Hematologic Cancer, which is also known as blood cancer, typically originates in the bone marrow, where blood cells are produced. These cancers arise when abnormal blood cells proliferate uncontrollably, hampering the production and function of healthy blood cells that help fight infection and produce new blood cells. Hematologic cancer is a type of cancer that begins in Hematologic-forming cells like bone marrow or immune system cells. Examples of Hematologic cancers include leukemia, lymphoma, and multiple myeloma, which are also known as hematologic cancers. Drugs like bosulif, busulfan, bosutinib, and busulfex are utilized to treat Hematologic cancer.
As a result of the COVID-19 pandemic, many non-urgent medical procedures were postponed, including treatments for hematologic cancer. However, in the case of severe diseases like acute leukemia, it is not advisable to delay treatment, and thus, guidelines have been established to ensure that these treatments can continue safely during the pandemic. A study published in Acta Haematologica in 2020 suggests that using less intensive therapies, minimizing contact between patients and staff, reducing the number of in-person visits, and utilizing telemedicine for follow-up consultations can all contribute to the successful treatment of patients with hematologic cancer.
Hematologic cancers, which are also known as blood cancers, typically originate in the bone marrow, where blood cells are produced. These cancers arise when abnormal blood cells proliferate uncontrollably, hampering the production and function of healthy blood cells that help fight infection and produce new blood cells. The market for hematologic Cancer has a range of commercially available chemotherapeutic drugs such as Oncotrex, Cytarine, Neosar, Gleevec, and Leukeran, among others. These medications are designed to target and destroy cancer cells, providing much-needed relief to blood cancer patients. This high incidence of leukemia worldwide is expected to fuel market growth in the years to come. As research and development efforts continue to progress and new therapies are developed, the hematologic Cancer market will likely see continued expansion. Moreover, as healthcare systems around the world continue to improve and expand access to these life-saving treatments, more and more patients will be able to receive the care they need. All of these factors point towards a bright future for the hematologic cancer market, one that promises to deliver new and innovative therapies to patients in need.
The Hematologic Cancer Market Growth at a CAGR of 10.5% & is expected USD 153 billion by 2030.
Beneficial government policies and a rise in research collaborations are some of the factors that are anticipated to drive the growth of the market. As an example, the Leukemia and Lymphoma Society (LLS) initiated a partnership in December 2020 with major cancer institutions and foundations to co-fund nearly USD 17 million in research grants to advance the study of effective treatment options for patients with leukemia, lymphoma, myeloma, and other blood cancers. In December 2020, Jazz Pharmaceuticals filed the Biologics License Application (BLA) for its JZP-458, which will be used as a component of a multi-agent chemotherapy regimen for patients with acute lymphoblastic leukemia (ALL) or lymphoblastic lymphoma (LBL), indicating the continuing efforts to combat blood cancer. Bristol-Myers Squibb's research estimates that there will be almost 1.85 million new cases of Hematologic cancer worldwide by 2040. These cases will be composed of 918,872 lymphoma, 656,345 leukemia, and 275,047 myelomas. Furthermore, their study anticipates that by 2040, there will be approximately 1,100,000 fatalities from Hematologic cancer globally.
Throughout the projected timeline, it is expected that the overall hematologic Cancer market will be dominated by North America. This is due to the presence of major industry players, a high incidence of blood cancer patients, a well-established healthcare infrastructure, and access to branded medications, among other factors. As such, North America holds a substantial share of the market under scrutiny. There are two main drivers behind the growth of the hematologic Cancer market: the increasing prevalence of Hematologic cancer and a growing focus on the development of new treatments. According to data from Globocan 2020, Asia had the highest number of leukemia cases in 2020, with 230,650 diagnoses, followed by Europe with 100,020 and North America with 67,784.
The blood cancer market is experiencing growth, driven by an increase in research and development activities. This trend presents valuable opportunities for market expansion. Furthermore, the market is expected to grow at a faster pace with the increase in drug approvals and launches. The emergence of monoclonal antibodies (such as Empliciti and Darzalex) represents a significant opportunity for the market to expand. They provide a new therapeutic option for blood cancer patients, while also prolonging the time between relapses and the duration of Revlimid and Velcade therapies. Additionally, the availability of Ninlaro and Kyprolis, two second-generation proteasome inhibitors, further expands the therapy options for these patients. These developments will have a significant impact on the industry and market, which is currently dominated by Revlimid, an immunomodulator, and Velcade, a proteasome inhibitor.