Report ID: 10070622 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Hematologic Malignancies Therapeutics Market Highlights Over 2022 - 2031
The global hematologic malignancies therapeutics market garnered significant revenue in the year 2021 and is expected to grow at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. The growth of the market can majorly be attributed to the increasing number of patients with leukemia, multiple myeloma, and other blood cancers, as well as rising need for early detection and treatment of hematologic cancers. Moreover, the rising focus of healthcare providers on improving therapeutic care for blood cancer patients is expected to drive market growth. As sourced from the Leukemia & Lymphoma Society, an approximate total of 186,400 people were expected to be diagnosed with leukemia, lymphoma, or myeloma in 2021, in the United States.
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Hematologic malignancies, also called blood cancer, begin in blood-forming tissue, such as the bone marrow, or in the cells of the immune system. Hematological cancer is the fifth-most prevalent type of cancer in the world and the second-most leading cause of death. The high prevalence of lymphoma and other malignancies is associated with increasing geriatric population across the globe. In the other statistics by the Leukemia & Lymphoma Society, one person is diagnosed with leukemia, lymphoma, or myeloma in approximately every 3 minutes in the US.
The global hematologic malignancies therapeutics market is segmented by disease condition, therapy, and end-users. The therapy segment is divided on the basis of chemotherapy, immunotherapy, targeted therapy, and others. Among these segments, the chemotherapy segment is estimated to grow with the highest CAGR during the forecast period. The growth can be attributed to the growing number of cancer patients and the increasing incidence of blood cancer. For most types of cancers, chemotherapy is used as the common treatment, with a particular drug or combination of drugs depending on the type of cancer.
Global Hematologic Malignancies Therapeutics Market Regional Synopsis
Regionally, the global hematologic malignancies therapeutics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region witnessed a modest growth in the year 2021. The growth is majorly associated with the availability of branded drugs, increasing cancer patient population, and established healthcare organizations in the region. As sourced from National Cancer Institute (NCI), an estimate of 459,058 people were diagnosed with leukemia in the year 2018, in the United States. On the other hand, the market in the Asia Pacific region is expected to grow with a notable CAGR during the forecast period. The growth can be attributed to increasing awareness about early diagnosis of blood-related cancer, availability of effective treatment for a growing number of chronic diseases, growing healthcare expenditure, and increasing government support such as insurance, checkup camps, and others in the Asia Pacific region.
Market Segmentation
Our in-depth analysis of the global hematologic malignancies therapeutics market includes the following segments:
By Disease Condition
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Leukemia
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Lymphoma
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Myeloma
By Therapy
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Chemotherapy
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Immunotherapy
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Targeted Therapy
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Others
By End Users
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Hospitals
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Medical Stores
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Online Pharmacies
Growth Drivers and Challenges Impacting the Growth of the Global Hematologic Malignancies Therapeutics Market
Growth Drivers
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Growing incidence of blood cancer
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Development of new treatments for chronic diseases
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Awareness about early diagnosis of blood cancer
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Spreading cases of leukemia
Challenges
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Side effects of drugs
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High cost of medication and treatment
Key Companies Dominating the Global Hematologic Malignancies Therapeutics Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global hematologic malignancies therapeutics market that are included in our report are F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Novartis AG, AbbVie Inc, Pfizer Inc., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Sanofi, Takeda Pharmaceutical Company Limited, Bio-Rad Laboratories, Inc., and others.
Latest Developments in the Global Hematologic Malignancies Therapeutics Market:
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10 January 2022: Bristol Myers Squibb and Century Therapeutics announced a cooperation on research collaboration and license agreement. The agreement is for the development of iPSC-derived Allogeneic Cell Therapies. This therapy will be used in the treatment of cancer.
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21 July 2021: AbbVie announced that the US Food and Drug Administration (FDA) granted venetoclax (VENCLEXTA) a Breakthrough Therapy Designation (BTD) status for the potential treatment of adult patients with untreated diseases.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the client's requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by disease condition, therapy, end-users, and by region.
The chemotherapy segment is anticipated to hold largest market size in value and is estimated grow with highest CAGR over the forecast period and display significant growth opportunities.
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Report ID: 10070622 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
