Leukemia also known as blood cancer hinders ability of an individual to fight infection. It is characterized by formation of tumors in blood-forming tissues including bone marrow. Various type of leukemia include acute lymphoblastic leukemia, acute myeloid leukemia, and chronic lymphocytic leukemia. Fatigue, weight loss, frequent infections and easy bleeding or bruising are some of the symptoms of this disease.
Leukemia Therapeutics Market – Dynamics
Rising incidences of cancer is expected to drive the market growth over the forecast period. According to the Centre for Disease Control (CDC), around 14.1 million people were diagnosed with cancer in 2012, resulting in around 8.2 million fatalities. Around 19.3 million new cases of cancer are projected to be diagnosed by 2025.
Moreover rising product approval and product launch by the market players is expected to propel the leukemia therapeutics market. For instance, in November 2018, Pfizer Inc., received the U.S. Food and Drug Administration (FDA) approval for glasdegib (DAURISMO), the Hedgehog pathway inhibitor for the treatment of adults suffering from acute myeloid leukemia (AML). Similarly, in April 2017, Novartis Pharmaceuticals, Inc., received U.S. Food and Drug Administration (FDA) approval for midostaurin (Rydapt) for the treatment of adult diagnosed with FLT3-mutated acute myeloid leukemia (AML).
Leukemia Therapeutics Market – Regional Insights
Leukemia cases are projected to be more in the developed economies such as North America and Europe, owing to genetic mutations caused by radiation exposure. According to Center for Disease Control and Prevention (CDC), in the U.S. around 45,360 people were diagnosed with leukemia in 2013, leading to 23,549 fatalities (13,625 men and 9,924 women). The condition is more prevalent among men than women. Leukemia makes up about 3% of all new cancer cases. Also according to the World Cancer Research Fund, one third of the cancer cases occur in economically developed economies such as US and Europe, owing to lack of physical activity, obesity, and/or poor nutrition. Furthermore, around 90% of the leukemia occur in the middle age and develop with the aging.
Furthermore, in emerging economies of Asia Pacific such as China and India, the leukemia therapeutics market is expected to grow at significant rate due high unmet medical needs. Rising strategic partnership and acquisition by the market players is expected to bolster the market growth. For instance, in April 2019, Astellas Pharma Inc. a japan based company and Concerto HealthAI, a real-world data (RWD), artificial intelligence (AI) technology and outcomes science company collaboratively launched Real-World Evidence (RWE) initiative on Acute Myeloid Leukemia in order to improve treatment of patients with suffering from FLT3 mutation-positive relapsed AML.
However, low diagnosis rate of leukemia and lack of proper healthcare facilities in few Asian and African countries is restraining growth of the leukemia therapeutics market in these regions.
Leukemia Therapeutics Market Taxonomy:
By Disease Condition:
Key players in the leukemia therapeutics market:
Some of the key players operating in the leukemia therapeutics market includes GlaxoSmithKline plc, Eisai C., Pfizer, Biogen, Celgene, Novartis AG, Genzyme Corporation, Roche, and Bristol Myers Squibb Company (BMS)