Leukemia Therapeutics Market Share, Trend | Report 2031

Report Description

Global Leukemia Therapeutics Market Outlook 2031:

The global leukemia therapeutics market  size was valued at USD 14.99 Billion in 2022 and is projected to reach USD 27.10 Billion by 2031, expanding at a CAGR of 6.8% during the forecast period 2023 - 2031. The growth of the market is attributed to the high number of leukemia cases across the world, increasing awareness of the disease, and available of advanced treatment methods.

Leukemia refers to a type of blood cancer which occurs because of the mutation in the genes, which are responsible for the white blood cell (WBCs) development. The change in the WBC structure due to the mutation leads to development of abnormal WBCs in bone marrow and results in leukemia.

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Some of the common risk factors responsible for the leukemia are blood disorders, smoking, history of leukemia in family, radiation exposure or exposure to chemicals, and genetic disorders (Down syndrome). The leukemia can occur to any age group person from child to old age.

As per the American Cancer Society, nearly 61,780 people were diagnosed with leukemia in US in 2019. Out of which approximately 21,450 cases were recorded of acute myeloid leukemia (AML). As pert the statistics published by the World Health Organization (WHO), leukemia is the highly prevalent type of blood cancer in males with about 0.0148% men and 0.009% women globally.

The COVID-19 pandemic has impacted the market in both positive and negative manner. As the outbreak of COVID-19 resulted into lockdowns and travel restrictions caused healthcare to face imbalance in demand and supply of products. The restriction impacted the supply chain of the non-COVID hospitals while the outbreak caused high revenue of COVID-19 related hospitals and products.

Leukemia Therapeutics Market Trends, Drivers, Restraints, and Opportunities

• Rising number of biotechnology organizations, novelty in drug discovery, and inclining funding on the R&D activities are boosting the leukemia therapeutics market growth in the coming future.
• Introduction of innovative therapies with high efficiency, reduced side effects, and strong pipeline of products are propelling the market growth at considerable pace.
• Rising awareness among a large number of the global population about the technological advancements in therapies and advantages such as safety & efficacy, tolerability, are fueling the leukemia therapeutics  market expansion during the forecast period.
• Side effects and adverse effects of the treatment are major restraining factors that can hinder the leukemia therapeutics market growth in the coming future.
• High prevalence of the disease and government initiatives for reimbursement policies are offering huge opportunities for the leukemia therapeutics market growth in the coming years.

Scope of Leukemia Therapeutics Market Report

The report on the global leukemia therapeutics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Leukemia Therapeutics Market Segment Insights

Chronic myeloid segment is expected to grow at a rapid pace

Based on disease conditions, the global leukemia therapeutics market is divided into chronic myeloid leukemia, acute lymphatic leukemia, chronic lymphatic leukemia, and acute myeloid leukemia. The chronic myeloid segment is expected to grow at a rapid pace during the projected period owing to great prevalence, fast uptake of tyrosine kinase inhibitors, and increased drug rates. Moreover, the high awareness and R&D activities on the disease are driving the market segment growth during the forecast period.

CT scan segment is projected to expand at a considerable CAGR

On the basis of diagnosis, the market is segregated into CT scan, biopsy, and MRI. The CT scan segment is projected to expand at a considerable CAGR during the forecast period. This is attributed to the factors of high demand of the CT scan as well as highly effective and quick results. The COVID-19 outbreak also boosted the CT scan segment as the demand for CT scan was tremendously increased during the pandemic.

The Biopsy segment, however, is projected to register a substantial growth rate in the coming years as it is a new technique and produce perfect results.  Physicians are also recommending the diagnostics test for cancer detection.

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Chemotherapy segment is anticipated to propel at a significant growth rate

Based on treatments, the global leukemia therapeutics market is classified into chemotherapy, radiation therapy, immunotherapy, surgery, targeted therapy, bone marrow transplant, and stem cell therapy.

The chemotherapy segment is anticipated to propel at a significant growth rate owing to the wide acceptance of the treatment by the most number of countries around the world. The treatment is effective and is the choice of treatment for the cancer patient.

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The bone marrow transplant and stem cell therapy are the two fast-growing segments and are anticipated to account for a considerable market share during the projected period owing to the high effectiveness of these therapies. This treatment technique is often used as a last option for the patient when other treatments fail to show any improvement.

Gleevec segment is estimated to grow at a substantial rate

Based on drugs, the market is divided into Bosutinib, Gleevec, Sapacitabine, Vidaza, GA101, Vasaroxine, Revlimid, Graspa, Marqibo, Tosedosat, Dacogen, and Omapro. The Gleevec segment is estimated to grow at a substantial rate in the coming years as the drug shows less side-effects as well as produces good results. Moreover, the drugs are widely recommended by majority of the physicians.

North America is anticipated to constitute a key market share

In terms of regions, the global leukemia therapeutics market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period owing to the technological advancement, rising patient awareness, favorable government programs, and investments in the region.

Furthermore, the availability of well-developed healthcare facilities in the region present another key driver of the market development in the region. The market of Europe, however, is expected to hold a large market share during the projected period as the region is witnessing high number of new product development such as Arragon, Sprycel, Tasigna, and Clolar.

The Asia Pacific market, on the other hand, is expected to register a high CAGR during the forecast period as the region has high number of the targeted patients. Additionally, rising government interest for disease control and treatment along with great investments from major market players is boosting the market of the region.

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