NEWARK, Del, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The leukemia therapeutics treatment market value is US$ 15,246.7 million in 2023. In contrast, the 2022 value was US$ 14,504.8 million. The market will progress at a CAGR of 7.1% through 2033. By the end of the forecast period, the market's valuation is expected to reach US$ 30,318.5 million.
An increase in leukemia cases necessitates leukemia therapeutics treatment. The players in the market are taking increasingly innovative steps to combat leukemia in patients. After approval, introducing new drugs and treatments aims to improve the efficiency of treatment. Technology thus plays a key role in the market.
Survival rates of leukemia patients are rising largely due to leukemia treatments. Thus, the leukemia therapeutics treatment market has a positive image in the market. Combined with positive attitudes towards cancer care and preventive healthcare, the market is thus flourishing.
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Patients of leukemia encompass all age groups. However, a few age groups are more susceptible to the disease. Patients 65 and above years of age and 20 and below years of age represent a significant consumer base for the market.
“Significant investment is needed to come up with breakthroughs in treatment and drug innovations. Companies invest in research and development to make treatment more efficient. Governments worldwide are backing the research for developing efficient leukemia treatment methods. Thus, there are lucrative opportunities for leukemia therapeutics treatment market players,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.
Key Takeaways from the Leukemia Therapeutics Treatment Market:
- The leukemia therapeutics treatment market will likely be valued at US$ 30,318.5 million by 2033.
- Patients prefer injectable medicines, which accounted for 61.7% of the market share by mode of administration in 2022.
- Patients are most commonly using targeted drugs and immunotherapy as treatment. Targeted drugs & immunotherapy made up 57.2% of the market share by treatment in 2022.
- China is expected to show rapid growth in the market. The CAGR of the market in China is forecasted at 10.6% through 2033.
- Another Asian market with great potential is South Korea. The South Korean market is expected to grow at a CAGR of 9.6% over the forecast period.
- The market is projected to grow at a CAGR of 9.6% and 8.6% in Japan and India, respectively.
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Competition Analysis of the Leukemia Therapeutics Treatment Market
Through research and development, players in the market are focused on innovations. New drugs and breakthroughs improve the efficiency of treatment and help bring diversity to companies' portfolios. Some prominent companies in the market include Ambit Biosciences Corporation, Biogen Idec, Inc., Ariad Pharmaceuticals, Inc., and Bristol-Myers Squibb.
Recent Developments in the Leukemia Therapeutics Treatment Market
- In October 2023, the drug Revumenib had success in the trial stage, as announced by the manufacturer Syndax Pharmaceuticals.
- In November 2022, the European Council approved BeiGene’s drug Brukinsa (Zanubrutinib). Chronic lymphocytic leukemia (CLL) patients are the target group for the drug.
- In September 2020, the US Food and Drug Administration (FDA) approved the Onureg drug from Bristol Myers Squibb. The drug boasts of helping patients in remission.
Top 6 Key Companies in the Leukemia Therapeutics Treatment Market
- Ambit Biosciences Corporation
- Biogen Idec, Inc.
- Ariad Pharmaceuticals, Inc.
- Bristol-Myers Squibb
- Novartis Pharmaceuticals
- Pfizer
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Key Segments Analysis of the Leukemia Therapeutics Treatment Market:
By Treatment:
- Targeted Drugs & Immunotherapy
- Chemotherapy
By Molecule:
- Biologics
- Single Molecule
By Mode of Administration:
- Injectable
- Oral
By Indication:
- AML
- CML
- ALL
- CLL
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News
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