Chronic Lymphocytic Leukemia Treatment Market to Expand at a Healthy CAGR of 19% by 2023
As per the data experts at Market Research Future (MRFR), the chronic lymphocytic leukemia treatment market was worth USD 7.9 Billion in 2017. Additionally, the market is expected to expand at a growth rate of 19% over the forecast period (2018-2023).
Market Drivers and Key Challenges
Chronic lymphocytic leukemia is considered to be one of the most common types of leukemia in adults. This type of cancer involves the development of lymphocytes, which are white blood cells, within the bone marrow. The lymphocytic leukemia cells are generally present in the lymph nodes along with various other tissues. There are two primary types of chronic lymphocytic leukemia, wherein one grows slowly, and the other is considered fatal. In general, one does not experience any symptoms due to chronic lymphocytic leukemia for a long period. However, the symptoms usually noted include fatigue, easy bruising, and swollen lymph nodes.
Generally, the most popular form of treatment for CLL is chemotherapy, whereas stem-cell transplant is for rare cases. An article published by Apollo Hospitals states that in India, roughly one million cases of chronic lymphocytic leukemia are diagnosed annually. As per the cancer statistics, 1 in every 155 men and 1 in every 260 women get affected with CLL in their lifetime, in the United Kingdom (U.K). The boost in cancer cases around the world, innovations in drug therapy, quick regulatory approval processes, and vigorous pipeline of drugs for chronic lymphocytic leukemia treatment are additional factors substantiating the growth of the chronic lymphocytic leukemia market.
Having said that, the stunted level of awareness with regard to symptoms is expected to retard the market growth in the forthcoming years. However, growing research & development activities coupled with continuous technological developments in the field is presumed to augment the market growth to a large extent.
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The global chronic lymphocytic leukemia treatment market has been segmented on the basis of type, treatment, and end user.
The market, in terms of the type, has been considered for indolent CLL and aggressive CLL.
The market, treatment-wise, can be broken down into chemotherapy, targeted drug therapy, immunotherapy, and bone marrow transplant.
The end users in the global market are hospitals & clinics, diagnostic laboratories, research institutes, and others.
The prominent vendors within the worldwide chronic lymphocytic leukemia treatment market include Teva Pharmaceutical Industries Ltd., Novartis AG, AstraZeneca, Genmab A/S, TG Therapeutics, Inc., Ziopharm Oncology, F. Hoffmann-La Roche Ltd, AbbVie Inc., Genentech, Inc., Gilead, Genzyme Corporation, ONO PHARMACEUTICAL CO., LTD., GlaxoSmithKline plc, CELGENE CORPORATION, Inc., Johnson & Johnson Services, Inc., and others.
The chronic lymphocytic leukemia treatment market is set to expand in the region of Europe, Asia Pacific, America, and the Middle East & Africa during the assessment period.
Following a meticulous analysis of the global trends, the Americas has been identified as the leading region in the chronic lymphocytic leukemia treatment market. The increasing prevalence of leukemia, as well as the presence of prominent vendors within the region, are the main factors responsible for the strong performance of the market. In 2018, a report published by the Leukemia & Lymphoma Society stated that every 3 minutes, an individual in the United States (US) gets diagnosed with blood cancer or leukemia.
Europe has managed to seize the second largest share of the global chronic lymphocytic leukemia treatment market. Sound healthcare infrastructure, massive healthcare spending, high awareness levels with regard to relapse of Chronic Lymphocytic Leukemia (CLL) as well as related treatments, availability of reimbursement policies, use of advanced healthcare tools and the growing adoption rate of latest techniques in practice are few lucrative factors steering the CLL treatment market towards greater heights.
With the hike in the research and development activities and the presence of profitable small markets like India, Japan, China, Australia, Republic of Korea, the Asia Pacific market is expected to expand further in the subsequent years. The region is also predicted to grow at the fastest rate, backed by factors like the growing prevalence of leukemia combined with the consequently surging demand for treatment of CLL in the region. The 2017 report furnished by the World Health Organization (WHO) suggests that at least 8,904 leukemia deaths have been reported in Japan that year, indicating the rising number of cases within the region.
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The most abysmal performance has been showcased by the Middle East & Africa, having managed to acquire the least share of the worldwide market. However, the lukewarm growth of the market points towards better prospects in the future, owing to the expanding healthcare infrastructure.
• May 2019: Venetoclax (Venclexta, AbbVie, and Genentech) along with Obinutuzumab (Gazyva, Genentech) has been granted FDA approval for untreated chronic lymphocytic leukemia (CLL). Venclexta, as well as Gazyva, is considered to be the only chemotherapy-free option for providing favorable responses to aid the patients in living longer and curbing the progression of CLL as well.
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