Blood Cancer Drugs Market is segmented By Type (Leukemia, Non-Hodgkin lymphoma, Hodgkin lymphoma, Myeloma), By Drugs Type (Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), Others), By Route of Administration (Oral, Parenteral, Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Blood Cancer Drugs Market Overview
The Global Blood Cancer Drugs Market size reached USD 63 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 113.5 billion by 2031. The global blood cancer drugs market is expected to exhibit a CAGR of 7.8% during the forecast period 2024-2031.
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The blood cancer drugs market is driven by factors such as the increasing prevalence of blood cancers, advancements in cancer research, development of targeted therapies, immunotherapies, and personalized medicine. For instance, in March 2023, AbbVie, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has approved EPKINLYTM, as the first and only T-cell engaging bispecific antibody for the treatment of adult patients with relapsed or refractory (R/R) diffuse large B-cell lymphoma (DLBCL), a white blood cells cancer.
Blood Cancer Drugs Market Scope
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Metrics |
Details |
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CAGR |
7.8% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Cancer Type, Therapy Type, Route of Administration, End user, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Blood Cancer Drugs Market Dynamics
Increasing prevalence of blood cancers
The rising incidence of blood cancers worldwide is a major driver for the market. Factors such as aging populations, exposure to environmental toxins, genetic predispositions, and lifestyle changes contribute to the growing prevalence of blood cancers. As the number of patients diagnosed with these cancers increases, the demand for effective treatment options and innovative drugs rises as well.
Advances in medical technology and improved diagnostic methods have contributed to earlier and more accurate detection of blood cancers. As diagnostic techniques become more sensitive and accessible, a larger number of cases are being identified, resulting in an apparent increase in incidence.
High cost and side effects of treatment
The high cost and side effects associated with treatment are the major factors hampering the market growth. Blood cancer drugs, particularly innovative therapies such as targeted therapies, immunotherapies, and CAR-T cell therapies, often come with high price tags.
The cost of these treatments, including drug development, manufacturing, and administration, can be a significant financial burden for patients, healthcare systems, and payers.
Like many cancer treatments, blood cancer drugs can cause significant side effects. Chemotherapy, radiation therapy, and certain targeted therapies can lead to adverse reactions such as nausea, fatigue, immunosuppression, and organ toxicities.
Immunotherapies and CAR-T cell therapies may also be associated with immune-related adverse events, cytokine release syndrome, and neurotoxicity. Managing and mitigating these side effects is essential to ensure patient safety and treatment tolerability.
Blood Cancer Drugs Market Segment Analysis
The Global Blood Cancer Drugs Market is segmented based on cancer type, therapy type, route of administration, end-user, and region.
Based on cancer type, the leukemia segment is expected to dominate the market share
The leukemia segment is expected to dominate the market share during the forecast period based on the cancer type. The market for leukemia will hold 35.8% of the market share in 2022. Leukemia represents a significant portion of all blood cancer cases, making it one of the most common types of blood cancer. The incidence of leukemia is relatively higher compared to other blood cancer types, such as lymphoma and multiple myeloma.
Source: DataM Intelligence Analysis (2023)
Global Blood Cancer Drugs Market Geographical Share
North America holds the largest market share due to the presence of key players and advanced healthcare infrastructure.
North America holds the largest market share during the forecast period due to the presence of key players and advanced healthcare infrastructure. The region holds the 41.3% blood cancer drug market share in 2022.
North America is home to many leading pharmaceutical companies and biotechnology firms actively involved in developing and commercializing blood cancer drugs. These companies have a strong presence and extensive research and development capabilities, enabling them to drive innovation and bring new therapies to market.
Source: DataM Intelligence Analysis (2023)
Blood Cancer Drugs Market Players
The major global players include Amgen Inc., AstraZeneca Plc, Takeda Pharmaceutical Company Ltd, Bayer AG, Celgene Corporation, Eli Lilly, Bristol-Myers Squibb Company, Gilead Sciences Inc., Daiichi Sankyo Company Ltd, and UCB SA.
COVID-19 Impact on Blood Cancer Drugs Market
The COVID-19 pandemic has significantly impacted the blood cancer drugs market. The pandemic has disrupted ongoing clinical trials for blood cancer drugs. Many trials were temporarily halted or delayed due to restrictions on patient recruitment, limited access to healthcare facilities, and redirection of resources to COVID-19-related activities. The disruptions in clinical trial timelines may lead to delays in drug development and regulatory approvals.
Russia-Ukraine Conflict Analysis
The Russia-Ukraine war significantly impacted the blood cancer drugs market growth. The conflict can impact access to healthcare services, including diagnosing, treating, and managing blood cancers. Displacement of populations, damage to healthcare infrastructure, and disruption of medical services can hinder patients' ability to receive timely and appropriate care.
Key Developments
- In May 2023, Aster MIMS and Aster DM Foundation, in collaboration with Aster Volunteers and other philanthropists and organizations working in the field of humanitarian services, provide free cancer treatment for 100 underprivileged children below the age of 18.
The initiative named ‘Second Life 2.0’ was inaugurated by the renowned magician and motivational speaker Gopinath Muthukad at an event in Trivandrum. This initiative enables children from all over the country to access the best cancer treatments, free of cost, from Aster MIMS, Calicut.
- The Max Foundation and BeiGene are partnering to provide access to BRUKINSA for CLL treatment in 29 low- and middle-income countries by 2026.This collaboration advances each organization’s focus on patient access by combining Max’s expertise and infrastructure with a donated product from BeiGene, and a grant from the BeiGene Foundation.
Why Purchase the Report?
- To visualize the Global Blood Cancer Drugs Market segmentation based on cancer type, therapy type, route of administration,end-userr, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of blood cancer drugs market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Blood Cancer Drugs Market Report Would Provide Approximately 54 Tables, 46 Figures And 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
