CHRONIC MYELOID LEUKEMIA TREATMENT MARKET ANALYSIS

Chronic Myeloid Leukemia Treatment MarketSize and Trends

The global chronic myeloid leukemia treatment market is estimated to be valued at US$ 7,216.3 million in 2021, and is expected to exhibit a CAGR of 6.0% during the forecast period (2021-2028).

Figure 1. Global Chronic Myeloid Leukemia Treatment Market in Terms of Value (US$ million), By Region, 2021

Increase in focus on research and development activities by key players is estimated to drive the global chronic myeloid leukemia treatment market growth during the forecast period.

Several market players and research institutes are involved in research and development activities related to chronic myeloid leukemia treatment, which is expected to fuel the growth of the global chronic myeloid leukemia treatment market in the near future. For instance, in December 2020, the U.S. Food and Administration approved supplemental new drug application for ICLUSIG (ponatinib) for adult patients with chronic myeloid leukemia (CML).

Figure 2. Global Chronic Myeloid Leukemia Treatment Market Share (%), By Drug Type, 2021

Increasing awareness programs regarding chronic myeloid leukemia is anticipated to propel the global chronic myeloid leukemia treatment market growth over the forecast period.

The demand for drugs of chronic myeloid leukemia and its associated disorders such as blood cancers is rapidly increasing. The market players and non-profit organizations in various countries are implementing various initiatives and organizing awareness programs in order to increase the production of medications for chronic myeloid leukemia, which is expected to create lucrative opportunities for the chronic myeloid leukemia medication manufacturers and drive the market growth in the near future. For instance, on September 22, every year, the chronic myeloid leukemia (CML) Foundation Network conducts the World CML Day global awareness campaign.

Global Chronic Myeloid Leukemia Treatment Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic was first reported on December 31, 2019 in Wuhan, China. The World Health Organization (WHO) declared the COVID-19 a pandemic on March 11, 2020. The negative impact is mostly due to the delay in clinical trial study and product approval. Moreover, disturbance in supply chain due to COVID-19 is expected to hinder the growth of market.