Market Trends of Chronic Myelogenous Leukemia Treatment Industry
This section covers the major market trends shaping the Chronic Myelogenous Leukemia Treatment Market according to our research experts:
The Chemotherapy Segment is Expected to Witness Significant Growth Over the Forecast Period
Chemotherapy or chemo is a type of cancer treatment where one or more anti-cancer medications are used as part of a regular chemotherapy program. In simple terms, the application of anti-cancer medications is known as chemotherapy. The anti-cancer drugs are generally injected into a vein or taken by mouth. These drugs enter the bloodstream and reach all areas of the body and are useful for cancers like chronic myeloid leukemia (CML). With the increasing prevalence of CML among the target population globally, the demand for chemotherapy is increasing.
According to Piedmont Healthcare, chemotherapy has improved in recent years and in 2022, has been one of the most preferred cancer therapies. Additionally, as per the source above, chemotherapy is one of the best options for cancer treatment because it attacks cancer cells that are visible but can't be removed through surgery or radiation.
Furthermore, chemotherapy is generally used in patients with blast phase disease to get the CML back into the chronic phase. In some cases, the procedure used to get patients ready for an allogeneic stem cell transplant will include very high doses of chemotherapy. There are several medications on the market that can be used as chemotherapy drugs to treat CML. For instance, according to the LLS 2022 update, Omacetaxine mepesuccinate (Synribo) is one of the major products that is approved by the FDA for CML treatment. Thus, the availability of drugs for chemotherapy of CML treatment is anticipated to fuel the segment growth.
Moreover, there are increased research activities to develop more advanced chemotherapy which can offer benefits over conventional chemotherapy. For instance, as per a study published in PMC in July 2022, when patients with haematologic malignancies including CML received chemotherapy and adjuvant sodium selenite (0.2 mg/kg/day) for 7 days, they presented increased apoptosis in lymphoma cells, as measured by flow cytometry, relative to the patients who received only conventional chemotherapy. Thus, these advancements in chemotherapy are anticipated to drive segment growth.
North America is Anticipated to Witness Significant Growth Over the Forecast Period
North America is anticipated to witness growth over the forecast period and dominate the market. Increasing healthcare expenditure, a rising prevalence of CML, and the rising geriatric population across the region are the primary drivers for the CML treatment market in the region.
Among other countries in the region, the United States is expected to hold the highest market share during the forecast period. CML affects the bone marrow and blood; during that time, the bone marrow overproduces granulocytes, a type of white blood cell. According to research and various sources, CML is a rare form of adult leukemia, which is higher in older adults because their ability to fight infection reduces with age. The data updated by the ACS in January 2022 indicated that nearly 8,860 new cases of CML were expected to be diagnosed in 2022 in the United States.
In addition, the source mentioned above stated that nearly 15% of all new cases of leukemia are CML, where approximately 1 in 526 persons is estimated to get CML in their lifetime in the United States. Data updated in February 2022 by HHS shows that the population in the United States is aging unprecedently and the population aged 65 or older in the country is projected to reach 23.5% (98 million) by 2060. With the increasing geriatric population in the country, the risk of CML is also rising. This is expected to generate demand for drugs and therapy for the treatment of the disease.
Moreover, the increasing development of various treatment options in the country is anticipated to drive market growth over the forecast period. For instance, in October 2021, Scemblix (asciminib) developed by Novartis AG for the treatment of chronic myeloid leukemia (CML) in two distinct indications received FDA approval. Scemblix is the first FDA-approved CML treatment that works by binding to the ABL myristoyl pocket and represents an important development for patients who experience resistance and/or intolerance to currently available tyrosine kinase inhibitor (TKI) therapies. Such developments in the country are increasing the focus of the market players toward innovations. This is expected to cater to the market growth, further impacting the overall market growth in the region.
