Source: Emailwire Global Press Release Newswire – Press Release/Statement:
Headline: Rise in Healthcare expenditure to boost the Leukemia Market growth- Market to grow at CAGR of 5-6% by 2026
(EMAILWIRE.COM, November 11, 2019 )-DataM Report
Leukemia is a type of cancer that affects the blood and bone marrow. It originates in the bone marrow and results in the abnormality in leucocytes or white blood cells.According to the American Cancer Society (ACS), there will be around 62,000 estimated cases of Leukemia in 2019 in U.S. Leukemia begins in a cell in the bone marrow and changes the cell to become a type of leukemia cell. After the leukemic change, the leukemia cells may grow and survive better than normal cells. With time, the leukemia cells crowd out or suppress
the development of normal cells. The rate of replacement of normal blood and marrow cells and at which leukemia progress are different with each type of leukemia. Leukemia occurs most often in adults older over the age of 55, but it is also the most common cancer in children younger than 15.
The market is driven by a rise in prevalence population, robust pipeline, rise in healthcare expenditure, and technological advancements. Childhood leukemia is the most common type of cancer in children and teens. The incidence rate of Leukemia is highest in children, among other cancers. High costs associated with drug development and adverse side-effects related to chemotherapeutic options are going to restrain the market in the forecast period.
The leukemia market can be segmented by disease type as Acute Lymphocytic Leukemia, Chronic Lymphocytic Leukemia, Acute Myeloid Leukemia, and Chronic Myeloid Leukemia and by treatment type as Medication, Surgery, Chemotherapy, Biological Therapy, Immunotherapy, Radiation Therapy, Targeted Therapy, and Stem Cell Transplantation.
Acute Lymphocytic Leukemia is the most common type of Leukemia among children. According to ACS, around 3 out of 4, childhood leukemias are Acute Lymphocytic Leukemia. This leukemia starts in early forms of white blood cells called lymphocytes. Over the period of forecast incidence cases of Acute Lymphocytic Leukemia are expected to grow, leading to growth in their therapeutics market. This cancer usually gets worse quickly if it is not treated. In a child with this type of cancer, too many stem cells become lymphoblasts, B lymphocytes, or T lymphocytes. The cells do not work like normal lymphocytes and are not able to fight infection very well. These cells are cancer cells. Also, as the number of leukemia cells increases in the blood and bone marrow, there is less room for healthy white blood cells, red blood cells, and platelets. This leads to infection, anemia, and easy bleeding.
Chemotherapy is the use of anti-cancer drugs that are injected into the vein, under the skin, or into the cerebrospinal fluid. When given into the cerebrospinal fluid, these drugs enter the bloodstream and reach all areas of the body, making this treatment useful for leukemia that spread throughout the body. Chemotherapy is the main treatment for most people with leukemia. Chemotherapy uses potent drugs or chemicals, often in combinations or intervals, to kill or damage cancer cells in the body.
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Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and theMiddle East & Africa.
North America is expected to dominate the market in the forecast period followed by Europe. High disease awareness, favorable reimbursement policies, high healthcare access, advanced healthcare infrastructure, high disease prevalence, and government initiatives are critical factors for the substantial growth of the market in North America regions.
The Asia Pacific is anticipated to have the highest growth rate in the forecast period due to the development of the healthcare infrastructure, especially contributed by developing countries like China and India. Rising investments for R&D activities are projected to encourage the growth of the leukemia market in the region. Also, increasing healthcare expenditures, rising prevalence of leukemia are also expected to fuel the market growth in the forecast period. According to the World Health Organization (WHO) database, Australia and New Zealand have the highest regional leukemia rate in the world with around 11.3 per 100,000 population for 2012.
Some of the major key players in the market are AbbVie, Novartis, Pfizer, Bristol-Myers Squibb Company, Genzyme, Celgene, GlaxoSmithKline, Cephalon, Eisai and Teva Pharmaceuticals.
In January 2019, AbbVie received FDA approval for IMBRUVICA (ibrutinib) Plus Obinutuzumab (GAZYVA) – first chemotherapy-free, anti-cd20 combination regimen approved for chronic lymphocytic leukemia/small lymphocytic lymphoma (cll/sll) in previously untreated patients.
In February 2019, Bristol-Myers Squibbs Sprycel (dasatinib) tablets got approval in combination with chemotherapy in certain pediatric patients with philadelphia chromosome-positive acute lymphoblastic leukemia.
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