Dublin, Sept. 22, 2023 (GLOBE NEWSWIRE) -- The "Global Leukemia Therapeutics Market Size, Share & Industry Trends Analysis Report By Drug Class (Targeted Therapy & Immunotherapy and Chemotherapy), By Distribution Channel, By Type, By Regional Outlook and Forecast, 2023 - 2029" report has been added to ResearchAndMarkets.com's offering.
The global leukemia therapeutics market is anticipated to achieve substantial growth, with projections indicating a remarkable expansion from $11.7 billion in 2029. This growth trajectory represents a compelling Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.
Chronic Lymphocytic Leukemia (CLL): A Major Market Contributor
Chronic lymphocytic leukemia (CLL) plays a pivotal role in propelling market growth, primarily due to the increasing aging population. It is expected to generate approximately $4,834.8 million in revenue, contributing significantly to the total market by 2029. Notably, cancer was responsible for one in six deaths, totaling 9.6 million fatalities, making it the second leading cause of death globally in 2018. In the United States, CLL accounts for 25% to 30% of all leukemia cases.
In 2020, the American Cancer Society projected roughly 21,040 new cases of CLL and approximately 4,060 fatalities. Moreover, CLL/SLL (Small Lymphocytic Lymphoma) is responsible for 191,000 cases and 61,000 deaths annually. While CLL can develop in adults as young as 30 years old, it is most prevalent among individuals aged over 70. It is extremely rare in children, and the incidence rises significantly with age.
Key Market Strategies: Partnerships Driving Innovation
Market participants are strategically pursuing partnerships as a key developmental strategy to meet evolving end-user demands. For example, in October 2022, Gilead collaborated with MacroGenics to advance and commercialize monoclonal antibody-based therapeutics for cancer treatment. This partnership will focus on the development of MGD024, an investigational bispecific antibody that targets CD3 and CD123, utilizing MacroGenics' DART platform.
Additionally, in October 2022, Bristol Myers Squibb entered an agreement with Century Therapeutics to develop and supply up to four induced pluripotent stem cell-derived, engineered natural killer cell and T cell programs for hematologic malignancies and solid tumors.
Market Leaders: Pfizer Leads the Way
According to the Cardinal Matrix - Market Competition Analysis, Pfizer, Inc. is the leading player in the Leukemia Therapeutics Market. In June 2020, Pfizer received approval for DAURISMO, a Hedgehog pathway inhibitor, combined with low-dose cytarabine, a type of chemotherapy, for treating newly diagnosed acute myeloid leukemia (AML) in adult patients. This approval opens new treatment possibilities for certain European patients and underscores Pfizer's commitment to serving individuals living with cancer.
Other notable innovators in the Leukemia Therapeutics Market include AbbVie, Inc., Bristol Myers Squibb Company, Sanofi S.A., and Gilead Sciences, Inc..
Market Growth Factors
- Innovative Therapies: Ongoing research projects are focusing on developing novel therapeutic approaches that combine various medications to improve outcomes for various leukemia types. The market is expected to benefit from cutting-edge diagnostics and therapies designed to enhance patient outcomes.
- Bioinformatics Tools: Pharmaceutical companies are investing in bioinformatics tools to streamline drug development. Predictive tools using statistical algorithms support target identification, lead optimization, and lead validation, thereby expediting the drug development process.
Market Challenges
- Side Effects and Regulations: The market's growth may be hindered by the side effects and adverse reactions associated with leukemia therapies. Treatments such as chemotherapy can cause a range of side effects, including skin conditions, hair loss, infections, and fatigue. Strict regulations may also impede market growth.
Scope of the Study
- By Drug Class: Targeted Therapy & Immunotherapy, Chemotherapy
- By Distribution Channel: Hospital Pharmacies, Drug Store & Retail Pharmacies, Online Providers
- By Type: Chronic Lymphocytic Leukemia, Acute Lymphocytic Leukemia, Chronic Myeloid Leukemia, Acute Myeloid Leukemia, Others
Key Market Players
A selection of companies profiled in the report includes Gilead Sciences, Inc., Bristol Myers Squibb Company, Sanofi S.A., AbbVie, Inc., Teva Pharmaceuticals Industries Ltd., Lupin Limited, Amgen, Inc., Takeda Pharmaceutical Company Limited, Pfizer, Inc., and Novartis AG.
For more information about this report visit https://www.researchandmarkets.com/r/cb8t3s
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