Increasing prevalence of chronic diseases and rising geriatric population base are key market driver for the growth of leukemia therapeutics market over the forecast period. High volume of biotechnology firms, increasing investments in R&D sector and development in molecular diagnostics are the factors further propelling growth of leukemia therapeutics market. Additionally, availability of novel therapies, metabolic inhibitors, increasing cost effective treatment options and pipeline products are also expected to boost the market demand for leukemia therapeutics.
Leukemia therapeutic market is segmented into immunotherapy, surgery, radiation therapy, chemotherapy, targeted therapy, stem cell therapy and bone marrow transplant. Chemotherapy and radiation therapy dominated the therapeutic market in 2014 due to increasing demand for treatment of acute lymphatic leukemia. Further segmentation includes type of diagnosis, disease condition and drugs. Hyper CVAD chemotherapy treatment is majorly used to treat the acute lymphatic leukemia. Emerging therapies such as bone marrow transplant and stem cell therapy are gaining popularity are anticipated to gain market share during the forecast period due to increasing awareness among patients. Gleevec was one of the major drug markets in 2014.
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North America was the largest regional market for leukemia therapeutics, in 2014, due to rising prevalence of chronic disease and lifestyle associated diseases. Factors such as sophisticated healthcare infrastructure, supportive government policies, technological advancement and increasing patient awareness are primarily fueling the market demand of leukemia therapeutics in the U.S. Asia Pacific regional market is expected to grow at rapid pace owing to the presence of improving healthcare infrastructure, high unmet needs relating to diagnosis and treatment of leukemia, rising investments in R&D sector by biotechnology firms and high penetration rates.
Major competitors in the market are Bristol Myers Squibb Company (BMS), Genzyme Corporation, GSK, Biogen, Roche, Pfizer, Novartis AG, Celgene and Eisai C. companies are adopting strategies to gain advantage such as product pipeline, new product development, clinical trials, merger & acquisitions. Novartis and Pfizer are the major contributors in leukemia therapeutic market due to adoption of product expansion strategy. Tyrosine kinase receptor FLT-3 of Novartis and Bosulif drug of Pfizer are expected to propel the growth of leukemia therapeutic market.
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