Number of pages: 100 | Report Format: PDF | Published date: October 13, 2022
Historical Years – 2023 | Base Year – 2023 | Forecasted Years – 2023-2032
According to the deep-dive market assessment study by Growth Plus Reports, the global acute myeloid leukemia market was valued at US$ 2.18 billion in 2023 and is expected to register a revenue CAGR of 10.2% to reach US$ 5.23 billion by 2032.
Acute Myeloid Leukemia Market Fundamentals
Acute myeloid leukemia (AML) is a type of hematologic cancer distinguished by the clonal expansion of myeloid blasts in the peripheral blood, bone marrow, and other tissues. A series of genetic changes in a hematopoietic precursor cell cause AML. Leukemic cells proliferate in the bone marrow and interfere with normal blood cell production, resulting in weakness, infection, bleeding, and other symptoms and complications. While recurrent acquired genetic abnormalities have been discovered in leukemia blasts, most patients' direct causes of AML are unknown.
AML typically develops rapidly, and the abnormal cells quickly replace normal bone marrow cells. The rapid growth of leukemia cells can crowd out healthy cells, leading to a decrease in the production of normal blood cells. AML primarily affects the bone marrow but can also circulate in the blood. The leukemia cells can spread to other organs, affecting their function. Diagnosis involves a combination of blood tests, bone marrow aspiration, and biopsy. These tests help identify abnormal cells in the bone marrow and determine the specific characteristics of the leukemia cells.
The rising prevalence of acute myeloid leukemia and the increased death rate among patients globally are the major factors driving the revenue growth of the global acute myeloid leukemia market. For instance, according to the National Cancer Institute factsheet, the estimated number of AML cases in the U.S. is about 20,380 and 11,310 deaths. Moreover, the growing geriatric population is increasing the patient pool for acute myeloid leukemia. The increased advancement in pharmacology and molecular biology to promote drug development also propels revenue growth in the global market. Additionally, initiatives by the government and non-government organizations to raise awareness about the early detection and treatment of various cancers are increasing the demand for acute myeloid leukemia treatment. Similarly, the rise in research related to targeted therapies and biologics is also pivotal in the revenue growth of the global acute myeloid leukemia market. The rise in unhealthy lifestyles, such as tobacco smoking and alcohol consumption, is also increasing the patient pool for acute myeloid leukemia.
The trend toward personalized medicine involves tailoring treatments based on the individual patient's genetic and molecular profile. As understanding of AML's genetic diversity increases, there is a growing emphasis on developing targeted therapies that can be more specific to the unique characteristics of each patient's leukemia. Furthermore, with increased investment in research and development, more clinical trials are being conducted to demonstrate the efficacy of the drugs, which is also expected to boost the global acute myeloid leukemia market revenue growth.
However, the cost of AML treatment, including chemotherapy, targeted therapies, and stem cell transplantation, can be substantial. This poses a challenge regarding healthcare affordability, and access to these treatments may be restricted for some patients, particularly in regions with limited healthcare resources or without comprehensive insurance coverage. Additionally, toxicity and side effects, drug resistance, and heterogeneity of the disease are some of the restraints impeding the overall market growth.
Acute Myeloid Leukemia Market Ecosystem
The global acute myeloid leukemia market is analyzed from the following perspectives: Drug Class, and Region.
Based on the drug class, the global acute myeloid leukemia market is segmented into antineoplastics, kinase inhibitors, hedgehog pathway inhibitors, and others (including combinations).
The antineoplastics segment dominated the market with the principal revenue share in 2023. The large revenue share of the antineoplastics segment can largely be attributed to the excellent demand for antineoplastics drugs as they are the most commonly used drug for cancer. Moreover, the overall survival rate of people who are treated with antineoplastics is thus increasing the demand for antineoplastics drugs. Additionally, these drugs are used as primary treatment for most cancers. According to the National Cancer Institute’s SEER*RX database, more than 2000 antineoplastic drugs exist. Similarly, rising Cytarabine approvals by the US Food and Drug Administration for treating acute myeloid leukemia are also expected to drive the segment growth.
Acute Myeloid Leukemia Market by Region
The global acute myeloid leukemia market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global acute myeloid leukemia market with the largest revenue share in 2023, followed by Europe. Asia Pacific market is expected to register the fastest revenue CAGR during the forecast period. The large share of North America can be attributed to the growing need for the rising prevalence of acute myeloid leukemia, technologically improved healthcare IT, and increased funding to upgrade OR infrastructure.
According to the American Society of Clinical Oncology, in 2021, an estimated 20,240 people of all ages (11,230 men and boys and 9,010 women and girls) will be diagnosed with this disease in the United States. Acute myeloid leukemia is the second most common type of leukemia in both adults and children, with adults accounting for the vast majority of cases. Furthermore, increasing research & development and product launches for acute myeloid leukemia are boosting the market revenue growth in this region. The presence of well-developed healthcare infrastructure and the top market players in the region is also expected to propel regional growth.
North America is a medical research and innovation hub, particularly the United States. Research institutions, academic centers, and pharmaceutical companies in the region actively contribute to advancements in understanding the biology of AML, identifying novel therapeutic targets, and developing new treatment modalities. North America typically has access to a wide range of treatment options for AML, including traditional chemotherapy, targeted therapies, and stem cell transplantation. Clinical trials and research studies often allow patients to access cutting-edge treatments.
Acute Myeloid Leukemia Market Competitive Landscape
The prominent players operating in the global acute myeloid leukemia market are:
Acute Myeloid Leukemia Market Strategic Developments
Acute myeloid leukemia (AML) is a type of hematologic cancer distinguished by the clonal expansion of myeloid blasts in the peripheral blood, bone marrow, and other tissues.
The global acute myeloid leukemia market was valued at US$ 2.18 billion in 2023.
The estimated market size of the global acute myeloid leukemia market in 2032 is US$ 5.23 billion.
The revenue CAGR of the acute myeloid leukemia market during the forecast period will be 10.2% from 2024 to 2032.
Some key global acute myeloid leukemia companies are Pfizer Inc., Genentech Inc., Novartis AG, Astellas Pharma Inc., Bristol-Myers Squibb Company, Servier Laboratories, and Jazz Pharmaceuticals plc.
*Insights on financial performance are subject to the availability of information in the public domain
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