The Transformative Growth of the US Acute Myeloid Leukemia Market

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What is the Size of US Acute Myeloid Leukemia Industry?

US Acute Myeloid Leukemia Market is expected to grow at a CAGR of ~ % in 2022 and is expected to reach ~USD Mn by 2028. The US Acute Myeloid Leukemia market is the rapid advancement in precision medicine and targeted therapies. The emergence of innovative treatments tailored to the genetic and molecular characteristics of individual AML patients has transformed the treatment landscape. Targeted therapies, such as FLT3 and IDH inhibitors, capitalize on specific genetic mutations driving AML, resulting in higher response rates and improved outcomes compared to traditional approaches.

Precision medicine's ability to identify the most effective treatment for each patient not only enhances therapeutic efficacy but also reduces unnecessary treatments, mitigating side effects and improving overall quality of life. This paradigm shift is bolstered by technological progress in molecular profiling techniques like next-generation sequencing, allowing for accurate genetic profiling and treatment customization.

Furthermore, regulatory support and accelerated approval pathways for targeted therapies have expedited their availability to patients. Pharmaceutical companies' increasing investment in research and development of novel agents, along with collaborations between academia and industry, leads to grow this market even more.

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US Acute Myeloid Leukemia Market by treatment type

The market is segmented by Treatment type into Chemotherapy, Targeted Therapy, Hormone Therapy, Immunotherapy and Others. Targeted Therapy is the dominant segment in the US Acute Myeloid Leukemia market in 2022. Specialty Centers, dedicated to the diagnosis, treatment, and management of specific medical conditions like AML, offer a concentrated and specialized approach to patient care. Their dominance in the AML market is driven by their unique capabilities to provide comprehensive and tailored treatments that address the complex needs of AML patients.

US Acute Myeloid Leukemia Market by end -user industry

The market is segmented by End-User into Hospitals, Homecare, Specialty Centers, Pharmacies and Others. Among these, Specialty Centers are the dominant End-User in the US Acute Myeloid Leukemia market in 2022. Specialty centers have a higher level of expertise and experience in treating specific types of cancer, including acute leukemia. They typically have specialized medical professionals, including hematologists and oncologists, who are well-versed in the latest treatment protocols and research. These centers are equipped with state-of-the-art diagnostic and treatment facilities that are specifically tailored to the needs of leukemia patients. This can include advanced imaging technologies, specialized laboratories, and access to cutting-edge therapies.

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US Acute Myeloid Leukemia companies market by Region

The US Acute Myeloid Leukemia market is segmented by Region into North, South, East, West. The dominance region is North in the US Acute Myeloid Leukemia Market in 2022. the North region often benefits from a higher level of funding for medical research, including AML. Federal funding agencies, private foundations, and pharmaceutical companies frequently channel resources into institutions within this region, allowing for greater research capabilities and clinical trials infrastructure.

Competition Scenario in US Acute Myeloid Leukemia Market

The US acute myeloid leukemia market was characterized by the presence of several prominent pharmaceutical companies and biotechnology firms striving to establish their presence and gain a competitive edge.

Larger corporations, smaller biotechnology companies making significant contributions to the AML landscape. Companies like Agios Pharmaceuticals and Daiichi Sankyo were gaining attention for their novel therapies targeting AML-associated mutations. These players are often at the forefront of introducing precision medicine approaches to AML treatment, taking advantage of advancements in genetic profiling and molecular diagnostics.

The competition is further intensified by research collaborations and partnerships between pharmaceutical companies, academic institutions, and research organizations. These collaborations aimed to combine resources, expertise, and insights to accelerate the development of effective therapies.

What is the Expected Future Outlook for the Overall US Acute Myeloid Leukemia market?

The US Acute Myeloid Leukemia market was valued at USD ~Million in 2022 and is anticipated to reach USD ~ Million by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022- 2028. Pharmaceutical companies have been actively researching and developing novel therapies for Acute Myeloid Leukemia, with a focus on improving patient outcomes and reducing the side effects associated with traditional treatments like chemotherapy.  The approval of new drugs, such as FLT3 and IDH inhibitors, has offered fresh therapeutic avenues for specific subsets of Acute Myeloid Leukemia patients with genetic mutations.

The future outlook for the US Acute Myeloid Leukemia market is anticipated to be influenced by a combination of factors including advancements in treatment options, evolving regulatory landscapes, and a growing understanding of the molecular basis of Acute Myeloid Leukemia. The market has been witnessing a shift towards personalized medicine, with increasing emphasis on targeted therapies and precision medicine approaches.

Furthermore, the integration of innovative technologies like next-generation sequencing (NGS) has enhanced our understanding of Acute Myeloid Leukemia’s molecular complexities, allowing for better patient stratification and treatment selection. This trend toward molecular profiling and personalized treatment regimens is likely to continue shaping the market landscape.

However, challenges persist. Despite progress, Acute Myeloid Leukemia remains a difficult-to-treat disease with a high relapse rate. Overcoming drug resistance and developing effective strategies for patients who do not respond well to existing therapies remain critical areas of focus.

Additionally, the cost of novel therapies and access to these treatments could also impact their adoption and availability. The regulatory environment, including expedited pathways for drug approvals, continue to influence market dynamics.

Top 3 US Pharmaceutical Companies and Their Strategies in US Acute Myeloid Leukemia Market

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US Acute Myeloid Leukemia Market is growing due to advancement in treatment approaches, increase healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population.

Story Outline

• Pfizer Inc.- An American multinational company with the highest annual revenue of around 100 billion US$ in 2022 in the drug market. The company has made significant contributions to the US Acute Myeloid Leukemia Market through a sophisticated, robust, agile manufacturing infrastructure and investment in research and development.

• Brystol Myers Squibb- One of the largest American pharmaceutical companies which consistently ranks on the Fortune 500 list of the largest US corporations. The company’s mission is to discover, develop, and deliver innovative medicines that help patients as well as prevail over serious diseases.

• Novartis AG- The company with the fourth-largest revenue in the drug market which is focused to deliver high-value medicine that alleviate society’s greatest disease burdens through technology leadership in R&D and novel access approaches.
• The US Acute Myeloid Leukemia Market is expected to grow at CAGR of 10.5% in the forecast period 2022-2028.

The Acute Myeloid Leukemia Market of US is driving growth at an amazing level. This surge is a result of advancement in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population.

Various pharmaceutical companies are actively shaping this growing market with their strategies and innovations.

This article provides an in-depth look at major pharmaceutical companies with their strategies and innovations.

1.Pfizer Inc.

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Pfizer Inc. is an American multinational pharmaceutical company and headquartered at The Spiral in Manhattan, New York City. The company has made significant contributions to the US Acute Myeloid Leukemia Market through a sophisticated, robust, agile manufacturing infrastructure and investing in research and development.

The company employs more than 30,000 employees worldwide, have 35+ manufacturing sites, 300+ external suppliers, and have reached more than 180 countries. Pfizer tops the list of drug market by achieving a revenue of approx. 100 billion USD in 2022.

Pfizer has made significant contributions to the US acute Myeloid Leukemia Market. Some notable contributions are, in April 2017, the development and approval of a targeted therapy called “Rydapt”, which is an oral kinase inhibitor that targets multiple enzymes, including FLt3, which is often mutated in AML patients. The drug was approved by FDA in April 2017 for use in combination with Chemotherapy.

Furthermore, MYLOTARG is approved in combination with daunorubicin and cytarabine for the treatment of patients aged 15 and above with previously untreated, de novo, CD33-positive acute myeloid leukemia (AML), except Acute Promyelocytic Leukemia (APL).

The company’s purpose is “Breakthroughs that change patients' lives—fuels everything we do and reflects our passion for building on our legacy as one of the greatest contributors of good to the world.

The company says that its purpose ensures that its patients remain at the center of all that they do. They live with their purpose by sourcing the best science in the world; partnering with others in the healthcare system to improve access to their medicines.

Pfizer believes in growing partnerships with innovators to initiate forward great science and continually seek new partners that are actively researching bold scientific ideas. In December 2022, Pfizer announced its collaboration with Gero’s machine learning technology platform to discover potential therapeutic targets for fibrotic using large-scale human-based data.

Pfizer’s continuous clinical trials and collaboration with healthcare institutions and research organizations has majorly contributed in advancing Acute Myeloid Leukemia Market and the development of novel treatment strategies.

2.Bristol Myers Squibb

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The Bristol Myers Squibb Company, is an American multinational pharmaceutical company headquartered in Princeton, New Jersey. BMS is one of the world’s largest pharmaceutical companies and consistently ranks on the Fortune 500 list of the largest US corporations.

The company employs more than 34,000 across more than 86 locations worldwide. The company’s revenue in 2022 was approximately 46 bn USD.

Their mission is to discover, develop, and deliver innovative medicines that help patients as well as prevail over serious diseases. Bristol believes in the power of science to address some most challenging diseases of today's world.

Bristol Myers is majorly known for its contributions to oncology, and immunology and its involvement in Acute Myeloid Leukemia Market with its broader focus on cancer treatments.

The significant development of BMS can be noted from June 2021, Bristol Myers Squibb received approval from European Commission for Onureg, a Frontline oral maintenance therapy for adult patients with acute Myeloid Leukemia who achieved their first complete remission (CR) or CR with incomplete blood count recovery following intensive induction chemotherapy. Onureg is expected to increase sales and product revenue, thereby increasing the US Acute Myeloid Leukemia Market growth.

Furthermore, the strategic cooperation between Evotec and Bristol Myers Squibb has grown in order to create a pipeline for programs addressing more neurological illnesses. In order to find altering therapies for a variety of neurodegenerative disorders, the firms started working together in 2016. The eight-year extension is intended to strengthen the strategic partnership even more.

3.Novartis AG

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Novartis AG is a healthcare company that majorly focuses on the discovery, development, manufacture and marketing of prescription and generic pharmaceutical and eye care products. Novartis offers generic medicines and biosimilars through Sandoz. The company conducts its research through The Novartis Institute for Biomedical Research (NIBR).

Novartis is one of the largest pharmaceutical companies in the world and the fourth largest by revenue in 2022, which was approx. 50.500 billion USD.

The company is functioning in more than 150 locations with around 1,10,000 employees working worldwide.

Novartis's strategy as a focused medicines company is to deliver high-value medicine that alleviates society’s greatest disease burdens through technology leadership in R&D an novel access approaches.

Novartis contribution to Acute Myeloid Leukemia Market includes, FDA approval of Novartis Scemblix (asciminib), with novel mechanism of action for the treatment of Leukemia in October,2021.

Furthermore, through their open approach Novartis is focusing on new technologies to develop next generation therapeutics. Currently, Novartis is working with Orionis Bioscience to find new targets at a genome-wide scale.

By combining development and drug discovery with innovation, they aim to achieve tenuous targets and to launch novel small molecule therapy for Acute Myeloid Leukemia patients more quickly. Thus driving a steered growth for the US Acute Myeloid Leukemia Market.

US Acute Myeloid Leukemia Market Expected to Reach 1 Billion US$ by 2028

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The US Acute Myeloid Leukemia Market is poised for a steered growth due to advancement in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population.

Story Outline

• Advancement in treatment approaches such as targeted therapies, checkpoint inhibitors, personalized medicines, and immunotherapies, help to enhance treatment efficiency along with minimizing the side effects of the particular treatment and drives market growth.
• Rise in healthcare cost and expenditure led to a rise in number of medical insurers which decreases financial barriers and provides cost-effective treatments to AML patients.
• Increased investments in research and development leading to new and innovative product launches and advanced treatment options, which increases consumer satisfaction hence leading to market growth.
• Increased population growth in US led to an increased number of Acute Myeloid Leukemia cases, resulting in higher demand for treatment options, diagnostics services, and supportive care.

US Acute Myeloid Leukemia Market is expected to grow at a CAGR of 10.5% in the forecast period (2022-2028) is being driven by advancements in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population. This article will provide information about the growth drivers of the US Acute Myeloid Leukemia market in detail.

1.Advancement in treatment approaches leading to high patient satisfaction, survival and remission rates.

Click to read full article: US Acute Myeloid Leukemia growth rate

Acute Myeloid leukemia is one of the most common types of Leukemia in adults. Acute Myeloid Leukemia represents 1% of all the new cancer diagnoses found annually in US and has a five-year survival rate of around 29%.

The rising cases of Acute Myeloid Leukemia in US is expected to drive growth in US Acute Myeloid Leukemia Market. According to the American Society of Clinical Oncology in 2021, around 20,250 people (11,230 men and 9,010 women) were diagnosed with Acute Myeloid Leukemia. The American Cancer Society estimates 59,600 new cases and around 23,709 deaths from leukemia of all kinds in 2023.

Advancements in treatment approaches are really important to the US Acute Myeloid Leukemia Market. The innovations such as targeted therapies, checkpoint inhibitors, personalized medicines, and immunotherapies, help to enhance treatment efficiency along with minimizing the side effects of the particular treatment.

By personalizing therapies to patients' molecular and genetic profiles, it is seen that treatment outcomes improve, leading to high patient satisfaction, survival, and remission rates.

With the help of these technologically advanced treatments around 60%-80% of adults of age 60 years or younger and around 50% -65% of those who are above the age of 60 achieved complete remission after receiving the treatments.

The positive impact of these outcomes motivates physicians to utilize these advancements to the utmost. This in return attracts more investment in the US Acute Myeloid Leukemia market.

2.Increasing number of medical insurers providing affordable treatment options to patients, driving the growth of US Acute Myeloid Leukemia market.

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The rise in healthcare expenditure in US is majorly contributing to US Acute Myeloid leukemia Market of US. As the spending on healthcare increases the diagnosed patients get easy and greater access to advanced diagnostics tools, specialized treatments, targeted treatments, and therapies.

There is seen a sudden rise in healthcare expenditure because of the rise in cost of healthcare facilities in US. The record from 2001-2022 shows that the cost of healthcare and medical services has grown at a Consumer Price Index (CPI) of around 3.6% and the CPI of goods and services has grown around 2.6%.

This shows that the cost of healthcare and medical amenities increases at a faster rate as compared to the cost of other goods and services.

US has highest healthcare costs in the world, with an average of around $12800 per person. As noted in 2021, around 300 million people i.e., over 91% of the population of US have access to health insurance with an assortment of both public and private sector insurers.

More people with medical insurance means improved access to healthcare services without being burdened by the full cost of treatments like Acute Myeloid Leukemia.

This will also lead to an increase in clinical trials and will help advance research and development bloom leading to improved treatment adherence and growth of the Acute Myeloid Leukemia market in US.

3.Does investment in research and development enough to drive market growth?

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With a large number of companies involved in the Research & Development process and new product launches, the US Acute myeloid Leukemia Market is expected to drive growth in the forecast period 2022-2028). By investing in R&D, major pharmaceutical companies and research institutions constantly strive to discover new therapy agents, effective treatment approaches, and novel drug compounds for AML patients.

Researching industry accounts for around 70% of US medical and health investment in R&D in 2020. Federal government investments account for nearly one quarter (25%) and the National Institute of Health (NIH) alone accounts for around 20% of all such investments in 2020, out of all medical and health R&D.At this level, NIH stands as the second largest funder in terms of investment in medical and health research after the biopharmaceutical industry.

The new product launches, for instance, in December 2017, Pfizer announced that the Food and Drug Administration (FDA) of US approved Bosutinib for the treatment of patients with chronic myelogenous leukemia (CML).

Similarly, in January 2020 Bristol Myers Squibb received the US FDA’S approval for Onureg for the treatment of adult patients with AML. Moreover, Novartis AG is developing a combination drug (MBG453, Venetoclax, Azacitidine) for the treatment of Acute Myeloid Leukemia, which is in phase 2 of clinical trials. Such positive initiatives for product launches and developments are supporting the growth of the US Acute Myeloid Leukemia Market.

4.Population growth leading to increased AML diagnosis, thus giving rise to the demand for treatment options, diagnosis services, etc., benefitting market growth.

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Acute Myeloid Leukemia is noted as one of the most common types of Leukemia, and its diagnostics are rising globally at a fast rate. Talking about US the constant rise in population in the region is one of the most common reasons of increasing Leukemia cases, which can drive growth of US Acute Myeloid Leukemia Market of US at an expected CAGR of 10.05% in the forecast period (2022-2028).

According to the data the population of US as of 2022, was approx. 336 million; and approx. 330 million in 2021. The population growth rate of US in 2022 was around 0.38% as compared to growth rate in 2021 at around 0.30%. as of 2023, the current growth rate is 0.50%.

As the population of US is rising constantly, the number of Acute Myeloid Leukemia cases are also rising, which results in increased demand for better treatment options, advanced diagnostics services, and supportive care.

The huge pool of patient growth not only led to increase the demand of already existing treatments but also implements the use of research and development to discover more effective therapies.

This demographic shift demands urgency, accessible and advanced treatment options which ultimately bolster market growth creating a multifaceted demand for Acute Myeloid Leukemia related services, which drives market growth and initiates advancements in research and treatment.

Conclusion

The US Acute Myeloid Leukemia (AML) market is poised for substantial growth driven by multiple factors. Advancements in treatment approaches, such as targeted therapies and immunotherapies, are enhancing treatment efficiency while minimizing side effects, leading to higher patient satisfaction and improved outcomes.

Increased investments in research and development are resulting in innovative product launches and advanced treatment options, further boosting market expansion.

Additionally, the constant growth in the US population is driving higher Acute Myeloid Leukemia diagnoses, creating a strong demand for improved treatment options and diagnostics services. Overall, these dynamics are projected to propel the US AML market towards reaching an impressive 1 billion US dollars by 2028.