The global market for the treatment of blood and bone marrow cancer was estimated at US$ 38.8 billion in 2018 and is expected to reach US$ 74.9 billion by 2027, up 7.7% from 2019 to 2027.
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Market Insights
Blood cancer begins in the bone marrow, which is the integral source of stem cells that are subsequently differentiated in the human body in different blood cell types. Researchers at Bristol Myers Squibb Company have stated that around 1.85 million new blood cancer cases will be diagnosed worldwide by 2040.
Lymphoma is the largest indication segment on the cancer treatment market for blood and bone marrow. It is common throughout the globe in 2 types of Hodgkin lymphoma and non-Hodgkin lymphoma. The main variables responsible for its increasing prevalence worldwide are increasing immunosuppressive drug prescription for the treatment of chronic infections and genetic mutations. Leukemia occurs when exposure to ionizing radiation, hazardous chemicals, smoking, etc. damages the DNA of immature white blood cells. Leukemia prevalence rate varies widely across different ethnic groups with a ratio of 1.4 between men and women.
Chemotherapy dominates the blood and bone marrow cancer treatment market in the therapy segment. The key parameter responsible for its increasing demand is the availability of its generic version at affordable cost, drastically reducing the burden on the patients suffering from ailment. In combination therapy, oncologists prefer to use them with either radiotherapy or immunotherapy to treat patients with first-line drug therapy resistance. Due to its promising drug pipeline for the treatment of blood cancer, immunotherapy will be the fastest growing segment during the forecast period.
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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.
Key Market Movements:
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Browse the full report at https://www.credenceresearch.com/report/blood-and-bone-marrow-cancer-treatment-market
Market Insights
Blood cancer begins in the bone marrow, which is the integral source of stem cells that are subsequently differentiated in the human body in different blood cell types. Researchers at Bristol Myers Squibb Company have stated that around 1.85 million new blood cancer cases will be diagnosed worldwide by 2040.
Lymphoma is the largest indication segment on the cancer treatment market for blood and bone marrow. It is common throughout the globe in 2 types of Hodgkin lymphoma and non-Hodgkin lymphoma. The main variables responsible for its increasing prevalence worldwide are increasing immunosuppressive drug prescription for the treatment of chronic infections and genetic mutations. Leukemia occurs when exposure to ionizing radiation, hazardous chemicals, smoking, etc. damages the DNA of immature white blood cells. Leukemia prevalence rate varies widely across different ethnic groups with a ratio of 1.4 between men and women.
Chemotherapy dominates the blood and bone marrow cancer treatment market in the therapy segment. The key parameter responsible for its increasing demand is the availability of its generic version at affordable cost, drastically reducing the burden on the patients suffering from ailment. In combination therapy, oncologists prefer to use them with either radiotherapy or immunotherapy to treat patients with first-line drug therapy resistance. Due to its promising drug pipeline for the treatment of blood cancer, immunotherapy will be the fastest growing segment during the forecast period.
Download Free PDF Sample Request: https://www.credenceresearch.com/sample-request/59845
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.
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
- Multiple Myeloma
- Leukemia
- Lymphoma
- Others
- Chemotherapy
- Immunotherapy
- Stem Cell Transplant
- Radiotherapy
- North America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America
About Us
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Media Contact
Name: Chris Smith
Address: 105 N 1st ST #429,
SAN JOSE, CA 95103 US
Toll-Free (US/CANADA) Ph.: +1-800-361-8290
E-mail: sales@credenceresearch.com
Website: http://www.credenceresearch.com
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