The global leukemia therapeutics market is expected to be worth USD 13.86 billion by 2029 and USD 8.8 billion in 2024, growing at a CAGR of 9.5% from 2024 to 2029.
Leukemia Therapeutics is a blood-forming tissue cancer that affects the blood components and bone marrow. When the bone marrow generates damaged lymphocytes, the generation of antibodies becomes defective, and the body's capacity to fight infections is lost. Leukemia is rising as a life-threatening concern around the globe, among other cancer forms. The leukemia therapeutics market includes a variety of therapies recommended by doctors for the treatment of leukemia. Leukemia is caused by various circumstances, including genetic mutations and a family history of the disease. Due to its radiographic abilities, Leukemia Therapeutics is an image scanner intensifier for intraoperative imaging in surgical, orthopedic, or emergency diagnostic operations.
The disease occurrence is primarily seen in middle-aged people and senior citizens. With recent breakthroughs in this area by Research teams across the globe, the scope for treatments is widening. The global leukemia therapeutics market is further driven by the rising prevalence of cancers such as acute lymphocytic leukemia (ALL), chronic lymphocytic leukemia (CLL), acute myeloid leukemia, and chronic myeloid leukemia. In addition, the action of novel acceptable increase and launch of new drugs into existence is also driving the global leukemia therapeutics market. The market growth also influences older people who need special care and increased research and development of new cancer therapies. In some countries, the factors that accelerate market growth are increased research and development, many patients, and a rise in funds from the government.
Introduction to the book of therapies in a well-organized and competent way and with fewer side-effects, metabolic inhibitors, and pipeline products waiting for approval are expected to favor the growth of the global leukemia therapeutics market. Nowadays, bone marrow transplant and stem cell therapy are the upcoming trends in the leukemia therapeutics market, expected to boom the market. However, limited treatment options and the availability of the generic form of drugs restrain the growth of the global leukemia therapeutics market. Furthermore, high unmet needs for diagnosis are also hampering the market growth. In addition, the treatment cost is high, and preventing the success or harmful effects of the treatment further controls the market development.
The breakthrough therapy designations and increase in the amount or extent of approvals granted by regulatory bodies such as the FDA provide lucrative opportunities for the drug innovators in the market to grow the global market. Bringing new ideas into the market and safer therapies could develop an opportunity to develop the worldwide leukemia therapy market. Upcoming new idealistic therapeutics create an opportunity for the growth of the leukemia therapeutics business. The government has taken charge, which is approved. The forthcoming new ideas for drug treatment are estimated to produce opportunities for the leading global leukemia therapeutics market. The quantitative analysis of the market and estimations enable the key stakeholders to invest a massive amount in prevailing market opportunities.
The restraints in the global leukemia therapeutics market are the lack of getting diagnosed early and no awareness among the people. The drug lifecycle roadmap is also a significant challenge that is redefining for drug innovators. Additionally, high treatment costs and drug costs hinder the growth of the global leukemia therapeutics market.
The COVID-19 pandemic has had a positive and negative impact on the healthcare sector. Various governments worldwide have imposed strict lockdowns to control the spread of the coronavirus, resulting in an imbalance in the demand and supply of pharmaceutical products in the healthcare industry. The majority of the companies have manufacturing facilities in developed countries such as the United States, the United Kingdom, and Germany, where the pandemic has had a significant effect on company profits for various healthcare products. Furthermore, as the number of non-COVID-19 patients in hospitals declined, it decreased the number of procedures and prescriptions for disease treatments. Besides that, according to the U.K. Coronavirus Cancer Monitoring Project (UKCCMP), blood cancer patients, particularly those with leukemia, multiple myeloma, and lymphoma, are at a greater risk of acquiring the COVID-19 virus, increasing the demand for leukemia therapeutics. As a result of these and other similar results, demand for leukemia therapeutics has increased during the COVID-19 pandemic, with market players reporting increased sales.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
Segments Covered |
By Disease Condition, Diagnosis, Treatments, Drugs and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
Key Market Players |
F. Hoffmann-La Roche Ltd, GlaxoSmithKline Pharmaceuticals Limited, Novartis International AG, Bristol-Myers Squibb, Eisai Co. Ltd, Biogen Idec, ERYtech Pharma, Celgene Corporation, Genmab A/S, Cephalon Inc., Clavis Pharma, and Pfizer Inc. |
Global Leukemia Therapeutics Market Analysis By Diagnosis
The MRI segment had the largest share of the global leukemia therapeutics market in 2023 and the lead of the segment is expected to continue throughout the forecast period. MRI is a better choice than X-rays or CT scans when doctors need a view of soft tissues. MRIs can provide clearer images of organs and soft tissues, such as torn ligaments and herniated discs, compared to CT images.
The stem cell therapy and bone marrow transplant segments accounted for the major share of the worldwide market in 2023 and this trend is expected to continue throughout the forecast period. Stem cell therapy and bone marrow transplant segments are emerging trends in the leukemia therapeutics market based on treatments. In addition, chemotherapy is another promising segment due to its ability to kill cancerous cells or inhibit their proliferation while maintaining a normal lymphocyte level in chemotherapy.
The gleevec segment was one of the significant market growth contributors to the global market and is predicted to continue the lead in the global market during the forecast period.
North America holds the largest share of the global leukemia therapeutics market, followed by Europe. Factors such as the rising prevalence of cervical cancer, growing awareness of cervical cancer screening programs, and government support drive the growth of the Leukemia therapeutics market in the North American region. On the other hand, the European market is predicted to be the second-most promising regional market in the global market. The rapid growth of these two areas can be attributed to consumers' increasing awareness of effective therapeutics' availability in the coming years. Furthermore, technological advances and favorable government policies and initiatives are expected to boost the market for leukemia therapeutics in North America and Europe in the near future.
Asia Pacific market is growing rapidly due to the rising consumer market, increasing the aging population, and raising awareness for healthcare among the population in the region's developing nations. Furthermore, developing healthcare infrastructure in emerging economies offers promising growth opportunities for Asia Pacific market players. The rising contribution from China, India, and Japan and growing investments in research and development are expected to boost the Asia Pacific leukemia therapeutics market in the coming years. Additionally, rising consumer disposable income and the growing prevalence of leukemia are expected to drive market growth over the forecast period.
Some of the prominent companies dominating the global leukemia therapeutics market profiled in this report are F. Hoffmann-La Roche Ltd, GlaxoSmithKline Pharmaceuticals Limited, Novartis International AG, Bristol-Myers Squibb, Eisai Co. Ltd, Biogen Idec, ERYtech Pharma, Celgene Corporation, Genmab A/S, Cephalon Inc., Clavis Pharma, and Pfizer Inc.
By Disease Condition
By Diagnosis
By Treatments
By Drugs
By Region
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