Global leukemia therapeutics market 2020 is anticipated is projected to grow at a CAGR of 5.3% over the forecast period.
The factors such as innovative therapies to drive the market for leukaemia, increase prevalence of leukaemia, and rising older population are expected to propel the growth of the market. Due to their curative nature, there is an increase in advances in the research of regenerative therapies. As they effectively treat leukaemia and lymphoma, multiple targeted therapies such as CAR T-cell therapies have been approved and are gaining traction. For other cancer indications, these therapies are also in the final stages of clinical trials. In the early stages of clinical trials for CAR T-cell therapies and gene therapies, the presence of vendors with novel therapies is also increasing. Market growth is poised to be driven by the availability of innovative leukaemia therapies, an increasing number of cases of leukaemia, a strong development pipeline and targeted drug delivery, and a growing elderly population.
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In the last decade, there has been a huge growth in cell-based research activities. The development of this market has also resulted in expanded research in the area of regenerative medicine for the treatment of leukaemia and an increasing knowledge of personalised medicine. In addition, the high prevalence and occurrence of leukaemia and the growing geriatric population are driving the development of this industry. The development of the demand for leukaemia therapeutics was motivated by an increase in the number of cases of leukaemia therapeutics, which further provided space for the launch of new therapies and rich, exciting pipeline drugs. In addition, the various care environment and family history of leukaemia therapeutics are known to be a favourable predictor of new drug demand. By multiple patent expiration coupled with high treatment costs, the demand for leukaemia therapeutics market is largely hindered.
The worldwide demand for leukaemia therapeutics has been segmented into forms, uses and regions.
The demand for leukaemia treatment is categorised into chemotherapy, biological therapy, targeted therapy, radiation therapy, and stem cell transplantation depending on gender. It is estimated that the chemotherapy group will account for the largest market share segment.
The demand for leukaemia therapeutics is classified into acute lymphocytic leukaemia, acute myelogenous leukaemia, chronic lymphocytic leukaemia, chronic myelogenous leukaemia, among other uses.
The leukemia therapeutics market segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Geographically, the Americas is anticipated to lead the global leukaemia therapeutics market owing to a well-established player, creative treatments to drive the market for leukaemia, increase prevalence of leukaemia, and rising older population. Leading to the rise in leukaemia cases and the vast range of treatment options, North America has the major market share for leukaemia therapeutics in the coming years, followed by Europe. Different steps are being taken by the Canadian Government to promote leukaemia studies and develop new immunotherapies.
In the global demand for leukaemia therapeutics, Europe is projected to occupy the second largest role. The rise of the demand in this area is due to a rise in the incidence of leukaemia.
Asia-Pacific is projected to be the fastest growing market for leukaemia therapeutics due to the availability of novel leukaemia treatments and the growing number of leukaemia cases. Furthermore, in emerging economies of Asia Pacific such as China and India, the leukemia therapeutics market is expected to grow at significant rate due high unmet medical needs. Rising strategic partnership and acquisition by the market players is expected to bolster the market growth.
The Middle East & Africa has the least share of the leukemia therapeutics market.
Some of the eminent players in the global leukemia therapeutics market are Pfizer Inc. (US), Eisai Co., Ltd (Japan), Novartis AG (Switzerland), GlaxoSmithKline plc (UK), Bristol-Myers Squibb Company (US), F. Hoffmann-La Roche AG (Switzerland), Teva Pharmaceutical Industries Ltd (Israel), Sanofi S.A. (France), Amgen Inc (US), and Takeda Pharmaceutical Company Ltd (Japan).
In order to retain their strategic edge and enter new regional markets, several firms often concentrate on producing innovative drugs for the treatment of leukaemia. For certain patients with Leukemia, chemotherapy is therefore thought to be the only care choice. In addition, expanded support for organisations interested in leukemia-related research is projected to improve the industry under review.
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