Global Blood Cancer Therapeutics Market Advances at Impressive 11.0% CAGR

WELLESLEY, Mass., January 9, 2019 (Newswire.com) - As a result of the rising incidence of blood cancer, increased funding for cancer treatment and the development of highly sensitive tests, the global blood cancer therapeutics market is progressing at a rapid rate, according to BCC Research's report “Blood Cancer Therapeutics: Global Markets to 2023.”

According to the report, the global market for blood cancer therapeutics was valued at $38.5 billion in 2018 and is expected to reach $64.8 billion by 2023 at a compound annual growth rate (CAGR) of 11.0% during the forecast period.

Major players in the market include Roche Holding AG, Novartis, Celgene Corp., Pfizer Inc., Bristol-Meyers Squibb Co., Johnson and Johnson, Merck & Co., Inc., AstraZeneca plc, Eli Lilly and Company, Takeda Pharmaceutical Co. Ltd, Astellas Pharma Inc., AbbVie, and Sanofi.

Research Highlights:

• North America holds 39.5% of the global market, driven by the increase in the incidence of blood cancers in developed countries and higher socioeconomic groups due to genetic factors.
• Lymphoma is the fastest growing segment in the overall market growing at a CAGR of 12.2% during the forecast period.
• The multiple myeloma pipeline is dominated by several investigational therapies which include both small-molecules and immunotherapeutic approaches.

“Governments and non-government organizations (NGOs) have launched several screening and testing programs to diagnose blood cancer,” the report states. “Early blood cancer diagnosis and prompt, effective treatment can reduce the risk of leukemia, lymphoma, and myeloma transmission, and deliver clinical benefits.”

Expansion Within the Global Leukemia Therapeutic Market

The global leukemia therapeutic market is expected to reach $23.2 billion by 2023. The market holds tremendous growth opportunities due to an increase in public and private initiatives to diagnose the disease, a rise in the number of biopsies conducted annually and the availability of novel drugs.

Editors/reporters requesting analyst interviews should contact Eric Surber at [email protected].

Source: BCC Research