Top Trends In Chronic Myelogenous Leukemia Therapeutics Market
The chronic myelogenous leukemia therapeutics market size will grow by USD 1.74 billion during 2019-2023.
The CML therapeutics market has witnessed a number of strategic alliances over recent years. Market vendors are focusing on collaborations to expand their distribution networks and reduce costs associated with the R&D of CML therapeutics. Collaborations among vendors are influencing market growth by increasing patient adherence by reducing the cost burden. For instance, the BMS recently collaborated with The MAX Foundation to provide free drugs to patients who are unable to access the treatment. The strategic alliances between vendors have also increased the development of diagnostic kits and testing services, which have resulted in the early diagnosis of the disease and increased adoption for the treatment. Effective alliances among companies will significantly fuel the growth of the CML therapeutics market size during 2019-2023.
Crucial chronic myelogenous leukemia therapeutics market trends such as the development of diagnostic tests and predictive markers will also influence market growth. The high unmet need is encouraging companies to research diagnostic testing methods that help in the early detection of CML. These developments include diagnostic kits in oncology to effectively monitor the molecular response of the indication at an early stage. Vendors are also introducing predictive biomarkers for CML for the intrinsic sensitivity of TKI drugs. For instance, HMGCLL1 is a predictive biomarker in CML for deep molecular response to imatinib therapy.
Similarly, microRNAs are used as biomarkers to study the progression of CML and the resistance to TKI drugs. These developments are expected to enhance the effectiveness of CML therapy drugs. As a result of these factors, the myelogenous leukemia therapeutics market will register a CAGR of nearly 6% during the forecast period.
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