The global leukemia therapeutics market is expected to witness high growth during the forecast period due to rising incidences of chronic diseases worldwide. Leukemia is identified by the spread of disease (acute and chronic) commonly caused due to exposure to radiation, unhealthy lifestyle habits, and environmental factors. Increasing geriatric population base and high unmet needs regarding early diagnosis and treatment of leukemia are the key factors driving the market. According to the report published by WHO, globally leukemia is the most common blood cancer in males, 0.0148% men, and 0.009% women worldwide. Moreover, innovation in drug discovery, increasing volume of biotechnology firms, and increasing investments in the R&D sector are also expected to fuel the growth of this market. Similarly, introduction of novel therapies with more efficiency & fewer side effects, metabolic inhibitors, and pipeline products awaiting approvals are expected to drive the market over the forecast period. Increasing patient awareness regarding the latest technological advancements in therapies, and benefits such as tolerability, efficacy & safety are the factors expected to contribute the growth of this market. Ongoing research in the field of molecular diagnosis is expected to lead towards availability of efficient treatments for leukemia and expected to further drive the market growth.
Segmentation of the leukemia therapeutics market is done on the basis of type of disease condition, diagnosis, treatments, and drugs. The leukemia therapeutics market includes types of diseases such as chronic lymphatic leukemia, acute lymphatic leukemia, chronic myeloid leukemia, and acute myeloid leukemia. As of 2014, the chronic myeloid leukemia market dominated the overall therapeutic market owing to high prevalence rate, high drug treatment rates and rapid uptake of second-generation tyrosine kinase inhibitors. The diagnosis segment of leukemia is studied with reference to CT scan, biopsy, and MRI. Treatment segment market includes chemotherapy, radiation therapy, immunotherapy, surgery, targeted therapy, bone marrow transplant and stem cell therapy. For acute lymphatic leukemia radiation therapy and chemotherapy treatments were the most popularly used methods of 2014. Subtypes of acute lymphatic leukemia consist of segments such as precursor T acute lymphatic leukemia, precursor B acute lymphatic leukemia, acute biphenotypic leukemia, and burkitt leukemia. Chemotherapy hyper CVAD treatment dominated the market for chemotherapy treatments in 2014. Stem cell therapy and bone marrow transplant are the emerging trends in the leukemia therapeutics market and are expected to boost market growth. Drugs used for treating leukemia are Gleevec, Sapacitabine, GA101, Vasaroxine, Tosedosat, Revlimid, Bosutinib, Vidaza, Graspa, Marqibo, Dacogen, and Omapro. Gleevec was one of the major market growth contributors in 2013.
North America was found to be the largest regional market in 2014, due to the increasing patient awareness, technological advancement, supportive government policies in terms of incentives and investments, sophisticated healthcare infrastructure are the key factors attributing for its largest share. Europe follows North America due to larger presence of products with no major patent expiration and introduction of new brands such as Tasigna, Sprycel, Arragon, and Clolar. On the other hand, in Asia Pacific, the market is expected to grow rapidly due to presence of high unmet needs in the emerging market such as China, India, and Japan and increasing investments in R & D expenditures by biotechnology firms. Rapidly moving healthcare infrastructure, high market penetration rates, and growing awareness levels are the factors promoting the leukemia therapeutics market growth in Asia Pacific region.
Major market players operational in the leukemia therapeutics market are GSK, Pfizer, Novartis AG, Roche, Celgene, Biogen, Genzyme Corporation, Eisai C., Bristol Myers Squibb Company (BMS). Companies are adopting novel growth strategies such as product launch, merger & acquisitions, product pipeline, clinical trials, and collaboration & agreements, to gain competitive advantage. For example, Novartis launch tyrosine kinase receptor FLT-3 for leukemia. Pfizer adopted a product expansion strategy to capture major market share, received FDA approval for its Bosulif drug for the treatment of chronic myelogenous leukemia (CML).
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.