The chronic myelogenous leukemia therapeutics market size will grow by USD 1.74 billion during 2019-2023. This market report provides a detailed analysis of the market by product (targeted therapy, chemotherapy, and immunotherapy) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on many market vendors, including Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Co., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Mylan NV, Novartis AG, Otsuka Holdings Co. Ltd., Pfizer Inc., Takeda Pharmaceutical Co. Ltd., and Teva Pharmaceutical Industries Ltd.
Key Insights on Chronic Myelogenous Leukemia Therapeutics Market – Global Forecast 2019-2023
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The CML therapeutics market has witnessed a number of strategic alliances over recent years. Market vendors are focusing on collaborations to expand their distribution networks and reduce costs associated with the R&D of CML therapeutics. Collaborations among vendors are influencing market growth by increasing patient adherence by reducing the cost burden. For instance, the BMS recently collaborated with The MAX Foundation to provide free drugs to patients who are unable to access the treatment. The strategic alliances between vendors have also increased the development of diagnostic kits and testing services, which have resulted in the early diagnosis of the disease and increased adoption for the treatment. Effective alliances among companies will significantly fuel the growth of the CML therapeutics market size during 2019-2023.
Crucial chronic myelogenous leukemia therapeutics market trends such as the development of diagnostic tests and predictive markers will also influence market growth. The high unmet need is encouraging companies to research diagnostic testing methods that help in the early detection of CML. These developments include diagnostic kits in oncology to effectively monitor the molecular response of the indication at an early stage. Vendors are also introducing predictive biomarkers for CML for the intrinsic sensitivity of TKI drugs. For instance, HMGCLL1 is a predictive biomarker in CML for deep molecular response to imatinib therapy.
Similarly, microRNAs are used as biomarkers to study the progression of CML and the resistance to TKI drugs. These developments are expected to enhance the effectiveness of CML therapy drugs. As a result of these factors, the myelogenous leukemia therapeutics market will register a CAGR of nearly 6% during the forecast period.
Top Companies in Chronic Myelogenous Leukemia Therapeutics Market
The global market is fragmented. To help clients improve their market positions, this chronic myelogenous leukemia therapeutics market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This chronic myelogenous leukemia therapeutics market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading chronic myelogenous leukemia therapeutics companies, including:
Boehringer Ingelheim International GmbH
Bristol-Myers Squibb Co.
F. Hoffmann-La Roche Ltd.
Merck & Co. Inc.
Otsuka Holdings Co. Ltd.
Takeda Pharmaceutical Co. Ltd.
Teva Pharmaceutical Industries Ltd.
Chronic Myelogenous Leukemia Market by Product
The targeted therapy segment held the largest market share in 2018. It will account for the highest chronic myelogenous leukemia therapeutics market share over the forecast period as well. The market is witnessing an increase in the number of approved TKI drugs for the treatment of chronic phase CML. The increasing number of approvals for orphan drug destinations is also fueling the growth of the segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the chronic myelogenous leukemia therapeutics market size.
Chronic Myelogenous Leukemia Therapeutics Market by Geography
With a complete study of the growth opportunities for companies, it has been identified that North America will account for the highest share of the chronic myelogenous leukemia therapeutics market throughout the forecast period. Vendors operating in the region are providing patient-assistance programs, such as co-pay assistance and free trial programs to reduce patients’ burden. These patient-assistance programs are also inclusive of reimbursement support, financial co-payment assistance, medication adherence, and supportive care. Such initiatives by vendors are fueling the chronic myelogenous leukemia therapeutics market growth in North America.
Major Highlights of the Chronic Myelogenous Leukemia Therapeutics Market - Global Forecast 2019-2023
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the chronic myelogenous leukemia therapeutics market size during the next five years
Precise estimation of the global chronic myelogenous leukemia therapeutics market size and its contribution to the parent market
Accurate chronic myelogenous leukemia therapeutics market forecast on upcoming trends and changes in consumer behavior
The growth of the chronic myelogenous leukemia therapeutics industry across Asia, Europe, North America, and ROW
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details of factors that will challenge the growth of chronic myelogenous leukemia therapeutics companies
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