The latest market report published by Credence Research, Inc. “Global Chronic Myeloid Leukemia (CML) Tretament Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023,” the chronic myeloid leukemia (CML) treatment market was valued at USD 2,828.9 Mn in 2015, and is expected to reach USD 2,072.0 Mn by 2023, expanding at a CAGR of (3.7%) from 2016 to 2023.
Market Insights
According to Leukemia Foundation, chronic myeloid leukaemia (CML) is a type cancer that affects the blood and bone marrow. In CML the bone marrow produces too many white cells or granulocytes which gradually crowd the bone marrow, interfering with normal blood cell production. They also spill out of the bone marrow and circulate around the body in the bloodstream. Because they are not fully mature, they are unable to work properly to fight infections leading to a shortage of red cells and platelets that can cause anemia, bleeding and/or bruising. The global prevalence of CML is estimated to be about 70,000 in 2010, 112,000 in 2020, 144,000 in 2030, 167,000 in 2040 and 181,000 in 2050 when it is expected to reach a near plateau prevalence. Market experts suggest that, since last decade exceptional progress was carried out in chronic myeloid leukemia (CML) treatment which led patients more options than ever. Currently existing BCR-ABL inhibitors form the stronghold of CML treatment comprises first-generation imatinib and more effective second-generation BCR-ABL inhibitors nilotinib and dasatinib, with ponatinib and bosutinib having been recently approved for market inclusion. A few published reports exhibit that nilotinib and dasatinib have high efficacy than imatinib in first-line chronic-phase CML (CML-CP), allowing more patients to get effective results, comparatively more rapid responses related with enhanced results. There are alternatives to imatinib for first-line CML-CP experts suggest a great need for comprehensible and precise facts that would aid patients in decision making of suitable treatment. Currently most usage of second- and third-generation therapies occurs in patients which are unable to gain sufficient benefits from Imatinib. However, many market stakeholders consider that the more potent second- and third-generation products have an opportunity to be used more widely – built around an idea that earlier use with these products produces a deeper and a faster response, which could potentially prolong overall survival.
North America was observed as the largest CML treatment due to factors such as rising diagnosis rate in patients suffering from cancer, rising awareness in CML patients related to novel drug treatments and highest yearly treatment price compared to others regions. According to Cancer.net, about 10% of all leukemia is CML. In 2015, around 8,220 people (4,610 men and 3,610 women) in the United States were diagnosed with CML. Most of these were adults, with an average age of diagnosis at 64 years. It is estimated that 1,070 deaths (570 men and 500 women) occurred this year. The American Cancer Society’s estimates that in year 2016, about 8,220 new cases will be diagnosed with CML (4,610 in men and 3,610 in women), and about 1,070 people will die of CML (570 men and 500 women). Thus, North America is expected to retain its domination in the near future.
Browse the full report Chronic Myeloid Leukemia (CML) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 report at http://www.credenceresearch.com/report/chronic-myeloid-leukemia-cml-treatment-market
Market Competition Assessment:
The chronic myeloid leukaemia (CML) market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Novartis AG, Bristol-Myers Squibb, Teva Pharmaceuticals Industries Ltd., ARIAD Pharmaceuticals, Inc., Pfizer, Inc., Hospira, Inc., Prism Pharmaceuticals, Incyte Corporation, Bio-Path Holdings, Stragen Pharma SA, Otsuka Pharmaceutical Co., Ltd. and Others.
Key Market Movements:
- Targeted therapy accounted for the largest share of CML treatment market due to high efficiency, increased life expectancy, insurance cover in developed and developing countries, and rising patient’s awareness related to the targeted therapy
- North America was observed as the leading geographical region in chronic myeloid leukemia treatment market due to rising diagnosis rate of chronic myeloid leukemia, market entry of novel targeted drug therapies and organized medical insurance environment
- Currently most usage of second- and third-generation therapies occurs in patients which are unable to gain sufficient benefits from Imatinib
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