Chronic Eosinophilic Leukemia Market is Segmented By Drug Type (Gleevec, Imatinib, Interferon alfa, Hydroyurea, Cytoxan, Procytox, Oncovin, Others), By Route of Administration (Oral, Injectable), By Distribution Channel (Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) â Share, Size, Outlook, and Opportunity Analysis, 2022-2029.
Chronic Eosinophilic Leukemia Market is projected to reach a high CAGR during the forecast period (2022-2029).
Chronic eosinophilic leukemia is a subtype of clonal eosinophilia caused by a new genetic mutation or change in blood cells. It is also known as a hypereosinophilic syndrome (HES). This condition is known as a myeloproliferative neoplasm (MPN).
Chronic Eosinophilic Leukemia Market Dynamics
The chronic eosinophilic leukemia market is expected to grow due to increased awareness of the condition, increased investment by major players globally, increased government initiatives, and a robust product pipeline. Furthermore, the rising prevalence of various health conditions that result in chronic eosinophilic leukemia, such as cancer,autoimmune disorders, endocrine disorders, and adrenal disorders, is expected to drive the chronic eosinophilic leukemia market. Increased healthcare spending and increased cancer awareness by government and private organizations are expected to drive market growth. Furthermore, during the forecast period, R&D activities related to chronic eosinophilic leukemia are expected to present new opportunities.
Increase in prevalance of blood borne diseases in the market will drive the market growth
The market for chronic eosinophilic leukemia components is being pushed by an increase in cancer cases,autoimmune disorders,endocrine disorders and adrenal disorders. According to the National Cancer Institute, in June 2017, it was estimated that there would be approximately 62,130 new cases and 24,500 deaths due to leukemia in the United States.
The Autoimmune Related Diseases Association estimates that up to 50 million Americans suffer from an autoimmune disease at the cost of $86 billion per year. According to the United States Department of HHS, these diseases are the fourth leading cause of disability amid women in the United States and the eighth leading cause of death amid women aged 15 to 64.
Adrenal disorders affect approximately 100 to 140 people out of every million in developed countries.Secondary adrenal insufficiency is more prevalent, affecting 150 to 280 people per million people.(Source-National Institutes of Health).
Evidence suggests that the global burden of endocrine disorders is increasing due to an aging population, obesity, poor lifestyle and dietary habits. Endocrine disorders affect about 5% of the population in the United States.The exact prevalence of endocrine disorders in Indians is unknown. Thyroid disorders and diabetes are the most common endocrine disorders in India.Diabetes affects 11.8 percent of the Indian population, accounting for 72.96 million adult cases. In India's adult population, the overall prevalence of hypothyroidism is around 10.9 percent.
Furthermore, the burden of blood-borne diseases has increased in recent years, along with the rising prevalence of geriatric population, raising public awareness about treatment available, and several government initiatives related to chronic eosinophilic leukemia , all of which are driving the overall market.This contributes to the growth of the global chronic eosinophilic leukemia market.
High cost of treatment is likely to hamper the market growth
The lack of awareness of hypereosinophilic syndrome in emerging regions and the high cost of treatment and poor health care infrastructure in developing nations is expected to limit the hypereosinophilic syndrome market over the projection period. High cost of treatment is the major drawback which is likely to hamper the market . Majority of under developed and developing countries are facing this problem due to less share from the government sector. There is a lot of pressure to cut costs and show value. Political uncertainty and persistent economic stress in many countries are jeopardizing public health care funding. In less developed countries, a lack of cost-effective drugs has influenced population health and resulted in a low average life expectancy.
COVID-19 Impact Analysis
Over the projection period, the increased prevalence of COVID-19 is expected to impact chronic eosinophilic leukemia market growth. The majority of pharmaceutical businesses have suffered considerable losses due to the coronavirus outbreak, which has hampered the chronic eosinophilic leukemia market. The COVID-19 pandemic has had a remarkable influence on the global economy; this has significantly impacted production processes and demand across multiple verticals and disrupted the supply chain. During the initial phase of the COVID, many businesses ceased manufacturing and supply operations. However, the current COVID-19 situation is expected to return to normalcy as medical professionals and health authorities in the countries take the necessary steps to combat the virus.
Chronic Eosinophilic Leukemia Market Segment Analysis
The injectables segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Over the forecast period, the injectables segment is expected to increase . The rising number of autoimmune disorders, the rising number of chronic eosinophilic leukemia cases, and the rising frequency of chronic disease-induced diabetes and cancer contribute to the segment's rise. For example, According to WHO, Cancer is the largest cause of death in the world, with approximately 10 million fatalities expected by 2020.
Furthermore, benralizumab as the first line of eosinophilia treatment.Major key players Like GlaxoSmithKline,Bristol-Myers Squibb are also doing R&D in this segment so these factors play a key role in development of this segment.
Chronic Eosinophilic Leukemia Market
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Metrics |
Details |
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Market CAGR |
Chronic Eosinophilic Leukemia Market is projected to reach a high CAGR during the forecast period (2022-2029). |
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Segments Covered |
By Drug Type, By Route of Administration, By Distribution Channel, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
Chronic Eosinophilic Leukemia Market Geographical Analysis
North America region holds the largest market share of global chronic eosinophilic leukemia market
Due to rising cancer occurrences and rising healthcare concerns, North America is likely to hold a significant market position in the global chronic eosinophilic leukemia market. According to the National Cancer Institute, an estimated 1.7 million new instances of cancer were identified in 2018 in which these medications were used, boosting the imatinib drug market. Furthermore, the chronic eosinophilic leukemia market in North America is expected to benefit from increased R&D spending in healthcare (oncology). Furthermore, rising healthcare spending and the well-established healthcare infrastructure contribute to the overall regional market's growth. Furthermore, the presence of many key players in North America is a major factor driving market growth.
However, Asia-Pacific is assessed to grow the fastest during the forecast period, owing to increased healthcare spending and increased health-care spending, and technological advancements which contribute to the growth of the Asia-Pacific chronic eosinophilic leukemia market.
Chronic Eosinophilic Leukemia Market Competitive Landscape
The chronic eosinophilic leukemia market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Novartis,GlaxoSmithKline plc,Bristol-Myers Squibb Company,F.Hoffmann-La Roche Ltd,Eli Lilly and Company, Hikma Pharmaceuticals plc, Cipla Inc, Amneal Pharmaceuticals, LLC, Jiangsu Hengrui Medicine Co.Ltd, Bristol-Myers Squibb Company,Endo International Inc.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the chronic eosinophilic leukemia market globally. For instance May 2020, The US Food and Drug Administration (FDA) has given GlaxoSmithKline plc's (GSK) application for approval of Nucala (mepolizumab) in the treatment of individuals with Hypereosinophilic Syndrome (HES) in the US a priority review.
Novartis AG
Overview: Novartis India Ltd is an Indian based pharmaceutical company. The company is engaged in the trading of Drugs and Pharmaceuticals. It derives revenue from operations in India. The company focuses on three divisions namely Pharmaceuticals , eyecare and generic medicines.
Product Portfolio:
Imatinib: Imatinib, also known as Gleevec and Glivec (both marketed globally by Novartis), is an oral chemotherapy medication used to treat cancer. It is used to treat Philadelphia chromosome-positive (Ph+) chronic myelogenous leukemia (CML) and acute lymphocytic leukemia (ALL), certain types of gastrointestinal stromal tumors (GIST), hypereosinophilic syndrome (HES), chronic eosinophilic leukemia (CEL), systemic mastocytosis, and myelodysplastic syndrome.It is taken orally.
Frequently Asked Questions
What is the Projected CAGR value of the Chronic Eosinophilic Leukemia Market?
Chronic Eosinophilic Leukemia Market is projected to reach a high CAGR during the forecast period (2022-2029).
Which region controlled the global market during 2022-2029?
North America region Controls the Chronic Eosinophilic Leukemia Market during 2022-2029
Which is the fastest growing region in the Chronic Eosinophilic Leukemia Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period