Research Nester has released a report titled “Leukemia Therapeutics Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global leukemia therapeutics market in terms of market segmentation by application, drug class, route of administration, therapy, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global leukemia therapeutics market is segmented by therapy into chemotherapy, immunotherapy and targeted therapy, out of which, the chemotherapy segment registered the largest market share of 62.45% in the year 2019 on account of the continuous development of chemo drugs and is further anticipated to grow at a CAGR of 10.21% during the forecast period, i.e. 2021-2028. The segment, which registered a value of USD 7004.80 million in the year 2019, is anticipated to gain an incremental $ opportunity of USD 713.03 million in the year 2020 as compared to the previous year and further attain an absolute $ opportunity of USD 8286.63 million by growing at 1.97x during the forecast period.
The global leukemia therapeutics market, which registered a value of USD 11,215.91 million in the year 2019, is anticipated to gain a CAGR of 10.81% across the globe over the forecast period owing to the increasing number of patients with leukemia, which is raising the need for advanced treatment solutions. Additionally, factors such as the growing advancements in technology in the healthcare sector, increasing R & D investments and the continuous advancements and development for blood cancer testing are further anticipated to promote towards the growth of the global leukemia therapeutics market in the coming years. The market is additionally anticipated to gain an incremental $ opportunity of USD 1,209.29 million in the year 2020 as compared to the previous year and further attain an absolute $ opportunity of USD 14,470.58 million by growing at 2x during the forecast period.
Regionally, the global leukemia therapeutics market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The market in North America registered the largest market share of 41.56% in the year 2019 and is further anticipated to gain an absolute $ opportunity of USD 513.76 million in the year 2020 as compared to the previous year. Increasing incidences of leukemia in Canada and the U.S., and the need for advanced healthcare treatment amongst people in the nations are some of the factors anticipated to drive the North America leukemia therapeutics market over the forecast period. The market is anticipated to grow at a CAGR of 11.01% during the forecast period and further gain an absolute $ opportunity of USD 6238.46 million by growing at 2x during the forecast period.
Growing Incidences of Leukemia
The World Health Organization, in one of its statistics, stated that in the year 2018, the global cancer burden has risen to 18.1 million new cases and 9.6 million deaths.
One of the types of cancer disease, leukemia is known to affect the lymphatic system and hampers blood cell formation. The disease has four significant classes, namely, Acute Lymphoid Leukemia (ALL), Acute Myeloid Leukemia (AML), Chronic Lymphoid Leukemia (CLL), and Chronic Myeloid Leukemia (CML). The disease is found to be more common in adults than children, as stated by the Leukemia Research Foundation. The statistics by the organization also stated that approximately 170 Americans were diagnosed with leukemia every day. The growing concern for the rising incidences of the disease is therefore anticipated to be one of the major causes, driving the need for effective treatment of the disease, which in turn is anticipated to drive the market growth.
However, concerns regarding the limited accessibility to healthcare facilities in several nations on the back of several factors, including the lengthy process for the development and support of new cancer treatments, the need for the collaboration of different public, private and non-profit entities and the rigid drug approval norms across several nations are anticipated to limit the growth of the global leukemia therapeutics market.
This report also provides the existing competitive scenario of some of the key players of the global leukemia therapeutics market, which includes company profiling of Amgen Inc. (NASDAQ: AMGN), F. Hoffmann-La Roche Ltd. (SWX: RO), AstraZeneca Plc. (LON: AZN), Novartis AG (SWX: NOVN), AbbVie Inc. (NYSE: ABBV), Sanofi (EPA: SAN) and Gilead Sciences (NASDAQ: GILD). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global leukemia therapeutics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.