Number of pages: 100 | Report Format: PDF | Published date: August 12, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global leukemia therapeutics market was pegged at US$ 13.95 billion in 2021 and is expected to witness a CAGR of 6.5% during the forecast period.
Leukemia is a cancer of the blood cells, and it generally refers to cancer of the WBCs. In leukemia, the bone marrow produces an excessive amount of white blood cells that function abnormally. Leukemia initiates in the blood-forming tissues such as the bone marrow and lymphatic system, the bone marrow is the part where red blood cells, white blood cells, and platelets are produced. Mutation of genes and genetic disorders are the leading causes of leukemia. There are various types of leukemia such as acute myeloid leukemia, acute lymphocytic leukemia, chronic myelogenous leukemia, and chronic lymphocytic leukemia. Leukemia commonly occurs in adults older than 55, but nowadays it is one of the most common cancers in children below 15 years of age. Leukemia is more common in men than in women. Treatments for leukemia include radiation, chemotherapy, and stem cell transplantation.
The rising geriatric population, high prevalence of leukemia, and increase in research & development activities for novel immunotherapies are some of the major factors expected to fuel the market growth. Moreover, an increasing number of approvals by regulatory bodies and increasing cancer research funding are some of the other factors playing a pivotal role in propelling the global leukemia therapeutics market. However, the high cost of treatment and side effects related to the treatment are hindering the growth of the leukemia therapeutics market to a certain extent.
The global leukemia therapeutics market has been analyzed from four perspectives: type, treatment type, mode of administration, and region.
Leukemia Therapeutics Market by Type
Based on type, the leukemia therapeutics market has been segmented into acute lymphocytic leukemia (ALL), acute myeloid leukemia (AML), chronic myeloid leukemia (CML), and chronic lymphocytic leukemia (CLL). Chronic lymphocytic leukemia held the largest share of the market in 2021. The large share of the market can be attributed to the growing incidence of chronic lymphocytic leukemia coupled with the rising geriatric population and rising incidence in children. Increasing investments and funding for the development of innovative & novel cancer drugs like CAR T-cell and combination drugs are also playing a pivotal role in driving segmental growth.
Leukemia Therapeutics Market by Treatment Type
Based on treatment type, the market has been segmented into targeted drugs, chemotherapy, and immunotherapy. The targeted drugs segment accounted for the largest share of the market in 2021, owing to the wide usage of these drugs for the treatment of leukemia. Moreover, higher efficacy and fewer side effects are some of the advantages of the targeted drugs which make them preferable. For instance, patients suffering from chronic myelogenous leukemia have a specific chromosome called the Philadelphia chromosome which produces an abnormal protein that enhances the growth of leukemia. The abnormal protein can be blocked with the use of targeted therapy. Furthermore, the increasing number of FDA-approved drugs and the rising expenditure on the development of novel drugs are also expected to propel the growth of the targeted drugs for leukemia during the forecasted period. FDA has approved 6 different CAR T- cell therapy for the treatment of leukemia since 2017.
Leukemia Therapeutics Market by Mode of Administration
Based on the mode of administration, the market has been segmented into injectable and oral. The injectable route accounted for the largest share of the leukemia therapeutics market in 2021. The majority of leukemia drugs available on the market are injectable drugs. There has been rising adoption of injectable drugs in targeted therapy or chemotherapy owing to their effectiveness as compared to other dosage forms. These factors are expected to boost the growth of the segment in the market
Leukemia Therapeutics Market by Region
Based on region, the global leukemia therapeutics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the market for leukemia therapeutics holding the largest market share in 2021 followed by Europe. Several factors have contributed to the growth of the leukemia therapeutics market in the North America region including the rising geriatric population and increasing prevalence of leukemia. According to the National Cancer Institute, it is estimated that in 2022 there will be 60,650 new cases of Leukemia in the U.S. of which estimated death will be 24,000. Leukemia contributes to about 3.2% of all cancer cases in the U.S. Moreover, the launch of new drugs & therapies, the increasing number of FDA approvals for drugs, and the rising investments in the R&D of cancer drugs are other important factors boosting the market growth in the North America region.
Some of the prominent players operating in the global leukemia therapeutics market include
The rising geriatric population, high prevalence rate of cancer in adults and children, and rising research & development activities for novel immunotherapies are some of the major factors expected to fuel the market growth.
Region-wise, North America has the largest market share followed by Europe; and the Asia Pacific is expected to be the fastest growing region during the forecast period.
The high cost related to therapy and the fetal side effect associated with drugs are the major reasons which are restricting the global leukemia therapeutics market.
Some of the key companies are Novartis International AG, Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd, Sanofi S.A, AbbVie Inc., Gilead Sciences, Inc., Takeda Pharmaceutical Company Limited, GlaxoSmithKline plc, Amgen Inc., and Pfizer Inc. among others.
The global leukemia therapeutics market is estimated to be US$ 24.59 billion in 2030 and is expected to grow at a CAGR of 6.3%.
*Insights on financial performance is subject to availability of information in public domain