The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s blood cancer drugs market report forecasts the blood cancer drugs market size to grow to $87.74 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Blood Cancer Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/blood-cancer-drugs-global-market-report

Blood Cancer Drugs Market Size Forecast
The global blood cancer drugs market is expected to grow from $61.05 billion in 2022 to $66.17 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global blood cancer drugs market size is expected to grow to $87.74 billion in 2027 at a CAGR of 7.3%.

North America held the largest blood cancer drugs market share, and Middle East was the fastest-growing region in 2022.

Key Blood Cancer Drugs Market Driver ­– Growth In Death Incidences And Increase In The Prevalence Of Blood Cancer Cases
According to the Bristol-Myers Squibb Company report, over 1.85 million new blood cancer cases are expected to be diagnosed across the globe in 2040, out of which 918,872 cases are from lymphoma, 656,345 from leukemia, and 275,047 cases from myeloma. Furthermore, the report estimated, that in 2040, the approximate number of deaths worldwide due to blood cancer will be 1,100,000The increasing deaths and increasing incidence of blood cancer cases globally drive the blood cancer drug market.

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Key Blood Cancer Drugs Market Trend – Increasingly Investing In Technologies
Companies in the blood cancer drugs market are increasingly investing in technologies such as artificial intelligence (AI) to save time and reduce research and development costs. AI is the simulation of human intelligence processes by machines, especially computer systems, which has the potential to surpass human intelligence levels. This technology helps to analyze large sets of chemical and biological data to identify potential drug candidates with higher success rates and at a quicker pace when compared to human analysis. The technology also helps in speeding up the patient recruitment process by matching blood cancer patients with the most relevant clinical trials, thus lowering clinical trial costs. Major blood cancer drug manufacturers such as Roche, Pfizer, and Johnson and Johnson have already invested in AI technologies to reduce the time taken and costs incurred for drug development. For instance, Johnson and Johnson agreed with BenevolentAI, a UK-based artificial intelligence company (start-up), to mine data for designing new blood cancer drugs.

Blood Cancer Drugs Market Segment
1) By Blood Cancer Type: Leukemia, Lymphoma
2) By Drugs: Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), Other Drugs
3) By Treatment Approaches: Key Findings, Chemotherapeutic, mAbs/Targeted Therapies, Immunotherapeutic

Blood Cancer Drugs Market Major Players and Strategies
Major players in the blood cancer drugs market are Amgen Inc., AstraZeneca PLC., Bayer AG, Celgene Corporation, Eli Lilly, Johnson & Johnson, Novartis, Pfizer Inc., AbbVie Inc. and Takeda Pharmaceutical Company Ltd.

In July 2022, GSK, a UK-based pharmaceutical company acquired Sierra Oncology for an undisclosed amount. Through this acquisition, GSK company expands its oncology portfolio. Sierra Oncology is a US-based company that develops drugs for cancer including blood cancer.

The Blood Cancer Drugs Global Market Report 2023 covers regional data on blood cancer drugs market size, blood cancer drugs market trends and drivers, opportunities, strategies, and blood cancer drugs market competitor analysis. The countries covered in the blood cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Blood cancer drugs refer to the drugs or medications that used to treat blood cancer drugs by using the body’s immune system to fight blood cancer by slowing down the growth of cancer cells. Chemotherapy, biological therapy, targeted therapy, radiation therapy, and stem cell transplant are a few of the frequently used blood cancer treatments.

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Cancer Diagnostics Global Market Report 2023

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