The global blood cancer drugs market is valued at USD 24.3 billion in 2017 and is anticipated to grow at a CAGR of 11.1% during the forecast period. The combination drug regimens in treating various kinds of blood cancer have recently taken off. These combinations need to be synergistic without overlapping toxicities by understanding the type of drugs to be combined. The recently developed blood cancer drugs look highly promising and is poised to move up the treatment paradigm in the future. Despite of high price and small number of patients, there is a steady flow which is creating opportunities in the lucrative market.
This continuous innovation for treating various sub-types of blood cancers has led to the development of novel types of treatments. For instance, the combination of Revlimid and Velcade has emerged as the favored drugs in trials for treating multiple myeloma. Furthermore, rising partnerships and alliances between the companies for promoting the use of drugs, and increasing R&D spends in platform technologies by the players across the continuum are some of the factors that would drive the growth of the blood cancer drugs market.
The majority of the biopharmaceutical companies is focused on developing new combination drugs for the treatment of blood cancer. Recently, AbbVie is focusing on combination of Imbruvica and Venclexta which is being studied for the treatment of CLL and MCL.
North America Blood Cancer Drugs Market Share by Treatment Approaches, 2017 - 2025
Note: Inside circle depicts data for 2017 & outside circle depicts data for 2025
Blood cancer starts within the bone marrow, where the blood is composed. The stem cells in the bone marrow mature to develop three types of cells viz. red blood cells, white blood cells, and platelets. Blood cancer is characterized by the uncontrolled growth of cancerous cell that displace the normal functional cells. These cancerous cells affect the function of normal blood. Blood cancer is, basically, bifurcated as Leukemia and Lymphoma.
The lymphoma segment is expected to drive the majority market of blood cancer drugs followed by leukemia. The global market of this segment is primarily driven by the increasing prevalence of lymphoma, and presence of effective treatments in the market.
On the basis of drugs, the global blood cancer drugs market is segmented into Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), and Others. Due to the drug effectiveness, the demand for personalized cancer drugs is expected to increase significantly during the forecast period. Increasing number of leukemia suffering patients is generating more demand for blood cancer drugs. As many of the leukemia cases are undetected in early stage, the emphasis is on effective drugs for recovery.
Blood cancer drugs are segmented according to the treatment approaches as chemotherapeutic, targeted therapies, and immunotherapies. Due to availability of variety of chemotherapeutic agent in the market chemotherapeutic drugs are expected to hold the higher share in blood cancer drugs market. Moreover, their effectiveness for the treatment of blood cancer and increasing number of cancer patients globally has garnered more demand for chemotherapeutic drugs throughout the world. Nonetheless, the comparatively high price and high risk side effects by the use of these drugs would impede the market for chemotherapeutic drugs in the future.
In addition, immunotherapies are likely to grow as an alternative for chemotherapy over the period, due to lesser side effects and improved efficiency. This particular segment is anticipated to enhance the growth of the global blood cancer drugs market in the forecast period.
North America Blood Cancer Market, By Treatment Approach, 2017 - 2026 (USD Billion)
North America holds a major share for blood cancer drugs market, which is basically driven by the increasing demand for the drugs in the U.S. market with the availability of advanced healthcare facilities, and increasing number of blood cancer patients. Furthermore, the presence of major pharmaceutical companies, increased investment on R&D in the region, and increasing awareness & preferences for the immunotherapies will also spur the market of blood cancer drug in North America during the forecast period.
Similarly, Europe holds the second largest market share of blood cancer drugs. The European blood cancer drugs market is driven by effective policies that promote the awareness about blood cancer, increased government investment for improving the healthcare facilities, and high rate of diagnosis of blood cancer at initial stages. Moreover, Asia-Pacific would observe a lucrative growth in the blood cancer drugs market. Increased government initiatives for creating awareness about blood cancer, improved healthcare facilities for treating blood cancer, and the availability of low cost generic and biosimilar drugs are expected to drive Asia-pacific blood cancer drugs market during the forecast period.
Major firms are focusing on small firms with a working methodology of securing the end goal to manage position in the market and are associated with mergers and acquisitions, key joint efforts, and novel item advancement to pick up profit share in the business. Some major key players in global blood cancer drugs market includes Johnson & Johnson Inc., Amgen Inc., Bayer AG., Pfizer Inc., Eli Lily & Co., AstraZeneca, AbbVie Inc., Roche Holding AG, Celgene Corporation, Merck and Company, Novartis AG, and GlaxoSmithKline Pharmaceuticals Ltd. among others