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Leukemia Therapeutic Market Projected to Witness Vigorous Expansion by 2021
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Acute myeloid leukemia, acute lymphoblastic leukemia, chronic myeloid leukemia and chronic lymphocytic leukemia are some of the different types of leukemia. Acute myeloid leukemia is most prominent in adult people and it is also known as acute myelogenous leukemia. Chronic myeloid leukemia is also known as chronic myelogenous leukemia. Leukemia therapeutics consists of three steps including induction therapy, consolidation therapy and maintenance therapy. Leukemia therapeutic includes chemotherapy, radiation and stem cell transplantation. Leukemia is diagnosed through physical test, blood test and biopsy. Leukemia is also diagnosed by cytogenetics, spinal tap and chest-X ray as suggested by the doctors.
North America followed by Europe dominates the global leukemia therapeutics market due to rising incidence of cancer and growing aging population. Asia is expected to show high growth rate due to rising incidence of cancer. China and India are expected to be the fastest growing leukemia markets in Asia region. Some of the key driving forces for the leukemia therapeutic market in emerging countries are increasing R&D investment, large pool of patients and rising government funding.
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In recent time there is increased use of leukemia therapeutic due to rising number of cancer diseases across the world. Rising aging population, lifestyle factors and increasing awareness for healthcare are some of the key driving factors for the growth of the global leukemia therapeutics market. In addition, innovative and targeted drug delivery is also fuelling the growth of the global leukemia therapeutics market. However, availability of large numbers of generic form of drugs and limited treatment options are some of the major factors restraining the growth of the global leukemia therapeutics market. In addition, high unmet need for diagnosis is also restraining the growth of the global leukemia therapeutics market.
Off label prescribing would support the growth of the global leukemia therapeutics market. In addition, limited number of market players would supports the entry of new market players. Innovative and safer therapies could develop an opportunity for growth of the global leukemia therapeutic market. However, adverse effect caused by chemotherapy and radiation therapy could lead a challenge for the global leukemia therapeutics market.
Some of the major companies operating in the global leukemia therapeutic market are Genzyme Corporation, Novartis International AG, Pfizer Inc., Roche Holding AG, Celgene Corporation and Ariad Pharmaceuticals Inc. Other companies include Clavis Pharma ASA and Sunesis Pharmaceuticals Inc.
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