Market Dynamics
Rising prevalence of cancer across globe
Cancer is a public health burden. According to the World Health Organization (WHO), cancer is the second leading cause of death globally. It furthers stated that an estimated 9.6 million death, i.e., 1 in 6 deaths were reported due to cancer in 2018. The American Cancer Society, on the other hand, estimated that more than 1.7 million new cancer cases were diagnosed in America in 2019. According to Cancer Research U.K., every year 3,67,000 new cancer cases are reported in the U.K.
Past few years, immunotherapy is widely used in cancer treatment. Immunotherapy boost or change the working of the patient’s immune system to find and attack cancer cells. Cell-based immunotherapies have proved to be useful for some types of cancers that have been resistant to radiation treatment and chemotherapy. Growing focus on the immune-oncology field has led to advanced immunotherapy products, such as CAR T-cell and immunomodulators with improved efficacy and low toxicity.
In cancer patients, immunotherapy plays a crucial role in maintaining the immune system as it targets infectious agents that can produce antibodies and cause cancer. Moreover, the rising preference of healthcare professionals towards immunotherapy over traditional therapeutic methods due to growing cancer cases and side-effects of present therapies is driving the immunotherapy demand.
Conclusively, growing cases of cancer globally are increasing the adoption of immunotherapy. Thus, contributing to the leukemia therapeutics market growth.
Immunotherapy pipeline and approvals offers lucrative opportunity for the market growth
The leukemia therapeutics pipeline is anticipated to provide advanced efficacy and better patient outcomes than existing treatment methods. This is attributed to the introduction of new drug classes, monoclonal antibodies, and histone deacetylase (HDAC) inhibitors to target receptors of multiple myeloma.
In September 2020, an immuno-oncology yearly landscape update was published in Nature Reviews Drug Discovery, which demonstrated the rapid growth in immuno-oncology preclinical & clinical development. This report stated, there was a 22% rise in immuno-oncology drugs in the development pipeline from 2019-2020. The analysis also revealed a 14% rise in active clinical trials involving Immuno-oncology agents in 2020 compared to 2019.
There are several immunotherapies available in the market approved by the FDA for the prevention of cancer. In March 2020, the U.S. FDA approved Bristol Myers Squibb for the combined immunotherapy of nivolumab and ipilimumab to treat hepatocellular carcinoma.
Additionally, the approval of novel immunotherapy drug forms such as vaccines and adjuvants and PD-1 and CTLA-4 checkpoint inhibitors for melanoma and Non-Small Cell Lung Cancer, respectively, are anticipated to create immense opportunities in the coming future. Factors such as the growing adoption of immunomodulators and CAR T-cell therapy, and new approvals and ongoing trials on immunotherapy drugs to reduce adverse effects, despite the impact of the unprecedented COVID-19 crisis is contributing to the growth of the cancer immunotherapy market during the forecast period.
Thus, contributing to the growth of the leukemia therapeutics market.
Development of bioinformatics tool to aid drug development
Currently, the drug discovery process within pharmaceutical companies focused on the discovery of a novel therapeutic agent and a new potential compound that modulates the activity of the identified target. Moreover, preclinical and clinical trials are a slow, often expensive, and risky process. Generally, these investigations take about 15 years and around USD 800 million to 1 billion to launch a compound on the shelf of the market. Therefore, there is a need for an effective and innovative approach to predict drug efficacy to strengthen the process of drug discovery.
The use of bioinformatic applications such as statistical algorithms can provide rationale methods for target identification, validation, and lead optimization. These tools not only help in drug discovery but also help in drug development. New technologies, such as molecular dynamics simulation, molecular docking, proteomics, and quantitative structure-activity relationship in clinical research aids in the fast and easy drug discovery process.
During preclinical investigations, the software helps in randomization to remove bias and to plan study design. Also, in clinical trials, electronic data capture, remote data capture, and electronic case report form (eCRF) this software is used to store the data. Software such as eclinical, Oracle clinical is helpful in statistical data analysis and clinical data management. After drug marketing, drug safety can be monitored by Oracle Argus or ARISg. This depicts that software can be used from the early stages of drug designing to drug development, clinical trials, and pharmacovigilance.
The growing adoption of a bioinformatics tool to improve drug development alternatives is expected to drive the growth of the market.
Regional Analysis
North america to dominate the leukemia therapeutics market during the forecast period
North America dominates the leukemia therapeutics market as the region is supported by the growing emphasis on leukemia. Cancer is one of the most dreaded diseases that has globally burdened humanity. Further, the prevalence of cancer across the American region is strikingly high. For instance, as reported by the National Cancer Institute, under the National Institute of Health (NIH), in 2020, an estimated 1.8 million new cases of cancer are expected to have been diagnosed within the United States and 606,520 patients amongst them are anticipated to meet fatal consequences.
According to estimated prevalence in 2020, the organization predicts that breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer are expected to account for a majority of cancer cases, descending order of prevalence. Moreover, it is fueled by constant support from the regional government to develop therapeutics to address the management of different forms of cancer.
For instance, the National Cancer Institute (NCI), under the National Institute of Health (NIH), funds and supports numerous research projects and initiatives to expand the use of immunotherapy to more types of cancer, to increase the efficacy of immunotherapy by coupling them with other treatment means, such as targeted therapy, chemotherapy, and radiation therapy and further, improve the safety of immunotherapy and eliminate the toxic side effects associated.
The U.S. is leading in pharmaceutical, and biotechnological companies, with a large number of installed medical equipment in diagnostic centers, hospitals, other medical facilities, and a huge presence of original equipment manufacturers. Moreover, the U.S. medical device industry is well-established, diversified, and provides a wide range of diagnostic and treatment devices for patients. Medical equipment comes with certain service life and, in some situations, requires maintenance or replacement. In line with this, the number of medical leukemia therapeutics service providers is increasing in the region. Thus, contributing to the growth of the regional market.
Segmental Analysis
Chronic myeloid leukemia segment dominated the market during the forecast period
Based on type, the global leukemia therapeutics market is segmented into Acute lymphocytic leukemia (ALL), Chronic lymphocytic leukemia (CLL), Acute myeloid leukemia (AML), and chronic myeloid leukemia (CML). The chronic myeloid leukemia (CML) segment dominates the market during the forecast period.
Chronic myeloid leukemia (CML) predominately affects the elderly population, caused mainly by a chromosome mutation that occurs spontaneously. Thus, the larger market share is significantly attributed to the increasing geriatric population, increasing prevalence of chronic myeloid leukemia, and advancement in the mode of treatments.
