Global blood cancer market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market is growing at a healthy CAGR in the above-mentioned research forecast period.
Blood Cancer market report offers better solution for refining the business strategies to thrive in this competitive market place. A number of trustworthy sources such as journals, websites, and annual reports of the companies, white papers, and mergers have been referred for assembling the data and information mentioned in this industry report. Information and data provided through this industry analysis document can be very decisive for ABC industry when it comes to dominating the market or creating a mark in the market as a new emergent. The research study performed in the credible Blood Cancer business report also helps to understand the various drivers and restraints impacting the market during the forecast period.
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The major players covered in the global blood cancer market are Eli Lilly and Company, Merck & Co., Inc, F. Hoffmann-La Roche Ltd, Novartis AG, GlaxoSmithKline plc, Johnson & Johnson Services. Inc., AbbVie Inc., Amgen Inc., Bayer AG, Pfizer Inc., AstraZeneca, Bristol-Myers Squibb Company, Gilead Sciences, Inc., Takeda Pharmaceutical Company Limited, Daiichi Sankyo Company, Limited, UCB SA, Sumitomo Dainippon Pharma Co., Ltd, Otsuka Holdings Co., Ltd, Astellas Pharma Inc and others.
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- What all challenges manufacturers will face as well as new opportunities and threats faced by them.
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Global Blood Cancer Market Scope and Market Size
Global blood cancer market is segmented on the basis of type, therapy type, route of administration, end-users and distribution channel.
Based on type, the global blood cancer market is segmented into leukaemia, lymphoma and myeloma.
Therapy type for the global blood cancer market is segmented into chemotherapy, immunotherapy and targeted therapy. The targeted therapy section is further segmented into tyrosine kinase inhibitors, proteasome inhibitor, b-cell lymphoma-2 protein inhibitor, isocitrate dehydrogenase-1 inhibitor, hedgehog pathway inhibitor and others.
The route of administration segment for global blood cancer market is segmented into oral, parenteral and others.
On the basis of end-users, the global blood cancer market is segmented into hospitals, homecare, speciality centres and others.
On the basis of distribution channel, the global blood cancer market has been bifurcated into hospital pharmacy, online pharmacy and retail pharmacy.
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IMPACT OF COVID-19 ON BLOOD CANCER DRUG PRICE
As the pandemic increases cancer patients are facing major problems in treatment, diagnosis and medication. Surveys show that at least 50% of the 49 new oncology drugs launched between 2010 and 2014 are only accessible to patients in only a few countries including the United States, France, Germany, Canada, Italy and the United Kingdom. Most countries find the cost of these drugs significantly higher and this has led to limited adoption. Hence, increased drug costs are attributed to the demand for alternative oncology treatments and continued usage of older drugs.
The availability of targeted treatments, including biologics, small molecules, and immunotherapies are more likely to be offered in North America, Japan and Western Europe as compared to Eastern European countries. In addition to the issues of availability due to high cost, lack of favourable reimbursed scenario across the world is also impacting the market. To improve the availability and control the costs of cancer drugs, governments have made strict rules for the distributors, suppliers as well as pharmaceutical industries. The adverse impact of COVID-19 on movement and distribution of drugs is expected to impact the price due to lack of availability.
IMPACT OF COVID-19 ON DRUG DEMAND
As the patients are afraid of getting infected and transportation facilities are drastically disrupted the demand of cancer drugs are affected by the coronavirus pandemic. Due to COVID-19, social distancing increases and a smaller number of patients visit the cancer centres which delays in elective surgeries. As a result, the demand for online delivery of drugs is increasing.
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The global blood cancer market is majorly driven by high prevalence of blood cancer, rich promising pipeline of drugs, high diagnostics rate and vulnerable geriatric population.
Launches of drugs annually and advances in pharmaceuticals and biotechnological sectors or industries are some of the impacting factors that drives the market growth.
Limited revenue opportunities coupled with high treatment cost significantly and patent expiration are some of the prominent factors that hinder the growth of this market.
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