DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Blood Cancer Drugs Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2023" report to their offering.
The global blood cancer drugs market is projected to grow at a CAGR of 10.5 % to 11.5% from 2017 to 2023
Due to the improved healthcare systems across the world, the rate of diagnosis of blood cancers has improved significantly and it drives the demand for the blood cancer drugs. The presence of large geriatric population in the world is expected to provide more demand for the blood cancer drugs as blood cancers except acute lymphocytic leukaemia and Hodgkin's lymphoma affect aged people to a large extent.
Chemotherapeutic drugs segment is anticipated to garner more demand and drive the growth of the global blood cancer drugs market due to availability of wide range of various chemotherapeutic drugs for blood cancer. Moreover, owing to their effectiveness, the demand for personalised cancer drugs is expected to increase significantly during the forecast period. Increasing number of leukaemia patients is generating more demand for blood cancer drugs. As many of the leukaemia cases are undetected in initial stage, the emphasis is on effective drugs for recovery. The leukaemia segment is expected to drive the growth of the global blood cancer drugs market.
Biological drugs for cancer are attaining more demand despite the high cost, due to their effectiveness and minimal side effects in curing or bringing relief to the blood cancer patients. Additionally, biosimilars of respective biological cancer drugs are expected to attain significant demand in regions where the affordability of costly biological drugs is an issue. Similarly, immunotherapy for blood cancer is likely to grow significantly as an alternative for chemotherapy over the forecast period, due to the lesser side effects and improved efficiency. These segments are anticipated to enhance the growth of the global blood cancer drugs market during the forecast period.
The expiry of patents on some of the major chemotherapeutic blood cancer drugs in coming years is expected to provide opportunity for generic manufacturers to manufacture low-cost generic versions of those and it is expected to escalate the growth of the global blood cancer drugs market. Huge investments in research and development of blood cancer by major pharmaceutical companies are anticipated to further boost the global blood cancer drugs market during the forecast period.
The higher costs of blood cancer drugs and therapies and the lack of supportive reimbursement policies and insurance coverage for blood cancer therapies in many regions are the major restraints for the global blood cancer drugs market. Biosimilars of biological drugs and generics of chemical drugs for cancer is expected to provide opportunity for pharmaceutical companies to expand in the developing and least developed countries, where the high costs of traditional blood cancer drugs are unaffordable for patients, during the forecast period. Providing cost effective blood cancer drugs to the patients will be a major challenge for the major pharmaceutical companies, due to the high investments required for research and development and manufacturing, during the forecast period.
The report segments the global blood cancer drugs market by product and region. On the basis of product, the market is segmented as Rituaxan/Mabthera, Gleevac/Glivec, Revlimid, Velcade,Tasigna, Pomalyst, Vidaza, Kyprolis, Adcetris, and others.
Key Topics Covered:
2. Executive Summary
3. Global Blood Cancer Drugs Market Overview
4. Global Blood Cancer Drugs Market Analysis, by Product 2017-2023
5. Global Blood Cancer Drugs Market Analysis, by Region 2017-2023
6. Company Profiles
- AbbVie Inc.
- Amgen Inc
- Astellas Pharma Inc
- AstraZeneca PLC
- Bayer AG
- Bristol-Myers Squibb Company
- Celgene Corporation
- Eli Lilly
- F.Hoffmann-La Roche Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/3tgl97/blood_cancer