SEATTLE, April 08, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global chronic myeloid leukemia treatment market is estimated to be valued at US$ 7,216.3 million in 2021, and is expected to exhibit a CAGR of 6.0% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Chronic Myeloid Leukemia Treatment Market:
Key trends in the market include increasing engagement of government regulatory organizations in transforming healthcare and medical field using new research and development activities, increasing adoption of drugs for avascular necrosis, drug launches, inorganic activities such as collaborations and others.
The increasing number of drug approvals from regulatory body is expected to drive the market growth over the forecast period. For instance, in November 2021, Ascentage Pharma Limited, a biopharmaceutical company, announced that the European Commission (EC) had granted the drug candidate, olverembatinib (HQP1351), an orphan designation for the treatment of chronic myeloid leukemia (CML).
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Increasing number of inorganic growth strategies such as distribution agreements by market key players is expected to drive the growth of global chronic myeloid leukemia treatment market over the forecast period. For instance, in June 2016, IL-YANG PHARM CO. LTD. announced that the company had signed a distribution agreement with Laboratories Biopas S.A., a pharmaceutical marketing servicing company, to distribute SUPECT (radotinib), a drug developed to cure Leukemia. Laboratories Biopas S.A. has its operations in 15 countries in Latin America. Under the agreement, Laboratories Biopas S.A., will have exclusive marketing and distribution rights of Supect in countries such as - Mexico, Ecuador, Venezuela, Peru, Chile, Panama, and others. Furthermore, the increasing number organic strategies such as product launch is expected to boost the growth of global chronic myeloid leukemia market. For instance, in July 2019, Lupin, announced the launch of Imatinib Mesylate Tablets, 100 mg (base) and 400mg (base). Moreover, Lupin’s Imatinib Mesylate Tablets, 100mg (base) and 400mg (base), is the generic version of Novartis Pharmaceuticals Corporation’s (Novartis) Gleevec Tablets, 100mg and 400mg.
Key Market Takeaways:
Key market players operating in the market are appointing the third party distributors to strengthen their product reach. This in turn is expected to drive the growth of global chronic myeloid leukemia treatment market. For instance, in December 2017, Pfizer Inc., a pharmaceutical company, announced that the company had signed a distribution agreement with Acentrus Specialty, an Integrated Care Network and health system solution, to distribute the Pfizer Oncology products: Ibrance (palbociclib), Bosulif (bosutinib), Sutent (sunitinib), Inlyta (axitinib), and Xalkori (crizotinib) in the U.S.
Among region, North America is expected to hold a dominant position in the global chronic myeloid leukemia treatment market over the forecast period, owing to the increasing number of drug approvals by regulatory bodies in the region. For instance, in December 2020, Takeda Pharmaceutical Company Limited., a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) approved the supplemental New Drug Application (sNDA) for ICLUSIG (ponatinib) for adult patients with chronic-phase (CP) chronic myeloid leukemia (CML) with resistance or intolerance to at least two prior kinase inhibitors.
Competitive Landscape:
Key players operating in the global chronic myeloid leukemia market include Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb Company, Pfizer, Inc., Takeda Pharmaceutical Company Limited., Innovent Biologics, Inc., Viatris Inc., (Mylan N.V.), Lupin, IL-YANG PHARM CO. LTD., Million Health Pharmaceuticals, and Celon Labs.
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Market Segmentation:
- Global Chronic Myeloid Leukemia Treatment Market, By Drug Type:
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- Tyrosine Kinase Inhibitors
- Imatinib (Gleevac)
- Dasatinib (Sprycel)
- Nilotinib (Tasigna)
- Bosutinib (Bosulif)
- Ponatinib (Iclusig)
- Asciminib (Scemblix)
- Others
- Antimetabolites
- Others
- Tyrosine Kinase Inhibitors
- Global Chronic Myeloid Leukemia Treatment Market, By Distribution Channel:
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- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Chronic Myeloid Leukemia Treatment Market, By Region:
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- North America
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- By Country:
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- U.S.
- Canada
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- Latin America
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- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
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- Europe
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- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
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- Asia Pacific
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- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
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- Middle East
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- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
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- Africa
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- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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