Acute Lymphocytic/Lymphoblastic Leukemia Therapeutics Worth $3.4 Billion By 2025
The global acute lymphocytic/lymphoblastic leukemia therapeutics market is expected to reach USD 3.4 billion by 2025, according to a new report by Grand View Research, Inc. Increasing public and private initiatives for diagnosis of Acute Lymphoblastic Leukemia (ALL), rising number of bone marrow biopsies, and availability of other treatment options are factors expected to increase the adoption of ALL procedures. For instance, The Baby Friendly Initiative Program by UNICEF (UK) and SickKids-Caribbean Initiative, a collaborative approach between hospitals and healthcare institutions in Canada, aim to provide free diagnosis and treatment services to infants suffering from ALL, who meet certain eligibility criteria.
Furthermore, rising incidence of ALL is anticipated to boost the market. The disease is prevalent among children below 5 years of age. The risk of contracting ALL is the highest between the ages of 0 and 20. On the other hand, adults are also at a risk of developing this condition. The median age of men diagnosed with this condition is approximately 55 years.
Further Key Findings From the Report Suggest:
- Chemotherapy dominated the market in 2016 owing to its high prescription rate, presence of a wide product portfolio, and easy availability of products
- Targeted therapy is anticipated to be the most preferred therapy in comparison to other types of therapies due to its associated benefits such as target-specific action and its ability to prevent collateral damage, leading to faster recovery
- Precursor B-ALL dominated the market in 2016 and is expected to be the fastest growing segment during the forecast period due to increasing prevalence of BCR-ABL and Burkitt leukemia, which are its subtypes
- North America dominated the market in 2016 owing to factors such as the increase in demand for chemotherapy regimen such as CALGB 8811 and oncaspar in this region
- Asia Pacific is anticipated to be the fastest growing region with a lucrative CAGR during the forecast period due to growing awareness about ALL. Furthermore, the rising disposable income and presence of large population base are some of the factors expected to propel the growth in this region
- Key players in this industry are Erytech Pharma, Spectrum Pharmaceuticals, Inc., Pfizer, Inc., Sigma-Tau s.p.a., and Genzyme Corporation
- Key players are focusing on strategies such as expansion of product portfolio and collaborations. For instance, in June 2017, Bristol-Myers Squibb Company and QIAGEN entered into an agreement to use Next-Generation Sequencing (NGS) technology to develop gene expression profiles for immune-oncology therapies