Market Size of Global Leukemia Therapeutics Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Leukemia Therapeutics Market Analysis
The Leukemia Therapeutics Market is expected to register a CAGR of 5.5% over the forecast period.
Because most elective treatments were postponed due to the COVID-19 pandemic, treatment of hematologic malignancies was also impacted significantly.However, delayed treatment is not recommended for severe diseases, especially acute leukemia, and thus, necessary guidelines and measures were put forth recently to allow leukemia treatments during the pandemic with all protective measures. As per the study published in December 2021 by the National Library of Medicine, there were 4.1 million cancer-related encounters, 3.9 million relevant procedures, and 251,647 new cancer cases diagnosed. Compared to the annual averages in 2018 through 2019, colonoscopies in 2020 decreased by 45%, whereas prostate biopsies, chest computed tomography scans, and cystoscopies decreased by 29%, 10%, and 21%, respectively. New cancer diagnoses decreased by 13% to 23%. However, the market growth is stabilizing in the current scenario after COVID-19 as the worldwide restrictions have eased and disease screening services have been resumed.
The leukemia therapeutics market is mainly driven by a rise in the prevalence of leukemia, a surge in awareness related to early detection and treatment of leukemia, and rising investment in the healthcare sector. A significant number of the population across the globe suffers from leukemia. For instance, as per the statistics by GLOBOCAN 2020, leukemia accounted for 475,000 cases for both sexes of all ages in 2020; these cases are expected to increase and reach up to 692,000 by 2040, worldwide. In addition, as per the 2021 statistics from the Leukemia & Lymphoma Society, an estimated 397,501 people were living with or in remission from leukemia in the United States. Hence, the overall statistics show that there is a huge number of people that suffer from leukemia, which is expected to boost the growth of the market in the forecast period.
Furthermore, the increasing number of investments being made in research and development has enabled several pharmaceutical and biotechnology companies to focus on and develop novel and effective drugs. For instance, in April 2021, the Leukemia & Lymphoma Society Therapy Acceleration Program (LLS TAP) reported five new investments aimed at speeding up the development of new and improved immunotherapies for the treatment of blood cancers in the United States. Over the past few decades, the LLS has spent more than $100 million on grants and TAP investments to move forward innovative ways to use cellular immunotherapies to fight blood cancers.
Additionally, in May 2022, Servier received US FDA approval for TIBSOVO (ivosidenib tablets) in combination with azacitidine for the treatment of patients with newly diagnosed IDH1-mutated acute myeloid leukemia (AML) in adults 75 years of age or older, or who have comorbidities that preclude the use of intensive induction chemotherapy. Moreover, in March 2022, Sumitomo Dainippon Pharma Oncology, Inc. will dose patients in a Phase I/II study of DSP-5336, an inhibitor of melanin binding to mixed-lineage leukemia (MLL) proteins, in patients with relapsed or refractory acute myeloid leukemia (AML) or acute lymphoblastic leukemia (ALL). Thus, increasing clinical trials by the key players is expected to boost the growth of the market over the forecast period.
As a result of the aforementioned factors, the market is expected to grow. However, the high treatment costs and stringent regulatory environment restrained market growth over the forecast period.
