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Global Blood Cancer Drugs Market worth $55.6 billion by 2025: Major Key Players Johnson & Johnson Inc., Amgen Inc., Bayer AG., Pfizer Inc., Eli Lily & Co., AstraZeneca, AbbVie Inc. and other.
Blood Cancer Drugs Market
The demand for blood cancer drug is primarily driven by growing death incidences by blood cancer, and continuous innovation for developing novel treatments with the help of several ongoing clinical trials. Moreover, increasing research and development of biological and targeted therapies as treatment will spur the blood cancer drugs market during the upcoming period. However, the high price of drugs and the stringent government policies will limit the growth of blood cancer drugs market during the forecast period.
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Most of the blood cancers start in the bone marrow, where blood is produced. In blood cancer the growth of normal blood cells is dislodged by the uncontrollable growth of abnormal blood cells. These cancerous cells prevent the blood from performing many of its functions. Hence, the existing treatments of blood cancer are being the foundation for developing the new drugs. The steady flow of the blood cancer drugs has created opportunity for research and development in the existing market. For instance, Amgen Inc. received approval for BLINCYTO in July 2017, which is used in treating B-cell precursor Acute Lymphoblastic leukemia. Similarly, European blood cancer drugs market witnessed the approvals of Gazyvaro, by Roche AG that is used in treating advanced follicular lymphoma. Also, novel technologies like CAR-T are likely to be launched this year.
The global blood cancer drugs market is segmented into blood cancer type, drugs and treatment approaches. On the basis of blood cancer type, the global blood cancer drugs market is segmented into leukemia, lymphoma and myeloma. The lymphoma segment is expected to drive the majority market of blood cancer drugs followed by leukemia. The global market of this segment is primarily driven by the increasing prevalence of lymphoma, and presence of effective treatments in the market. On the basis of drugs, the global blood cancer drugs market is further categorized into Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), and Others. This continuous innovation for treating various sub-types of blood cancers has led to the development of novel types of treatments. For instance, the combination of Revlimid and Velcade has emerged as the preferential drugs in trials for treating multiple myeloma.
On the basis of treatment approaches the global blood cancer drugs market is further segmented into Chemotherapeutic, mAbs/Targeted Therapies, and Immunotherapeutic. Due to availability of variety of chemotherapeutic agent in the market chemotherapeutic drugs are expected to hold the higher share in blood cancer drugs market. Moreover, their effectiveness for the treatment of blood cancer and increasing number of cancer patients globally has garnered more demand for chemotherapeutic drugs throughout the world.
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Geographically, the global blood cancer drugs market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America dominates the blood cancer drugs market which is followed by Europe and Asia Pacific. Favorable reimbursement policies, surge in R&D investments of various companies, as well as the increase in the number of blood cancer treatments are some of the major factors responsible for the growth of North America’s blood cancer drugs market. Moreover, Asia-Pacific region has been identified as the lucrative market for the for-blood cancer drugs due to increasing awareness of the use of these drugs, increased healthcare expenditure, and rising per capita disposable income. These are some of the major factors which are influencing the growth of the blood cancer drugs in Asia-pacific region.
Major Key Players:
• Johnson & Johnson Inc.
• Amgen Inc.
• Bayer AG.
• Pfizer, Inc.
• AbbVie Inc.
• Roche Holding AG.
• Celgene Corporation
• AstraZeneca
• Novartis AG
• GlaxoSmithKline PLC
• Merck & Co., Inc.
• Eli Lily & Co.
Key Findings from the study suggest blood cancer drugs in the market are much innovative and manufacturers are progressively concentrating on innovation of combination drugs. Companies are in a stage of development of new drugs in order to provide novel treatments for blood cancer. The immunotherapy segment is anticipated to grow at a high growth rate over the forecast period. The growth of this segment is primarily driven by increased awareness for its use as an alternative and effective treatment for blood cancer. North America is presumed to dominate the global blood cancer drugs market over the forecast period. Asia Pacific region which shows signs of high growth potential owing to the booming economies of India, and China.
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Key Segments:
Blood cancer drugs by Blood Cancer Type
• Lymphoma
• T-cell Lymphoma
• Leukemia
• Myeloma
Blood cancer drugs by Drugs
• Rituaxan/Mabthera (Rituximab)
• Gleevac/Glivec (Imatinib)
• Revlimid (Lenalidomide)
• Velcade (Bortezomib)
• Tasigna (Nilotinib)
• Pomalyst (Pomalidomide)
• Vidaza (Azacitidine)
• Kyprolis (Carfilzomib)
• Adcetris (Brentuximab Vedotin)
• Others
Blood cancer drugs by Treatment Approaches
• Chemotherapeutic
• mAbs/Targeted Therapies
• Immunotherapeutic
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
Contact us
Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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