Leukemia Therapeutics Market Size, Growth, Trends Report 2024: Projected USD 27.28 Billion by 2031

Leukemia Therapeutics Market Poised For Growth Despite Challenges: Increased Awareness And Novel Therapies Key Drivers

AUSTIN, TEXAS, UNITED STATES, June 14, 2024 /EINPresswire.com/ -- According to SNS Insider, the Leukemia Therapeutics Market size is projected to be worth around USD 27.28 Billion by 2031 from USD 16 Billion in 2023, growing at a CAGR of 6.9% during the forecast period from 2024 to 2031.

Rising Leukemia Prevalence and Treatment Innovation Fuel Leukemia Therapeutics Market Expansion

The Leukemia Therapeutics Market is poised for growth driven by several factors like there's a rising prevalence of leukemia globally. GLOBOCAN 2020 data shows leukemia cases at 475,000 in 2020 and predicts a rise to 692,000 by 2040. As more people become aware of the importance of early detection and treatment, the market for TNBC treatments is expected to expand.

The market benefits from increasing investments in R&D as pharmaceutical and biotech companies are developing novel and effective drugs. The Leukemia & Lymphoma Society Therapy Acceleration Program (LLS TAP) exemplifies this trend, with its investments in new immunotherapies for blood cancers. Regulatory approvals like Servier's TIBSOVO for IDH1-mutated AML and clinical trials by companies like Sumitomo Dainippon Pharma Oncology further bolster market growth.

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Segments Dynamics
- By Type of Leukemia, Chronic Myeloid Leukemia (CML) dominates this segment due to a high number of treatment options and a rising incidence rate. However, the market is expected to see growth across all types as awareness and treatment options improve.

- By Treatment Type, Targeted drugs & immunotherapy are the fastest-growing segment. Their effectiveness and reduced side effects compared to traditional chemotherapy are driving this rapid growth.

- By Molecule Type, while both small molecules and biologics play a role, the dominance of either is not explicitly mentioned.

- By Mode of Administration, Injectable medications likely dominate due to the nature of many leukemia treatments. However, the potential growth of oral options shouldn't be discounted.

- By Gender, data isn't indicative of a dominating segment, as both males and females are susceptible to leukemia.

Regional Analysis
The Leukemia Therapeutics Market is expected to see North America leading the charge in growth during the forecast period (2024-2031). This dominance stems from a number of factors like the region has witnessed a tremendous upsurge in cell-based research activities, particularly in the promising field of regenerative medicine for leukemia treatment, a growing focus on personalized medicine approaches is creating a more targeted treatment landscape, further fueling market expansion. Furthermore, North America faces a high disease burden with a concerning prevalence and rising incidence of leukemia cases. This significant patient population, coupled with an aging population more susceptible to the disease, creates a strong demand for treatment options. In the US alone, an estimated 381,774 people are living with or in remission from leukemia according to the Leukemia & Lymphoma Society. This underscores the urgent need for progress, and government funding and programs can accelerate advancements in treatment and improve patient outcomes. Canada, for instance, exemplifies this commitment by allocating funds to establish stem cell therapy development facilities. This focus on research and development is expected to further propel market growth in North America.

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Recent Developments

Drug Approvals
• A major breakthrough came in October 2022 with the FDA approval of Quizartinib for treating newly diagnosed adults with a specific form of aggressive leukemia (FLT3-ITD-positive AML).
• November 2022: Brukinsa (zanubrutinib) by BeiGene gets European Council approval for adult patients with chronic lymphocytic leukemia (CLL).

• November 2023 (Breast Cancer):
- Pfizer's Ibrance (palbociclib) targets a specific type of protein (CDK4/6) to treat advanced HER2-positive breast cancer.

- Merck's Keytruda (pembrolizumab) is an immunotherapy drug approved to treat some forms of triple-negative breast cancer.

- Roche's tucatinib (TKI) for HER2-positive advanced or metastatic breast cancer.

Research Advancements

• October 2023: A new study identifies a three-drug combination (PARP inhibitor, CDK4/6 inhibitor, and hormone therapy) effective against advanced breast cancer.

• October 2023: Another study unveils an AI-powered algorithm for more accurate breast cancer recurrence risk prediction.

Positive Trends
• September 2023: The American Cancer Society reports a significant decrease in breast cancer death rate (43% since 1990) and a high five-year survival rate (91%).

Grant Awarded
• September 2023: The National Cancer Institute grants funding for developing a new breast cancer vaccine targeting a specific protein on cancer cells.

Key Insights Of The Leukemia Therapeutics Market
• By understanding the market growth potential and key drivers, they can make informed decisions about investing in the Leukemia Therapeutics Market.

• Insights into dominating and growing segments can guide them in developing and commercializing new leukemia treatment options.

• This report can help to identify potential partners for research collaborations, licensing agreements, or other business ventures in the leukemia therapeutics field.

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List of Leukemia Therapeutics Market Players Profiled
• Abbvie Inc
• Amgen Inc.
• Bristol-Myers Squibb Company
• Eisai Co., Ltd (Japan)
• F. Hoffmann-La Roche Ltd
• Gilead Sciences Inc.
• GlaxoSmithKline plc
• Johnson & Johnson
• Lupin
• Novartis AG
• Pfizer Inc.
• Sanofi
• Takeda Pharmaceutical Company Limited
• Teva Pharmaceutical Industries Limited

Key Market Segmentation
By Type
• Chronic Lymphocytic Leukemia
• Acute Lymphocytic Leukemia
• Chronic Myeloid Leukemia
• Acute Myeloid Leukemia
• Others

By Drug Class
• Targeted Therapy
• Chemotherapy and Immunotherapy

By Distribution channel
• Hospital Pharmacies
• Online Providers
• Drug Store
• Retail Pharmacies

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Akash Anand
SNS Insider Pvt. Ltd
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