The Global Leukemia Therapeutics Market Size is expected to grow at a decent rate owning to the rising prevalence of leukemia, and continuous research and development for developing novel treatment for leukemia.
Leukemia is the most common type of blood cancer, that is found in the bone marrow. Leukemia is caused when there is issue in the blood cell production that affects the leukocytes or white blood cells. Leukemia is majorly caused in the people over the age of 55 years, and also is the most common type of cancer in those aged under 15 years. Leukemia is segmented into four main groups that are ‘chronic & acute leukemia’, ‘lymphocytic & myelogenous leukemia’, ‘acute lymphocytic leukemia’ (ALL), ‘chronic lymphocytic leukemia’, ‘acute myelogenous leukemia’, and ‘chronic myelogenous leukemia’. Leukemia is identified due to the factors like pale skin, enlarged liver, fever, night sweats, headaches, and feeling fatigued.
Leukemia is caused when the DNA functions immaturely due to damaged white blood cells, and blood cells. These abnormal cells than grow rapidly which in turn inhibits the growth of normal blood cells. Thus, excessive growth of abnormal cells harms or stops the normal functioning of a cell. Similarly, some other factors also cause leukemia that are artificial ionizing radiation, viruses, alkylating chemotherapy, smoking, genetic disorders, and down’s syndrome. The treatment of leukemia depends on the individual factors like age and overall patient’s health. According, to the study of National Cancer Institutes it was estimated the rise in the percent population suffering from leukemia that is 3.7%. Hence, this rise in the number of patients to also influence the market growth during the forecast period.
The global market is primarily driven by the factors such as increasing number of patients suffering from leukemia, and increasing governments efforts for easy drug approvals. Moreover, increasing unmet needs regarding the early diagnosis and treatment of leukemia would also surge this market during the forecast period.
While, increasing number of geriatric population along with the strong presence of R&D facility in North America, and rising number of patients suffering from ALL to propel the growth of this industry in the near future. Also, growing R&D funding and investments towards reducing leukemia by the governments of developing economies, is expected to spur the market in coming years.
However, high cost of treatment, and relatively lengthy approval process for this type of drugs, can hinder the growth of this market in the near future.
The market is segmented on the basis of leukemia type, diagnosis type, treatment type, drug type, end users, and geography.
On the basis of leukemia type, the market is segmented into:
On the basis of diagnosis type, market is segmented into:
On the basis of mode of treatment type, market is segmented into:
On the basis of drug type, market is segmented into:
Geographically, this market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America region is expected to dominate the leukemia therapeutics market over the forecast period. The major factors driving the growth of this market in North America are increasing patient awareness for various technological advancements, and rising R&D expenditure by the biopharmaceutical companies. Additionally, the increased governments initiatives for the promoting research and development for building effective leukemia diagnosis and treatment is expected to boost the therapeutics market in the coming years.
However, Asia Pacific market is estimated to grow rapidly during the forecast period owning to the factors such as, increasing awareness about leukemia, and government initiative for promoting the use of various treatment.