Global Chronic Myelogenous Leukemia (CML) Therapeutics Market:
About this market
Technavio’s chronic myelogenous leukemia (CML) therapeutics market analysis considers sales from targeted therapy, chemotherapy, and immunotherapy. Our analysis also considers the sales of chronic myelogenous leukemia (CML) therapeutics in Asia, Europe, North America, and ROW. In 2018, the targeted therapy segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing number of approvals for orphan drug destinations will play a significant role in the targeted therapy segment to maintain its market position. Also, our global chronic myelogenous leukemia (CML) therapeutics market report looks at factors such as advent of novel therapies, patient assistance programs for TKIs, and strategic alliance. However, patent expiration of TKIs, availability of substitutes, and late diagnosis of CML may hamper the growth of the chronic myelogenous leukemia (CML) therapeutics industry over the forecast period.
Global Chronic Myelogenous Leukemia (CML) Therapeutics Market: Overview
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 agreement among educational institutions, support groups, pharma, and diagnostic companies. Furthermore, the collaborations with foundations and support groups also contribute to market growth by increasing patient adherence by reducing the cost burden. In March 2019, BMS in collaboration with The Max Foundation to assist cancer patients who are unable to access the treatment. This will lead to the expansion of the global chronic myelogenous leukemia (CML) therapeutics market at a CAGR of almost 6% during the forecast period.
Development of diagnostic tests and predictive markers
The companies that develop diagnostic methods are conducting research on developing new diagnostic testing methods that could help in an early detection of CML for treating diseases effectively using therapeutics. These developments include diagnostic kit in oncology which can effectively monitor the molecular response of the indication at an early stage. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global chronic myelogenous leukemia (CML) therapeutics market during the forecast period 2019-2023, click here.
With the presence of several major players, the global chronic myelogenous leukemia (CML) therapeutics market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading chronic myelogenous leukemia (CML) therapeutics manufacturers, that include 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., Teva Pharmaceutical Industries Ltd.
Also, the chronic myelogenous leukemia (CML) therapeutics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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