A recent report published by Infinium Global
Research on the blood cancer drugs market provides an in-depth analysis of segments
and sub-segments in the global as well as regional blood cancer drugs market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional blood cancer drugs market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global blood cancer drugs market.
According to the report, the global blood cancer drugs market is projected to
grow at a CAGR of 11.5% over the forecast period of 2020-2026.
The rate of diagnosis of blood cancers has
improved significantly due to the improved healthcare systems across the world
and it drives the demand for blood cancer drugs. The presence of a large
geriatric population in the world is expected to provide more demand for blood
cancer drugs as blood cancers except for acute lymphocytic leukaemia and
Hodgkin’s lymphoma affect aged people to a large extent. FDA has approved both
generic and brand names for leukemia.
Ibrutinib (Imbruvica) reduces the risk of cancer progression or death by
80 percent when combined with a chemotherapy drug called bendamustine thereby
increasing the demand for blood cancer drugs.
The rising prevalence of blood cancer cases
globally and the increasing aging population are key driving factors for the
growth of the blood cancer drug market. The increasing number of leukemia
population is creating more demand for blood cancer drugs. As per the study of
the American Cancer Society, around 60,300 new cases of leukemia occur every
year, resulting in 24,370 deaths. As many of the leukemia cases are undetected
in the initial stage, the emphasis is on effective drugs for recovery. Further,
a significant rise in alternative therapeutic options available for blood
cancer such as immunotherapy, chemotherapy, and stem cell transplant is likely
to impact the demand for blood cancer drugs market. Blood cancers account for
approximately 10 percent of all new cancer cases diagnosed, and an estimated
68,000 deaths will occur due to blood cancer. However, higher costs of blood
cancer drugs and therapies and the lack of supportive reimbursement policies
may hamper the demand for the blood cancer drugs market. Furthermore, huge
investments in research and development of blood cancer by major pharmaceutical
companies are anticipated to further boost the global blood cancer drug market
during the forecast period. The healthcare industry is witnessing a major
change in operations amid the COVID-19 pandemic, as researchers have difficulty
in meeting timelines associated with the peer-review process. However, the
AstraZeneca blood cancer drug shows signs of helping COVID-19 patients in the
research. Positive results of cancer drugs may upsurge the demand. On the other
hand, the number of patients affected by blood cancer is increasing rapidly.
Healthcare structure is operating at a rapid pace during the outbreak of
coronavirus pandemic. However, an escalating number of COVID-19 cases
overburdening the healthcare system and services which is manifesting a
moderate impact on the demand of the market.
Geographically, North America holds the
largest share in the global market and is expected to continue its dominance
over the forecast period. The high
spending capacity of the population, favorable reimbursement policies in the
U.S contributing to the growth of the blood cancer drugs market in the North
America region. New cases of leukemia, lymphoma, and myeloma are expected to
account for 9.9% of the approximate 1,806,590 new cancer cases detected in the
US in 2020. However, the availability of technologically advanced healthcare
infrastructure in this region will increase the demand. The market in Europe is
expected to escalate owing to the rising prevalence of cancer cases and the
high adoption of advanced technology.
The report on global blood cancer drugs
market covers segments such as product, treatment approach, and application. On
the basis of product, the sub-markets include rituaxan/mabthera,
gleevac/glivec, revlimid, velcade, tasigna, pomalyst, vidaza, and others. On
the basis of treatment approach, the sub-markets include chemotherapeutic,
targeted therapies, and immunotherapeutic. On the basis of application, the
sub-markets include leukemia, lymphoma, and multiple myeloma.
The report provides profiles of the companies
in the market such as Amgen Inc, AstraZeneca PLC, Astellas Pharma Inc, Bayer
AG, Bristol-Myers Squibb Company, Celgene Corporation, Eli Lilly, F.Hoffmann-La
Roche Ltd, Johnson & Johnson, and Novartis.
The report provides deep insights into the
demand forecasts, market trends, and micro and macro indicators. In addition,
this report provides insights into the factors that are driving and restraining
the growth in this market. Moreover, The IGR-Growth Matrix analysis given in
the report brings an insight into the investment areas that existing or new
market players can consider. The report provides insights into the market using
analytical tools such as Porter's five forces analysis and DRO analysis of
blood cancer drugs market. Moreover, the study highlights current market trends
and provides forecast from 2020-2026. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.