Chronic Myelogenous Leukemia Treatment Market Size

Chronic Myelogenous Leukemia Treatment Market Analysis

The chronic myelogenous leukemia (CML) treatment market is expected to register a CAGR of 5.3% over the forecast period.

The initial impact of the pandemic on the studied market was considered adverse, owing to the decrease in procedures during that phase. CML patients possess a weakened immune system; thus, they were at risk of COVID-19 infection during the initial phase of the pandemic. As a result, various studies were conducted to determine the impact of COVID-19 on CML patients. According to research data published in the Cureus Journal of Medical Science (Cureus) in April 2022, immunocompromised patients, including those with hematologic malignancies such as patients with CML who needed hospitalization and COVID-19 infection, were linked to worse outcomes. Such instances created a demand for CML drugs and therapies during the pandemic. In addition, in the current times where everything is normalized despite COVID-19, the treatments for CML patients are smoothly ongoing, and development activities by major players are also proceeding at a steady pace.

The burden of chronic myelogenous leukemia (CML) among the global population is expected to be the major driving factor for the chronic myelogenous leukemia treatment market as awareness about the disease is increasing among people. For instance, as per the June 2022 research study by the American Journal of Hematology, the global incidence of CML is about 1-2 cases per 100,000 population. Further, as per the ACS 2022 report, approximately 15% of all leukemia cases are CML and it primarily affects adults, and the average diagnosis age of CML is about 64 years with the majority of cases being diagnosed in people of age 65 years and older. It can be said that the geriatric population is more susceptible to this disease and their growing population is further expected to have a significant impact on the market.

Furthermore, the regional and global market players focus more on research and development (R&D) in CML treatment. This focus on R&D is mainly centered on product development, innovation, and launches, which are expected to increase product availability and competition in the market, which is predicted to boost the market growth. For instance, in August 2022, Scemblix developed by Novartis AG was approved by the European Commission for adult patients with CML, offering a new treatment approach for patients with intolerance to other therapies.

Factors such as growing awareness among the target population about CML and increasing product development by market payers will pave the way for the studied market to witness growth over the forecast period. However, the side effects associated with chemotherapy and the stringent drug regulations can stand in the way of this growth.