Leunited Kingdomemia Therapeutics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Leunited Kingdomemia Therapeutics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The LeUnited Kingdomemia Therapeutics Market is expected to register a CAGR of 5.5% over the forecast period (2022-2027).

As most elective treatments were deferred due to the outbreak of the COVID-19 pandemic, the hematologic malignancies treatment was also impacted significantly. However, delayed treatment is not recommended for severe diseases, especially acute leUnited Kingdomemia, and thus, necessary guidelines and measures have been put forth recently to allow leUnited Kingdomemia treatments during the pandemic with all protective measures. According to the research article published in Karger Journal in October 2021, titled "Treating LeUnited Kingdomemia in the Time of COVID-19" the risk of infection is low although the mortality may be higher in patients with leUnited Kingdomemia and COVID-19. Additionally, as per the research study "Patients with Cancer Appear More Vulnerable to SARS-CoV-2: A Multicenter Study during the COVID-19 Outbreak" published in Cancer Discovery in June 2021, the risk of experiencing severe cases of COVID-19 infection was found to be higher, at about 57%, among patients with blood cancers. Thus, given the aforementioned factors, the COVID-19 pandemic is expected to impact the growth of the studied market.

The leUnited Kingdomemia therapeutics market is mainly driven by the rising burden of leUnited Kingdomemia cases, high unmet medical need for cancer therapy, and rising investment in healthcare sectors. A significant number of the population across the globe suffers from leUnited Kingdomemia. For instance, as per the statistics by GLOBOCAN 2020, leUnited Kingdomemia accounted for 474, 519 cases for both sexes of all ages in 2020, worldwide. As per the same above-mentioned source, 311,594 deaths occurred in 2020 due to leUnited Kingdomemia, worldwide. In addition, as per the 2021 statistics by the LeUnited Kingdomemia & Lymphoma Society, an estimated 397,501 people are living with or in remission from leUnited Kingdomemia in United States. Hence, the overall statistics show that there is a huge number of people that are prone to suffer from leUnited Kingdomemia, which may directly impact the growth of the market in the forecast period.

Furthermore, the increasing number of investments being made in research and development has enabled several pharmaceutical and biotechnology companies to focus on and develop novel and effective drugs. For instance, in April 2021, the LeUnited Kingdomemia & Lymphoma Society Therapy Acceleration Program (LLS TAP) reported five new investments aimed at speeding the development of new and improved immunotherapies for the treatment of blood cancers. LLS has dedicated more than USD 100 million over the past several decades, through both grants and TAP investments, to advancing pioneering approaches that harness cellular immunotherapies to fight blood cancers.

Additionally, in May 2022, Servier received United States Food and Drug Administration (FDA) approval for TIBSOVO (ivosidenib tablets) in combination with azacitidine for the treatment of patients with newly diagnosed IDH1-mutated acute myeloid leUnited Kingdomemia (AML) in adults 75 years or older, or who have comorbidities that preclude the use of intensive induction chemotherapy.

Thus, owing to the abovementioned factors, the market is expected to project growth of the market. However, the high cost of treatment and stringent regulatory scenario restrained the market growth over the forecast period.

LeUnited Kingdomemia Therapeutics Market TrendsChemotherapy is Expected to Register a Significant Growth Over the Forecast Year

Chemotherapy is a drug treatment that uses powerful chemicals to kill fast-growing cells in the body. Chemotherapy is most often used to treat cancer since cancer cells grow and multiply much more quickly than most cells in the body.

The primary key factor contributing to the growth of the chemotherapy segment is the rising incidence of leUnited Kingdomemia cases. As per the 2021 statistics by Blood Cancer United Kingdom, although rare, children can develop acute myeloid leUnited Kingdomemia (AML). As per the same above-mentioned source, in United Kingdom, around 100 children a year are diagnosed with the condition.

Many companies are also focusing on developing breakthrough products for the treatment of LeUnited Kingdomemia to maintain their competitive advantage and penetrate new regional markets. Chemotherapy is thus considered the main treatment option for most individuals with LeUnited Kingdomemia. For instance, in December 2021, BDR Pharma launched India’s one of the first Generic- Midostaurin under the brand name MSTARIN, Midostaurin single-agent maintenance therapy for adults with newly diagnosed LeUnited Kingdomemia who are FLT3 mutation-positive.

Also, in October 2021, Novartis received Food and Drug Administration (FDA) approval for Scemblix (asciminib) for the treatment of chronic myeloid leUnited Kingdomemia (CML) in two distinct indications. The FDA granted Scemblix accelerated approval for adult patients with Philadelphia chromosome-positive CML in chronic phase (Ph+ CML-CP) previously treated with two or more tyrosine kinase inhibitors (TKIs), and full approval for adult patients with Ph+ CML-CP with the T315I mutation. Such approvals are driving the growth of the market segment.

Thus, owing to the abovementioned factors, the market segment is expected to project growth over the forecast period.

North America Holds the Large Share in the LeUnited Kingdomemia Therapeutics Market Over the Forecast Period

North American region holds a large share in the leUnited Kingdomemia therapeutics market due to the presence of high incidence rate, and advancements in the treatment of leUnited Kingdomemia. According to American Cancer Society estimates in January 2022, about 60,650 new cases of leUnited Kingdomemia and 24,000 deaths from leUnited Kingdomemia and there were around 11,450 deaths due to acute myeloid leUnited Kingdomemia in United States in the year 2022. The statistics involve a large percentage of the adult population and they require proper medical treatment to increase their life expectancy.

Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to drive market growth. For instance, in December 2020, the LeUnited Kingdomemia and Lymphoma Society (LLS) initiated a collaboration to form alliances with leading cancer institutions and foundations to co-fund nearly USD 17 million in research grants, to progress the research in finding effective treatment options for patients with leUnited Kingdomemia, lymphoma, myeloma, and other blood cancers.

Furthermore, in June 2021, Jazz Pharmaceuticals plc received United States Food and Drug Administration (FDA) approval for Rylaze (asparaginase erwinia chrysanthemi (recombinant)-rywn) for use as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leUnited Kingdomemia (ALL) or lymphoblastic lymphoma (LBL) in pediatric and adult patients one month and older who have developed hypersensitivity to E. coli-derived asparaginase.

Thus, due to the above-mentioned developments, the market is expected to see robust growth.​

LeUnited Kingdomemia Therapeutics Market Competitive Analysis

The LeUnited Kingdomemia Therapeutics market is competitive and many global players are in the market. Product approvals are a key strategy adopted by key players to enhance their dominance in this market. Some of the major players in the market are Amgen Inc, AstraZeneca plc, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd, Incyte Corp, Johnson & Johnson, Novartis, Pfizer Inc, and Sanofi. which are providing these products across the globe.

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