Global $17.1Bn Leukemia Therapeutics Market Forecast to 2024: Focus on CLL, ALL, CML, AML – ResearchAndMarkets.com
June 10, 2019DUBLIN–(BUSINESS WIRE)–The “Leukemia
Therapeutics Market by Type (CLL, ALL, CML, AML), Treatment Type
(Chemotherapy & Targeted Drugs), Mode of Administration (Oral,
Injectable), Molecule Type (Small Molecules, Biologics), Gender, and
Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s
offering.
The leukemia therapeutics market is projected to reach USD 17.1 billion
by 2024 from USD 12.3 billion in 2019, at a CAGR of 6.8% during the
forecast period.
Market growth is largely driven by the rising prevalence of acute
lymphocytic leukemia (ALL), chronic lymphocytic leukemia (CLL), acute
myeloid leukemia (AML), and chronic myeloid leukemia (CML) and
increasing approvals of novel & innovative drugs and immunotherapies.
Chronic myeloid leukemia accounted for the largest share of
the market, by type of leukemia, in 2018
Factors such as the large number of treatment options available for the
treatment of CML and high incidence rate of CML are significantly
driving the growth of this market. For instance, in the US, there were
20,940 CML new cases, as compared to 20,110 in 2017. In addition, the
growth of this market segment is driven by the rising geriatric
population and increasing funding for cancer research and the
development of new therapies.
Targeted drugs & immunotherapy dominated the leukemia
therapeutics market, by treatment type, in 2018
Owing to the surging demand for targeted drugs, this segment likely to
dominate the market during the forecast period. Targeted drugs are most
widely used owing to their fewer side effects and higher efficacy and
success rate as compared to chemotherapy Owing to these factors, their
sales have increased in recent years. For instance, the first
FDA-approved immunotherapy for ALL by Novartis registered sales of USD
76 million in 2018 as compared to USD 6 million in 2017. Similarly, the
sales for BLINCYTO by Amgen indicated for ALL increased by 37% in the
fourth quarter of 2018.
North America to grow at the highest rate during the
forecast period (2019-2024)
There has been a tremendous increase in cell-based research activities
over the past decade. Increasing research in the field of regenerative
medicine for the treatment of leukemia and growing awareness of
personalized medicine have also resulted in the growth of this market.
In addition to it, the growth in this market is driven by the high
prevalence and incidence of leukemia and the rising geriatric
population. According to the Leukemia & Lymphoma Society, an estimated
381,774 people are living with or in remission from leukemia in the US.
The Canadian government is taking various initiatives to support
leukemia research and develop novel immunotherapies. For instance, in
January 2016, the Canadian government announced the provision of USD 20
million to the Centre for Commercialization of Regenerative Medicine
(CCRM) to help establish a stem cell therapy development facility in
Toronto (Canada).
Key Market Players
The major players in this market are AbbVie (US), Bristol-Myers Squibb
(US), Novartis (Switzerland, F. Hoffmann-La Roche (Switzerland), Pfizer
(US), Sanofi (France), Amgen (US), Gilead Sciences (US), Takeda
Pharmaceutical (Japan), and Celgene (US). Product approvals are a key
strategy adopted by key players in order to enhance their dominance in
this market.
Novartis is leading the global leukemia therapeutics market, owing to
its strong sales channel and innovative therapies. The company invested
~17.5% of its revenue for its R&D activities. In May 2018, Novartis
launched its CAR-T cell therapy for the second indication – treatment of
adult patients with relapsed or refractory (r/r) large B-cell lymphoma.
With the innovative launch of Kymriah, Novartis is now a pioneer of
leukemia immunotherapies.
Recent Developments
-
In January 2019, the EU approved BLINCYTO (blinatumomab) in patients
with Philadelphia chromosome negative minimal residual
disease-positive B-cell precursor acute lymphoblastic leukemia.
BLINCYTO is the first and only therapy for a minimal residual disease
that has been approved by the EU. -
In September 2018, blinatumomab received approval in Japan for the
treatment of relapsed or refractory B-cell acute lymphoblastic
leukemia. -
In July 2017, Celgene Corporation entered into a strategic partnership
to develop and commercialize BeiGene’s investigational anti-programmed
cell death protein 1 (PD-1) inhibitor, BGB-A317, for patients with
solid tumor cancers. In addition to it, BeiGene acquired Celgene’s
commercial operations in China and gained an exclusive license to
commercialize Celgene China’s cancer portfolio, inclusive of Vidaza.
Key Questions Addressed
-
What are the growth opportunities in the leukemia therapeutics market
across major regions in the future? -
Emerging countries have immense opportunities for the growth and
adoption of leukemia therapeutics market drugs and immunotherapies.
Will this scenario continue during the next five years? -
Where will all the advancements in products offered by various
companies take the industry in the mid- to long-term? -
What are the various leukemia drugs types and treatment type and their
respective market shares in the overall market? -
What are the new trends and advancements in the leukemia therapeutics
market?
Market Dynamics
Drivers
- Rising Prevalence of Leukemia
- Introduction of Innovative Therapies
Restraints
- Complexities in Manufacturing
Opportunities
- Growth Opportunities in Emerging Economies
Companies Mentioned
- AbbVie
- Amgen
- Bristol-Myers Squibb
- Celgene
- F. Hoffmann-La Roche
- Gilead Sciences
- Novartis AG
- Pfizer
- Sanofi
- Takeda
For more information about this report visit https://www.researchandmarkets.com/r/mzx62h
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Related
Topics: Leukemia
Drugs