PUBLISHER: The Business Research Company | PRODUCT CODE: 1427749
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427749
Chronic myeloid leukemia (CML) treatment involves addressing the uncontrolled growth of abnormal white blood cells in the blood and bone marrow. These cells, known as myeloid cells, play a crucial role in fighting infections and maintaining the immune system.
The primary types of CML treatment include targeted therapy, chemotherapy, radiation therapy, splenectomy, and stem cell transplant. Targeted therapy is a cancer treatment approach that employs drugs to specifically target genes and proteins supporting the growth and survival of cancer cells. In the context of CML treatment, targeted therapy aims to identify and eliminate specific cancer cell types while minimizing damage to healthy cells. Various drugs, including tyrosine kinase inhibitors, antimetabolites, and others, are utilized in hospitals, clinics, and other healthcare settings for CML treatment. These medications are accessible through hospital pharmacies, retail pharmacies, and online pharmacy platforms.
The chronic myeloid leukemia (CML) treatment market research report is one of a series of new reports from The Business Research Company that provides chronic myeloid leukemia (CML) treatment market statistics, including the chronic myeloid leukemia (CML) treatment industry's global market size, regional shares, competitors with a chronic myeloid leukemia (CML) treatment market share, detailed chronic myeloid leukemia (CML) treatment market segments, market trends, and opportunities, and any further data you may need to thrive in the chronic myeloid leukemia (CML) treatment industry. This chronic myeloid leukemia (CML) treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The chronic myeloid leukemia (cml) treatment market size has grown strongly in recent years. It will grow from $7.73 billion in 2023 to $8.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be attributed to several factors, including heightened awareness and early detection practices, positive outcomes from clinical trials, advancements in the development of targeted therapies, the presence of patient advocacy and support groups, and the ongoing development of healthcare infrastructure. These elements collectively contributed to the progress and improvement in the landscape of chronic myeloid leukemia (CML) treatment during the historic period.
The chronic myeloid leukemia (cml) treatment market size is expected to see strong growth in the next few years. It will grow to $10.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be attributed to the adoption of personalized medicine approaches, the development of combination therapies, improved patient access to novel treatments, government policies supporting orphan drugs, and the overall increase in healthcare expenditure. Key trends in the forecast period include global collaboration in research efforts, the widespread adoption of telemedicine and remote monitoring, advancements in next-generation tyrosine kinase inhibitors (TKIs), and the implementation of treatment optimization strategies. These trends collectively contribute to the evolving landscape of chronic myeloid leukemia (CML) treatment.
The projected rise in the incidence and prevalence of chronic myeloid leukemia (CML) is anticipated to be a significant driver of growth in the chronic myeloid leukemia (CML) treatment market. This type of leukemia, also known as chronic myelogenous leukemia, profoundly impacts the bone marrow and blood by causing an excessive production of immature myeloid cells. Treatment for chronic myeloid leukemia is crucial in slowing down its progression and preventing its advancement to more severe stages. For instance, based on data from the American Society of Clinical Oncology in March 2023, the United States expects a substantial number of individuals, around 35,730, to be diagnosed with multiple myeloma. Furthermore, approximately 12,590 deaths due to this disease are anticipated in 2023. These statistics underscore the pressing need for effective treatments, thereby driving the growth of the chronic myeloid leukemia (CML) treatment market.
The advent of personalized medicine has significantly contributed to the expansion of the chronic myeloid leukemia (CML) treatment market. Personalized medicine involves tailoring treatment plans and decision-making processes for patients based on a comprehensive understanding of their genetic makeup. In the context of CML, this approach enables the identification of specific molecular targets, notably the BCR-ABL fusion gene, allowing for a precise comprehension of the genetic irregularities driving the disease in individual patients. This understanding paves the way for early interventions and the implementation of personalized preventive measures. For example, the Swedish Government's investment of SEK 220 million ($21.15 million) in the Genomic Medicine Sweden (GMS) national infrastructure is aimed at integrating precision medicine into the country's healthcare system. Additionally, the rising demand for personalized medicines, as highlighted by the Personalized Medicine Coalition (PMC), indicates that these medicines could constitute 34% of new drug approvals by the US Food and Drug Administration in 2022, further supporting the anticipated growth of the chronic myeloid leukemia (CML) treatment market.
Product innovation stands as a pivotal trend shaping the landscape of the chronic myeloid leukemia (CML) treatment market. Companies engaged in this sector are actively embracing novel technologies to fortify their market presence. For instance, Novartis, a Switzerland-based pharmaceutical giant, achieved FDA approval for Scemblix (asciminib) in October 2021, marking a significant milestone as the first FDA-approved treatment for chronic myeloid leukemia. Scemblix operates by binding to the ABL myristoyl pocket, catering to patients facing resistance or intolerance to existing TKI therapies. Impressively, Scemblix demonstrated superior performance compared to Bosulif (bosutinib) over 24 weeks, boasting a higher major molecular response (MMR) rate at 25% versus 13% and significantly lower discontinuation rates due to adverse effects at 7% versus 25%.
Strategic partnerships and collaborations are key focal points for companies aiming to broaden their product spectrum and geographical footprint. For instance, Xspray Pharma, a Sweden-based biotechnology company, forged a partnership with EVERSANA, a US-based life sciences entity, in February 2023. This collaboration aims to support the US launch and commercialization of Dasynoc (XS004), a promising treatment for chronic myeloid leukemia (CML) and acute lymphatic leukemia (ALL). Though pending FDA approval and contingent upon legal conditions, Dasynoc signifies a novel treatment option anticipated to penetrate the lucrative $3.5 billion Tyrosine Kinase Inhibitors market in the United States. Leveraging EVERSANA's specialized commercialization team entrenched in the oncology market, Xspray aims for a tailored and effective approach to introduce Dasynoc, with a projected launch slated for the latter half of 2023. This strategic move holds the promise of significantly enhancing treatment options for CML and ALL patients within the US market.
In August 2022, the US-based multinational pharmaceutical company Bristol Myers Squibb successfully acquired Turning Point Therapeutics for $4.1 billion. This strategic acquisition provides Bristol Myers Squibb with access to Turning Point Therapeutics' pipeline of experimental drugs, notably repotrectinib, designed to target prevalent mutations associated with oncogenesis. Turning Point Therapeutics, based in the US, specializes in the development of precision medicines for cancer and other diseases, including tyrosine kinase inhibitors used in the treatment of chronic myeloid leukemia (CML).
Major companies operating in the chronic myeloid leukemia (cml) treatment market report are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca plc, Takeda Pharmaceutical Company Limited, Amgen Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Eisai Co. Ltd., Fresenius Kabi AG, Sun Pharmaceutical Industries Ltd., Hospira Inc., Otsuka Pharmaceutical Co. Ltd., Incyte Corporation, Cipla Limited, Dr. Reddy's Laboratories Ltd., Amneal Pharmaceuticals LLC, Lupin Limited, Innovent Biologics Inc., Glenmark Pharmaceuticals Limited, Il-Yang Pharmaceutical Co. Ltd., Accord Healthcare Inc., ARIAD Pharmaceuticals Inc., Stragen Pharma SA, Orca Bio, Bio-Path Holdings Inc.
North America was the largest region in the chronic myeloid leukemia (CML) treatment market in 2023. The regions covered in the chronic myeloid leukemia (cml) treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the chronic myeloid leukemia (cml) treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The chronic myeloid leukemia (CML) treatment market includes revenues earned by entities by providing targeted therapy with tyrosine kinase inhibitors (TKIs). The chronic myeloid leukemia market includes Imatinib, Dasatinib, Nilotinib, Bosutinib, Ponatinib, and Asciminib. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Chronic Myeloid Leukemia (CML) Treatment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chronic myeloid leukemia (cml) treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chronic myeloid leukemia (cml) treatment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The chronic myeloid leukemia (cml) treatment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
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