Our in-depth analysis of the global AML treatment market includes the following segments:
By Disease Type
Regionally, the global AML treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Among the market in these regions, the market in North America is anticipated to account for the largest share by the end of 2029 in the global acute myeloid leukemia treatment market. Increased government funding in R&D activities, a well-developed public healthcare sector and elevated disposable income of the people in the region are the major factors expected to drive the market growth during the forecast period. According to the data by the World Health Organization (WHO), as of 2018, 16.416 % of the GDP is spent on health sector in North America. Moreover, people-friendly medical reimbursement policies are also estimated to boost the market growth in North America. The market in Europe, on the other hand, is estimated to be a promising market owing to the high healthcare expenditure in the region. Moreover, the growth of the market is encouraged by the availability of a large geriatric population in the region. As of 2019, over 20% of the total population in Southern Europe was aged 65 years and above.
Moreover, the market share of Asia Pacific is expected to grow notably during the forecast period due to the enormous unmet potential present in the healthcare sector of the region. The rapid economic development combined with a growing demand for advanced healthcare system is likely to encourage considerable growth for the APAC region.
The global AML treatment market is further classified on the basis of region as follows:
The major industry leaders in the global acute myeloid leukemia (AML) treatment market are Novartis AG, Pfizer Inc. and Johnson & Johnson Services Inc. who are manufacturing FDA-approved AML treatment drugs. Other than these, many manufacturers such as Cyclacel Pharmaceuticals, Inc., Bristol Myers Squibb, Sanofi-aventis Groupe, and Eisai Co. Ltd. are involved in the research and development of AML treatment drug, with their drugs undergoing the different phases of clinical trials. Additionally, the market is estimated to witness increased competition among the key players in the upcoming years owing to the increased investment in R&D and for the interest of several new players to enter the market.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Rising prevalence of AML and increasing cancer mortality rate are the major factors driving the market growth.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
Ans: High cost of treatment and lengthy approval process for the treatment drug along with the multiple side effects of treatment are estimated to hamper the market growth.
Ans: The major players in the market are Pfizer, Novartis AG, Johnson & Johnson Services Inc., along with Cyclacel Pharmaceuticals Inc., Bristol Myers Squibb, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by disease type, treatment, end-user and by region.
Ans: The chemotherapy segment is anticipated to hold the largest market size as it is the most common and popular treatment for cancer and is estimated grow at a significant CAGR over the forecast period and display significant growth opportunities.