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Market Definition
Acute Myeloid Leukemia (AML) is a malignant disease that occurs inside the bone marrow and rapidly spreads into the blood, mostly WBCs (White Blood Cells). It can affect different body parts like the liver, central nervous system, lymph nodes, spleen, and testicles. AML, among all forms of leukemia, has the lowest OS (overall survival) rate, i.e., five years, and can be fatal if left untreated. Some common symptoms of AML include breathlessness, skin discoloration, fatigue, weight loss, high body temperatures, & nosebleeds.
Chemotherapy, immunotherapy, targeted therapy, & hormonal therapies, and surgeries, are the most common AML treatments available globally, which are usually combined with stem cell transplants to reduce complications, enhance efficacy, and boost the immune system.
Market Insights
The Global Acute Myeloid Leukemia (AML) Market is projected to grow at a CAGR of around 13% during the forecast period, i.e., 2022-27. The market growth is fueled mainly by surging instances of genetic mutations, the growing geriatric population, & sedentary lifestyles that have resulted in the rapid rise in AML patients worldwide. As a result, governments and pharmaceutical companies of different countries worldwide are actively participating & massively investing in developing new drugs for its treatment.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 13% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Rest of South America | |
| Europe: Germany, The UK, Germany France, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific | |
| Middle East & Africa: GCC, South Africa, Rest of Middle East and Africa | |
| Key Companies Profiled | AstraZeneca PLC, AbbVie Inc., Baxter International Inc., Bayer AG, Bristol Myers Squibb, Eisai Co. Ltd., Eli Lilly and Company, F. Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG, Pfizer Inc., Sanofi S.A., Others |
| Unit Denominations | USD Million/Billion |
Moreover, remarkable improvements in existing healthcare facilities and rigorous R&D activities in the area of oncology are also driving the global market. In addition, the increasing public awareness about various available alternatives for AML treatment, coupled with the extensive adoption of targeted & combination therapies, are also promoting the overall market expansion.
However, the high costs associated with stem cell transplants, the risk of side effects from chemotherapy drugs, and stringent regulations on drug approvals are the prominent factors that might restrain the growth of the Global Acute Myeloid Leukemia (AML) Market through 2027.
Impact of Covid-19 on the Global Acute Myeloid Leukemia (AML) Market
The impact of the Covid-19 pandemic has been catastrophic for most industries worldwide, with the healthcare sector witnessing immense pressure and declining demand for Acute Myeloid Leukemia (AML) therapeutic products in 2020 amidst the crisis.
During the pandemic, governments of different countries imposed lockdowns & stringent movement restrictions, and all healthcare priorities shifted to attending only to Covid-19 cases. The temporary halt on various research & development activities associated with AML drugs & therapies, coupled with an exponential focus on developing cures & vaccines for coronavirus, considerably hampered the growth of the Global Acute Myeloid Leukemia (AML) Market.
However, some studies stated that patients with blood cancer, especially those suffering from AML, lymphoma, & multiple myeloma, are at a higher risk of getting affected by Covid-19. As a result, AML treatment was performed regularly amidst the crisis, and therefore, there was a limited impact of the Covid-19 pandemic on AML therapeutic sales in 2020.
