Market Trends of Imatinib Drug Industry
This section covers the major market trends shaping the Imatinib Drug Market according to our research experts:
Application of Imatinib Drug in Chronic Eosinophilic Leukemia Segment is expected to Witness a Healthy Growth.
Chronic eosinophilic leukemia will show healthy growth in the future attributing to the increasing prevalence of cancers. Chronic eosinophilic leukemia (CEL) is a disorder in which eosinophil count is greater than 1500 µl in peripheral blood also called hyper-eosinophilia. It is a rare myeloproliferative neoplasm, overproduction of eosinophils in the bone marrow. This imatinib drug helps in treating the disorder by stopping the tyrosine kinase enzyme which blocks the abnormal eosinophils. Imatinib drug is more beneficial in patients who have leukemia from a genetic mutation. Moreover, Imatinib drug also helps in improving blood counts and symptoms very fast which makes this drug highly adopted by the targeted patient pool and promotes the revenue growth of the imatinib drug market.
Gastrointestinal Stromal Tumors (GIST) is also showing a significant share as this is a type of tumor that arises in the gastrointestinal tract (stomach and small intestine). Imatinib has been the first-line therapy for GIST. The drug targets KIT and PDGFRA (platelet-derived growth factor receptor A) proteins blocking the growth of tumor cells.
In addition, incidences of leukemia worldwide leading to high demand of imatinib drug to treat the disorder and promotes the growth of market
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global Imatinib Drug Market due to increasing incidences of cancer and growing healthcare concern. As per the National Cancer Institute, in 2018 an estimate of 1.7 million new cases of cancer was diagnosed wherein these drugs were used and thus promoting the growth of the imatinib drug market. Moreover, R&D expenditure in healthcare (oncology) is also anticipated to propel the growth of the imatinib drug market in North America. Furthermore, increasing healthcare expenditure and the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
