Hematologic Malignancies Treatment Market size was estimated at $99.55 Billion, projected to grow at a CAGR of 9.73% - Brandessence Market Research

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Nov 10, 2022, 06:00 ET

LONDON, Nov. 10, 2022 /PRNewswire/ -- According to the latest market research, The Global Hematologic Malignancies Treatment Market is valued at US$ 51.97 Billion in 2021, and it is expected to reach US$ 99.55 Billion by 2028, with a CAGR of 9.73% during the forecast period of 2022-2028.

Hematologic malignancy is referred to as a type of cancer which is formed in blood-producing tissues like the bone marrow. It predominantly infects the blood, bone marrow, along with lymph nodes, thereby affecting the entire immune system of the patient. These cancer forms generally occur due to the unregulated growth of abnormal blood cells which in turn prevents the development of regular blood cells and hinders their functions. Hematologic malignancies are bifurcated into three primary categories, namely myeloma, leukemia, and lymphoma.

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Global Hematologic Malignancies Treatment Market Insights (2022-2028)

The widespread development in the field of medical science has led to the advent of various effect treatment procedures aimed at curing hematologic malignancies. Chemotherapy, bone marrow transplantation, immunotherapy, along with CAR T cell therapy, just to name a few are some of the most frequently recommended procedures to treat this type of disorders.

Growing prevalence of cancer worldwide, rising healthcare expenditure, and rising R&D activities in the field are primarily augmenting the outlook of this business vertical.

Also, surging health cognizance of the masses, increase in the geriatric population base, along with rising disposable income of the individuals are adding momentum to the expansion of this marketplace.

Furthermore, increasing number of oncologists across the globe, growing efforts by key players to develop advanced treatment therapeutics in the field, along with escalating demand for early diagnosis of cancer are creating lucrative opportunities for this industry vertical to prosper.

Besides, rising instances of new drug approvals along with growing government initiatives to spread cancer awareness among the masses are aiding market expansion.

On the contrary, high cost pertaining to blood cancer treatment therapeutics is hindering the remuneration scope for global hematologic malignancies treatment market.

Competitive Hierarchy

The prominent players characterizing the competitive terrain of this industry vertical are AbbVie Inc., GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc., Johnson & Johnson Services, Inc., Bio-Rad Laboratories, Inc., Sanofi, Takeda Pharmaceutical Company Limited, and others.

These companies are extending their global footprint by formulating organic and inorganic business growth strategies. They are focused towards enhancing their remuneration scope by engaging in product launches, mergers & acquisitions, R&D investments, and collaborations, among others.

Hematologic Malignancies Treatment Market: Segmentation Analysis

By Condition:

  • Lymphoma
  • Leukemia
  • Myeloma

By Therapy:

  • Immunotherapy
  • Chemotherapy
  • Targeted Therapy
  • Others

By End-User:

  • Medical Stores
  • Hospital Pharmacies
  • E-Commerce Platform

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Region-wise Outlook

Which is the fastest growing region in this business vertical?

North America has been witnessing a prompt development over the stipulated timeline. This is attributable to the growing pervasiveness of blood cancer, increasing healthcare expenditure, and rising R&D investments in the field.

Also, rapidly evolving healthcare expenditure, presence of noteworthy players, surging number of clinical trials, along with increasing geriatric population base.

What is Asia Pacific's position in the global hematologic malignancies treatment market?

Asia Pacific is reckoned to garner significant returns over the forecast period owing to the increasing government efforts to raise cancer awareness, escalating demand for early disease diagnosis, adoption of unhealthy lifestyle habits by the masses, along with growing R&D activities in the field.

Category-wise Insights

Which condition segment presently leads the industry?

The leukemia segment is amassing notable gains over the assessment timeline due to the growing pervasiveness of this condition in children under 15 and in older people over 55 years of age. It is regarded as one of the fastest spread cancer which begins in the bone marrow.

Which therapy segment holds the most dominant position in the market?

The chemotherapy segment presently dominates the industry in terms of volume share. This is credited to the increasing incidence of blood cancer worldwide and the efficacy of this treatment procedure in treating different forms of cancer.

Which end user segment is witnessing robust growth in the business vertical?

The hospital segment has been generating a significant revenue share owing to the presence of adequate treatment infrastructure and skilled professions in hospitals. Moreover, surge in healthcare expenditure along with increasing patient pool is further contributing to the segmental development.

Market growth comparison pertaining to the historical years and forecast timeline of 2022-2028

The marketplace has been registering notable gains over the stipulated timeline owing to the emergence of various growth inducing factors.

There has been a growing prevalence of hematologic malignancies around the globe. This is powered by the rising geriatric population base along with unhealthy lifestyle of the masses, among others. Therefore, the need for efficient therapeutics in the field has surged over the forecast duration.

The increasing awareness pertaining to the early diagnosis of cancer so as to facilitate early treatment and reduce mortality rate are stimulating the overall dynamics of this business vertical.

The field of medical science is witnessing widespread advancements in the field of immunochemistry. This is enabling healthcare professionals to accurately identify hematologic malignancies by unveiling tissue samples to various antibodies that are directed against antigens and molecules.

Governments across the globe have increased their efforts to improve healthcare facilities in the respective nations. This will further accelerate cancer based research activities and facilitate the development of new and effective therapeutics in the field. This in turn is anticipated to propel the growth of global hematologic malignancies treatment market.

On Special Requirement Hematologic Malignancies Treatment Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  •  Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Major Developments

  •  In October 2022, AstraZeneca Pharma India announced the launch of its Acalabrutinib 100 mg capsules. This drug is being used during the treatment of various blood cancer forms and is said to be quite effective.

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