Press release
Blood Cancer Drugs Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Blood Cancer Drugs Market Size
In recent times, the market size for blood cancer drugs has significantly expanded. It is projected to rise from $74.78 billion in 2024 to $80.79 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%. The previous growth can be traced back to advancements in research and development, an ageing demographic, heightened awareness and early diagnosis, along with regulatory approvals.
Anticipated to witness robust growth in the coming years, the size of the blood cancer drugs market is set to expand to $106.8 billion in 2029, experiencing a compound annual growth rate (CAGR) of 7.2%. Factors such as an uptick in disease incidence, the emergence of new markets, and supportive care contribute to this growth in the projected period. The forecast period will see key trends like investments in research and development, therapies combining multiple treatments, identification of biomarkers, advancements in immunotherapy, and the growth of personalized medicine.
What Are the Primary Growth Drivers for the Blood Cancer Drugs Market?
The escalating prevalence and growing mortality rates linked to blood cancer worldwide act as catalysts propelling the blood cancer drugs market. Various forms of blood cancer such as leukemia, lymphoma, myeloma, and others, each with their own unique risk factors, can either be managed, prevented through medication therapies, or could potentially be fatal. According to a report by Bristol-Myers Squibb Company in November 2022, the forecast for new blood cancer diagnoses worldwide in 2040 is set at over 1.85 million. This includes 918,872 lymphoma cases, 656,345 cases of leukemia, and 275,047 myeloma cases. In addition, the report predicts an estimated 1,100,000 deaths worldwide from blood cancer in 2040. The rising mortality rates and escalating incidences of blood cancer globally, are significant factors propelling the blood cancer drugs market.
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Who Are the Dominant Companies Influencing Blood Cancer Drugs Market Trends?
Major companies operating in the blood cancer drugs market include Amgen Inc., AstraZeneca PLC, Bayer AG, Eli Lilly and Company Inc., Johnson & Johnson, Novartis AG, Pfizer Inc., AbbVie Inc., Takeda Pharmaceutical Company Limited, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Astellas Pharma Inc., Roche Holding AG, Merck & Co. Inc., Gilead Sciences Inc., Sanofi S.A., Eisai Co. Ltd., Jazz Pharmaceuticals plc, Kyowa Kirin Co. Ltd., Menarini Group, Millennium Pharmaceuticals Inc., Mundipharma International Limited, Mylan N.V., Ono Pharmaceutical Co. Ltd., Otsuka Pharmaceutical Co. Ltd., Pharmacyclics LLC, Regeneron Pharmaceuticals Inc., Seattle Genetics Inc., Servier Laboratories, Shire plc, Spectrum Pharmaceuticals Inc., Taiho Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Tolero Pharmaceuticals Inc., UCB S.A., Vertex Pharmaceuticals Incorporated
How Is the Blood Cancer Drugs Market Evolving?
Key players within the blood cancer drugs market are aiming to edge out rivals by innovating new drugs and seeking FDA approval. The approval by the FDA, also known as the United States Food and Drug Administration, gives legal sanction to pharmaceutical products to be sold in the United States. For example, in March 2024, Bristol Myers Squibb, a company from the pharmaceutical industry in the US, was awarded FDA approval for its premier and sole CAR T-cell therapy for adults suffering from recurrent or refractory chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL). This fast-track approval paves the way for its use in patients who have already had at least two prior treatments, including a Bruton tyrosine kinase inhibitor and a B-cell lymphoma 2 inhibitor. From the TRANSCEND CLL 004 trial, it was shown that Breyanzi had a complete response rate of 20% and a median duration of response of 35.3 months for those who responded.
What Are the Different Segmentations in the Blood Cancer Drugs Market?
The blood cancer drugs market covered in this report is segmented -
1) By Blood Cancer Type: Leukemia, Lymphoma
2) By Drugs: Rituxan Or Mabthera (Rituximab), Gleevec Or Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), Other Drugs
3) By Treatment Approaches: Key Findings, Chemotherapeutic, MAbs/Targeted Therapies, Immunotherapeutic
Subsegments:
1) By Leukemia: Acute Lymphoblastic Leukemia (ALL), Chronic Lymphocytic Leukemia (CLL), Acute Myeloid Leukemia (AML), Chronic Myeloid Leukemia (CML), Other Types of Leukemia
2) By Lymphoma: Hodgkin Lymphoma, Non-Hodgkin Lymphoma (NHL), Burkitt Lymphoma, Follicular Lymphoma, Mantle Cell Lymphoma, Other Types of Lymphoma
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Which Region Is at the Forefront of the Blood Cancer Drugs Market?
North America was the largest region in the blood cancer drugs market in 2023. Middle East is expected to be the fastest-growing region in the blood cancer drugs market during the forecast period. The regions covered in the blood cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Blood Cancer Drugs Global Market Report?
- Market Size Analysis: Analyze the Blood Cancer Drugs Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blood Cancer Drugs Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Blood Cancer Drugs Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blood Cancer Drugs Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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