Blood cancer is a general term used for the cancers that affect blood, bone marrow or lymphatic system. Most of these cancers start in bone marrow where blood cells (RBC, WBC and platelets) are produced from bone marrow stem cells. In cancerous condition, differentiation of bone marrow stem cells is interrupted to produce abnormal blood cells which hamper the normal functioning of the blood. There are 4 types of blood cancers such as leukemia, Hodgkin lymphoma (HL), non-Hodgkin lymphoma (NHL) and multiple myeloma. Blood cancers develop due to combination of genetic and environmental factors including but not limited to exposure to ionizing radiation, benzene and other petrochemicals, prior chemotherapy, smoking etc.
Plenty of chemotherapeutic agents are available commercially for the treatment of blood cancer such as Leukeran, Gleevec, Cytarine, Neosar, Oncotrex etc. Several new drugs for blood cancer treatment are in clinical trials such as Panobinostat (Phase 2), Bortezomib (phase 4), Oncofetal Ag (phase 1), Volasertib (phase 2) which are likely to launch in next 5-10 years.
Blood Cancer Treatment Market: Drivers and Restraints
High incidence rate of blood cancers in US (leukemia-13.0, NHL-19.8, HL-2.7, myeloma-6.7 cases per 100,000 population in 2014) is the major driver for the growth of blood cancer treatment market in US. Advancement in technology, personalized medicine, cost effective treatment procedures are few other factors predicted to keep up the growth of global blood cancer treatment market. However, divergent nature of blood cancers and increasing stringency in the regulatory requirements are some of the major restraints limiting the growth of global blood cancer treatment market.
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Blood Cancer Treatment Market: Segmentation
The global blood cancer treatment market has been classified on the basis of application, end use and geography.
Based on application, the global blood canner treatment market is divided into following:
- Radiation therapy
- Targeted therapy
- Stem cell transplantation
Based on end user type, the global blood canner treatment market is divided into following:
- Cancer rehabilitation centers
Blood Cancer Treatment Market: Overview
Due of the availability of variety of chemotherapeutic agents for the blood cancer treatment, market for chemotherapeutic agents is expected to hold a greater share in global blood cancer treatment market. Innovative blood cancer treatment procedures are expected to launch into the market in the forecast period. This will also help to increase the market volume. However, expiry of some of the commonly used drugs such as Erbitux (2014), Rituxan (2019), Gleevec (2015), Herceptin (2023) is anticipated to uplift the generic cancer market within the forecast period. Monoclonal antibodies and other immunological treatments are generally known for their lesser side effects and better efficacy. Few biological agents like Peg interferone α-2b and Drotrecogine α are already launched into the US market which are expected to generate the remarkable revenue.
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Blood Cancer Treatment Market: Regional Overview
Geographically, the global blood cancer treatment market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa.North America takes the largest share of global blood cancer treatment market followed by Europe. The global blood cancer treatment market is expected to grow in future due to increasing investment by multinational companies in cancer research.
Blood Cancer Treatment Market: Key Players
Roche group is one of the leading provider of blood cancer treatment drugs. Some of the key players in blood cancer treatment market are Novartis Pharmaceuticals, Merc & Co., Inc., Bristol-Myers Squibb Company, AbbVie Inc., Johnson & Johnson Pvt. Ltd., Celgen Corporation, Amgen Inc., Teva pharmaceutical Industries Ltd., Bayer AG, Pfizer Inc., Takeda Pharmaceutical Co. Ltd. To name a few.