Zion Market Research has published a new report titled “Leukemia Therapeutics Market by Type (Acute, Chronic and other), Therapy (Chemotherapy, Biological Therapy, Radiation Therapy, Targeted Therapy and Others) and Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022”. According to the report, global leukemia therapeutics market was valued at approximately USD 9.44 billion in 2016 and is expected to generate revenue of around USD 11.97 billion by end of 2022, growing at a CAGR of around 4.1% between 2017 and 2022.
Leukemia is cancer of the blood cells. Blood cells are red blood cells (RBC or erythrocyte), white blood cells (WBC or leukocyte) and platelets (thrombocytes). Most blood cells are generated in the bone marrow from hematopoietic stem cells (HSCs) and undergo maturation process called hematopoiesis. Hematopoietic stem cells give rise to both myeloid and lymphoid lineage cells and are capable of forming all three types of blood cells. In leukemia, immature blood cells undergo abnormal growth, forming a high number of cancerous cells called blasts. White blood cells are the most common type of blood cell to become cancer. Leukemia can be acute or chronic. Fast-growing cancer which worsens quickly as acute whereas slower-growing cancer that worsens slowly over time is chronic. Mainly there are four types of leukemia as chronic lymphatic leukemia, chronic myeloid leukemia, acute lymphatic leukemia and acute myeloid leukemia.
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As per World Cancer Research Fund International, 352 cases of leukemia were diagnosed per 1000 people, in 2012. As per National Cancer Institute, the numbers of expected new cases of leukemia in the US for 2016 are about 60,000 and about 24,000 estimated deaths. Approximately 1.5 percent of men and women will be diagnosed with leukemia at some point during their lifetime, based on 2011-2013 data. An estimated 1,185,053 people in the US are either living with or are in remission from, leukemia, lymphoma or myeloma. Treatment for leukemia depends on the type of blood cell affected and whether the leukemia is acute or chronic.
Novel drug discovery approaches and the need for early diagnosis along with growing incidence rate of target disease are expected to be the major drivers for the global leukemia therapeutics market. In addition, rising aging population base will surge the drug market worldwide in the coming years. However, the high price of a treatment therapy and lack of early detection techniques and awareness may pose the challenge to leukemia therapeutics market. Government funding and increasing healthcare expenditure across the globe are expected to act an opportunity for leukemia therapeutics market in near future.
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Based on the type, leukemia therapeutics market has been segmented into acute leukemia, chronic leukemia, and others. Acute leukemia segment is subdivided into acute lymphatic leukemia and acute myeloid leukemia whereas chronic leukemia is sub-segmented as chronic lymphatic leukemia and chronic myeloid leukemia. The market is segmented into chemotherapy, biological therapy, radiation therapy, targeted therapy and other based on therapy. Based on geography, leukemia therapeutic market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
North America is expected to remain the dominant region over the forecast period. High prevalence of target disease in this region and increasing healthcare awareness is expected to boost the market in this region. Europe was the second largest market followed by Asia-Pacific. Asia-Pacific is expected to show fastest growth rate during the forecast period. The Middle East and Africa, and Latin America are also expected to experience noticeable growth in the years to come.
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Some of the key players in leukemia therapeutics market include F. Hoffmann-La Roche Ltd., Amgen, Bristol-Myers Squibb, Novartis International AG., Pfizer, Teva Pharmaceuticals, GlaxoSmithKline plc., Genzyme Corporation, AbbVie Inc. and ARIAD Pharmaceuticals, Inc. among others.
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