The global “leukemia therapeutics market” size is projected to reach USD 27.78 billion by 2027, exhibiting a CAGR of 8.1% during the forecast period. The increasing demand for enhanced treatments for blood cancers amid the COVID-19 pandemic will accelerate the market, states Fortune Business Insights™ in its report, titled “Leukemia Therapeutics Market Size, Share COVID-19 Impact Analysis, By Type of Leukemia (Chronic Myeloid Leukemia (CML), Chronic Lymphocytic Leukemia (CLL), Acute Lymphocytic Leukemia (ALL), Acute Myeloid Leukemia (AML), and Others), By Treatment Type (Chemotherapy, Targeted Therapy, Immunotherapy, and Others), By Route of Administration (Oral Mode and Injectable Mode), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, and Others), and Regional Forecast, 2020-2027”. Cancer patients are at a heightened risk of contracting the coronavirus and likely to experience severe effects of the infection due to their weakened immune systems.
According to a study conducted by the UK Coronavirus Cancer Monitoring Project (UKCCMP), patients with leukemia, multiple myeloma, and lymphoma are highly susceptible to COVID-19 and leukemia patients have twice the chance of dying from the virus. The study found that patients with blood cancer are 57% more likely to experience severe symptoms of COVID-19 than patients with other types of cancers. Given these and other similar findings, the demand for leukemia therapeutics has been soaring during the COVID-19 pandemic, with market players reporting increased sales. Bristol-Myers Squibb, for instance, announced that the sales of Sprycel, its treatment for chronic myeloid leukemia (CML) jumped 14% to USD 521 million in the first quarter of 2020. However, the disruption in the medical supply chain will lead the market to register a lower growth rate of 6.2% and touch a value of USD 16.15 billion in 2020.
As per the report findings, the estimated value of the global market stood at USD 15.21 billion in 2019. The main highlights of the report include:
- Calculated estimations about the upcoming trends and prospects in the market;
- Path-breaking research into the regional dynamics of the market;
- Comprehensive study of the factors driving and restraining the market; and
- Careful profiling and diagnosis of the key market players and their dominant strategies.
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