Number of pages: 100 | Report Format: PDF | Published date: October 13, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth+ Reports, the global acute myeloid leukemia market was valued at US$ 1.8 billion in 2021 and is expected to register a revenue CAGR of 10.2% during the forecast period of 2022 to 2030.
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. AML is caused by a series of genetic changes in a hematopoietic precursor cell. 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.
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. 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 is also propelling the 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 the research related to targeted therapies and biologics is also playing a pivotal role 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.
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 high cost of acute myeloid leukemia treatment products such as biologics, chemotherapy, and targeted therapies is the major restricting factor of the global acute myeloid leukemia market. Moreover, the lack of skilled professionals and awareness in developing countries is also hindering market revenue growth.
The global acute myeloid leukemia market has been analyzed from two perspectives: drug class, and region.
Acute Myeloid Leukemia Market by Drug Class
Based on drug class, the global acute myeloid leukemia market is segmented into antineoplastics, kinase inhibitors, hedgehog pathway inhibitors, and others (including combinations). The antineoplastics segment dominates the global acute myeloid leukemia market with the largest market revenue share in 2021. The large revenue share of the antineoplastics segment can largely be attributed to the excellent demand for antineoplastics drugs as it is 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
Based on region, the global acute myeloid leukemia market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global acute myeloid leukemia market in 2021, 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 rising prevalence of acute myeloid leukemia. 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.
The prominent players operating in the global acute myeloid leukemia market are:
The North America region dominates in terms of market revenue share. However, the Asia Pacific Region has the fastest revenue growth rate and can be considered as the key growth region.
The prominent players operating in the global acute myeloid leukemia market are Pfizer Inc., Genentech Inc., and Novartis AG, among others.
The estimated market size of the acute myeloid leukemia market in 2030 is expected to be US$ 4.31 billion.
The CAGR of the global acute myeloid leukemia market is expected to be around 10.2% during the forecast period of 2022 to 2030.
The antineoplastics segment dominates the global acute myeloid leukemia market.
*Insights on financial performance is subject to availability of information in public domain