share as they largely suffer from this chronic disease.
Treatment for chronic leukemia depends on the phase of the disease that can be chronic, accelerated, or the blast phase and the treatment for chronic leukemia includes chemotherapy, stem cell transplants, and biologic therapies.
Acute myeloid leukemia therapeutics treatment market share is developing at a speedy pace. In the disease process, immature blood cells are present in the bone marrow.
Symptoms found in patients due to the disease are flu, loss of weight, body ache, body pain and spots on skin.
Chemotherapy, stem cell transplants and biologic therapies are the major factors included in the demand for leukemia therapeutics treatment.
About 90% of leukemia cases occur in middle age and progresses with aging.
Therefore, the leukemia therapeutics market is poised to grow with the rise in the aging population and increasing incidences of leukemia.
Drugs such as Gleevec, Sprycel and Iclusig are commercially available for the treatment of leukemia, taking the demand for leukemia therapeutics treatment forward.
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What are the Significant Drivers to the Leukemia Therapeutics Treatment Market Growth?
Gleevec was the first leukemia drug introduced in 2001. Since then, there has been a revolutionary change in the quality of life of patients as compared to the former chemotherapy drugs.
Globally the elderly people, 60 years and above, are growing, and it is expected that this age group will cross the 2 billion mark in 2050, stated by the United Nations Population Division. Hence the leukemia therapeutics market will also grow significantly.
Adverse events (cytotoxic) associated with nearly all kinds of leukemia therapeutics treatment might restrict the global market demand for leukemia therapeutics treatment.
How is the Leukemia Therapeutics Treatment Market Segmented on the Basis of Region?
North America dominates the global leukemia therapeutics treatment market due to the high prevalence rate of leukemia (acute, chronic) and extensive technological advancement (diagnosis) in this region.
Europe represents the second largest market demand for leukemia therapeutics treatment due to its large geriatric population base.
In addition, Asia-Pacific and RoW hold the third and fourth position in the global leukemia therapeutics treatment market, respectively, due to less prevalence rate of leukemia and lack of proper healthcare facilities in a few Asian and African countries.
The leukemia therapeutics treatment market will grow significantly and the total growth will depend on pipeline products and metabolic inhibitors, a tyrosine kinase receptor FLT -3 of Novartis, and some other capable molecules, improving the demand for leukemia therapeutics treatment.
Who are the Key Players in the Leukemia Therapeutics Treatment Market?
Major market players contributing to the global leukemia therapeutics treatment market share include Ambit Biosciences Corporation, Biogen Idec, Inc., Ariad Pharmaceuticals, Inc., Bristol-Myers Squibb, Novartis Pharmaceuticals, Pfizer and others.
The US Food and Drug Administration approved AbbVie’s VENCLEXTA therapy in combination with azacitidine, decitabine, or low-dose cytarabine in October 2020.
The treatment is for acute myeloid leukaemia (AML) in people aged 75 and up, as well as those with comorbidities who are unable to receive aggressive chemotherapy.
Bristol Myers Squibb received FDA approval for Onureg for the continuing treatment of adult patients with AML in September 2020.
Following intense chemo, patients who have achieved their initial full remission or remission with incomplete blood recovery are eligible for this treatment.
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