Market Size of Chronic Myelogenous Leukemia Treatment Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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.
Chronic Myelogenous Leukemia Treatment Industry Segmentation
Chronic myelogenous leukemia, also known as chronic myeloid leukemia (CML) is a type of cancer that starts in the blood-forming cells of the bone marrow and invades the blood. The Chronic Myelogenous Leukemia Treatment Market is segmented by Treatment Type (Targeted therapy, Chemotherapy, Biologic Therapy, and Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Treatment Type | |
| Targeted therapy | |
| Chemotherapy | |
| Biologic therapy | |
| Other Treatment Types |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Chronic Myelogenous Leukemia Treatment Market Size Summary
The chronic myelogenous leukemia (CML) treatment market is poised for steady growth, driven by increasing awareness and the rising incidence of the disease globally. The market experienced an initial setback due to the COVID-19 pandemic, which affected treatment procedures as CML patients, being immunocompromised, were at higher risk. However, as the situation normalized, treatment activities resumed, and major players continued their development efforts. The geriatric population, particularly those aged 65 and older, is more susceptible to CML, and their growing numbers are expected to significantly impact market dynamics. The focus on research and development by regional and global players is centered on innovation and product launches, which are anticipated to enhance product availability and competition, thereby fueling market expansion.
North America is expected to dominate the CML treatment market, with the United States leading due to its aging population and increasing healthcare expenditure. The market is moderately competitive, with major companies like Bristol-Myers Squibb, Novartis AG, and Pfizer Inc. playing significant roles. The development of new treatment options, such as Scemblix, which received FDA approval, highlights the ongoing innovation in the sector. Despite challenges like chemotherapy side effects and stringent drug regulations, the market is set to grow, supported by advancements in treatment options and a focus on addressing the needs of patients resistant to existing therapies.
Chronic Myelogenous Leukemia Treatment Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 High Incidence and Prevalence of Chronic Myeloid Leukemia
-
1.2.2 Advancement in Drug Development
-
1.2.3 Increasing Investments in Research and Development
-
-
1.3 Market Restraints
-
1.3.1 Side effects Associated with Chemotherapy
-
1.3.2 Stringent Regulations on Drugs
-
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD million)
-
2.1 By Treatment Type
-
2.1.1 Targeted therapy
-
2.1.2 Chemotherapy
-
2.1.3 Biologic therapy
-
2.1.4 Other Treatment Types
-
-
2.2 Geography
-
2.2.1 North America
-
2.2.1.1 United States
-
2.2.1.2 Canada
-
2.2.1.3 Mexico
-
-
2.2.2 Europe
-
2.2.2.1 Germany
-
2.2.2.2 United Kingdom
-
2.2.2.3 France
-
2.2.2.4 Italy
-
2.2.2.5 Spain
-
2.2.2.6 Rest of Europe
-
-
2.2.3 Asia-Pacific
-
2.2.3.1 China
-
2.2.3.2 Japan
-
2.2.3.3 India
-
2.2.3.4 Australia
-
2.2.3.5 South Korea
-
2.2.3.6 Rest of Asia-Pacific
-
-
2.2.4 Middle East and Africa
-
2.2.4.1 GCC
-
2.2.4.2 South Africa
-
2.2.4.3 Rest of Middle East and Africa
-
-
2.2.5 South America
-
2.2.5.1 Brazil
-
2.2.5.2 Argentina
-
2.2.5.3 Rest of South America
-
-
-
Chronic Myelogenous Leukemia Treatment Market Size FAQs
What is the current Chronic Myelogenous Leukemia Treatment Market size?
The Chronic Myelogenous Leukemia Treatment Market is projected to register a CAGR of 5.30% during the forecast period (2024-2029)
Who are the key players in Chronic Myelogenous Leukemia Treatment Market?
Bristol-Myers Squibb Co, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd and Novartis AG are the major companies operating in the Chronic Myelogenous Leukemia Treatment Market.
