The Chronic Myelogenous Leukemia Therapeutics Market is being driven by Advent of novel therapies
The Chronic Myelogenous Leukemia Therapeutics Market is expected to grow at a CAGR of 5.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1935.5 million. The Chronic Myelogenous Leukemia (CML) therapeutics market faces a significant challenge due to the limited number of approved treatments for this prevalent disease. In response, market participants are investing heavily in the research and development of novel therapeutics to expand the treatment landscape. This focus on innovation aims to improve patient outcomes and adherence by reducing side effects. Notably, several late-stage clinical trials are underway for potential new treatments, including Novartis' asciminib (ABL001), an allosteric inhibitor of BCR-ABL1 tyrosine kinase activity, which is expected to enter the market during the forecast period.
Get more information on Chronic Myelogenous Leukemia Therapeutics Market by requesting a sample report
The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
146 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
|
Market growth 2024-2028 |
USD 1935.5 million |
|
Market structure |
fragmentation |
|
YoY growth 2023-2024(%) |
5.2 |
|
Key countries |
US, Germany, UK, China, and Canada |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Chronic Myelogenous Leukemia (CML) Therapeutics Market is witnessing significant advancements driven by novel treatments for the Philadelphia Chromosome and BCR-ABL Fusion Gene. Tyrosine Kinase Domain inhibitors are leading the market, but resistance mechanisms pose a challenge. Clinical trials from Phase I to III, real-world evidence, comparative effectiveness research, and health economics studies are crucial. Patient education, empowerment, digital health, and precision oncology are transforming care. AI, machine learning, data analytics, and liquid biopsy are revolutionizing diagnosis and treatment. New technologies like checkpoint inhibitors, adoptive cell therapy, gene editing, targeted drug delivery, and pharmacokinetic/pharmacodynamic profiles are under investigation. Safety, efficacy, long-term follow-up, and patient reported outcomes are key considerations. Drug interactions and adverse events are important safety concerns.
The Chronic Myelogenous Leukemia (CML) therapeutics market is a significant segment of the global pharmaceuticals industry, focusing on Tyrosine Kinase Inhibitors (TKIs), clinical trials, targeted therapy, precision medicine, and personalized medicine, including CAR T-cell therapy. The market's growth is driven by demographic trends, such as an aging population, with the global population aged 60 years and above projected to increase significantly by 2050, accounting for nearly one-quarter of the US population and reaching a similar ratio in Europe by 2030. This demographic shift will escalate the demand for innovative CML treatments, thereby propelling market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
