Leukemia Therapeutics Market - Global Industry Insights, Trends, Outlook
Posted: Jul 23, 2019
Leukemia also known as blood cancer hinders ability of an individual to fight infection. It is characterized by formation of tumors in blood-forming tissues including bone marrow. Various type of leukemia include acute lymphoblastic leukemia, acute myeloid leukemia, and chronic lymphocytic leukemia. Fatigue, weight loss, frequent infections and easy bleeding or bruising are some of the symptoms of this disease.
Treatment of early leukemia include monitoring and severe leukemia is treated with chemotherapy, followed by radiation and stem-cell transplant. According to Center for Disease Control and Prevention (CDC), in the U.S. around 45,360 people were diagnosed with leukemia in 2013, leading to 23,549 fatalities (13,625 men and 9,924 women). The condition is more prevalent among men than women.
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High diagnosis rate in developed economies supporting the leukemia therapeutics market growth in those regions
According to the Centre for Disease Control (CDC), around 14.1 million people were diagnosed with cancer in 2012, resulting in around 8.2 million fatalities. Around 19.3 million new cases of cancer are projected to be diagnosed by 2025. Leukemia cases are projected to be more in the developed economies such as North America and Europe, owing to genetic mutations caused by radiation exposure.
There are about 54,270 new cases of leukemia in the U. S. annually. Leukemia makes up about 3% of all new cancer cases. According to the World Cancer Research Fund, one third of the cancer cases occur in economically developed economies such as US and Europe, owing to lack of physical activity, obesity, and/or poor nutrition. Furthermore, around 90% of the leukemia occur in the middle age and develop with the aging.
Furthermore, in emerging economies of Asia Pacific such as China and India, the leukemia therapeutics market is expected to grow at significant rate due high unmet medical needs. However, low diagnosis rate of leukemia and lack of proper healthcare facilities in few Asian and African countries is restraining growth of the leukemia therapeutics market in these regions.
Key players operating in the global leukemia therapeutics market include GSK, Eisai C., Pfizer, Biogen, Celgene, Novartis AG, Genzyme Corporation, Roche, and Bristol Myers Squibb Company (BMS). Major market players are focused on new product launch, product pipeline, merger & acquisitions, clinical trials and collaboration & agreements to maintain leading position in market. For instance, Novartis recently launched tyrosine kinase receptor FLT-3 for the treatment of leukemia. Pfizer implemented product expansion strategy to capture major market share, received Food and Drug Approval (FDA) for Bosulif drug.
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