Global 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), is estimated to be valued at US$ 7,216.3 Mn in 2021, and is expected to exhibit a CAGR of 6.0% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Increasing number of incidence of chronic myeloid leukemia disease, is expected to drive the global chronic myeloid leukemia treatment market growth in the near future. For instance, in 2020, according to National Center for Biotechnology Information, the data regarding chronic myeloid leukemia, was collected from global burden, and it indicates that the chronic myeloid leukemia incidence varies with age, gender, and regions. Moreover, the annual incidence of CML varies from 0.4/100,000 persons to 1.75/100,000 persons in different countries. The incidence of CML increases with age and is rare in children less than 14 years of age (0.7/million children/year).
Furthermore, non-government and government initiatives to increase awareness regarding cancer and cancer treatment is expected to drive the growth of market. For instance, Union for International Cancer Control (UICC), a non-governmental organization engaged in reducing the global cancer burden and to promote awareness regarding the cancer
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 pandemic caused disruptions in conducting clinical trials. This led to delay in product approvals and thereby hindered the market growth. The COVID-19 pandemic has also affected the economy by directly affecting the production and demand, creating disruptions in distribution channels, and causing a negative financial impact on companies and financial markets.
Browse 27 Market Data Tables and 27 Figures spread through 237 Pages and in-depth TOC on “Global Chronic Myeloid Leukemia Treatment Market”- Forecast to 2028, 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)
To know the latest trends and insights prevalent in the Global Chronic Myeloid Leukemia Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/chronic-myeloid-leukemia-treatment-market-1726
Surge in prevalence of chronic myeloid leukemia (CML) drives the demand for CML treatment products. Thus, key players are engaged in developing new product. This in turn to propel the growth of market. For instance, the U.S. Food and Drug Administration approved the supplemental new drug application for ponatinib (Iclusig) to treat patients with chronic-phase chronic myeloid leukemia (CML) in December 2020.
Key Takeaways of the Global Chronic Myeloid Leukemia Treatment Market:
- The global chronic myeloid leukemia treatment market is expected to exhibit a CAGR of 6.0% during the forecast period. Strong pipeline for chronic leukemia treatment products is anticipated to drive the growth of market. For instance, a clinical trial study sponsored by Novartis Pharmaceuticals for drug: ABL001 is in clinical trial phase III.
- Based on drug type, the tyrosine kinase inhibitors segment is expected to exhibit the highest CAGR in the global chronic myeloid leukemia treatment market over the forecast period. This segment is further divided into imatinib (gleevec), dasatinib (sprycel), nilotinib (tasigna), bosutinib (bosulif), ponatinib (iclusig), asciminib (scemblix), and others. The availability of U.S. Food and Drug Administration approved TKIs products for treatment of chronic myeloid leukemia (CML) is expected to boost the growth of segment. For instance, Novartis AG, Pfizer Inc., Teva Pharmaceutical Industries Ltd., and among others are the manufacturers engaged in offering TKIs products for CML.
- Among distribution channels, hospital pharmacies segment is expected to register the highest CAGR over the forecast period in the global chronic myeloid leukemia treatment market, as the majority of chronic myeloid leukemia drugs are sold by hospital pharmacies.
- Among region, Asia Pacific is anticipated to expand at the highest CAGR in the global chronic myeloid leukemia treatment market over the forecast period. Strong focus of key players on growth strategies such as collaboration, acquisition, product launch & approval, and others in the Asia Pacific region is expected to drive the market growth. For instance, in April 2020, Dr. Reddy’s Laboratories Ltd., a pharmaceutical company, announced the launch of Invista, a formulation of Dasatinib that is bioequivalent to the innovator brand. Moreover, it is indicated for the treatment of chronic accelerated or myeloid or lymphoid blast phase and newly diagnosed in chronic phase adult patients with chronic myeloid leukemia (CML) in India.
- 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
