Blood Cancer Drugs Market 2020 Global Research and Clinical Analysis | Amgen Inc., AstraZeneca PLC, Bayer AG, Celgene Corporation

The New report includes a detailed study of Global Blood Cancer Drugs Market. It is the result of a comprehensive research carried out keeping in mind the different parameters and trends dominating the global Blood Cancer Drugs Market. Both primary and secondary research has been carried out to arrive at the desired outcome. The primary research included feedback, opinion, and suggestion provided by the people and organization residing in the key markets as identified the industry experts.

The global blood cancer drugs market was valued at about $33 billion in 2018 and is expected to grow to $43.74 billion at a CAGR of 7.3% through 2022.

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Top Key Players Profiled in This Report:

Amgen Inc., AstraZeneca PLC, Bayer AG, Celgene Corporation, Eli Lilly

North America was the largest region in the blood cancer drugs market in 2018, followed by Europe. This region is expected to remain the largest during the next five years. The blood cancer drugs market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.

The blood cancer drugs market is being driven by the growing death incidences and increasing prevalence of blood cancer cases across the globe. Different types of blood cancers such as lymphoma, leukemia, myeloma and others have different risk factors where some can be controlled or prevented through drug therapies and others may lead to death. According to 2018 Bristol-Myers Squibb Company report, over 1.85 million new blood cancer cases are expected to be diagnosed across the globe in 2040, out of which 918,872 cases are from lymphoma, 656,345 from leukemia, and 275,047 cases myeloma. Furthermore the report estimated, in 2040, the approximate number of deaths worldwide due to blood cancer will be 1,100,000. In 2019, more than 387,000 people are living with leukemia in the United States and an estimated 68,000 deaths will result from blood cancer. According to national cancer institute, the estimated deaths due to blood cancer are expected to be around 22,840 in 2019. The increasing deaths and increasing incidence of blood cancer cases globally drives the blood cancer drug market.

Drug approval involves series of research stages and regulatory approvals that are often expensive. Drug approval process include about four phases of clinical trials and various stages of screening process with the regulatory body such as FDA. The costs of failed clinical trials is also high as clinical trial phases involves huge investments. According to Tufts Center for the Study of Drug Development, the cost of bringing a new drug from its conception to shelves is about $2.7 billion in 2017. This cost has increased more than 10 folds, with the cost of bringing a new drug to the market being $320 million in 1990s. Thus indicating that the high drug approval costs hinders the growth of the blood cancer drugs market.

Companies in the blood cancer drugs market are increasingly investing in technologies such as artificial intelligence (AI) to save time and reduce research and development costs. AI is the simulation of human intelligence processes by machines, especially computer systems, which has the potential to surpass human intelligence levels. This technology helps to analyze large sets of chemical and biological data to identify potential drug candidates with higher success rates and at a quicker pace when compared to human analysis. The technology also helps in speeding up the patient recruitment process by matching blood cancer patients with the most relevant clinical trials, thus lowering clinical trial costs. Major blood cancer drug manufacturers such as Roche, Pfizer and Johnson and Johnson have already invested in AI technologies to reduce time taken and costs incurred for drug development. For instance, Johnson and Johnson entered into an agreement with BenevolentAI, a UK-based artificial intelligence company (start-up), to mine data for designing new blood cancer drugs.

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Scope of the Report:

Markets Covered: 1) By Blood Cancer Type : Leukemia, Lymphoma, Myeloma 2) By Drugs: Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), Others

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Time series: Five years historic and forecast.

Data: Ratios of market size and growth to related markets, GDP, Expenditure Per Capita, The Blood Cancer Drugs Indicators Comparison.

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This research report represents a 360-degree overview of the competitive landscape of the Global Blood Cancer Drugs Market. Furthermore, it offers massive data relating to recent trends, technological advancements, tools, and methodologies. The research report analyzes the Global Blood Cancer Drugs Market in a detailed and concise manner for better insights into the businesses. Finally, the researchers throw light on different ways to discover the strengths, weaknesses, opportunities, and threats affecting the growth of the Global Blood Cancer Drugs Market. The feasibility of the new report is also measured in this research report.

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This release was published on openPR.