September is Blood Cancer Awareness Month, a time to drive awareness and understanding of blood cancers while raising crucial funds to support life-saving research. An estimated 1.24 million people discover they have blood cancer every year. While some types of cancer are readily preventable, blood cancers are not among them. Specifically, Leukemia makes up approximately one-third of all new blood cancer cases in the U.S. and Europe. It is also the most common cancer in children and teens, accounting for almost one out of three cancers.
Fortunately, blood cancer awareness and breakthrough treatments are on the rise, bringing hope to patients and their families worldwide. According to Technavio’s latest marketing research report on the global blood cancer therapeutics market for 2019-2023, the market is poised to grow by 12.63 billion USD, progressing at a compound annual growth rate of over 8% during the forecast period.
The growing adoption of therapeutics is one of the critical reasons driving the market growth. However, many supplemental activities also have a significant contribution. Blood cancer treatment is often delayed due to the lack of awareness about the disease and its symptoms. This is compelling advocates to initiate awareness campaigns about various types of blood cancer to prevent the delayed diagnosis and treatment of the disease. Patients are also opting for preventative tests and seeking treatment during the early stages of the disease, and patient assistance programs are providing treatment at an affordable cost, increasing patient adherence. Increased awareness about various types of blood cancers by multiple vendors and organizations at a global level will ultimately be one of the primary drivers of the global blood cancer therapeutics market.
With the growing urgency to treat blood cancers, the advent of novel therapies will also propel the adoption of blood cancer therapeutics. The substantial prevalence of the disease has led to the development of advanced treatments, including gene therapies, PD-1 inhibitors, and CAR T-cell therapies. Continued advances in research and novel therapies will fuel the approval of treatments for cancer indications, also contributing to driving the market growth. The North American region is reported to account for the highest blood cancer therapeutics market share due to factors including the increased sales of approved therapeutics for various types of blood cancer and their growing incidence rate.
TFS is proud to advocate for Blood Cancer Awareness Month and contribute to the growing global blood cancer therapeutics market. With a North American presence and ongoing hematology and oncology study support, TFS is accelerating market approvals for customers with the strategy and experts to support clinical trials from design to completion.
Join TFS in raising awareness of blood cancer during Blood Cancer Awareness Month by spreading the word on social media. Click here to download our graphic to use for your posts. Learn more about our expertise or contact us today to engage our hematology and oncology CRO services.
- Leukemia & Lymphoma Society
- Business Wire
- World Cancer Research Fund International
- Blood Cancer UK
- Bristol Myers Squibb