Market Insights
Increasing diagnoses of AML are due to exposure to carcinogenics which are present everywhere. Changing lifestyles have given rise to unhealthy habits which lead to cancer. AML can also be passed genetically, and increased prevalences of cancer combined with the growing population drive the market. Other key factors of note which are affecting the market include improving reimbursement policies, and increasing number of cancer hospitals staffed with specialists to specifically treat cancers like AML. Supportive funding for research and development of treatment for this swiftly progressing diseases is expected to offer various opportunities for growth. Awareness regarding actual myeloid leukemia has been observed to be increasing and is likely to increase diagnoses and lead to growth over the forecast period. However, the side effects associated with drugs used for treatment currently and the availability of effective medication are challenging the growth of the market.
The Acute Myeloid Leukemia Treatment Market will register a CAGR of approx 5.3% and is expected to reach USD 1.2 billion during the forecast period. This type of cancer is comparatively rare and progresses at a rapid pace thus creating significant demand for effective treatment and diagnostic options.
Market Segmentation
The global acute myeloid leukemia treatment market is segmented on the basis of disease type, treatment, and region. By disease type, the market is segmented into promyelocytic, myeloblastic, myelomonocytic, monocytic, megakaryocytic and erythroleukemia.
By treatment, the market is segmented into chemotherapy and hematopoietic stem cell transplantation. The chemotherapy segment is further segmented into post remission and induction.
The regional segmentation of the AML treatment market divides the globe into North America, Europe, Asia Pacific and the Middle East and Africa.
Regional Analysis
Led by the US, North America accounts for the largest share of the global market. The presence of various market-leading players and increasing investments in R&D for drug development drives the market. The region has favorable reimbursement policies and high healthcare expenditure which bring it to the forefront of the global acute myeloid leukemia treatment market. Europe follows the North American market due to a large number of hospitals present in the region combined with high disposable incomes. North America and Europe follow similar growth patterns.
The Asia Pacific is expected to grow at the highest CAGR during the review period due to large unmet potential present in the region. Countries such as India and China are anticipated to drive demand for AML treatment. The rapid growth in the region's economy combined with a growing demand for advanced healthcare is expected to encourage considerable growth for the APAC.
Key Players
The competitive analysis of the global AML market reveals key strategies used by various leading market players. Prominent players included in the report are Ambit Biosciences Corporation, Novartis AG, Sanofi, Cyclacel Pharmaceuticals Inc., Bristol Myers Squibb, Celgene Corporation, Johnson & Johnson, and Pfizer Inc.
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