Leukemia Therapeutics Market to Display 8.1% CAGR till 2027; Rising Number of Regulatory Approvals for Immunotherapies to Stimulate Market Innovation

The global leukemia therapeutics market size is projected to reach USD 27.78 billion by 2027 owing to the extensive adoption of injectable cancer medications and treatments, shares Fortune Business Insights™ in its report, titled “Leukemia Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Type of Leukemia (Chronic Myeloid Leukemia (CML), Chronic Lymphocytic Leukemia (CLL), Acute Lymphocytic Leukemia (ALL), Acute Myeloid Leukemia (AML), and Others), By Treatment Type (Chemotherapy, Targeted Therapy, Immunotherapy, and Others), By Route of Administration (Oral Mode and Injectable Mode), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, and Others), and Regional Forecast, 2020-2027”. The report states that the value of the market was USD 15.21 billion in 2019 and the market is expected to register a CAGR of 8.1% from 2020 to 2027.

However, the growth of this market declined to a 6.2% CAGR and its value fell to USD 16.15 billion in 2020 on account of the COVID-19 pandemic. The pharmaceutical supply chain disruptions and staggered production of treatments and drugs due to lockdowns and social distancing induced by the pandemic are primary reasons for the low growth of the market in 2020. On the flip side, with cancer patients being highly vulnerable to the worst effects of the coronavirus, the demand for leukemia therapeutics has spiked amid the current crisis.

Shilpa Medicare Introduces Anti-Cancer Drug in India

In May 2020, Karnataka-based Shilpa Medicare announced the launch of the Indian branded generic ibrutinib, an anti-cancer drug under the name IBRUSHIL. The medication has been formulated to treat patients with mantle cell lymphomas (MCL), chronic lymphocytic leukemia (CLL), and other related cancers. The novel drug has been proven to attack cancer cells exclusively, without causing much damage to healthy cells, thus leading to fewer and less intense side effects normally associated with leukemia therapeutics. Furthermore, the drug needs to be taken only once daily, thereby eschewing the need for multiple injections that cancer patients are usually subjected to during the course of their treatment.

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https://www.fortunebusinessinsights.com/leukemia-therapeutics-market-104754

Increasing Prevalence of Leukemia to Accelerate Market Growth

Leukemia is a type of blood cancer, characterized by a sudden proliferation of white blood cells (WBCs) in the body. This abnormal multiplication of WBCs in the body eventually leads to a drop in regular blood cells, causing a series of complications for the patient. The incidence of this blood cancer is rising around the globe, which is the main factor driving the demand for leukemia therapeutics. According to the International Agency for Cancer Research (IARC), worldwide, the number of new leukemia cases in 2020 stood at 474,519, while the number of leukemia deaths was 311,594. In the US, the Leukemia and Lymphoma Society estimated that 60,530 new leukemia cases will emerge in 2020 and at present, approximately 376,508 people living with or in remission from leukemia in the country. The increasing prevalence of the disease, and the critical need to manage it efficiently amid the current COVID-19 pandemic, will bolster the leukemia therapeutics market growth in the near future.

Key Players to Concentrate Energies on Securing Regulatory Approvals

Leading companies in this market are making huge investments in research & development activities and enhancing clinical trials to secure clearances from regulatory bodies such as the US Food and Drug Administration (FDA). These investments are enabling players to come up with inventive leukemia therapeutics for treating different types of leukemia and deepen their market presence.

Industry Development:

• November 2018: Pfizer received the green light from the US FDA for Daurismo, its drug to treat acute myeloid leukemia (AML) in adults aged 75 years and above. The approval allows Pfizer to launch the drug in the United States as a combination therapy.

List of Key Players Profiled in this Market Report:

• Takeda Pharmaceutical Co Ltd (Tokyo, Japan)
• Bristol-Myers Squibb (New York, U.S.)
• AbbVie (North Chicago, U.S.)
• Lupin Ltd. (India, Mumbai)
• Pfizer Inc. (New York, U.S.)
• Sanofi/ Genzyme Corporation (Paris, France)
• F. Hoffmann-La Roche (Basel, Switzerland)
• Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
• Amgen Inc. (Thousand Oaks, U.S.)
• Novartis (Basel, Switzerland)

Further Report Findings:

• The chemotherapy segment is set to lead the market during the forecast period as chemo drugs are the first line of treatment recommended for almost all types of cancers.
• North America is slated to command the leukemia therapeutics market share as the region is home to a large number of big pharmaceutical companies that are constantly engaged in developing advanced therapies for blood cancers. The region’s market size stood at USD 6.92 billion in 2019.

Table of Segmentation