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Increasing prevalence of hematologic malignancies and availability of advanced therapeutics to drive market revenue growth

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Increasing prevalence of hematologic malignancies and availability of advanced therapeutics to drive market revenue growth

August 17
00:03 2021
Increasing prevalence of hematologic malignancies and availability of advanced therapeutics to drive market revenue growth
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

Hematologic malignancies are rare malignant tumors chiefly affecting the hematopoietic, bone marrow, and lymphoid tissue and include several types of leukemia such as lymphoma, myeloma, and acute lymphocytic leukemia, among others. Hematologic malignancies have been at the forefront in use of genetic analysis for diagnosis, classification, prognosis, and making decisions to select appropriate therapeutic approach as compared to other type of cancers.

Increasing prevalence of blood cancer and rapid development of novel therapeutics have significantly contributed to the revenue growth of the hematologic malignancies market. Hematologic malignancies account for 6.5% of all cancers and nearly 9% of newly diagnosed cancers across the United States. Advancements in chemotherapy and radiotherapy, progress in oncology research, increasing identification of specific therapeutic targets, and growing investments to develop molecular-based therapeutics have revolutionized the treatment approach for hematologic malignancies and is expected to create lucrative growth opportunities for the hematologic malignancies market over the forecast period.

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.

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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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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About Reports and Data

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