New York, Oct. 10, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Market.us, the Global Leukemia Therapeutics Market size is expected to be worth around USD 33.7 Billion by 2032 from USD 16.2 Billion in 2022, growing at a CAGR of 7.8 % during the forecast period from 2023 to 2032.
Leukemia is a type of blood malignant growth due to the transformation in the qualities capable of developing WBCs. The transformed qualities lead to the growth of unusual white blood cells in the bone marrow that causes leukemia. Other risk factors that might cause leukemia are smoking, family background of blood disorders, leukemia, exposure to synthetics or radiation, and hereditary issues.
Chemotherapy and designated treatment are two of the most popular options for leukemia because chemo drugs travel throughout the body to reach cancerous growth cells. It makes chemotherapy useful for treating leukemia, especially acute lymphocytic leukemia (ALL). Targeted therapy drugs directly attack cancer cells by stopping them from growing in the body and improving the patient's treatment.
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Key Takeaway:
- By Type of Leukemia, the chronic lymphocytic leukemia segment generated a revenue share of 34.6% in 2022.
- By Treatment, the chemotherapy segment has maintained a stronghold the market, expected to reach a CAGR of 42% over the forecast period 2023 to 2032.
- By Route of Administration, the injectable segment accounted for the largest market.
- By End Users, the hospital segment will account for the highest revenue during the forecast period.
- By Distribution Channel, the hospital pharmacy segment is expected to account for the highest share.
- In 2022, North America remained the largest contributor, with a revenue share of 37.7%.
- Europe held the second-largest position in 2022.
- Asia-Pacific will grow at the fastest CAGR from 2023-2032.
Factors affecting the growth of the leukemia therapeutics market
There are several factors that can affect the growth of the leukemia therapeutics market. Some of these factors include:
- Rise in Prevalence of Leukemia: The increasing prevalence of leukemia globally boosts the growth of the market.
- Upsurge in Leukemia Awareness: Increasing awareness about leukemia among people will likely enhance the market growth. This will facilitate early detection and treatment of leukemia, thus driving the market.
- Increasing Investment in Healthcare Sector: Investments by the government and various organizations will likely propel the market.
- New-Immune-based Therapies: Implementing various therapies in the market boosts the market's growth.
- Development of novel treatments: Emergence in the novel treatment in the market will likely anticipate market growth.
Top Trends in the Global Leukemia Therapeutics Market
Various research activities are being carried out to develop various treatment strategies that employ combinations of various therapies to improve patient outcomes for various types of leukemia. Combining anthracycline and cytarabine drugs with chemotherapy is the new methodology being executed to improve patient results. Companies are advancing immune therapies for this disease because many patients are resistant to certain chemotherapy drugs, even though chemotherapy is considered the first line of treatment. New immune-based treatments like immune checkpoint blockers (ICBs), bi-specific T cell engagers (BiTEs), and CAR T cells are used to treat chemoresistant B cell forms of AML and BALL. Stem cell therapies and bone marrow transplants are estimated to drive the growth of the market.
AML-based natural killer cell immunotherapy is another treatment option for unmet clinical needs. Additionally, the DZNE and University of Bonn research teams have developed a high-reliability artificial intelligence tool for tracking and detecting acute myeloid leukemia. The advancement of advanced leukemia treatments and diagnostics is anticipated to expand market expansion.
Market Growth
The growth in the leukemia therapeutics market is due to a rising incidence of the disease and increased awareness about the therapeutics. Leukemia affects a large portion of the world's population. According to GLOBOCAN 2020 statistics, there were 475,000 cases of leukemia in both men and women in 2020. These cases are expected to increase to 692,000 worldwide by 2040. According to the Leukemia & Lymphoma Society's 2021 statistics, 397,501 Americans were either in remission or living with leukemia. The overall statistics indicate that leukemia is prevalent in America. This will increase the market's growth over the forecast period.
Regional Analysis
North America was resopionsible for the highest revenue share, around 37.7%. The dominance of North America in the global market is due to cases from all over the continent. The American Cancer Society predicts that a majority of Americans will suffer from CML, which will inevitably encourage market growth in the region.
The European market is expected to be the second largest. This can be accredited to rising leukemia incidence and the increasingly popular cutting-edge treatments. Alternatively, APAC is anticipated to be the fastest-growing region over the forecast period. This can be attributed to the substantial patient population and increasing product launches in developing economies such as India and China. Increasing reimbursements for cancer treatments also assist in market expansion in APAC.
Other regional markets include Latin America along with the Middle East & Africa. Despite their smaller market share, they are expected to expand at a considerable rate during the forecast period owing to rising healthcare costs and increased awareness of leukemia treatment.
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Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | USD 16.2 Billion |
| Market Size in 2032 | USD 33.7 Billion |
| CAGR (2023 to 2032) | 7.8% |
| North America Revenue Share | 37.7% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The increasing incidence of leukemia around the world is one of the primary driving forces in the global market since it is predicted to elicit enhanced demand for leukemia treatment. Globally, almost all types of leukemia, including ALL and CML, are experiencing a rise in incidence. According to an article by the American Cancer Society, there have been an estimated 59610 cases of leukemia, with the diseases claiming 23710 fatalities. An upsurge in the global leukemia incidence is predicted to spur market expansion.
Market Restraints
Despite their advantages, leukemia treatment products' associated adverse reactions and side effects are likely to limit their global expansion. For instance, chemotherapy can have several negative effects, such as hair loss, problems with the skin, high BP, infections, fatigue, and other symptoms.
Market Opportunities
Due to the rising prevalence of cancer diseases worldwide, leukemia therapeutics use has recently increased. The global market for leukemia therapeutics is expected to expand in response to several key factors, including a rising aging population, lifestyle changes, and increased healthcare awareness.
The global leukemia therapeutics market is also fueled by novel and targeted drug delivery. Several major factors, including the abundance of generic drug forms, the high unmet need for diagnosis, and the scarcity of treatment options, are holding back the global leukemia therapeutics market.
The global market for leukemia therapeutics would benefit from off-label prescribing. Additionally, a small number of market players would support the entry of new market players. The global market for leukemia therapeutics could expand in response to new and safer treatments.
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Report Segmentation of the Leukemia Therapeutics Market
Product Type Insight
The market was segmented into CLL, CML, AML, ALL, and others. With 34.6% of the market, the chronic lymphocytic leukemia (CLL) segment held the majority of the share. CLL dominates the market which can be accredited to its extensive patient base and increasing demand for its treatment. The acute myeloid leukemia market is the second largest segment, with a considerable population base in the United States and Europe. After AML, the CML market segment is the third largest while the ALL segment has the lowest market share.
Treatment Insight
It is predicted that the chemotherapy segment will likely lead the market during the upcoming forecast period. The projected market share amounts to 42%. Chemotherapy is the primary treatment for leukemia with consistently promising the patients. The increasing number of launches for novel chemotherapy treatments is also driving the market growth. One such example is the oral chemotherapy drug Onureg, which recently received the U.S. Food and Drug Administration (FDA) approval. Targeted therapy has achieved the fastest growth rate because of its potency and favourable patient outcomes.
Route of Administration Insight
The market for leukemia therapeutics was divided into oral and injectable segments. The injectable market segment held the highest market share. It was the most commonly used mode of administration due to the availability of many drugs in injectable forms, such as targeted therapy and chemotherapy. Injectable medications are increasingly preferred due to their rapid absorption and ease of absorption by the body. The oral route of administration is expected to be the second largest segment over the forecast period due to its ease of use and safety. Pain is avoided with this method of administration.
End User Insight
The leukemia therapeutics market is segmented into Hospitals, Home Care, Specialized Clinics and Others. The Hospitals segment generated the most revenue, with a significant market share. This can be credited to the heightened accessibility of cancer treatments, increasing number of hopsitals, and patient preference. Alternatively, the specialised clinics segment is expected to expand at a considerable rate during the forecast period.
Distribution Channel Insight
The market can be divided into 3 segments, namely retail, hospital, and other pharmacies. The hospital pharmacy industry is anticipated to control most of the global market during the forecast period. Hospitals are the ones credited for provision of the bulk of the treatmet for leukemia. Thus, hospital pharmacies have experienced a marked growth.
Recent Development of the Leukemia Therapeutics Market
- In June 2023, the Medicines Patient Pool (MPP) signed an agreement with four pharma companies with the intention to create generic versions of Tasigna. Nilotinib, also known as Tasigna, is a novel treatment for Chronic Myeloid Leukemia (CML) by Novartis. This agreement aims to deliver cancer treatment to less developed regions.
- In August 2023, the pharmaceutical giant Pfizer gained FDA approval for Elrexfio, an antibody therapy that assists the immune system in targeting malignant cancerous cells. Such a therapy will prove to be instrumental in the treatment of multiple mylenoma patients.
Market Segmentation
By Type of Leukemia
- Chronic Lymphocytic Leukemia
- Acute Myeloid Leukemia
- Acute Lymphocytic Leukemia
- Chronic Myeloid Leukemia
- Other Types of Leukemia
By Treatment
- Chemotherapy
- Targeted Therapy
- Immunotherapy
- Other Treatments
By Route of Administration
- Oral Mode
- Injectable Mode
By End User
- Hospitals
- Home Care
- Specialized Clinics
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Other Distribution Channels
By Geography
North America
- US
- Canada
Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View a PDF sample report @ https://market.us/report/leukemia-therapeutics-market/request-sample/
Competitive Landscape
The competitive landscape of the market has also been examined in this report. The presence and monopoly of a few key businesses characterize the competitive landscape of the leukemia therapeutics market. Novartis AG and Bristol-Myers Squibb Company were among the highest contributors and held a hefty global market revenue. The dominance of these market leaders is due to their extensive product portfolio rife with assorted product categories. An example of this would be Tasigna, Novartis AG's well-known treatment for CML, which has helped the business gain a stronghold over the leukemia therapeutics market.
Market Key Players:
- Pfizer Inc.
- Novartis AG
- Amgen Inc.
- AbbVie Inc.
- Sanofi S.A.
- Bristol-Myers Squibb Company
- Hoffmann-La Roche Ltd
- Johnson & Johnson
- Other Key Players
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