According to Market Research Future (MRFR), the global leukemia therapeutics market had valued at USD 10.7 BN in 2017. The valuation is further projected to appreciate at 5.3% CAGR during the assessment period. Rising numbers of medical science and biotechnology companies is a major driving force behind the growth of the market. Besides, the improving outlook for leukemia treatments that are controlling the spread of the diseases fosters the market growth phenomenally.
The rapid adoption of leukemia therapeutics and increasing demand for effective treatment methods are driving the growth of the market. Additional factors, such as increasing numbers of R&D initiatives, clinical trials, and new approvals, are contributing to the growth of the market. Providers are collaborating with independent research centers and hospitals to bring novelties into therapies, which, as a result, are acting as major tailwinds for market growth.
Global leukemia therapeutics market is growing pervasively and will continue to do so in the years to come due to the growing prevalence of leukemia. With considerable advancements in biotechnology, various innovative therapies have emerged, which drive the market growth excellently. The proven efficacies of these therapeutics in providing effective treatment for leukemia are allowing the market to accrue exponentially on the global platform. Well-spread awareness about leukemia therapeutics has spurred the growth of the market.
leading the leukemia therapeutics market companies include Pfizer Inc. (US), Novartis AG (Switzerland), Eisai Co., Ltd. (Japan), Bristol-Myers Squibb Company (US), GlaxoSmithKline plc (UK), Takeda Pharmaceutical Company Ltd (Japan), Amgen Inc (US), Hoffmann-La Roche AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), and Sanofi SA (France), among others.
The market is segmented into three main dynamics to widen the scope of understanding,
- Based on type, the leukemia therapeutics market is segmented into chemotherapy, biological therapy, targeted therapy, radiation therapy, and stem cell transplant. The Chemotherapy segment which is anticipated to grow with the highest CAGR is further sub-segmented into alkylating agents, antimetabolites, antitumor antibiotics, and others.
- Based on applications, the leukemia therapeutics market is segmented into acute lymphocytic leukemia, acute myelogenous leukemia, chronic lymphocytic leukemia, chronic myelogenous leukemia, and others.
North America dominates the global leukemia therapeutics market, heading with an increase in the prevalence of leukemia and the geriatric population. Besides, the presence of many well-established players, alongside innovative therapies is estimated to drive the leukemia therapeutics market in North America. The market growth is predominantly supported by the US market, which is growing due to the large patient pool and high healthcare expenditures.
Europe stands second in the global leukemia therapeutics market. Increasing numbers of leukemia patients in the region drive the regional market predominantly. Furthermore, increased numbers of advanced treatment facilities, alongside the availability of skilled medical professionals and the government support for research & development, fosters regional market growth.
The Asia Pacific region is emerging as a promising market for leukemia therapeutics. Factors substantiating the market growth include increasing prevalence of leukemia and spreading awareness among people about the condition and availability of new treatment methods. China and India are proliferating markets for leukemia therapeutics, which contribute to the market growth in the region, majorly. The APAC leukemia therapeutics market is expected to grow phenomenally.
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