Increased prevalence of cancer especially blood cancer across the world leading to rising demand for effective treatments is the driving market growth. Rise in expenditure on development of novel treatment and developing health infrastructure is further fueling the market growth. Additionally, the rise in survival rate and minimum side effects of novel treatment such as stem cell therapy, bone marrow transplant has open new avenues for the market growth. Furthermore, increasingly exposed to chemical mutation, changing dietary habits and living style of the population is further pushing the market growth.
The latest report by Value Market Research expects the Global Leukemia Therapeutics Market accounted for USD 10 billion and is expected to reach USD 12.5 billion at CAGR of 4% from the year 2017 to 2024.
ACUTE LEUKEMIA EMERGED AS THE LEADING THE SEGMENT
In 2017, acute leukemia is dominating the segment and has accounted for maximum market share. Owing to the growing condition of cancerous cells, acute leukemia is driving the segment growth. Rising smoking habits, exposure to chemicals, radiations and cases with other blood-related disorders are again fueling the segment growth.
CHEMOTHERAPY DOMINATED THE SEGMENT
By therapy, chemotherapy led the segment in 2017. Owing to an ability to kill cancerous cells or inhibiting its proliferation and maintain a normal level of lymphocytes of chemotherapy, it is driving the market growth. Also, the increased survival rate of the patients treated with chemotherapy is again fueling its demand.
NORTH AMERICA LED THE REGIONAL MARKET
Regionally, North America dominated the market by accounting major market share in 2017. Rise in the number of patients with cancer, growing genetic mutation, and increased expenditure has increased demand for effective treatment. This has driven the market growth from the last few years. Established healthcare infrastructure leading to the availability of advanced therapeutics has also contributed significantly to regional market growth.
KEY PLAYERS OF THE MARKET
AbbVie Inc., Amgen, ARIAD Pharmaceuticals, Inc., Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd., Genzyme Corporation, GlaxoSmithKline plc., Novartis International AG., Pfizer, and Teva Pharmaceuticals. Companies are tending towards mergers and acquisition for development of novel therapeutics. For instance, TapImmune and Marker Therapeutics Announce Entry into Merger Agreement, Creating a Transformational Immuno-Oncology Platform.
As per this study the Global Leukemia Therapeutics Market was valued USD 23.72 BN (by revenue) in 2021 and is anticipated to reach USD 44.2 BN by 2028 with a CAGR of 9.3%.
Leukemia is a type of cancer that mainly developed into blood tissues and occur in bone marrow. It developed gradually and leads to the uncontrolled growth of the blood cells. Leukemia is also termed as a cancer of white blood cells but also affect red blood cells and platelets. Fever, weight loss, night sweats, enlarged liver, frequent infections, and swollen lymph nodes are some of the common symptoms of leukemia. Leukemia therapeutic includes radiation, chemotherapy, and stem cell transplantation.
Market Dynamics
Rising cases of cancer worldwide along with the innovation in drug discovery and increasing investment in R&D sector is expected to fuel the industry expansion. Further, ongoing research in molecular diagnosis and rising government investment in the healthcare sector is another major factor serving as a key driver for the market. Also, stem cells and bone marrow transplant are the emerging trends observed in the leukemia therapeutic market and projected to propel the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of leukemia therapeutics.
Market Segmentation
The broad leukemia therapeutics market has been sub-grouped into therapy and type. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Therapy
- Chemotherapy
- Biological Therapy
- Radiation therapy
- Targeted therapy
- Other
By Type
- Chronic leukemia
- Chronic lymphatic leukemia
- Chronic myeloid leukemia
- Acute leukemia
- Acute lymphatic leukemia
- Acute myeloid leukemia
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for leukemia therapeutics in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Leukemia Therapeutics Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the leukemia therapeutics market includes AbbVie Inc., Amgen, ARIAD Pharmaceuticals, Inc., Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd., Genzyme Corporation, GlaxoSmithKline plc., Novartis International AG., Pfizer, and Teva Pharmaceuticals. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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