Market Size of Acute Myeloid Leukemia Industry
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 1.83 Billion |
| Market Size (2029) | USD 2.97 Billion |
| CAGR (2024 - 2029) | 10.15 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Acute Myeloid Leukemia Market Analysis
The Acute Myeloid Leukemia Market size is estimated at USD 1.83 billion in 2024, and is expected to reach USD 2.97 billion by 2029, growing at a CAGR of 10.15% during the forecast period (2024-2029).
The COVID-19 pandemic has significantly impacted the acute myeloid leukemia market. Cancer treatments such as chemotherapy and immune suppressants damage the patient's immune system. This weakened immune system of the target population is expected to create a risk of Covid-19 infection. Various research was conducted to find the impact of Covid 19 on AML patients. According to the National Cancer Institute (NCI), in August 2021, people with cancer had a higher risk of severe illness from COVID-19.
Furthermore, according to an article published by the American Society of Hematology, in January 2022, due to anticipated shortfalls in blood bank supplies during the COVID-19 pandemic, blood transfusion thresholds were lowered while taking into account significant local/regional variability. Patients who tested positive for COVID-19 had got their treatment delayed. Since newly discovered AML is a treatment-emergent, intensive induction chemotherapy was made available to eligible AML patients. Thus, increased risk for an AML in a pandemic and the shortage of other treatment modalities are expected to drive the demand for AML drugs.
The key factors propelling the growth of this market are the high incidence and prevalence of acute myeloid leukemia, advancements in pharmacology and molecular biology to promote drug development, and increasing investments in research and development by pharmaceutical companies. According to the American Cancer Society, it is estimated that there will be 60,650 new leukemia cancer cases, of which 24,000 are expected to die in 2022 in the US. In addition, according to the same source, 20,050 new cases of acute myeloid leukemia (AML) are estimated in 2022 in the US. It will lead to increased adoption of AML therapies. The rising prevalence of AML in developed countries such as the US is expected to drive this market's growth.
Furthermore, with the rising investment in research and development, there is an increasing number of clinical trials conducted to demonstrate the effectiveness of the drugs. It is expected to drive the market over the forecast period. For Instance, according to the United States National Library of Medicine, a study titled 'Daunorubicin or Idarubicin With Cytarabine Plus Quizartinib vs. Physician's Choice in Newly Diagnosed FLT3-ITD+ AML (Q-SOC)' is in Phase III of clinical trials. The study was estimated to start in November 2021 and be complete in March 2025.
Thus, the abovementioned factors are impacting the market growth of the Acute myeloid leukemia market. However, stringent regulations on drugs and complications related to chemotherapy are the factors expected to restrain the market growth.
