Global Stem Cell/Cord Blood Banking Market

Wearable Blood Pressure Monitor Market Definition

The wearable blood pressure monitor market consists of the sale of wearable blood pressure monitors and related services. The market comprises of revenue generated by business enterprises that manufacture, develop and sell wearable blood pressure monitors. Wearable blood pressure monitors are devices that continuously monitor blood pressure even during activities such as exercise and sleep using technology that is connected to the wearer`s body. The data is stored and analyzed through an app. A wearable blood pressure monitor is a wearable pocket-sized blood pressure monitor that has a small real-time graphical display and provides reports and/or synchronizes data with smart phones and PCs. They are usually battery operated and store data.

The stem cell/cord blood banking global market consists of sales of stem cell/cord blood banking services and related goods. Cord stem cells are referred to as regenerative medicines which help in regeneration of tissues or cells in the body. Stem cells therapy is designed to aid the physician in performing medical treatment of different types of cancers, neurodegenerative diseases, graft-versus-host disease and heart diseases. The stem cell/cord blood banking market covered in this report is segmented by cell type into adult stem cells, umbilical cord blood stem cells, embryonic stem cells. The stem cell/cord blood banking global market is also segmented by service into collection, processing, analysis, storage; by bank type into public, private; by application into leukemia, anemia, thalassemia, autism, cerebral palsy, diabetes, others. The global stem cell/cord blood banking market is expected to grow from $8.16 billion in 2020 to $8.61 billion in 2021 at a compound annual growth rate (CAGR) of 5.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The stem cell/cord blood banking global market is expected to reach $12.51 billion in 2025 at a CAGR of 9.8%. Increasing number of cancer patients is a major driver for the stem cell /cord blood banking market. Cancer diseases such as leukemia and multiple myeloma can be treated by stem cell transplant. In stem cell transplant, treatment can be either done by autologous transplant in which the stem cells come from the same person who gets the transplant or by allogeneic transplant in which means the stem cells come from a matched related or unrelated donor. By using stem cells in the treatment of cancer, the blood forming stem cells which are damaged during chemotherapy can be restored. According to the American Cancer Society, in 2019, around 606,880 deaths were caused in USA due to prevalence of the cancer which can be treated by transplanting the stem cells. Lack of awareness especially among pregnant women is a major restraint for the stem cell/cord blood banking market. This is mainly because a majority of pregnant women are unaware of the functioning of the public cord blood banks. Hence, this option is not fully explored despite the advantages of stem cell transplantation in treating cancer. For example, according to the survey by International Journal of Reproduction, Contraception, Obstetrics and Gynecology (IJRCOG), only 45% of pregnant women were informed about the uses of umbilical cord blood during pregnancy, just 5% were aware about the cost of the procedure and less than 1% were aware about the availability of cord blood banking. Pairing of cord blood and tissue storage with genetic testing services is an emerging trend in the stem cell/cord blood banking market. Such pairing is possible and efficient because of its complimentary services to the existing clients, thereby helping in expanding their product portfolio. For example, genetic testing company Natera launched the Evercord cord blood and tissue storage service that enables expectant parents to collect, store and potentially retrieve their newborn's cord blood and tissue for therapeutic use in transplantation and regenerative medicine applications. The US Food and Drug Administration (FDA) outlines guidance related to stem cells/cord blood banking in accordance with section 212 of the Small Business Regulatory Enforcement Fairness Act (Public Law 104-121). As per this act, stem cells sourced from cord blood for unrelated allogeneic use are regulated by the FDA, and, in order to distribute these products, distributors need to get a license from the FDA. These licenses are provided by the FDA after reviewing the manufacturing and the storage conditions. In this regard, the American Association of Blood Banks (AABB) and other regulatory agencies also work with the FDA. Hence, the regulatory scenario related to the stem cells/cord blood banking market is expected to keep a check on companies involved in this market. In September 2019, CBR, a California Cryobank Life Sciences company acquired Natera's Evercord cord blood and tissue banking business for an undisclosed amount. This acquisition will allow Natera to focus squarely on its core genetic testing business in reproductive health, oncology and organ transplantation. Natera Inc, a genetic testing company that operates a CLIA-certified laboratory in San Carlos, California. Major players in the stem cell/cord blood banking global market are AMAG Pharmaceuticals, Cordlife, Cryo-Cell International, Esperite, and Americord Registry LLC. The regions covered in the stem cell/cord blood banking global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the stem cell/cord blood banking global market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global stem cell/cord blood banking market is segmented - 1) By Cell Type: Adult Stem Cells, Umbilical Cord Blood Stem Cells, Embryonic Stem Cells 2) By Service: Collection, Processing, Analysis, Storage 3) By Bank Type: Public, Private 4) By Application: Leukemia, Anemia, Thalassemia, Autism, Cerebral Palsy, Diabetes, Others

The blood and blood components market consist of sales of blood and blood component. The market involves collection of donor's blood and segregating it into required components for the purpose of therapy. The blood and blood components market covered in this report is segmented by product into whole blood, blood components. The blood and blood components market is also segmented by end-users into hospitals, ambulatory surgical centers, others; by application into anemia, trauma & surgery, cancer treatment, bleeding disorders; by blood components into red blood cells, platelets, plasma, white blood cells. The global blood and blood components market is expected to grow from $36.47 billion in 2020 to $38.43 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The blood and blood components market is expected to reach $45.18 billion in 2025 at a CAGR of 4.1%. The blood and blood components market is being driven by increasing incidence of trauma and road accidents. Sometimes, because of traumas such as hemorrhage, the volume of blood is reduced to a very low level and cannot be replaced fast enough by the body. Also, road accidents cause excessive blood loss from the body that has to be restored immediately. At times, the blood itself lacks a few components as in the case of hemophilia. All these conditions demand transfusion of blood and blood components into the patient's body. The growing prevalence of diseases and increasing numbers of road accidents and traumas are increasing the demand for blood and thus driving the market. According to a report by Globenewswire, in 2019, around 20,000 men suffer from Hemophilia in the US alone. Also, as per US NIH data, in 2019, traumatic injury was found to be the foremost reason of mortality among 1-40 years old people. The blood and blood components market is restrained by the growing risk of developing or transferring an infection while the blood is transmitted to the patients. The growing possibilities of developing any transfusion transmitted infection (TTI) is imposing a restriction on the growth of the market. The fear of transfusion of diseases from the donor to the recipient, forces many customers to avoid using donated blood, thus hampering the growth of the blood and blood components market. The most common viral agents that can be transmitted through blood transfusion are Human Immunodeficiency Virus (HIV), hepatitis viruses, West Nile Virus (WNV), Human T-cell Lymphotrophic Viruses (HTLVs). The most prominent trend that has been witnessed in the blood and blood components market is the growing number of collaborations between the players involved in the market. Companies are adopting partnerships and collaborations in order to expand their reach, increase customer base and generate awareness in the market. For example, the American Red Cross collaborated with HealthStream with an aim of introducing new program for healthcare organizations. Similarly, the BloodCenter of Wisconsin collaborated with SysLogic Inc., to study how the RFID technology can be used to enhance safety of the patient while collecting and transfusing blood products. The blood and blood components market in European Union is governed by Directive 2002/98/EC of the EU regulations. The regulatory body engages itself in providing guidelines and setting standards for quality and safety of collection, testing, processing, storage, and distribution of blood and blood components. These guidelines ensure greater quality and safety of whole blood and its components to prevent transmission of diseases and also highlight necessary measures for their collection and distribution. In March 2019, Grifols SA, Barcelona-based company acquired a 26% stake in Shanghai RAAS Products Co., Ltd. for $1.9 billion. As per the agreement, Grifols agreed to share its technological know-how and engineering services with Shanghai RAAS. The acquisition was undertaken to manufacture, commercialize and develop plasma products and transfusion diagnostic solutions in China. Shanghai RAAS Products Co., Ltd., a China-based company that is primarily engaged in the research and development, manufacture and distribution of blood products. Major players in the blood and blood components market are American Red Cross, Australian Red Cross Blood Service, Abbott Laboratories, Blood Centers of America, and Becton, Dickinson & Co. The regions covered in the blood and blood components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the blood and blood components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global blood and blood components market is segmented - 1) By Product: Whole Blood, Blood Components 2) By End-Users: Hospitals, Ambulatory Surgical Centers, Others 3) By Application: Anemia, Trauma & Surgery, Cancer Treatment, Bleeding Disorders 4) By Blood Components: Red Blood Cells, Platelets, Plasma, White Blood Cells

The market for patient blood management consists of sales of instruments, accessories, software, reagents and kits used in the management of blood and blood products of patients. Patient blood management is a patient-focused, evidence-based and systematic approach to optimize care of patients, who might need a blood transfusion, by optimizing patients’ own blood, minimizing surgical blood loss and harnessing the patient-specific physiological reserve of anemia thereby reducing the need of allogenic blood transfusions. The market consists of revenue generated by the companies manufacturing the patient blood management requirements by the sales of these products. The patient blood management market is segmented by product into instruments, accessories, reagents and kits, software. The patient blood management market is also segmented by component into plasma, whole blood, red blood cells and by application into hospital, clinic, others. The market is further segmented by instruments into blood processing devices, blood transfusion devices, blood culture screening devices, diagnostic & testing instruments, blood storage devices, and by accessories into syringes & needles, vials & tubes, blood bags, other accessories. The global patient blood management market is expected to grow from $9.97 billion in 2020 to $10.87 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The patient blood management market is expected to reach $14.63 billion in 2025 at a CAGR of 8%. The rising number of accidents, trauma cases, and surgical procedures contributed to the growth of the global patient blood management market. According to WHO, 1.35 million people die every year due to road accidents, and low-income and middle-income countries account for 93% of the fatalities occurring in the world due to road accidents. According to the Centers for Disease Control and Prevention, 2019 show that 31.7% of all births were by cesarean and 25.6% of the NTSV population had cesarean births. Increased number of accidents, trauma cases and surgical procedures resulted in increased demand for blood and its products is the driving the global patient blood management market. The high cost associated with automated systems is expected to limit the growth of the global patient blood management market. Costs associated with an increasing regulatory requirement, infection testing and hospital administration, which includes initial project costs, personnel salaries, costs of equipment, outside resources and ongoing project costs make automation expensive. According to the Eastern Mediterranean Health Journal 2019, the expected cost of transfusion of one unit of red cells is within US$700–$1200. The high economic cost of automation is therefore expected to hamper the global patient blood management market. HEMAsavR is a sterile medical device to capture and transfer blood, which is increasingly being used to collect and salvage blood in surgical procedures and respond quickly to unanticipated blood loss. Clinicians can economically collect sterile, anticoagulated blood without any need for specialized resources. By this, the upfront shed blood collection cost decreases, allogenic transfusions can be avoided with improved outcomes such as decreased patient mortality, low incidence of infections and reduced risk of multi-organ failure. In August 2019, Ecomed Solutions, the developer and manufacturer of HEMAsavR received a contract from Vizient Inc, a healthcare performance improvement company to recommend HEMAsavR by hospital experts who serve as a Vizient member council. Major players in the patient blood management market are Haemonetics Corporation, Fresenius SE & Co. KGaA, Terumo Corporation, Immucor Inc., B. Braun Melsungen AG, Macopharma, bioMérieux SA, Asahi Kasei Corporation, Kaneka Corporation, and Bio-Rad Laboratories Inc. The regions covered in the patient blood management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the patient blood management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global patient blood management market is segmented - 1) By Product: Instruments, Accessories, Reagents And Kits, Softwares 2) By Component: Plasma, Whole Blood, Red Blood Cells 3) By Application: Hospital, Clinic, Others

The wearable blood pressure monitors market consists of the sale of wearable blood pressure monitors and related services. The market comprises of revenue generated by business enterprises that manufacture, develop and sell wearable blood pressure monitors. Wearable blood pressure monitors are devices that continuously monitor blood pressure even during activities like exercises, sleep, etc. using technology that is connected to the person's body. The data is stored and analyzed through an app. The wearable blood pressure monitors market covered in this report is segmented by product into wrist blood pressure monitor, upper arm blood pressure monitor, finger blood pressure monitor. The wearable blood pressure monitors market is also segmented by technology into Wi-Fi based, Bluetooth-based. The global wearable blood pressure monitors market is expected grow from $0.86 billion in 2020 to $1 billion in 2021 at a compound annual growth rate (CAGR) of 16.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The wearable blood pressure monitors market is expected to reach $1.8 billion in 2025 at a CAGR of 16%. Increased demand for patient monitoring devices is expected to drive the wearable blood pressure monitors market. The increasing prevalence of chronic diseases coupled with rise in surgeries that need continuous monitoring have mainly increased the demand for patient monitoring devices. Additionally, due to the growing awareness of healthy lifestyle and fitness, individuals are interested in continuous monitoring of their health as it acts as a preventive measure, while improving the health condition. The National Wearable Survey report iby Valencell, a wearable technology company, states that two–third of customers owned a wearable device as they believe that it causes a positive impact on their health. Nearly 55% of the respondents are interested in monitoring their blood pressure with the help of wearable technologies. Therefore, increased demand for monitoring devices is expected to drive the wearable blood pressure market. With the increasing use of wearable technologies for healthcare services, the need for evaluating the accuracy and the precision of these health trackers has increased in recent years. Studies showed that the wearable technologies lack accuracy and precision which is likely to impact the market growth. There are growing concerns regarding the accuracy of wearables. Accuracy is very much important for some health conditions. Hypertension patients use wearable blood pressure monitors as their medications and treatment plans are based on the blood pressure readings. Any wrong reading could be lethal. A study published by the journal Nature in February 2020, investigating sources of inaccuracy in wearable optical heart rate sensors, showed differences in heart rate on lighter skin and darker skin. Differences in readings among different wearable devices, and during rest and active conditions were also noted. Therefore, lack of precision is expected to hinder the growth of the wearable blood pressure monitors market. Most of the wearable blood pressure monitoring technologies are under either experimental or research and development stage. Companies and researchers are studying different wearable technologies that monitor the blood pressure. For instance, video from a smartphone is used to detect blood pressure by the variation in facial blood vessels. Valencell, a health-tech company, is working on an ear bud sensor for detecting the blood pressure using photoplethysmography. Also, Akttia bracelet, a cuff-less technology that uses an optical sensor for monitoring blood pressure is under validation. Therefore, more R&D in this field is expected to provide growth opportunities for wearable blood pressure market. In April 16, Medopad, a digital health company that was renamed to Huma, has acquired two artificial intelligence (AI) and wearable technology businesses in the UK, BioBeats and Tarilian Laser Technologies (TLT). The acquisition is to expand Huma’s digital biomarker expertise, enabling it to incorporate mental and cardiovascular health data through its platform. Tarilian Laser Technologies is a United Kingdom-based digital health start-up manufacturing and developing wearable blood pressure monitors. Major players in the wearable blood pressure monitors market are Blipcare, GE Healthcare, ForaCare Suisse, Omron, Xiaomi, Philips, Medaval, Qardio, and Smiths Group. The regions covered in the wearable blood pressure monitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the wearable blood pressure monitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global wearable blood pressure monitors market is segmented - 1) By Product: Wrist Blood Pressure Monitor, Upper Arm Blood Pressure Monitor, Finger Blood Pressure Monitor 2) By Technology: Wi-Fi Based, Bluetooth Based 3) By Application: Hospital, Clinic, Home Care Settings, Others

The blood glucose meters market consists of sales of blood glucose meters that are used to measure and display the amount of sugar (glucose) in the blood. The global blood glucose meters market is expected to grow from $2.92 billion in 2020 to $3.99 billion in 2021 at a compound annual growth rate (CAGR) of 36.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.96 billion in 2025 at a CAGR of 5.6%. Rising prevalence of diabetes is driving the blood glucose meters market. The changing lifestyle, increase in alcohol consumption, physical inactivity and unhealthy eating habits are leading to an increase in obesity across the globe. Such exponential growth in obese people is causing a stern increase in the purchase of blood glucose meters. Due to obesity, fat tissues release more fat molecules into the blood affecting insulin responsive cells, which results in reduced insulin sensitivity, in turn, causing diabetes. According to the study by the International Diabetes Federation (IDF), there will be a 48% increase in diabetes around the world by 2045. According to the International Diabetes Federation (IDF) in 2019, nearly 4.2 million deaths were caused by diabetes. The blood glucose meters market growth is restricted due to lack of awareness of diabetes. Hypo unawareness is a common term used to describe the people who have diabetes, especially type 1 diabetes, it is very difficult to notice when they have low blood glucose, hypoglycemia. Such lack of awareness of diabetes and its effects reduces the regular monitoring or check-ups relating to diabetes. For example, in 2019, 463 million adults had diabetes, but more than 1 in 4 did not know that they had the disease. Also, in 2019, According to the International Diabetes Federation (IDF) One in two (50.1%) patients with diabetes do not recognize that they have diabetes. FDA regulates the blood glucose meters. FDA has released its guidance for the accuracy of blood glucose meters. For blood glucose meters used in home by patients with diabetes, FDA states that 95% of the measured blood glucose levels should be within 15% of the lab tested value and 99% of the measured values should be within 20% of the lab tested value. For point of care blood glucose monitoring devices, 95% of the monitored values must be within the range of 12% for blood sugars more than 75mg/dl and must be within 12mg/dl for blood sugars less than 75mg/dl. Also, 98% of the meter values must be within 15% of the range for blood sugars more than 75mg/dl and must be within 15mg/dl for blood sugars less than 75mg/dl. In October 2018, Platinum Equity, California-based private equity investment firm acquired LifeScan, Inc. from Johnson & Johnson for $2.1 billion. With this acquisition, Platinum Equity helps LifeScan to improve the quality of products. LifeScan, Inc., a diagnostic systems manufacturer with products focusing on the diabetes market, specifically blood glucose monitoring systems. Major players in the market are Abbott, Roche, Medtronics, Ascensia and Dexcom. The countries covered in the global blood glucose meters market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global blood glucose meters market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global blood glucose meters market is segmented - 1) By Product Type: Electrode Type Blood Glucose Meter, Photoelectric Blood Glucose Meter 2) By End User: Hospitals, Home Care 3) By Application: Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes

The anemia and other blood disorder drugs market consists of sales of anemia and other blood disorder drugs and related services. Anemia and other blood disorder drugs that are used to stimulate red blood cell production or hemoglobin in the human body include Erythropoietin (Epoetin alpha), Ferrous Sulfate, Iron Dextran, Deferoxamine, Immunosuppressant, Bone marrow stimulants, Corticosteroids, Aminoxin, Hespan, Hextend, and Pyridoxine. The market also comprises of sales of drugs that are responsible for curing other blood disorders, including inherited orphan blood disorder. The global anemia and other blood disorder drugs market is expected to grow from $52.24 billion in 2020 to $53.43 billion in 2021 at a compound annual growth rate (CAGR) of 2.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $84.59 billion in 2025 at a CAGR of 12.2%. The increasing prevalence of anemia among the global population acts as a strong driving factor for the market. Unhealthy lifestyles, changing dietary habits and increased stress levels increased the cases of anemia worldwide. For instance, anemia was found to be the most frequent disease in the elderly population (> 65 years of age), reaching a prevalence rate of around 17%. The World Bank reported that anemia is the 8th leading cause of disease among women and the young population. Growth in the prevalence rate of anemia drives the market. There has been an increase in the use of biologics for treating anemia and other blood disorders. Biologics are composed of protein, sugar, nucleic acids, or a combination of these substances or might be derived from living organisms like humans, animals, or microorganisms or that may contain components of living organisms. The growth in the use of biologics over the drugs restricts the market resulting in the decline of the number of drugs being used for the treatment of anemia & other blood disorders. For example, Hospira, a medical device and pharmaceutical company, submitted its first biologics license application to FDA for the approval of a drug that treats anemia. Moreover, the FDA approved the first Epoetin Alfa biosimilar for the treatment of anemia caused by chronic kidney disease, chemotherapy, or use of zidovudine in patients with HIV infection. The increase in the use of biologics will hamper the growth of the market. Companies in the anemia and other blood disorder drugs market are collaborating with other companies to develop and commercialize a specific kind of drug by sharing the knowledge, technology, and cost. Such collaborations are also helpful to the companies in case of expiring licenses and stringent regulatory environment. For example, in 2020, Akebia Therapeutics announced a collaboration with Tobacco Inc to treat adult patients with iron deficiency anemia. Another such example is, Akebia Therapeutics Inc. and Otsuka Pharmaceutical Co. Ltd. entered into an agreement to manufacture and commercialize Vadadustat, an oral HIF stabilizer, used for the treatment of anemia. The anemia and other blood disorder drugs market is governed by several regulatory bodies that regulate their functioning by carrying out quality checks for that drug before it can be launched in the market. For instance, the U.S. Food & Drug Administration (FDA) requires every pharmaceutical company to get their drugs examined by the concerned authority. FDA sorts to a Risk Evaluation and Mitigation Strategy (REMS) for determining the safety and quality standards of the drug and grants approvals only if the standards are up to the mark. In 2019, AMAG Pharmaceutical, an American pharmaceutical company agreed to acquire Perosphere for $415 million. The acquisition would result in expanding AMAG's pipeline and enhance its presence in the Hematology drugs market with the help of Perosphere's next-generation Anticoagulant reversal agent called Ciraparantag. Perosphere is a specialty pharmaceutical company focusing on rescue drug medications. The Company was established in 2011 and is headquartered in Danbury, Connecticut, USA. Major players in the market are Amgen Inc., GlaxoSmithKline plc, Akebia Therapeutics, Bayer AG and Pfizer, Inc. The countries covered in the global anemia and other blood disorder drugs market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global anemia and other blood disorder drugs market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global anemia and other blood disorder drugs market is segmented - 1) By Type: Iron Deficiency Anemia, Chronic Kidney Disease Anemia, Sickle Cell Anemia, Aplastic Anemia 2) By Distribution Channel: Hospitals Pharmacy, Online Pharmacy, Pharmacy 3) By Route of Administration: Oral, Injectable 4) By Anemia Type: Microcytic (Low MCV), Normocytic (Normal MCV), Macrocytic (High MCV)

The blood cancer drugs market consists of sales of drugs to treat all types of blood cancers. The blood cancer drugs market excludes biologics and includes establishments that produce drugs used in chemotherapy, surgery and radio therapies for treating leukaemia, 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 is expected to grow from $20.66 billion in 2020 to $21.6 billion in 2021 at a compound annual growth rate (CAGR) of 4.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $28.7 billion in 2025 at a CAGR of 7.4%. 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, leukaemia, myeloma and others have different risk factors where some can be controlled or prevented through drug therapies and others may lead to death. 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 national cancer institute, the estimated deaths due to blood cancer are expected to be around 22,840 in 2019. The increasing deaths and increasing incidence of blood cancer cases globally drives the blood cancer drug market. Drug approval involves series of research stages and regulatory approvals that are often expensive. Drug approval process include about four phases of clinical trials and various stages of screening process with the regulatory body such as FDA. The costs of failed clinical trials are also high as clinical trial phases involves huge investments. According to Tufts Centre for the Study of Drug Development, the cost of bringing a new drug from its conception to shelves is about $2.7 billion. Thus indicating that the high drug approval costs hinders the growth of the blood cancer drugs 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 analyse 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 time taken and costs incurred for drug development. For instance, Johnson and Johnson entered into an agreement with BenevolentAI, a UK-based artificial intelligence company (start-up), to mine data for designing new blood cancer drugs. The Food and Drug Administration (FDA) is a federal agency regulating the blood cancer drugs market. In June 2019, FDA declined to approve Daiichi Sankyo’s leukaemia drug for blood cancer treatment. Daiichi Sankyo, a global pharmaceutical company developing, importing and marketing pharmaceutical products received a rejection notice on its drug - quizartinib used for treating adults with a type of blood cancer. The rejection of drug was due to the negative impact caused after the intake which resulted in FDA's statement saying faulty application for blood cancer treatment in an internal review. To avoid the incidences caused by such medicines in treating medical conditions such as blood cancer, FDA has declined to the approval. In 2019, Eli Lilly, a US-based Pharmaceutical company, acquired Loxo Oncology, a cancer-focused biotechnology company for $8 billion. This acquisition of Loxo Oncology provides Lilly with a promising pipeline of investigational medicines such as oral RET inhibitor, oral BTK inhibitor and others. The deal would enable Lilly to attain strong patent on Loxo's genetically based approach to treat cancer. Loxo Oncology, is a biopharmaceutical company, developing and selling medicines for patients with genetically defined cancers. The company focuses on building small molecule cancer drugs for genetically defined cancer patients. The company was founded in 2013 and is headquartered in Stamford, Connecticut, USA. Major players in the market are Amgen Inc., AstraZeneca PLC, Bayer AG, Celgene Corporation, Eli Lilly. The countries covered in the global blood cancer drugs market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global blood cancer drugs market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global blood cancer drugs market is segmented - 1) By Blood Cancer Type: Leukemia, Lymphoma, Myeloma 2) By Drugs: Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), Others 3) By Treatment Approaches: Key Findings, Chemotherapeutic, MAbs/Targeted Therapies, Immunotherapeutic