The global acute lymphoblastic leukemia market is growing at a significant CAGR during the forecast period. One of the major factors that are driving the global acute lymphoblastic leukemia market is the growing number of patients of acute lymphoblastic leukemia. According to the Leukemia & Lymphoma Society, approximately every 3 minutes one person in the United States (US) is diagnosed with blood cancer. Further, an estimated combined total of 176,200 people in the US is expected to be diagnosed with leukemia, lymphoma or myeloma in 2019. In addition, new cases of leukemia, are expected to account for 10% of the estimated 1,762,450 new cancer cases diagnosed in the US in 2019 making a huge opportunity for new as well as established market players in the region.
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Acute lymphoblastic leukemia is a blood cancer that begins in the bone marrow and quickly spreads to the blood. It is one of the four main leukemia types. It requires early intervention as it is a very aggressive disease. Many acute-leukemia patients would only survive for a couple of months without treatment. In children under five years of age, acute lymphoblastic leukemia is most common. Additionally, targeted therapy is one of the most chosen therapies owing to several benefits associated with it including target-specific act and its capability of preventing collateral damage that leads to faster recovery; hence it is one of the major factors augmenting the market growth.
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The rising essentiality of chemotherapy is additionally contributing to market growth. According to the American Cancer Association chemotherapy is the chief treatment for the patients that are suffering from acute lymphoblastic leukemia. Cytotoxic drugs are being used in chemotherapy for cell destruction, further, according to India pediatrics chemotherapy treatment are a most trusted treatment for any cancer type and are decreasing the rate of mortality rate in the country; hence it is contributing to the market growth as well. Further, increasing technological advancement and the launch of new products and drugs are assisting in market growth. However, the high cost of treatments and low disposable income in developing economies is expected to hinder the growth of the market
The key market players that are dominating the global acute lymphoblastic leukemia market include Pfizer, Inc., Spectrum Pharmaceuticals Inc., Novartis AG, Hoffmann La Roche Ltd., Celgene Corp., Thermo Fisher Scientific, Inc., Eli Lilly & Co., Lonza Group Ltd., and many others.Geographical expansion, merger & acquisition, finding a new market or innovate in their core competency in order to expand individual market share is a key strategy adopt and ed by major market players. For instance, in June 2019 Bristol-Myers Squibb Company partnered with QIAGEN to utilize NGS technology, this partnership was primarily carried out to produce gene expression profiles to be used in immune-oncology therapies.
Global Acute Lymphoblastic Leukemia – Segment
By Cell Type
- B-Cell
- T-Cell
By Treatment
- Chemotherapy
- Radiation Therapy
- Targeted Therapy
- Immunotherapy
- Stem Cell Transplantation
By End-User
- Hospitals and Clinics
- Research Institutes
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
