Leukemia Therapeutics Market -High cost of drugs and treatments along with large number of entry-to-market barriers are challenges for market Growth

Leukemia is a type of blood cancer resulting in the abnormal production of blood cells, generally leukocytes (white blood cells). These abnormal cells crowd the bone marrow and other organs such as liver, spleen, and kidneys through blood and prevent its normal functions. There are several types of leukemia that appear suddenly and progress rapidly over days to weeks. Others are less apparent and progress slowly over months to years. Leukemia are named according to the type of blood cells involved. The myeloid leukemia are the ones which involve the granulocytes, red blood cells, platelets, and monocytes and lymphocytic leukemia are those which involve lymphocytes. Leukemia is commonly caused due to the high exposure to radiations, unhealthy lifestyle, genetic factors, and environmental conditions. Leukemia cases are more common in adults and are observed to progress with aging. Thus, increasing geriatric population base and high prevalence of leukemia are the factors driving the leukemia therapeutic market. Moreover, increased innovation and R&D in the oncology sectors and growing number of biotechnology firms are also expected to propel the market growth. Increasing awareness of patients regarding most recent technological developments, introduction of novel therapies and promising pipeline products are the factors expected to further drive the market growth during the forecast period. However, high cost of drugs and treatments along with large number of entry-to-market barriers are some of the challenges faced by the leukemia therapeutic market.

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Leukemia therapeutics market can be segmented on the basis of the disease condition, treatment and drugs. Leukemia therapeutic market includes disease such as acute lymphocytic leukemia, chronic lymphocytic leukemia, acute myeloid leukemia, and chronic myeloid leukemia. Chronic myeloid leukemia dominated the overall leukemia therapeutic market owing to high prevalence rate in 2014. Treatment segment includes chemotherapy, radiation therapy, immunotherapy, surgery, targeted therapy, bone marrow transplant, and stem cell therapy. Radiation therapy and chemotherapy treatments were the most popularly used methods for the treatment of leukemia. Chemotherapy is the standard treatment for many types of leukemia. Targeted therapies are a newer forms of cancer treatment that can be used together with chemotherapy or unavailability of other therapies. Stem cell therapy and bone marrow transplant are the emerging trends in leukemia therapeutic market and are expected to boost the market growth. Drugs used for treating leukemia can be classified according to the classes which include kinase inhibiting drugs such as imatinib (Gleevec), dasanib (Sprycel), erlotinib (Tarceva), and gefitinib (Iressa); aminopeptidase inhibitors like Tosedostat; and immunomodulatory drug class (IMiDs) such as lenalidomide (Revlimid) and others. Sapacitabine, GA101 (Obinutuzunab), fludarabine and cyclophosphamide are some promising drugs in the clinical trials.

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Geographically, North America accounts for the largest regional market, followed by Europe due to the increasing patient awareness, technological advancement, supportive government policies in terms of incentives and investments, and refined healthcare infrastructure. According to the World Health Organization (WHO), leukemia is expected to be more prominent in the developed world such as North America and Europe due to genetic factors caused by enhanced radiation exposure. Environmental factors and unhealthy lifestyles are the factors which add to the count. Similarly, the market is expected to grow promptly due to presence of high unmet needs in the emerging countries of Asia Pacific such as China, India, and Japan. Increasing investments in R&D expenditures by biotechnology firms, rapidly improving health care infrastructure, and growing awareness levels are the factors promoting the market growth in Asia Pacific. Countries of South America countries such as Brazil and Mexico are expected to have significant growth potential due to developing medical infrastructure, high disposable income, and rising prevalence of leukemia.

Some of the prominent market players operating in the global leukemia therapeutics market are Novartis AG, F. Hoffmann-La Roche AG, Bristol Myers Squibb Company (BMS), GlaxoSmithKline plc, Pfizer, Inc., Celgene Corporation, Biogen, Genzyme Corporation, and Eisai Co. Ltd.

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