The Global blood cancer drugs market is anticipated to reach USD 55.6 billion by 2025 according to a new report published by Polaris Market Research. The demand for blood cancer drug is primarily driven by growing death incidences by blood cancer, and continuous innovation for developing novel treatments with the help of several ongoing clinical trials. Moreover, increasing research and development of biological and targeted therapies as treatment will spur the blood cancer drugs market during the upcoming period. However, the high price of drugs and the stringent government policies will limit the growth of blood cancer drugs market during the forecast period.
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Most of the blood cancers start in the bone marrow, where blood is produced. In blood cancer the growth of normal blood cells is dislodged by the uncontrollable growth of abnormal blood cells. These cancerous cells prevent the blood from performing many of its functions. Hence, the existing treatments of blood cancer are being the foundation for developing the new drugs. The steady flow of the blood cancer drugs has created opportunity for research and development in the existing market. For instance, Amgen Inc. received approval for BLINCYTO in July 2017, which is used in treating B-cell precursor Acute Lymphoblastic leukemia. Similarly, European blood cancer drugs market witnessed the approvals of Gazyvaro, by Roche AG that is used in treating advanced follicular lymphoma. Also, novel technologies like CAR-T are likely to be launched this year.
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The global blood cancer drugs market is segmented into blood cancer type, drugs and treatment approaches. On the basis of blood cancer type, the global blood cancer drugs market is segmented into leukemia, lymphoma and myeloma. 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 further categorized into Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), and Others. 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 preferential drugs in trials for treating multiple myeloma.
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