The value of the global blood cancer drugs market was USD X.X billion during 2015. The global blood cancer drugs market is projected to reach USD X.XX billion by 2023, growing with a CAGR between 10.5% to 11.5% from 2017 to 2023. Due to the improved healthcare systems across the world, the rate of diagnosis of blood cancers has improved significantly and it drives the demand for the blood cancer drugs. The presence of large geriatric population in the world is expected to provide more demand for the blood cancer drugs as blood cancers except acute lymphocytic leukaemia and Hodgkin’s lymphoma affect aged people to a large extent. Chemotherapeutic drugs segment is anticipated to garner more demand and drive the growth of the global blood cancer drugs market due to availability of wide range of various chemotherapeutic drugs for blood cancer. Moreover, owing to their effectiveness, the demand for personalised cancer drugs is expected to increase significantly during the forecast period. Increasing number of leukaemia patients is generating more demand for blood cancer drugs. As many of the leukaemia cases are undetected in initial stage, the emphasis is on effective drugs for recovery. The leukaemia segment is expected to drive the growth of the global blood cancer drugs market. Biological drugs for cancer are attaining more demand despite the high cost, due to their effectiveness and minimal side effects in curing or bringing relief to the blood cancer patients. Additionally, biosimilars of respective biological cancer drugs are expected to attain significant demand in regions where the affordability of costly biological drugs is an issue. Similarly, immunotherapy for blood cancer is likely to grow significantly as an alternative for chemotherapy over the forecast period, due to the lesser side effects and improved efficiency. These segments are anticipated to enhance the growth of the global blood cancer drugs market during the forecast period. The expiry of patents on some of the major chemotherapeutic blood cancer drugs in coming years is expected to provide opportunity for generic manufacturers to manufacture low-cost generic versions of those and it is expected to escalate the growth of the global blood cancer drugs market. Huge investments in research and development of blood cancer by major pharmaceutical companies are anticipated to further boost the global blood cancer drugs market during the forecast period.
The higher costs of blood cancer drugs and therapies and the lack of supportive reimbursement policies and insurance coverage for blood cancer therapies in many regions are the major restraints for the global blood cancer drugs market. Biosimilars of biological drugs and generics of chemical drugs for cancer is expected to provide opportunity for pharmaceutical companies to expand in the developing and least developed countries, where the high costs of traditional blood cancer drugs are unaffordable for patients, during the forecast period. Providing cost effective blood cancer drugs to the patients will be a major challenge for the major pharmaceutical companies, due to the high investments required for research and development and manufacturing, during the forecast period.
Figure: Global Blood Cancer Drugs Market by Value 2015 - 2023
The report segments the global blood cancer drugs market by product and region. On the basis of product, the market is segmented as rituaxan/mabthera, gleevac/glivec, revlimid, velcade, tasigna, pomalyst, vidaza, kyprolis, adcetris, and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. North American region is the largest blood cancer drugs market, due to the presence of advanced diagnostic facilities and numerous blood cancer patients in USA. Presence of good healthcare facilities for cancer related treatments and affordability among public owing to the favorable reimbursement and insurance policies drive the growth of the North American blood cancer drugs market. Moreover, the presence of major Pharmaceutical companies in the region and their huge investments in research and development of blood cancer drugs is yielding new effective blood cancer drugs in the region. The increasing awareness and preference for immunotherapy due to efficiency is expected to drive the North American blood cancer market during the forecast period. Presence of large geriatric population and good healthcare facilities for cancer treatments drive the European blood cancer drugs market. Due high rate of diagnosis of blood cancer at initial stages and awareness about treatments among patients, the demand for the blood cancer drugs is high in Europe and it drives the growth of the market. The expiry of patents of major blood cancer drugs is expected to drive the growth of manufacturing of generic blood cancer drugs in near future.
Moreover, Europe has the policy to promote biologics and biosimilar drugs as an alternative for chemotherapeutic drugs and it is expected to drive the European blood cancer drugs market. The initiatives of major pharmaceutical companies to expand the operations in Presence of huge population, increasing awareness about the blood cancer, investments by governments to improved healthcare facilities for cancer treatments and promotion of alternative therapies such as immunotherapy and biologics are expected to drive the growth of the Asia-Pacific blood cancer market. Low cost generic and biosimilar drugs for blood cancer are expected to generate more demand in the Asia-Pacific blood cancer drugs market during the forecast period.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of blood cancer drugs globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on 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. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the blood cancer drugs market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the blood cancer drugs market to understand the present and future trends in this market and formulate their strategies accordingly
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