CHICAGO, May 27, 2019 /PRNewswire/ -- According to the new market research report "Leukemia Therapeutics Market by Type (CLL, ALL, CML, AML), Treatment Type (Chemotherapy & Targeted Drugs by (CLL, ALL, CML, AML)), Mode of Administration (Oral, Injectable), Molecule Type (Small Molecules, Biologics), Gender, and Region - Global Forecast to 2024", published by MarketsandMarkets™, is expected to reach USD 17.1 billion by 2024 from USD 12.3 billion in 2019, at a CAGR of 6.8%.
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Growth in this market is largely driven by the growing geriatric population and the introduction of innovative therapies for the treatment of leukemia. However, complexities in manufacturing serve as a key restraint to market growth.
Chronic myeloid leukemia segment dominated the Leukemia Therapeutics Market in 2018.
The chronic myeloid leukemia segment is anticipated to account for the largest market share. The high incidence rate of chronic myeloid leukemia and the large number of treatment options available are the major factors driving the growth of this market segment. In the US, nearly 15% of the newly diagnosed cases of leukemia are CML. Nearly 1 person in 526 is diagnosed with CML in the US.
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Small molecules hold the largest share of the Leukemia Therapeutics Market, by molecule type.
In 2018, the small molecules segment accounted for the largest market share. This is mainly attributed to the availability of a large number of chemo and targeted drugs—which are small molecules. A large number of small-molecule drugs have also been approved, which is expected to drive the market growth.
North America holds the largest share of the Leukemia Therapeutics Market, by region.
The North American market is expected to account for the largest share, globally. The rising number of leukemia patients, tissue engineering, new drugs & therapies launches, and high research funding for the treatment of leukemia are the major driving factors in this market. In 2018, according to the Leukemia & Lymphoma Society, an estimated 381,774 people were living with or in remission from leukemia in the US. According to the Canadian Cancer Society, nearly 138,100 people in Canada are living with or are in remission from blood cancer (data as of 2016). In addition, nearly 22,340 Canadians of all ages were diagnosed with a form of blood cancer, including 5,900 cases of leukemia.
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The major players in this market are Sanofi (France), AbbVie (US), Bristol-Myers Squibb (US), Novartis (Switzerland), F. Hoffmann-La Roche (Switzerland), Pfizer (US), Amgen (US), Takeda Pharmaceutical (Japan), Gilead Sciences (US), and Celgene (US). Product launches and acquisitions are the key growth strategies adopted by most players in this market.
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