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Chronic Myeloid Leukemia (CML) Treatment Market is Reached USD 2.8 billion by 2019

Summary

The latest market report published by Acute Market Reports “Global Chronic Myeloid Leukemia (CML) Treatment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2019 – 2029,” the chronic myeloid leukemia (CML) treatment market was valued at USD 2.8 billion in 2019 and […]

The latest market report published by Acute Market Reports “Global Chronic Myeloid Leukemia (CML) Treatment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2019 – 2029,” the chronic myeloid leukemia (CML) treatment market was valued at USD 2.8 billion in 2019 and is expected to grow at a CAGR of 4% from 2021 to 2029.

Browse the full report Chronic Myeloid Leukemia (CML) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2019 – 2029 at https://www.acutemarketreports.com/report/chronic-myeloid-leukemia-cml-treatment-market

Market Insights 

According to Leukemia Foundation, chronic myeloid leukemia (CML) is a type cancer that affects the blood and bone marrow. In CML the bone marrow creates too many white cells or granulocytes which progressively swarm the bone marrow, interfering with blood cell production. This bone marrow spills out and is left to circulate in the bloodstream. This leaders to easy bruising, bleeding and anemia as there is shortage of red cells and platelets. 

The number of people to be diagnosed with CML across the globe is expected to reach 144000 by 2030.There has been a significant advance in the CML treatment regime in the last two decades. There has been significant increase in number of new drugs approvals for CML treatment. New drug class that has transformed the treatment of CML includes tyrosine kinases (TKIs) or BCR-ABL inhibitors. They are crucial element in CML treatment. First generation imatinib and more efficient second generation BCR-ABL inhibitor nilotinib and dasatinib, with ponatinib and bosutinib have been approved for commercialization. Some studies identified that nilotinib and dasantinib were more effective han imatinib in first line chronic phase CML. This offered better results and a better and rapid response.  

North America was observed as the largest CML treatment due to factors such as rising diagnosis rate in patients suffering from cancer, rising awareness in CML patients related to novel drug treatments and highest yearly treatment price compared to others regions. According to Cancer.net, about 10% of all leukemia is CML. In 2019, around 8,220 people (4,610 men and 3,610 women) in the United States were diagnosed with CML. Most of these were adults, with an average age of diagnosis at 64 years. It is estimated that 1,070 deaths (570 men and 500 women) occurred this year. The American Cancer Society’s estimates that in year 2016, about 8,220 new cases will be diagnosed with CML (4,610 in men and 3,610 in women), and about 1,070 people will die of CML (570 men and 500 women). Thus, North America is expected to retain its domination in the near future. 

North America was the market leader for CML treatment market in 2019. The key determinants were high awareness leading to early diagnosis, well developed healthcare set up and supportive reimbursement scenario, rapid drug approval and accessibility to novel targeted drug therapies. Of the total patients of 8450 who were diagnosed in 2019, 4,970 were men and 3,480 were women. Out of 1130 deaths in 2020, 670 were men and 460 were women. There has been significant development in CML treatment regime in the last decade. For instance in 2012 USFDA approved 3 drugs including bosutinib, ponatinib, and omacetaxine. Similarly in 2013 three more key drugs were approved namely ponatinib, omacetaxin, and bosutinib. The key challenge to receive treatment is the affordability of drugs. The prices are significantly high and this limits the accessibility to high priced drugs in developing economies. Therefore this limits the growth of CML treatment. However, newer drugs approvals and government initiatives to make treatment affordable, emergence of crowd funding for treatment is expected to boost the market growth during the forecast period on 2021 to 2029.   The key companies in this market include are Novartis AG, Bristol-Myers Squibb, Teva Pharmaceuticals Industries Ltd., ARIAD Pharmaceuticals, Inc., Pfizer, Inc., Hospira, Inc., Prism Pharmaceuticals, Incyte Corporation, Bio-Path Holdings, Stragen Pharma SA, Otsuka Pharmaceutical Co., Ltd. and others. 

Key Market Movements: 

  • Targeted therapy contributed highest to the market revenues for CML treatments market in 2019. The key driver included increasing level of efficiency with newer drug options, supporting insurance framework, increasing awareness among patients for early diagnosis and targeted therapy.
  • North America was the market leader for CML treatment market in 2019. The key determinants were high awareness leading to early diagnosis, well developed healthcare set up and supportive reimbursement scenario, rapid drug approval and accessibility to novel targeted drug therapies.
  • Imatinib is efficient however second and third generation therapies are recommended for patients Imatinib remains ineffective.

 

 

Key questions answered in this report

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