Rise in the incidences of acute lymphoblastic leukemia and increase in number of new product approvals drive the growth of the global acute lymphoblastic leukemia therapeutics market. On the other hand, patent expiry of blockbuster drugs and several side effects of the treatment restrain the growth to some extent. Nevertheless, growing number of clinical trials is expected to create multiple opportunities for the key players in the industry.
According to the report published by Allied Market Research, the global acute lymphocytic/lymphoblastic leukemia therapeutics market accounted for $2,334.5 million in 2018, and is expected to reach $3,528.8 million by 2026, registering a CAGR of 5.3% from 2019 to 2026. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Key Findings of the Acute Lymphocytic/Lymphoblastic Leukemia Therapeutics Market:
- The pediatrics segment accounted for more than half of the market share in 2018.
- North America accounted for more than one-third market share in 2018 and is expected to maintain this trend throughout the forecast period.
- The targeted drugs & immunotherapy in the end user segment is anticipated to grow at a CAGR of 6.7% from 2018 to 2026.
- The adults segment accounted for 44% share of the market in 2018.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “The growth in acute lymphocytic/lymphoblastic leukemia therapeutics market is due to increase in incidences of acute lymphoblastic leukemia and the number of bone marrow biopsies across the world. Furthermore, rise in awareness of targeted therapies amongst the population is another factor that contributes toward the growth of the market.”
Rise in incidences of acute lymphoblastic leukemia and the number of bone marrow biopsies across the world are the major factors that boost the growth of the acute lymphocytic/lymphoblastic leukemia therapeutics market. However, the stringent regulatory approvals for the therapeutics and the adverse side effect of the drugs used in the therapy impede the acute lymphocytic/lymphoblastic leukemia therapeutics market growth. The increase in investment in the R&D of different leukemia and rise in awareness of targeted therapies amongst the population are also anticipated to provide lucrative opportunities for the market during the forecast period.
North America to maintain its top status during the study period-
Based on geography, the market across the North America region generated the highest share in 2018, accounting for nearly half of the total market. Ease of access for the ALL treatment and high pricing of ALL therapeutics in other regions spur the growth. At the same time, the Asia-Pacific region is assumed to cite the fastest CAGR of 6.3% during the forecast period.
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Leading players in the market-
The key market players analyzed in the report include Amgen, Inc., Bristol-Myers Squibb Company, Rare Disease Therapeutics, Inc., Erytech Pharma, Leadiant Biosciences, Inc. (Sigma-Tau Pharmaceuticals Inc.), Novartis AG, Sanofi, Pfizer, Inc., Takeda Pharmaceutical Company Limited, and Spectrum Pharmaceuticals, Inc. Adopting several high-end strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to heighten their stand in the industry.
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