Acute Myeloid Leukemia Market Outlook 2031:
The acute myeloid leukemia market size was valued at USD 1.51 Billion in 2022 and is projected to reach USD 3.60 Billion by 2031, expanding at a CAGR of 10.15% during the forecast period 2023 - 2031. The growth of the market is attributed to high incidence of acute myeloid leukemia and relapses across the globe. Moreover, advancements in pharmacology and molecular biology to promote drug development is driving the market growth.
Acute myeloid leukemia (AML), also known as acute myelogenous leukemia or acute non-lymphocytic leukemia, is a type of leukemia that affects the white blood cells. Acute myeloid leukemia is characterized by the rapid production of abnormal white blood cells, which accumulate in the bone marrow and disrupt the production of normal blood cells.
Increasing cases of AML is attributed to factors such as genetic mutations, unhealthy lifestyle, and continues exposure to hazardous chemicals such as benzene. Current drug therapies for AML are predicted, resulting in a demand for effective therapies, which is propelling the market growth. Some of the limitations of drugs available in the market includes their inability to control relapse cases and adverse side effects such as nausea, loss of appetite, and tissue damage.
The introduction of medicines such as farnesyltransferase inhibitors, immunotoxins, alkylating drugs, monoclonal antibodies, FMS-like tyrosine kinase 3 inhibitors, and multidrug-resistant modulators are fueling the market growth.
Acute Myeloid Leukemia Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for advanced therapeutics in the cancer treatment is a major driving force in the market.
- Increasing R&D investments by pharmaceutical companies is expected to fuel the growth of the market.
- The lack of efficacy of the medicine can restrain the market growth.
- Technology-assisted drug development is anticipated to positively influence the market growth.
Scope of Acute Myeloid Leukemia Market Report
The report on the acute myeloid leukemia market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Acute Myeloid Leukemia Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Chemotherapy (Cytarabine and Anthracycline Drugs [Daunomycin, Idarubicin, and Mitoxantrone], Alkylating Agents, Anti-metabolites, and Tyrosine Kinase Inhibitors [Dasatinib (Sprycel) and Imatinib (Gleevec)], and Hormonal Therapy and Other Chemotherapies)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Novartis AG, Teva Pharmaceuticals, Pfizer, Bristol Myer Squibb, and Sanofi-Aventis (Genzyme Corporation)
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Acute Myeloid Leukemia Market Segment Insights:
Cytarabine and anthracycline drugs segment to account a significant market share
Based on types, the acute myeloid leukemia market is segregated into cytarabine and anthracycline drugs, alkylating agents, anti-metabolites, and tyrosine kinase inhibitors, and hormonal therapy and other chemotherapies. The cytarabine and anthracycline drugs segment is sub-segmented into daunomycin, idarubicin, and mitoxantrone.
This segment is estimated to hold a major market share and is anticipated to expand at a CAGR of 14% during the forecast period. Cytarabine (cytosine arabinoside (ara-C)) is a chemotherapy drug used to treat AML, acute lymphocytic leukemia (ALL), and chronic myelogenous leukemia (CML), and Non-Hodgkin lymphoma.
Anthracyclines are a class of drugs derived from the Streptomyces bacterium that are used in cancer chemotherapy. These compounds are used to treat a variety of cancers, including leukemia, lymphomas, breast cancer, stomach cancer, uterine cancer, ovarian cancer, bladder cancer, and lung cancer.
North America is projected to hold a major market share
In terms of regions, the acute myeloid leukemia market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market and is expected to expand at a rapid pace in the projected timeline. The presence of the prominent healthcare system in the US and Canada is driving the market growth in the region.
On the other hand, the market in Asia Pacific to exhibit a high CAGR during the forecast period. Rising investments, increasing disposable income, growing cancer awareness, and improved healthcare infrastructure are driving the regional market growth. Furthermore, increasing preference for therapies such as targeted therapies, which result in less collateral damage and higher efficacy, is expected to drive demand for the market in this region.
Segments
The acute myeloid leukemia market is segmented on the basis of
Types
- Cytarabine and Anthracycline Drugs
- Daunomycin
- Idarubicin
- Mitoxantrone
- Alkylating Agents, Anti-metabolites, and Tyrosine Kinase Inhibitors
- Dasatinib (Sprycel)
- Imatinib (Gleevec)
- Hormonal Therapy and Other Chemotherapies
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
The major players in the acute myeloid leukemia market include Novartis AG, Teva Pharmaceuticals, Pfizer, Bristol Myer Squibb, and Sanofi-Aventis (Genzyme Corporation).
Companies are engaging in mergers, acquisitions, and partnerships to expand their market share. In order to gain a larger market share, these companies conduct extensive clinical trials, invest heavily in R&D, and target specific geographic areas.
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