Amazing North America Blood Cancer Drugs Market Hacks

North America Blood Cancer Drugs market is estimated to grow at a CAGR of 7.1% during the forecast period (2022-2029) to reach a market value of USD YY million by 2029.

The large prevalence and incidence rate of blood cancers in the U.S. is the primary factor driving the regional growth. Awareness of early diagnosis and treatment of cancers, availability of advanced treatment procedures and drugs, advanced healthcare facilities, and financial aid in the U.S. and Canada have contributed to a significant market in the region

There are a large number of drugs approved for the treatment of various kinds of blood cancers in the United States. The list includes both branded and generic drugs and is widely used in combinations

Blood cancer is one of the most prevalent cancer types in the United States. The number of new cases of leukemia, lymphoma, and myeloma in the country is expected as 178,520 in 2020, which accounts for 9.9% of the total cancer cases diagnosed

According to the statistics of The Leukemia & Lymphoma Society (LLS), one person in the United States is diagnosed with a type of blood cancer every 3 minutes

The U.S. is leading in the treatment of all blood cancers with chemotherapy and radiation therapy being the most widely used treatment procedures. Chemotherapy is followed in both adults and children

Global market leaders such as Johnson & Johnson, Pfizer, Amgen, and Eli Lilly are all based and primarily operating in the North American region

These market players are also expanding their blood cancer drugs business with both organic and inorganic growth strategies

• In January 2019, Eli Lilly acquired Loxo Oncology, a U.S.-based manufacturer of target drugs for blood and other cancer treatments. Its proprietary BTK inhibitor Pirtobrutinib (LOXO-305) is  under clinical research for blood cancers
• FDA approved GSK’s blood cancer drug belantamab mafodotin (BLENREP) in August 2020. It is used for the treatment of relapsed and refractory multiple myeloma in adults
• In August 2020, FDA approved the use of DARZALEX (daratumumab) for use in combination with carfilzomib and dexamethasone in the treatment of multiple myeloma in adults

Also, the market is witnessing a large number of research activities led by private drug developers and state-funded researchers. National Cancer Institute is funding the development of leukemia treatment to make it more effective and less toxic

The presence of large pipeline drugs for Leukemia and other blood cancers is likely to reduce treatment costs, thereby improving financial accessibility to patients

However, the rigorous drug development process, stringent approval regulatory approvals, and costs associated with clinical trials are challenging the drug discovery activities

The safety and efficiency approval of these drugs are regulated by the federal agency –The U.S. Food and Drug Administration (FDA). In June 2019, the agency rejected approval for quizartinib, a drug developed by Daiichi Sankyo for the treatment of acute myeloid leukemia in adults.

Drug developers are adopting technologies such as Artificial Intelligence (AI) to reduce attrition rate, development cost, and time

In Canada, the prevalence of blood cancers is reported as 150,000 in 2020 with lymphoma and leukemia accounting for 30% and 16% of the total cases

Acute Myelogenous Leukemia (AML) is the leading type of adult leukemia in terms of death rate in the country. However, the survival rate is high among all cancer types with that reaching as high as 90% in some blood cancers

According to the Canadian Cancer Society (CCS), nearly 6,900 new cases of leukemia and another 10,400 new cases of non-Hodgkin lymphoma will be diagnosed in Canada in 2020. The Canadian Cancer Society (CCS) is the key governing body for the research and development of blood cancer treatment in the country. The association spent nearly USD 65 million during the period 2005-2020 towards the prevention and treatment of blood cancers

The demographic conditions, lifestyle and hereditary factors are resulting in an increased number of cases in the country. According to a study conducted by ComPARe (Canadian Population Attributable Risk of Cancer), lack of physical activity and excess weight are likely to contribute to 4-10% of blood cancers. Also, the study stated that tobacco consumption accounts for 22% of acute myeloid leukemia and the Epstein-Barr virus contributes to nearly 36% of Hodgkin lymphoma in Canadians

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