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Chronic Myeloid Leukemia Drugs Market expected to Witness a Sustainable Growth by 2019
Incidence rate of CML is high in men and is the second most common type of cancer occurring in male adults. Women who are above 50 years in age are expected to suffer from this chronic disease. Treatment for CML depends on the phase of the disease that can be chronic, accelerated or the blast phase and the treatments for CML include chemotherapy, stem cell transplants and biologic therapies. Drugs available in the market are tyrosine Kinase inhibitor.
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About 90% of the CML cases occur in the middle age and progresses with the aging. Therefore, CML drugs market is poised to grow with the rise in aging population and increasing incidences of CML. Drugs such as Gleevec (Imatinib Mesylate), Bosulif (Bosutinib), Sprycel (Dasatinib), Iclusig (Ponatinib Hydrochloride) and others are commercially available for the treatment of CML.
These drugs have improved the survival rate of the patient by 92.5%. Gleevec was the first CML drug introduced in 2001, since then there has been a revolutionary change in the quality life of patient as compared to the former chemotherapy drugs.
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One of the major risk factor associated with occurrence of CML is the exposure to ionizing radiations. For instance cases of CML were mainly indicated in the regions where people were exposed to atomic bombings (Hiroshima and Nagasaki). Recently in 2012, Ponatinib received FDA approval for the treatment of CML.
Further, players in the market are adopting various growth strategies such as mergers and acquisitions, new product launches, innovative product pipeline to remain competitive. Some of the market players in this industry are Novartis Pharmaceuticals, Bristol-Myers Squibb, Ariad Pharmaceuticals, Inc, Pfizer and others.
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