PUBLISHER: Allied Market Research | PRODUCT CODE: 1266323
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266323
The global leukemia therapeutics market valued for $7,818.63 million in 2021 and is estimated to reach $14,162.48 million by 2031, exhibiting a CAGR of 6.1% from 2022 to 2031.
Leukemia is a type of blood cancer that affects the blood and bone marrow. It is characterized by the uncontrolled production of abnormal white blood cells, which can interfere with the normal functioning of the blood and the immune system. There are several types of leukemia, including acute lymphocytic leukemia (ALL), acute myeloid leukemia (AML), chronic lymphocytic leukemia (CLL), and chronic myeloid leukemia (CML). The rare types of leukemia include chronic myelomonocytic leukemia (CMML), and juvenile myelomonocytic leukemia (JMML). Treatment for these rare forms of leukemia may involve a combination of chemotherapy, and others treatment depending on the type and stage of the leukemia and the overall health of the patient. Symptoms of leukemia can include fatigue, weakness, frequent infections, and easy bruising or bleeding.
A number of commercially available drugs have been developed to treat leukemia and are driving the demand for leukemia therapeutics. Some of the most commonly used drugs include Gleevec, Bosulif, Sprycel, Iculsig, and others. These drugs have shown significant efficacy in the treatment of leukemia and have become the standard of care for many patients. In addition, the development of new and improved drugs for the treatment of leukemia drives the demand for leukemia therapeutics.
The leukemia therapeutics market is experiencing growth owing to rise in cases of leukemia and the number of bone marrow biopsies across the world. In addition, the increase in investment in the R&D activities for leukemia and rise in awareness of the targeted therapies among the population further drive the growth of the leukemia therapeutics market. The introduction of new drugs has led to improved survival rates for patients with leukemia, giving them a better chance of beating the disease which further supports the market growth.
In contrast, the stringent regulatory approvals for the leukemia therapeutics and the side effect of the drugs used in the leukemia treatment impedes the growth of the market. For instance, Onureg (azacitidine) causes dizziness, nausea, vomiting, fatigue, anemia, and low platelet count in patients with leukemia. In addition, patent expiry of the drugs used in the treatment of leukemia and the higher costs involved in the therapies limit the growth of the global leukemia therapeutics market. Moreover, the rise in number of clinical trials for leukemia and new product approvals are anticipated to create newer opportunities in the emerging as well as the developed markets. For instance, in December 2020, Amgen announced the U.S. Food and Drug Administration (FDA) has approved RIABNI (rituximab-arrx), a biosimilar to Rituxan (rituximab), for the treatment of adult patients with chronic lymphocytic leukemia (CLL).
The global leukemia therapeutics market is segmented into type, drug class, distribution channel, and region. By type, the market is categorized into acute lymphocytic leukemia, acute myeloid leukemia, chronic lymphocytic leukemia, chronic myeloid leukemia, and others. On the basis of drug class, the market is segregated into chemotherapy, and targeted & immunotherapy. By distribution channel, the market is classified into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global leukemia therapeutics market are: AbbVie Inc. Amgen Inc., Bristol-Myers Squibb Company, Gilead Sciences, Inc., Lupin, Novartis AG, Pfizer Inc., Sanofi, Takeda Pharmaceutical Company Limited, and Teva Pharmaceutical Industries Limited.