Industry Outlook
The blood and bone marrow cancer treatment market is set to reach from US$ 38.8 Bn in 2018 to US$ 74.9 Bn by 2027 at a compound annual growth rate (CAGR) of 7.7% during the forecast period from 2019 to 2027. As per the research findings brought forward by Janssen Pharmaceutica N.V. approximately 900,000 people throughout the globe are diagnosed with blood cancer annually, it holds a share of 7% of all types of known cancer.
Market Synopsis
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"Increasing prescription of immunosuppressive drugs for treating chronic infections and genetic mutation together are responsible for the growing incidence of lymphoma worldwide"
Lymphoma is leading the indication segment for blood and bone marrow cancer treatment market. Hodgkin lymphoma and Non-Hodgkin lymphoma are the 2 types prevalent worldwide. The important parameters responsible for its growing incidence throughout the globe are increasing prescription of immunosuppressant drugs for treating chronic infections and genetic mutations. Leukemia occurs when the DNA of immature white blood cells gets damaged due to exposure to ionizing radiation, hazardous chemicals, smoking, etc. The prevalence rate varies according to ethnicity with high occurrence in men in comparison to women population worldwide.
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"Strong product pipeline will ensure rampant market growth for immunotherapy during the forecast period"
Chemotherapy is dominating the therapy segment for blood and bone marrow cancer treatment market. The primary factor responsible for its increasing prescription worldwide is the availability of its generic version at affordable cost, drastically reducing the healthcare burden on ailing patients. Oncologists frequently use them in combination therapy either with radiotherapy or immunotherapy to treat patients showing resistance to first-line drug therapy. Immunotherapy is set to register impressive growth in the near future on account of its promising product pipeline which will be commercially available during the forecast period.
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"Rising prevalence of blood cancer and affordable reimbursement scenario for the medicines employed in its treatment together drive the market growth in North America"
North America with a market share of 34.6% is currently reigning the regional segment for blood and bone marrow cancer treatment market. The chief contributing factor for its market dominance is rising prevalence of blood cancer. According to the Leukemia and Lymphoma Society (CDC) facts and figures approximately after every 3 minutes 1 person in the U.S. is diagnosed with blood cancer. In 2019, in the United States, approximately 176,200 people are diagnosed with either leukemia, myeloma or lymphoma. Affordable reimbursement scenario for the medicines employed in its treatment is another important factor that contributes towards its regional market growth. Europe holds a share of 30.8% primarily due 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 represents 18.4% market share on account of rising public health awareness related to blood cancer & its treatment and developing healthcare infrastructure.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market segmentation comprises of by indication, therapy, and geography.
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
By Indication (2017–2027; US$ Bn)
• Multiple Myeloma
• Leukemia
• Lymphoma
• Others
|
|
By Therapy (2017–2027; US$ Bn)
• Chemotherapy
• Immunotherapy
• Stem Cell Transplant
• Radiotherapy
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
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.
Key questions answered in this report
- Which pharmaceutical companies are providing medications for the treatment of blood and bone marrow cancer?
- What are the drivers' opportunities and restraints studied in the blood and bone marrow cancer treatment market?
- What is the prevalence rate of different types of blood cancer?
- What are the factors responsible for the large market share of chemotherapy?
- What will be the market performance of Asia Pacific, Middle East and Africa and Latin America during the forecast period?
