April 4, 2020

Blood and Bone Marrow Cancer Treatment Market Is Expected To Reach US$ 74.9 Bn by 2027

The latest market report published by Credence Research, Inc. “Global Blood and Bone Marrow Cancer Treatment Market – Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global market for the treatment of blood and bone marrow cancer was valued at US$ 38.8 billion in 2018 and is expected to reach US$ 74.9 billion by 2027, increasing to CAGR by 7.7% from 2019 to 2027.

Market Insights

Blood cancer begins in the bone marrow, an integral source of stem cells that are later differentiated between different types of blood cells in the human body. Researchers at Bristol Myers Squibb Company have indicated that around 1.85 million new cases of blood cancer will be diagnosed worldwide by 2040.

Browse the full report at https://www.credenceresearch.com/report/blood-and-bone-marrow-cancer-treatment-market

Lymphoma is the largest indication in the blood and bone marrow cancer treatment market. It is prevalent across the globe in two types of Hodgkin lymphoma and non-Hodgkin lymphoma. The main variables responsible for increasing prevalence worldwide are increasing the prescription of immunosuppressive drugs for the treatment of chronic infections and genetic mutations. Leukemia occurs when the DNA of immature white blood cells is damaged by exposure to ionizing radiation, hazardous chemicals, smoking, etc. The prevalence rate of leukemia is highly variable across different ethnic groups with a male-to-female ratio of 1.4.

Chemotherapy is part of the blood and bone marrow cancer therapy market. The key factor responsible for increasing demand is the availability of its generic version at an affordable cost, which significantly reduces the health burden on sick patients. Oncologists prefer to use them in combination therapy with either radiotherapy or immunotherapy to treat patients with resistance to first-line drug therapy. Immunotherapy will be the fastest growing segment in the forecast period due to its promising drug line for the treatment of blood cancer.

North America representing a market share of 34.6% is dominating the regional segment for blood and bone marrow cancer treatment market. The chief contributing factor for its market supremacy is growing incidence of blood cancer. As per the research citings of the Leukemia and Lymphoma Society (CDC) figures after every 3 minutes 1 person in the U.S. is diagnosed with blood cancer. In 2019, approximately 176,200 people in the U.S. are diagnosed with blood cancer in the United States. Existence of key players such as F.Hoffman La-Roche Ltd., Pfizer, Inc., Novartis AG, Merck & Co., Inc., etc further strengthens the market growth. Europe holds a market share of 30.8% owing to the supportive regulatory framework provided by the European Medical Agency for the development and sale of medication for the treatment of blood cancer. Asia Pacific accounts for 18.4% market share on account of rising public health awareness related to blood cancer & its treatment and developing healthcare infrastructure.

Pharmaceutical companies spearheading the blood and bone marrow cancer treatment market are Bristol Myers Squibb & Company, AstraZeneca, Plc., Eli Lilly & Company, Johnson and Johnson Company, F.Hoffman La-Roche Ltd., Celgene, Inc.,  Merck & Co., Inc., Novartis AG, Varian Medical Systems, Inc. and Pfizer, Inc.

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Key Market Movements:

  • Growing incidence of blood cancer worldwide
    • Affordable reimbursement scenario for the medicines employed n the treatment of blood cancer
    • Rising public health awareness and promising drug pipeline to propel the market growth in the near future

Report Scope by Segments

By Indication Type

  • Multiple Myeloma
  • Leukemia
  • Lymphoma
  • Others

By Therapy Type

  • Chemotherapy
  • Immunotherapy
  • Stem Cell Transplant
  • Radiotherapy

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

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