Blood Cancer Drugs Market

The growing death incidences and increasing prevalence of blood cancer cases across the globe

The prevalence of blood diseases has been rapidly increasing in recent years. It is the fifth most commonly occurring disease, globally and the second leading cause of death. Every year globally, over 300,000 people are diagnosed with leukemia and 400,000 people are diagnosed with lymphoma. It has been estimated that blood cancer will account for 10.2% of the total new cases. 

According to 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 leukaemia, and 275,047 cases myeloma.

Furthermore, the report estimated, in 2040, the approximate number of deaths worldwide due to blood cancer will be 1,100,000. In 2019, more than 387,000 people are living with leukaemia in the United States and an estimated 68,000 deaths will result from blood cancer.

According to the National Cancer Institute, the estimated deaths due to blood cancer are expected to be around 22,840 in 2019. Hence, the increasing deaths and increasing incidence of blood cancer cases globally drives the blood cancer drugs market.

Formulations of new regulatory approvals for new drugs for blood cancer are expected to drive the growth 

In July 2021, Food and Drug Administration approved asparaginase erwinia chrysanthemi (recombinant)-rywn) (Rylaze, Jazz Pharmaceuticals, Inc.) as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL).

In June 2021, Food and Drug Administration approved avapritinib (Ayvakit™, Blueprint Medicines Corp.) for adult patients with advanced systemic mastocytosis (AdvSM), including patients with aggressive systemic mastocytosis (ASM), systemic mastocytosis with an associated hematological neoplasm (SM-AHN), and mast cell leukemia (MCL).

In 2020, CDER approved Inqovi (decitabine and cedazuridine), tablets, for treatment of adult patients with the blood cancers, myelodysplastic syndromes (MDS) or chronic myelomonocytic leukemia. 

Furthermore, in 2020, CDER approved a biosimilar to Rituxan (rituximab), Riabni (rituximab-arrx) to treat patients with non-Hodgkin lymphoma and chronic lymphocytic leukemia.

In August 2020, The U.S. Food and Drug Administration approved GlaxoSmithKline's experimental treatment for a common form of blood cancer. GSK's belantamab mafodotin, or BLENREP, was approved for treating adults with relapsed and refractory multiple myeloma who no longer respond to treatment with an immunomodulatory agent.

Hence, such new regulatory approvals for new drugs is expected to boost the blood cancer drugs market.

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Investment In Artificial Intelligence For Oncology Drugs

Companies in the blood cancer drugs market are rapidly investing in technologies such as artificial intelligence (AI) to save time and reduce R&D costs.

Artificial intelligence (AI) is the simulation of human intelligence processes by machines, particularly computer systems, with the potential to outperform human intelligence. When compared to human analysis, this technology aids in the study of large quantities of chemical and biological data in order to uncover prospective drug candidates with higher success rates and at a faster speed.

By matching blood cancer patients with the most relevant clinical trials, the technology also helps to speed up the patient recruiting process, lowering clinical trial expenditures.

Major blood cancer drug manufacturers like Roche, Pfizer, and Johnson & Johnson have already invested in AI technologies to lower drug development time and costs.

For example, Johnson & Johnson has partnered with BenevolentAI, a UK-based artificial intelligence start-up, to mine data for the development of new oncology drugs.

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