Blood Cancer Market Analysis and Size
According to a survey by Bristol-Myers Squibb, approximately 1.85 million new cases of blood cancer will be diagnosed worldwide in 2040, with 918,872 cases of lymphoma, 656,345 cases of leukaemia, and 275,047 cases of myeloma. Furthermore, the survey predicted that by 2040, there will be around 1,100,000 fatalities worldwide owing to blood cancer.
Cancer that starts in blood-forming tissue, such as bone marrow, or in immune system cells. Leukemia, lymphoma, and multiple myeloma are examples of blood cancers. Hematologic cancer is another name for it. Drugs including bosulif, busulfan, bosutinib and busulfex are used to treat blood cancer.
Data Bridge Market Research analyses that the blood cancer market was valued at USD 43.71 billion in 2021 and is expected to reach USD 89.68 billion by 2029, registering a CAGR of 9.40% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Blood Cancer Market Dynamics
Drivers
· Introduction of monoclonal antibodies with safety profile to fight myeloma cells
The expansion of the blood cancer market is fueled by the increasing use of microRNA treatments, the rise of nanomedicine platforms, and the constant introduction of effective and safe therapeutics. With the addition of monoclonal antibodies and histone deacetylase (HDAC) inhibitors to the present therapies array, the medicines market is likely to gain traction. Because of the established clinical profile, clinicians favour biologic therapy with monoclonal antibodies such as darzalex and empliciti.
· Increasing prevalence of blood cancer
The rising prevalence of blood cancer is estimated to enhance the blood cancer market's growth rate. Blood cancer is a form of hematological cancer triggered by certain genetic defects. The disease is treated with medications that modify the immune system and assist in improving the efficacy of chemotherapies, radiation therapies, stem cell transplants, and platelet transfusions.
· Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of blood cancer market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
Furthermore, rising geriatric population and increasing number of obese population will expand the blood cancer market.
Opportunities
· Increase in the number of research and development activities
The blood cancer market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the blood cancer market growth. Along with this, rising drug approvals and launches will further propel the market’s growth rate. The introduction of monoclonal antibodies (mAbs) (including Empliciti and Darzalex) will act as major opportunity for market's growth, as they will not only provide a new therapeutic option for blood cancer patients, but they will also extend the time between relapses, extending the duration of Revlimid and Velcade therapies. Ninlaro and Kyprolis, two second-generation proteasome inhibitors, will also be available to these patients, expanding their therapy options. This will have an impact on the industry and market, which is now controlled by Revlimid, an immunomodulator, and Velcade, a proteasome inhibitor.
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Global Blood Cancer Market Scope
The blood cancer market is segmented on the basis of type, treatment, diagnosis, dosage forms, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
· Leukaemia
· Lymphoma
· Myeloma
Treatment
· Medications
· Proteasome Inhibitors
· Bortezomib
· Ixazomib
· Carfilzomib
· Histone Deacetylase (HDAC) Inhibitors
· Chemotherapy Drugs
· Bendamustine
· Etoposide
· Doxorubicin
· Liposomal Doxorubicin
· Cyclophosphamide
· Melphalan
· Vincristine
· Immunotherapy Drugs
· Lenalidomide
· Thalidomide
· Pomalidomide
· Corticosteroids
· Dexamethasone
· Prednisone
· Monoclonal antibodies
· Daratumumab
· Isatuximab
· Elotuzumab
· Radiation Therapy
· Stem Cell Transplant
· Others
Diagnosis
· Blood Tests
· Bone Marrow Biopsy
· Urine Tests
· Imaging Tests
· X-ray
· Magnetic resonance imaging (MRI)
· Positron Emission Tomography (PET)
Dosage Forms
· Capsule
· Tablets
· Injections
· Others
Route of Administration
· Oral
· Parenteral
· Intravenous
· Others
· Others
End-Users
· Hospitals
· Specialty Clinics
· Homecare
· Others
Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· Others
Some of the major players operating in the blood cancer market are:
· F. Hoffmann-La Roche Ltd. (Switzerland)
· Mylan N.V. (U.S.)
· Teva Pharmaceutical Industries Ltd. (Ireland)
· Sanofi (France)
· Pfizer Inc. (U.S.)
· GlaxoSmithKline plc (U.K.)
· Novartis AG (Switzerland)
· Bayer AG (Germany)
· Eli Lilly and Company (U.S.)
· Merck & Co., Inc. (U.S.)
· Allergan (Ireland)
· AstraZeneca (U.K.)
· AbbVie Inc. (U.S.)
· Johnson & Johnson Private Limited (U.S.)
· Cipla Inc. (U.S.)
· Abbott (U.S.)
· Merck KGaA (Germany)
· LEO Pharma A/S (Denmark)
· Bausch Health Companies Inc. (Canada)
· Sun Pharmaceutical Industries Ltd. (India)
· Aurobindo Pharma (India)
· Lupin (India)
· Hikma Pharmaceuticals PLC (U.K.)
· Fresenius Kabi AG (Germany)
· Amneal Pharmaceuticals LLC. (U.S.)
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