Market Overview
The clinical condition in which an increased number of abnormal leukocytes or generally called white blood cells of malignant characteristic is called leukemia. Frequent infections, fever with chills and fatigue are early signs of leukemia. Acute, chronic, lymphocytic, and myelogenous leukemias are classified under leukemia. Cancer statistics center of American Cancer Society estimates 61780 new cases of leukemia in 2019. Treatment for such a malicious disease requires intense therapeutic attention. Therefore, the need for accurate treatment in the rising population of leukemia patients is the major factor impelling the global leukemia therapeutics market growth. The traditional therapies involved in the treatment of leukemia are chemotherapy, biological therapy, targeted therapy, radiation therapy, and stem cell transplant. The complex pathology of leukemia demands advancements in medical infrastructure for treatment. Hence, letting the market key players have an immense opportunity to invest in research and development and bring forth innovation in leukemia therapy. This generates a lead for clinical researchers to investigate better drug administration methods. Efforts which are being made to deliver more effective leukemia therapies is likely to trigger the leukemia therapeutics market growth.
However, on the flip side, the high cost of existing leukemia therapies and investment required for developing new therapies is curbing the leukemia therapeutics market expansion.
Global leukemia therapeutics market is expected to grow significantly over the forecast period. It is anticipated that the market held the value of USD 10.7 billion in 2017 and the market will hold a CAGR of 7.50% and a value of USD 26 881.88 million by 2030 during the assessment period, predicts Market Research Future (MRFR).
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Segmental Analysis
The global leukemia therapeutics market has been segmented into type, applications, and region.
Based on type, the leukemia therapeutics market is segmented into chemotherapy, biological therapy, targeted therapy, radiation therapy, and stem cell transplant. The Chemotherapy segment which is anticipated to grow with the highest CAGR is further sub-segmented into alkylating agents, antimetabolites, antitumor antibiotics, and others.
Based on applications, the leukemia therapeutics market is segmented into acute lymphocytic leukemia, acute myelogenous leukemia, chronic lymphocytic leukemia, chronic myelogenous leukemia, and others.
Based on region the leukemia therapeutics market is segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa. The European leukemia therapeutics market has been segmented into Western Europe and Eastern Europe. The Western Europe segment is further divided into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The leukemia therapeutics market in Asia-Pacific has been further divided into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific.
Regional analysis
Reputed companies in North America manufacturing innovative and effective leukemic therapeutics is anticipated to be a major force allowing North America to dominate the leukemia therapeutics market Growing numbers of leukemia patients in the European region is likely to drive the leukemia therapeutics market in Europe in the upcoming years. Where the leukemia therapeutics market in the Asia-Pacific region is likely to grow at a rapid rate, the Middle East & Africa is expected to show stagnancy in the market proliferation.
Industry Update
April 2019: Innovative Cellular Therapeutics (ICT), a clinical stage biotechnology company has achieved promising preclinical and clinical results in late-stage leukemia and lymphoma with novel CAR-T constructs. ICTCAR003, targets CD19 for the treatment of B-cell acute lymphoblastic leukemia.
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