The global leukemia therapeutics market size is expected to reach USD 27.63 billion by 2030, according to a new study by Polaris Market Research. The report “Leukemia Therapeutics Market Share, Size, Trends, Industry Analysis Report, By Type of Leukemia (Chronic Myeloid, Chronic Lymphocytic, Acute Lymphocytic, Acute Myeloid); By Treatment Type; By Route of Administration; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing incidence of leukemia is driving the global market for leukemia treatment, along with technological advancements and advances in the field of blood cancer diagnostics. For instance, according to GLOBOCAN 2020 figures, there were 474,519 instances of leukemia in the world in 2020, affecting people of all sexes and ages.
A further estimate of 397,501 Americans have leukemia or are in remission, according to statistics from the Leukemia & Lymphoma Society for 2021. The demand for leukemia treatment therapy is also projected to increase over the forecast period as more people become aware of the advantages of preventive healthcare. Government programs that raise cancer awareness are likely to drive the leukemia therapeutics therapy market until 2026.
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R&D and new product launches being carried out by a significant number of firms are projected to fuel the growth of the global market. For instance, Sohag University’s research on “Peripheral Blood Dipeptidylpeptidase IV (CD26) Positive Leukemic Stem Cells in Chronic Myeloid Leukemia as a Diagnostic Marker” will be presented on September 2022. The market’s expansion is aided by such product development initiatives and the accompanying product launches.
Over the coming years, there will likely be a significant increase in chemotherapy. The key driver fueling the growth of the chemotherapy market and rising leukemia therapy treatment demand is the increased prevalence of leukemia cases. For instance, the Food and Drug Administration granted Novartis permission for asciminib in October 2021 to treat chronic myeloid leukemia in two different indications.
Full approval was given to Scemblix for adult patients with Philadelphia chromosome-positive CML in the chronic phase who had accelerated approval for Ph+ CML-CP with the T315I mutation. These approvals are fueling the market segment’s expansion.
Leukemia Therapeutics Market Report Highlights
- Over the forecast period, the chronic myeloid leukemia segment is expected to dominate the market. The increasing incidence rate of CML and the abundance of treatment choices are two factors that are considerably boosting this market’s expansion.
- In 2021, chemotherapy dominated the market throughout the forecast period since it is the first line of treatment for leukemia and results in effective therapeutic outcomes for patients. The expanding number of people with leukemia is the main factor driving the rise of the chemotherapy sector.
- In 2021, the injectable market category held the largest market share. Injectables are the most popular delivery form for a wide range of medications, including chemotherapy and targeted therapy. Additionally, the market for injectable pharmaceutical administration is growing due to rising urbanization and disposable income.
- The majority of the market was controlled by North America. This can be attributed to the high incidence rate and advances in leukemia treatment and growing research in the U.S.
- The global players with global presence include AbbVie, Bristol-Myers Squibb, Novartis, F. Hoffmann-La Roche, Pfizer, Sanofi, and Amgen.
Polaris Market Research has segmented the leukemia therapeutics market report based on type of leukemia, treatment type, route of administration, and region:
Leukemia Therapeutics, Type of Leukemia Outlook (Revenue – USD Billion, 2018 – 2030)
- Chronic Myeloid
- Chronic Lymphocytic
- Acute Lymphocytic
- Acute Myeloid
Leukemia Therapeutics, Treatment Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Targeted Therapy
Leukemia Therapeutics, Route of Administration Outlook (Revenue – USD Billion, 2018 – 2030)
Leukemia Therapeutics, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa