Industry Background:
Blood cancer is defined as cancer that initiates in blood-forming tissue and it also affects bone marrow and cells of the immune system. Lymphoma, leukemia, and multiple myeloma are some of the major diseases of blood cancer. The major symptoms of blood cancer are chest pain, chills, Loss of appetite, persistent weakness, and fatigue, among others. In 2018, according to an article published by the National Cancer Institute (United States), more than 1,735,350 new cases of cancer are diagnosed in the United States. Hence, the rising number of cancer patients globally and raising awareness of blood cancer drugs are some of the major factors which affect the growth of the market in the future.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Johnson & Johnson Inc. (United States), Amgen Inc. (United States), Bayer AG (Germany), Pfizer, Inc. (United States), AbbVie Inc. (United States), F. Hoffmann-La Roche AG (Switzerland), Celgene Corporation (Switzerland), AstraZeneca plc (United Kingdom), Novartis International AG (Switzerland) and GlaxoSmithKline PLC (United Kingdom) |
This growth is primarily driven by Rising Prevalence of Cancer Epidemics and Growing Geriatric Population Base Worldwide and Increasing Number of Cancer Patients, Which Has Led to Rising Demand for Cancer Drugs.
Globally, a noticeable market trend is evident Increasing Investment in Research & Development globally, For instance, Leukemia & Lymphoma Society (United States), has Investing Huge Amounts in Cure Blood Cancer The Pharmaceuticals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Johnson & Johnson Inc. (United States), Amgen Inc. (United States), Bayer AG (Germany), Pfizer, Inc. (United States), AbbVie Inc. (United States), F. Hoffmann-La Roche AG (Switzerland), Celgene Corporation (Switzerland), AstraZeneca plc (United Kingdom), Novartis International AG (Switzerland) and GlaxoSmithKline PLC (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market appears to be highly fragmented and with the presence of several companies including Johnson & Johnson Inc. (United States), Amgen Inc. (United States), Bayer AG (Germany), among others
Key Developments in the Market:
In June 2021, AbbVie acquired the TeneoOne and its key immunotherapeutic asset for treating blood cancer named TNB-383B. TNB-383B is a bispecific antibody that targets both BCMA and CD3 and is designed to direct the body's own immune system to target and kill BCMA-expressing tumor cells.
In April 2019, the Emcure Pharmaceutical (India) Company launched generic breast cancer medicine, which is used to treat HER 2 negative patients. Hence, it will benefit the increased product portfolio of the company in the future.
Regulatory Insights:
In the European Union, the European Medicines Agency (EMA) plays a key role in the regulation of blood cancer drugs. The EMA evaluates the safety, efficacy, and quality of these drugs through a centralized procedure that grants marketing authorization to the European Union.
Influencing Trend:
Increasing Investment in Research & Development globally, For instance, Leukemia & Lymphoma Society (United States), has Investing Huge Amounts in Cure Blood Cancer
Market Growth Drivers:
Rising Prevalence of Cancer Epidemics and Growing Geriatric Population Base Worldwide and Increasing Number of Cancer Patients, Which Has Led to Rising Demand for Cancer Drugs
Challenges:
High Cost of Drug Development and the Threat of Failure
Restraints:
Issue related to adverse Effects Associated with the use of Blood Cancer Drugs
Opportunities:
High Growth Potential in Developing Countries especially China & India, which has also led to a Rise in Demand for Cancer Drugs in the Future and Government initiative to promote the Treatment of Blood Cancer Disease
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Blood Cancer Drugs Market
- Analysis about New Entrants in Blood Cancer Drugs Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Blood Cancer Drugs Study Sheds Light on
The Blood Cancer Drugs Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Blood Cancer Drugs industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blood Cancer Drugs industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.