Rising global prevalence of blood cancer, growing awareness about benefits of early diagnosis, and development of strong pipeline therapeutics are key factors driving market revenue growth
Market Size – USD 53.46 Billion in 2020, Market Growth – at a CAGR of 10.7%, Market Trends – Increasing focus on development of new therapeutics
The Global Hematologic Malignancies Market size is expected to reach USD 120.56 Billion by 2028 at a CAGR of 10.7%, according to the latest report by Reports and Data. Rising prevalence of blood cancer, presence of strong pipeline therapeutics, and increasing expenditure in healthcare sector are key factors expected to drive market revenue growth over the forecast period. In addition, rapidly increasing geriatric population, rising awareness about early diagnosis and treatment, growing focus on developing advanced therapeutics, and increasing product approvals are expected to support market growth going ahead.
Hematologic malignancies are cancers that affect bone narrow, blood, and lymph nodes, and include different types of leukemia, myeloma, and lymphoma. Hematological malignancies account for nearly 9% of total newly diagnosed cancers in the United States. Blood cancer generally occur when there is rapid and uncontrollable growth of abnormal cells which interfere with development and functioning of normal cells. Hematologic malignancies are subdivided according to the type of blood cells that are affected. Lymphoblastic or lymphocytic malignancies occur in the lymphoid lineage, while myelogenous or myeloid malignancies occur in myeloid lineages. Treatment of hematologic malignancies is largely based on treating and alleviating symptoms. Aggressive hematologic malignancies require treatment with chemotherapy, immunotherapy, radiotherapy, and bone marrow transplant. increasing number of patients requiring chemotherapy and bone marrow transplant has increased over the recent past and this is expected to drive demand for these therapeutic approaches going ahead.
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Over the last decade, numerous preclinical and clinical researches have generated encouraging results for treatment of hematological malignancies. Improved long-term outcomes for patients suffering from hematologic malignancies owing to rapid progress in therapeutics and drugs has contributed significantly to revenue growth of the market. Increasing funding and investment to accelerate cancer research is also expected to drive market growth. However, high costs of treatment and lack of skilled professionals is expected to restrain market growth to a certain extent over the forecast period.
Some Key Highlights From the Report:
- Leukemia segment is expected to register robust revenue growth over the forecast period owing to increasing prevalence of leukemia across the globe, availability of advanced oncology drugs and therapeutics, and increasing collaborations in the market to boost development of advanced therapeutics for leukemia.
- Chemotherapy segment is expected to account for largest revenue share during the forecast period, attributable to increasing application of chemotherapy in treatment of blood cancer. Chemotherapy is generally the first line of treatment for blood cancer and often uses a combination of drugs depending on the type of cancer.
- North America is expected to account for largest revenue share between 2021 and 2028, attributable to rising prevalence of hematologic malignancies, establishment of robust healthcare facilities, availability of advanced cancer therapeutics, and robust presence of key market players in the region.
- Key players include Pfizer, Inc., F. Hoffmann-LA Roche ltd., Sanofi-Aventis, Bristol-Myers Squibb Company, AbbVie, Inc., Novartis AG, GlaxoSmithKline PLC, Celgene Corporation, Johnson & Johnson Services, Inc., and Takeda Pharmaceutical Company Limited.
- In April 2021, Arch Oncology, Inc., which is a clinical-stage oncology firm engaged in discovery and development of anti-CD47 therapeutics, closed a Series C round of financing at USD 105 Million. The funding will be used to accelerate clinical progress of differentiated anti-CD47 candidate for treating patients with solid tumors and hematologic malignancies.
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For the purpose of this report, Reports and Data has segmented the hematologic malignancies market based on type, therapy, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Leukemia
- Acute Lymphocytic Leukemia
- Chronic Lymphocytic Leukemia
- Acute Myeloid Leukemia
- Chronic Myeloid Leukemia
- Lymphoma
- Multiple Myeloma
- Others
Therapy Outlook (Revenue, USD Billion; 2018-2028)
- Chemotherapy
- Radiotherapy
- Immunotherapy
- Stem Cell Transplantation
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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- Table of Contents
- Chapter 1. Global Hematologic Malignancies Market Definition and Scope
- Chapter 2. Research Methodology
- Chapter 3. Executive Summary
- Chapter 4. Global Hematologic Malignancies Market Dynamics
- Chapter 5. Global Hematologic Malignancies Market Competitive Landscape
- Chapter 6. Global Hematologic Malignancies Market by Product Types
- Chapter 7. Global Hematologic Malignancies Market by Applications
- Chapter 8. Global Hematologic Malignancies Market by End-user industries
- Chapter 9. Global Hematologic Malignancies Market Regional Analysis
- Chapter 10. Appendix
The Hematologic Malignancies Market Report discusses the changing economic scenario, highlighting market value and volume, drivers, constraints, opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. The report also utilizes analytical and econometric tools to assess key information.
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Table of Content:
Chapter 1 Research Methodology & Scope
1.1 Information Procurement
1.1.1 Purchased database:
1.1.2 Internal database
1.2 Research Methodology
1.3 Geographic scope & assumptions
1.4 Region-wise market calculation
1.4.1 Region-wise market: Base estimates
1.4.2 Global market: CAGR calculation
1.5 Region-based segment share calculation
1.6 List of Secondary Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
Chapter 3 Hematologic Malignancies Market Variables, Trends & Scope
3.1 Market segmentation& scope
3.2 Market Driver Analysis
3.2.1 Growing Incidence of blood cancer
3.2.2 Increasing investment for cancer research
3.2.3 Strong product pipeline
3.2.4 Increasing Acquisition and Collaboration
3.3 Market restraint analysis
3.3.1 Reimbursement Policies
3.3.2 Large Capital Investment
3.4 Penetration & growth prospect mapping
3.5 Hematologic malignancies - SWOT Analysis, By Factor (political & legal, economic and technological)
3.6 Industry Analysis - Porter’s
Chapter 4 Hematologic Malignancies Market: Type Outlook
Continued…..
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