Global Chronic Myelogenous Leukemia Treatment Market: Snapshot
Factors such as increasing number of research and developments in oncology sector, advancements in drug development, new product launch, and the introduction of various new therapies are leading towards the growth of the global market for chronic myelogenous leukemia.
Increasing prevalence of chronic myelogenous leukemia in developed countries due to genetic factors is also resulting in the development of new treatment and therapies that are more effective. Researchers are also focusing on polypharmacology approach to develop the drugs that can act on multiple targets. This is leading to the drug discovery opportunities that are beyond the concept of ‘one drug, one target’. The class of drugs known as TKIs is being used on a large scale, however, side-effects of these drugs are affecting its growth. Hence, new drugs and treatments are being developed to run the treatment successfully without any risk. Moreover, the rise in the development of a combination of drug therapies is also fueling the growth of the market.
North America to Dominate the Global Market for Chronic Myelogenous Leukemia Treatment
North America is likely to emerge as one of the largest regions in the global market for chronic myelogenous leukemia treatment. Increasing awareness about various new treatments among the patients suffering from chronic myelogenous leukemia, early diagnosis of patients suffering from cancer are some of the factors driving the market growth in North America. Other factors contributing to the market growth are presence of leading market players and rise in a number of approval of drugs by the U.S. Food and Drug Administration (FDA) for treating chronic myelogenous leukemia.
Meanwhile, improving healthcare infrastructure in developing countries like China and India are contributing towards the growth of chronic myelogenous leukemia treatment in the APEJ region.
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Some of the major market players in the global market for chronic myelogenous leukemia treatment are Novartis, Teva Pharmaceutical, Bristol Myers Squibb, Hoffman-LaRoche and Schering Plough, Pfizer, and Others. The use of second and third generation therapies has recently increased due to the lack of benefits from imatinib. Hence, players in the market are working on introducing treatments and drugs that can offer maximum benefits.