(PharmaNewsWire.Com, August 02, 2021 ) Acute Myeloid Leukemia Therapeutics market size is forecast to reach $18.3 billion by 2026, growing at a CAGR of 7.2% during the forecast period 2021-2026. Leukemia affects the white blood cells and bone marrow. It is characterized by the rapid increase of abnormal blood cells growth that reduces the numbers of fully modified blood cells which leads to the typical symptoms of anemia, bleeding, and high risk of infection. Leukemia can grow along the lymphoid stem cell lines or myeloid depending upon the epigenetic and genetic mutations of the pluripotent stem cells. The leukemia that occurs along the myeloid are known as acute myeloid leukemia and it is a serious condition that is suffered by adult people. Various types of treatments that includes cytarabine, mitoxantrone, tyrosine kinase inhibitors, and imatinib among others are used for acute myeloid leukemia therapeutics. Increasing prevalence of acute myeloid leukemia and increased drug approval rate for acute myeloid leukemia are the major factors driving the growth of the market. Large number of treatment options available for treatment of acute myeloid leukemia and increasing funding for cancer research & development of new therapies is set to further enhance the overall market development of the Acute Myeloid Leukemia Therapeutics Market for the period 2021-2026.
Acute Myeloid Leukemia Therapeutics Market Segment Analysis – By Treatment Type
Cytarabine held the largest share in the Acute Myeloid Leukemia Therapeutics Market in 2020 and is estimated to grow at a CAGR 7.7% during the forecast period 2021-2026. Cytarabine is used for the treatment of different types of leukemia such as acute and chronic myeloid leukemia among others. Owing to its effectiveness in the treatment of acute myeloid leukemia, it is being widely used during chemotherapy process. Macmillan Cancer Support, an organization that is working for cancer have stated that cytarabine is more effective for the treatment of acute myeloid treatment. Chemotherapy kills the cancer cells that metastasized across the different parts of the body. Cytarabine is estimated to register the highest CAGR over the period 2021-2026.
Acute Myeloid Leukemia Therapeutics Market Segment Analysis – By End User
Hospitals held the largest share in the Acute Myeloid Leukemia Therapeutics Market in 2020 and is estimated to grow at a CAGR 7.4% during the forecast period 2021-2026. Chemotherapy is majorly used for consolidation therapy of acute myeloid leukemia. In hospitals, younger adults are given mainly four rounds of high or immediate dose of cytarabine at monthly intervals and several different regimes are used for older patients. Chemotherapy is usually given in the hospital and recovery time can be spent at home. Hospitals are estimated to register the highest CAGR over the forecast period 2021-2026.
Acute Myeloid Leukemia Therapeutics Market Segment Analysis – By Geography
North America dominated the Acute Myeloid Leukemia Therapeutics Market with a major share of 38.3% in 2020. This is attributed to the increasing research in the field of regenerative medicine for treatment of acute myeloid leukemia. Growing awareness on personalized medicine, high incidences of leukemia, and huge investment in the development of pipeline drug is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the rising investment and increasing cancer awareness. Improving healthcare infrastructure and increasing inclination towards targeted therapies is also increasing the growth of the market in this region.
Increasing prevalence of acute myeloid leukemia is increasing the growth of the Acute Myeloid Leukemia Therapeutics Market. Acute Myeloid Leukemia begins in the bone marrow and quickly moves into the blood. It can also spread to other parts of the body such as liver, spleen, testicles, and central nervous system. It develops from those cells that turns into white blood cells. Radiation therapy or surgery in cancer patients removes the cancer cells in a specific area but chemotherapy works through the body and gives a better result. According to the estimation done by The American Cancer Society, around 61,780 new cases and 22,840 deaths from leukemia has been reported in 2019.Thus, increasing the growth of the Acute Myeloid Leukemia Therapeutics Market during the forecast period 2021-2026.
Increasing Cancer Awareness
Increasing cancer awareness is increasing the growth of the Acute Myeloid Leukemia Therapeutics Market. This is attributed to the fact that according to the World Health Organization, one third of all cancers are preventable and this can be done by taking a free cancer risk test that identifies the behaviors that can lead to cancer and ways to reduce the risk. As of 2019, 16.9 million cancer survivors are there in U.S. and number of cancer survivors are set to increase to 22.2 million by 2030.Thus, increasing the growth of the Acute Myeloid Leukemia Therapeutics Market during the forecast period 2021-2026.
High Cost of the Therapeutics Process and its Safety Concerns
Some of the factors that are set to impede the growth of the Acute Myeloid Leukemia Therapeutics Market are high cost of the therapeutics process and its safety concerns. Lack of targeted therapies in current acute myeloid leukemia therapeutics and difficult approval process for drugs is also set to hinder the growth of the market during the forecast period 2021-2026.
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Acute Myeloid Leukemia Therapeutics Market. In 2020, the Acute Myeloid Leukemia Therapeutics Market share is consolidated by the top ten players present in the market. Acute Myeloid Leukemia Therapeutics Market, top 10 companies are Pfizer Inc., Eisai Inc., Cephalon Inc., Celegene Corporation, Bristol,, Novartis AG, Genzyme Corporation, Eli Lily & Company, Amgen, and Gilead Sciences among others.
Key Takeaways
North America dominated the Acute Myeloid Leukemia Therapeutics Market in 2020 owing to the increasing research in field of regenerative medicine for treatment of acute myeloid leukemia and growing awareness on personalised medicines. The Acute Myeloid Leukemia Therapeutics Market scope for different regions will be provided in the final report.
Increasing advantages of biopharmaceuticals over conventional medicines and strong biopharmaceuticals pipeline are likely to aid the market growth of the Acute Myeloid Leukemia Therapeutics Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Acute Myeloid Leukemia Therapeutics Market report.
High cost of the therapeutics process and its safety concerns is poised to create hurdles for the Acute Myeloid Leukemia Therapeutics Market.
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