The global blood and bone marrow cancer drug market size was US$ 39.1 billion in 2021. The global blood and bone marrow cancer drug market is forecast to grow to US$ 79.8 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The growing cases of lymphoma, combined with the rising demand for chemotherapy, will fuel the growth of the global blood and bone marrow cancer drug market during the forecast period. In addition, the rising prevalence of blood cancer will drive the global blood and bone marrow cancer drug market forward.

Growing awareness about the early diagnosis and promising drug pipeline will contribute to the growth of the blood and bone marrow cancer drug market. Furthermore, the increasing number of research activities to discover new potential drug classes will benefit the blood and bone marrow cancer drug market during the study period.

Increasing healthcare expenditure and growing technological advancements will offer ample growth opportunities for the global market. On the contrary, the potential side effects of the blood and bone marrow cancer drug therapies may limit the growth of the market.

COVID-19 Impact Analysis

The COVID-19 pandemic had a significant negative impact on the global blood and bone marrow cancer drug market. Due to the pandemic, the companies working in the cancer drugs market witnessed significant challenges like shortage of raw material, workforce, import-export bans, etc. In addition, cancer patients stopped visiting healthcare centers in order to avoid the risk of virus transmission.

The global pandemic not only restricted the oncology drug supplies to patients but also limited the accessibility and administration of cancer treatments. Clinical trials were entirely halted to focus on the COVID-19 affected patients. Thus, the pandemic had a severe negative impact on the global blood and bone marrow cancer drug market during the study period.

Regional Analysis

North America is forecast to hold dominance in the global blood and bone marrow cancer drug market. It is owing to the growing prevalence of cancer and the soaring demand for novel drugs. Moreover, Asia-Pacific is forecast to register a significant growth rate due to growing healthcare expenditure and rising consumer spending on healthcare. Furthermore, the growing number of research and development activities will significantly result in the expansion of these two markets.

Competitors in the Market

Bristol Myers Squibb & Company
AstraZeneca, Plc.
Eli Lilly & Company
Johnson and Johnson Company
F. Hoffman La-Roche Ltd.
Celgene, Inc.
Merck & Co., Inc.
Novartis AG
Varian Medical Systems, Inc.
Pfizer, Inc.
Other Prominent Players
Market Segmentation

The global blood and bone marrow cancer drug market segmentation focuses on Indication, Therapy, and Region.

Based on indication, the blood and bone marrow cancer drug market has been segmented into

Multiple Myeloma
Leukemia
Lymphoma
Based on therapy, the blood and bone marrow cancer drug market has been segmented into

Chemotherapy
Immunotherapy
Stem Cell Transplant
Radiotherapy
Based on region, the blood and bone marrow cancer drug market has been segmented into

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America