How is the Chronic Myeloid Leukemia (CML) Treatment Market Poised for Growth: Trends and Opportunities Through 2034
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What fueled the previous growth in the chronic myeloid leukemia (cml) treatment market?
There has been a robust growth in the chronic myeloid leukemia (CML) treatment market in the recent past. Expected to increase from $8.23 billion in 2024 to $8.68 billion in 2025, the market will see an annual compound growth rate (CAGR) of 5.4%. The expansion during the historical period is linked to factors such as improved awareness and early diagnosis, results of clinical trials, development of targeted treatments, patient advocacy and support groups, as well as progress in healthcare infrastructure.
What will be the chronic myeloid leukemia (cml) treatment market size in the future?
Expectations are high for substantial expansion in the chronic myeloid leukemia (CML) treatment market in the coming years. Growth projections estimate a rise to $11.39 billion in 2029, with a compound annual growth rate (CAGR) of 7.0%. The factors contributing to this forecasted expansion include the implementation of personalized medicine protocols, combined treatment approaches, improved patient access to innovative therapies, state policies endorsing rare disease drugs, and an upturn in health spending. Future trends such as collaborative global research initiatives, telehealth and distant patient monitoring, the creation of advanced tkis, and treatment optimization strategies are also set to shape the market during the forecast period.
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What main drivers are fueling expansion in the chronic myeloid leukemia (cml) treatment market?
The chronic myeloid leukemia (CML) treatment market is projected to grow in response to the escalating occurrence and number of cases of CML. This specific form of cancer, also referred to as chronic myelogenous leukemia, impacts the bone marrow and blood, leading to the overproduction of immature white blood cells, or myeloid cells. CML treatments aim to decelerate the spread of the disease and prevent it from reaching a severe stage. For example, the American Society of Clinical Oncology, a US professional organization that brings together physicians specializing in all cancer-related fields, stated in March 2023 that approximately 35,730 individuals in the US (19,860 men and 15,870 women) are expected to be diagnosed with multiple myeloma in 2023, and it is predicted that this illness will result in approximately 12,590 deaths (7,000 men and 5,590 women) in the same year. Consequently, the surging occurrence and prevalence of CML are fuelling the expansion of the CML treatment market.
What key areas define the segmentation of the global chronic myeloid leukemia (cml) treatment market?
The chronic myeloid leukemia (CML) treatment market covered in this report is segmented –
1) By Type: Targeted Therapy, Chemotherapy, Radiation Therapy, Splenectomy, Stem Cell Transplant
2) By Drug Type: Tyrosine Kinase Inhibitors, Antimetabolites, Other Drug Types
3) By Application: Hospitals, Clinic, Other Applications
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Subsegments:
1) By Targeted Therapy: Tyrosine Kinase Inhibitors (TKIs), Other Targeted Agents
2) By Chemotherapy: Combination Regimens, Single-Agent Therapies
3) By Radiation Therapy: Palliative Radiation, Total Body Irradiation
4) By Splenectomy: Laparoscopic Splenectomy, Open Splenectomy
5) By Stem Cell Transplant: Allogeneic Stem Cell Transplant, Autologous Stem Cell Transplant
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Who are the dominant players expanding their reach in the chronic myeloid leukemia (cml) treatment market?
Major companies operating in the chronic myeloid leukemia (CML) treatment market include Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca plc, Takeda Pharmaceutical Company Limited, Amgen Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Eisai Co. Ltd., Fresenius Kabi AG, Sun Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co. Ltd., Incyte Corporation, Cipla Limited, Dr. Reddy’s Laboratories Ltd., Amneal Pharmaceuticals LLC, Lupin Limited, Innovent Biologics Inc., Glenmark Pharmaceuticals Limited, Il-Yang Pharmaceutical Co. Ltd., Accord Healthcare Inc., ARIAD Pharmaceuticals Inc., Orca Bio, Bio-Path Holdings Inc.
How are evolving market trends shaping chronic myeloid leukemia (cml) treatment Strategies?
The trend of Product Innovation is escalating in prominence within the chronic myeloid leukemia (CML) treatment market. To maintain their market presence, businesses in the chronic myeloid leukemia (CML) treatment sphere are embracing novel technologies. For instance, in August 2022, Novartis AG, a pharmaceutical firm based in Switzerland, proclaimed the validation from the European Commission (EC) for Scemblix, utilised for the treatment of adult patients suffering from chromosome-positive chronic myeloid leukemia in the chronic phase (Ph+ CML-CP). Scemblix represents the inaugural chronic myeloid leukemia (CML) treatment in Europe that distinctively aims at the ABL myristoyl pocket, a trait denoted as a STAMP inhibitor in academic references. This groundbreaking technique offers an alternative treatment for patients who have encountered intolerance or resistance to prevailing tyrosine kinase inhibitors (TKIs). By rethinking the treatment strategy, Scemblix caters to those who find it challenging to cope with existing therapies.
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Which regions are emerging as leaders in the chronic myeloid leukemia (cml) treatment market?
North America was the largest region in the chronic myeloid leukemia (CML) treatment market in 2024. The regions covered in the chronic myeloid leukemia (CML) treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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