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The chronic myelogenous leukemia (CML) therapeutics market share is expected to increase by USD 2.14 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.1%.
This chronic myelogenous leukemia therapeutics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers chronic myelogenous leukemia therapeutics market segmentation by product (targeted therapy, chemotherapy, and immunotherapy) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The chronic myelogenous leukemia therapeutics market report also offers information on several market vendors, including Amneal Pharmaceuticals Inc., Bristol Myers Squibb Co., C. H. Boehringer Sohn AG, and Co. KG, Dr. Reddys Laboratories Ltd, F. Hoffmann La Roche Ltd., Ilyang Pharmaceutical Co. Ltd., Innovent Biologics Inc., Merck KGaA, Novartis AG, Pfizer Inc., Sheba Medical Center, Sun Pharmaceutical Industries Ltd, Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Viatris Inc., Lupin Ltd, and Otsuka Holdings Co Ltd among others.
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The strategic alliances are notably driving the chronic myelogenous leukemia therapeutics market growth, although factors such as patent expiration of TKIs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chronic myelogenous leukemia therapeutics industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Chronic Myelogenous Leukemia Therapeutics Market Driver
Strategic alliances are one of the major drivers impacting the chronic myelogenous leukemia (CML) therapeutics market growth. The global CML therapeutics market has witnessed multiple strategic alliances in recent years. Vendors in the global CML therapeutics market are also collaborating to expand their distribution networks and overcome challenges associated with the high cost of R&D of CML therapeutics. These alliances include license agreements among educational institutions, support groups, pharma, and diagnostic companies. The increasing alliances between molecular diagnostic companies are also expected to contribute to market growth. These strategic alliances focus on developing diagnostic kits and testing services, which results in the early diagnosis of the disease and contributes to the increasing patient adoption of the treatment. Thus, effective alliances among companies and institutes will contribute to market growth during the forecast period.
Key Chronic Myelogenous Leukemia Therapeutics Market Trend
The development of diagnostic tests and predictive markers is one of the major trends influencing the chronic myelogenous leukemia (CML) therapeutics market growth. Currently, the diagnosis of CML remains a challenge to market growth, as there is no method to diagnose the indication during the early stages. Moreover, the lack of predictive markers makes the diagnosis difficult. This challenge has resulted in a huge unmet need in the market, and, as a result, the companies that develop diagnostic methods are conducting research on developing new diagnostic testing methods that could help in the early detection of CML for treating the disease effectively using therapeutics. These developments include diagnostic kits in oncology that can effectively monitor the molecular response of the indication at an early stage. In June 2022, Novartis received a positive CHMP opinion for Scemblix, a new treatment for adult patients with CML. The unique STAMP mechanism of action makes Scemblix a new option for CML patients in Europe who have been intolerant or who have responded inadequately to at least two prior tyrosine kinase inhibitor treatments.
Key Chronic Myelogenous Leukemia Therapeutics Market Challenge
Patent expiration of TKIs is one of the major challenges impeding the chronic myelogenous leukemia therapeutics market growth. The market is facing challenges from approved generic versions. The patent expiry of drugs results in the manufacturing of generic versions for various branded drugs by vendors, thereby declining the market growth. Moreover, the market is expected to face a major threat of future patent expiration products over the forecast period. SPRYCEL (dasatinib), a novel drug by BMS, was nearing patent expiry in June 2020. Similarly, TASIGNA (nilotinib), a TKI by Novartis, also faces a threat from the patent expiry, as the drug is expected to lose its patent in July 2023. Patent expirations create an opportunity for other vendors to launch generic versions, which can significantly affect the sales of TASIGNA and SPRYCEL. Cipla Inc. is developing generic versions of dasatinib and nilotinib. Thus, the patent expiration of branded drugs and increasing approval of generics are expected to result in a market witnessing a serious threat during the forecast period.
This chronic myelogenous leukemia therapeutics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global chronic myelogenous leukemia (CML) therapeutics market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chronic myelogenous leukemia (CML) therapeutics market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the CML therapeutics market encompasses successful business strategies deployed by the key vendors. The CML therapeutics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The chronic myelogenous leukemia therapeutics (CML) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the CML therapeutics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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41% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for chronic myelogenous leukemia therapeutics market in North America. Market growth in this region will be faster than the growth of the market in other regions.
Raising awareness of new treatments for chronic myeloid leukemia patients and early diagnosis of cancer patients will facilitate the chronic myelogenous leukemia therapeutics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The rising number of COVID-19 cases prompted the government to impose a nationwide lockdown in 2020. Countries like the US, Canada, and Mexico closed the market owing to COVID-19, which led to major disruptions to the supply chain of CML therapeutics, thus negatively impacting the market growth in 2020. The US has the potential to become one of the largest countries in the global chronic myeloid leukemia treatment market.
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The chronic myelogenous leukemia therapeutics market share growth by the targetted therapy segment will be significant during the forecast period. The treatment landscape of the global CML therapeutics market is dominated by the targeted therapy segment owing to their proven efficacy with lesser side effects.
This report provides an accurate prediction of the contribution of all the segments to the growth of the chronic myelogenous leukemia therapeutics market (CML) size and actionable market insights on post COVID-19 impact on each segment.
Chronic Myelogenous Leukemia Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.1% |
Market growth 2022-2026 |
$ 2.14 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.5 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key consumer countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Amneal Pharmaceuticals Inc., Bristol Myers Squibb Co., C. H. Boehringer Sohn AG and Co. KG, Dr Reddys Laboratories Ltd, F. Hoffmann La Roche Ltd., Ilyang Pharmaceutical Co. Ltd., Innovent Biologics Inc., Merck KGaA, Novartis AG, Pfizer Inc., Sheba Medical Center, Sun Pharmaceutical Industries Ltd, Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Viatris Inc., Lupin Ltd, and Otsuka Holdings Co Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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