Updated on 18 December 2015
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The treatment market for Acute Myeloid Leukemia (AML) will rapidly expand in value from $342.7 million in 2014 to reach $932.6 million by 2024, representing a Compound Annual Growth Rate (CAGR) of 10.5%, says research and consulting firm GlobalData.
According to the company's latest report, this huge increase, which will occur across the seven major markets (7MM) of the US, Japan, the UK, Spain, Italy, France and Germany, will primarily be due to the launch of new therapies for AML patients with high unmet needs.
Dr Sorcha Cassidy, GlobalData's Analyst covering Oncology and Hematology, says the greatest unmet need in the market is improving the overall survival rate of elderly AML patients which, compared to that of younger favorable-risk patients, is substantially lower.
Dr Cassidy comments: "Fulfilling this unmet need is a safe route to regulatory approval and commercial success. In this way, one of the major drivers of AML treatment sales across the 7MM will be the launch of premium-priced therapies for elderly AML patients, such as Ambit's quizartinib.
"Other growth drivers will include an increasing branded drug treatment rate, a rising number of refractory/relapsed cases of AML across all age groups, and a growing desire to develop immunotherapies to treat AML patients."