(Companies: Amgen Inc., AstraZeneca PLC, Bayer AG, Celgene Corporation, Eli Lilly)
The global blood cancer drugs market was valued at about $33 billion in 2018. North America was the largest region in the blood cancer drugs market in 2018, followed by Europe.
The blood cancer drugs market excludes biologics and includes establishments that produce drugs used in chemotherapy, surgery and radio therapies for treating leukemia, lymphoma, and myeloma. The blood cancer drugs include Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin) and others.
The global blood cancer drugs market (https://www.thebusinessresearchcompany.com/report/blood-cancer-drugs-global-market-report) is expected to grow to $43.74 billion at a rate of about 7.3% through 2022. The blood cancer drugs market is being driven by the growing death incidences and increasing prevalence of blood cancer cases across the globe. Different types of blood cancers such as lymphoma, leukemia, myeloma and others have different risk factors where some can be controlled or prevented through drug therapies and others may lead to death. The increasing deaths and increasing incidence of blood cancer cases globally drives the blood cancer drug market.
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 players in the market are Amgen Inc., AstraZeneca PLC, Bayer AG, Celgene Corporation, Eli Lilly. Bayer AG is a German multinational pharmaceutical and Life Sciences Company, and one of the largest pharmaceutical companies in the world.
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