The global blood cancer drugs market size is expected to reach USD 89.91 billion by 2028 according to a new study by Polaris Market Research. The report “Blood Cancer Drugs Market Share, Size, Trends, Industry Analysis Report, By Blood Cancer Type (Lymphoma, Leukemia, Myeloma); By Drugs, By Treatment Type; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Federal government funding for research has also led to a substantial development in cancer detection, prevention, diagnosis, treatment and quality of life for patients. Due to the advancements in research, more patients affected with the disease are being diagnosed at appropriate stages and successfully treated. The increasing investment in research is expected to boost growth in this market during forecast period.
The prognosis and treatment for leukemia depend on whether it is acute or chronic and the type of blood cell that is affected. The leukemia market is segmented into acute lymphoblastic leukemia, acute myelogenous leukemia, chronic myelogenous leukemia, chronic lymphocytic leukemia, acute myeloid leukemia and chronic myeloid leukemia.
VELCADE (bortezomib) is a type of chemotherapy drug known as a targeted therapy. It is FDA approved drug for the treatment of mantle cell lymphoma and multiple myeloma. VELCADE has been widely used for number of clinical trials. As a part of clinical trials this drug has been studied in a wide range of individual, including diabetes and renal impairment. VELCADE works by slowing down and/or blocking the action of proteasomes in the cells.
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Some of the drugs used to treat multiple myeloma are thalidomide (Thalomid), bortezomib (Velcade), lenalidomide (Revlimid) and corticosteroids (dexamethasone, prednisone). Though chemotherapy kills rapidly growing cancer cells, it may also destroy normal fast-growing cells such as GI tract, bone marrow, hair and mouth. Chemotherapy for leukemia may also affect the ability of bone marrow to produce sufficient number of blood cells.
North America is expected to dominate the global market over the forecast period, this is mainly due to the technological advancement, well-established healthcare infrastructure, accessibility of better treatments which has facilitated the growth of the market in this region. Also, the disease is the third most cause of deaths after lung and colon in North America, which provides as major market growth opportunity for blood cancer drugs.
The incidence rate of blood cancer in UK is 66 in every 100,000. The disease is more prevalent in males with age group between 50 and above. Another organization, the National Institute for Health and Care Excellence. provide guidelines to healthcare professionals for diagnosing the disease in children, young and adults. The organization aims to improve the healthcare facilities with better and enhanced results of diagnostics.
Key market players in the market are Amgen Inc., Johnson & Johnson Inc., Bayer AG., Eli Lily & Co., Pfizer Inc., AstraZeneca, AbbVie Inc., Celgene Corporation, Roche Holding AG, Merck and Company, GlaxoSmithKline Pharmaceuticals Ltd., and Novartis AG.
Polaris Market Research has segmented the blood cancer drugs market report on the basis of blood cancer type, drugs, treatment type, and region:
Blood Cancer Drugs by Blood Cancer Type Outlook (Revenue - USD Million, 2016 - 2028)
Blood Cancer Drugs by Drugs Outlook (Revenue - USD Million, 2016 - 2028)
Blood Cancer Drugs by Treatment Type Outlook (Revenue - USD Million, 2016 - 2028)
Blood Cancer Drugs by Regional Outlook (Revenue - USD Million, 2016 - 2028)