Chronic myeloid leukemia treatment market

Chronic Myeloid Leukemia Treatment Market, by Drug Type (Tyrosine Kinase Inhibitors (Imatinib (Gleevec), Dasatinib (Sprycel), Nilotinib (Tasigna), Bosutinib (Bosulif), Ponatinib (Iclusig), Asciminib (Scemblix), and Others), Antimetabolites, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

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Mar 2022
CMI1726
177 Pages
Excel & Pdf
Pharmaceutical

Summary

Chronic myeloid leukemia (CML) is a type of cancer that starts in certain blood-forming cells of the bone marrow. It most commonly occurs in the adults and very rarely it occurs in children. Chronic myeloid leukemia usually begins after age 60. CML is develop slowly and treated with targeted cancer drugs such as tyrosine kinase inhibitors, chemotherapy or a bone marrow transplant. Recent advances in cancer treatments has drastically improved the survival rate for this type of leukemia.

The global chronic myeloid leukemia treatment market is estimated to be valued at US$ 7,216.3 million in 2021, and is expected to exhibit a CAGR of 6.0% during the forecast period (2021-2028).

Figure 1. Global Chronic Myeloid Leukemia Treatment Market in Terms of Value (US$ million), By Region, 2021

Increase in focus on research and development activities by key players is estimated to drive the global chronic myeloid leukemia treatment market growth during the forecast period.

Several market players and research institutes are involved in research and development activities related to chronic myeloid leukemia treatment, which is expected to fuel the growth of the global chronic myeloid leukemia treatment market in the near future. For instance, in December 2020, the U.S. Food and Administration approved supplemental new drug application for ICLUSIG (ponatinib) for adult patients with chronic myeloid leukemia (CML).

Chronic Myeloid Leukemia Treatment Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2021:	US$ 7,216.3 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	6.0%	2028 Value Projection:	US$ 10,864.9 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Drug Type: Tyrosine Kinase Inhibitors (Imatinib (Gleevec), Dasatinib (Sprycel), Nilotinib (Tasigna), Bosutinib (Bosulif), Ponatinib (Iclusig), Asciminib (Scemblix), Others), Antimetabolites, Others) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Companies covered:	Teva Pharmaceutical Industries Ltd, F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc., Takeda Pharmaceutical Company Limited, Innovent Biologics, Inc., Viatris Inc. (Mylan N.V.), Lupin, IL-YANG PHARM CO. LTD., Million Health Pharmaceuticals, and Celon Labs
Growth Drivers:	Increase in focus on research and development activities by key players Increasing awareness programs regarding chronic myeloid leukemia
Restraints & Challenges:	High cost of chronic myeloid leukemia treatment drugs

Figure 2. Global Chronic Myeloid Leukemia Treatment Market Share (%), By Drug Type, 2021

Increasing awareness programs regarding chronic myeloid leukemia is anticipated to propel the global chronic myeloid leukemia treatment market growth over the forecast period.

The demand for drugs of chronic myeloid leukemia and its associated disorders such as blood cancers is rapidly increasing. The market players and non-profit organizations in various countries are implementing various initiatives and organizing awareness programs in order to increase the production of medications for chronic myeloid leukemia, which is expected to create lucrative opportunities for the chronic myeloid leukemia medication manufacturers and drive the market growth in the near future. For instance, on September 22, every year, the chronic myeloid leukemia (CML) Foundation Network conducts the World CML Day global awareness campaign.

Global Chronic Myeloid Leukemia Treatment Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic was first reported on December 31, 2019 in Wuhan, China. The World Health Organization (WHO) declared the COVID-19 a pandemic on March 11, 2020. The negative impact is mostly due to the delay in clinical trial study and product approval. Moreover, disturbance in supply chain due to COVID-19 is expected to hinder the growth of market.

Global Chronic Myeloid Leukemia Treatment Market: Restraints

Cost is a major factors that influences the selection of treatment. Thus, the high cost of chronic myeloid leukemia treatment drugs is expected to hamper the growth global chronic myeloid treatment market. Furthermore, in an article published by American Society of Clinical Oncology Journal in August 2020, mean annualized costs for CML was US$ 82,054, more than those for hematologic malignancies (HEM) US$ 74,993 in the U.S.

Key Players

Major players operating in the global chronic myeloid leukemia treatment market include Teva Pharmaceutical Industries Ltd, F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc., Takeda Pharmaceutical Company Limited, Innovent Biologics, Inc., Viatris Inc. (Mylan N.V.), Lupin, IL-YANG PHARM CO. LTD., Million Health Pharmaceuticals, and Celon Labs.

Table of Content

Table of Contents

*Browse 27 market data tables and 27 figures on "Chronic Myeloid Leukemia Treatment Market” - Global Forecast to 2028.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global chronic myeloid leukemia treatment market during the forecast period (2021-2028)?

The global chronic myeloid leukemia treatment market is estimated to be valued at US$ 7,216.3 million in 2021, and is expected to exhibit a CAGR of 6.0% between 2021 and 2028.

What are the major factors driving the market growth?

Factors such as increase in focus on research and development activities by key players is projected to boost the market growth over the forecast period.

Which is the leading drug type segment in the market?

The tyrosine kinase inhibitors segment is expected to hold a major market share of the market in 2021.

What are the key factors hampering the growth of the market?

The major factor hampering the market growth include high cost of chronic myeloid leukemia treatment drugs.

Which are the major players operating in the market?

Major players operating in the market include Teva Pharmaceutical Industries Ltd, F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc., Takeda Pharmaceutical Company Limited, Innovent Biologics, Inc., Viatris Inc. (Mylan N.V.), Lupin, IL-YANG PHARM CO. LTD., Million Health Pharmaceuticals, and Celon Labs.