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Acute Myeloid Leukemia Market Report 2024 - Market Share Analysis And Trends
Acute Myeloid Leukemia Global Market Report 2024
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According to The Business Research Company's, The acute myeloid leukemia market size has grown strongly in recent years. It will grow from $2.21 billion in 2023 to $2.39 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to growth aging population, environmental factors, genetic predisposition, limited treatment options, medical advancements.
The acute myeloid leukemia market size is expected to see strong growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growing advancements in targeted therapies, immunotherapies development, precision medicine approaches, increased awareness and early detection, collaborative research initiatives. Major trends in the forecast period include emphasis on minimal residual disease monitoring, integration of artificial intelligence (ai) in treatment decision support, focus on supportive care and quality of life interventions, collaborative research initiatives and clinical trials, patient advocacy and empowerment programs.
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Market Drivers and Trends:
The increase in the older population base and growing unmet healthcare needs is expected to propel the growth of the acute myeloid leukemia market over the coming years. The geriatric population and growing unmet healthcare are defined as the elderly population, people aged 65 and over suffering from health issues like acute myeloid leukemia. For instance, according to the American Cancer Society USA (ACS), a nationwide voluntary health organization, in 2022, AML was commonly found in elderly people with an average age at diagnosis being 68, and survival of elderly AML patients remained remarkably low. It affected approximately 60,650 people in 2022 and caused 24000 deaths. Therefore, the geriatric population base and growing unmet healthcare needs drive the gelatin market.
Growing investments in R&D using the pharmaceutical groups are a key trend gaining popularity in the acute myeloid leukemia market. R&D is used to develop new and improved products and services to fulfill the needs of drug development. For instance, in May 2022, according to National Library of Medicine, a US-based national medical library, a study with the title 'Daunorubicin or Idarubicin With Cytarabine Plus Quizartinib vs. Physician's Choice in Newly Diagnosed FLT3-ITD+ AML (Q-SOC)' is in Phase III of clinical trials. It commenced in November 2021 and is expected to conclude by March 2025.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche AG, AbbVie Inc., Novartis AG, Sanofi-Aventis (Genzyme Corporation), Bristol Myers Squibb Company, GlaxoSmithKline plc, Takeda Pharmaceuticals, Amgen Inc., Otsuka Holdings Co. Ltd., Teva Pharmaceutical, Celgene Corporation, Astellas Pharma, Servier Pharmaceuticals, CSPC Pharmaceutical Group, Genmab AS, Zhejiang Medicine Co. Ltd., Syndax Pharmaceuticals Inc., Astex Pharmaceuticals Inc., MEI Pharma Inc., SELLAS Life Sciences Group, Ambit Biosciences Corporation, Agios Pharmaceuticals Inc., Neomed Management AS, Oncolyze Inc., TC BioPharm, VERASTEM INC., Mirati Therapeutics Inc., Sunshine Lake Pharma, Sunesis Pharmaceuticals Inc.
Acute Myeloid Leukemia Market 2024 Key Insights:
• The acute myeloid leukemia market size is expected to see strong growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Geriatric Population And Unmet Healthcare Needs Fuel Growth In Acute Myeloid Leukemia Market
• Innovative Research And Development Initiatives Transforming The Acute Myeloid Leukemia Market
• North America was the largest region in the acute myeloid leukemia market in 2023
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