Hematologic Cancer Market - Trends Forecast Till 2028

Market Overview

The global hematologic cancer market is anticipated to reach USD 51.6 billion by 2020 growing at a CAGR of 9.6% during the forecasting period, 2020-2028.

When it comes to hematologic tumours, leukaemia is probably the most well-known. While leukaemia is commonly linked with childhood malignancies, it actually affects a higher percentage of older individuals than children. There are several subtypes of leukaemia. Hematological malignancies affects lymph nodes, blood, and bone marrow, and include numerous forms such as different types of leukemia, myeloma, and lymphoma. Hematological malignancies are malignant neoplasms and are treated by hematologists and oncologists. Hematological malignancies may derive from two major blood cell lineages, namely myeloid and lymphoid cell lines. Lymphomas, leukemia, and myeloma are from the lymphoid line while myelodysplastic syndromes, acute and chronic myelogenous leukemia, and myeloprofilerative diseases are from the myeloid lineage.

Also Check Report on Oncology Market

On hematologic cancer market report analysis, it is found that governments in developing nations are increasing healthcare spending and strengthening healthcare infrastructure. This is anticipated to minimise patients' out-of-pocket expenses. Such as Saudi Arabia government is using Blood Cancer Awareness Month in September to raise awareness about leukemia, lymphoma, myeloma and Hodgkin’s disease, support patients affected by blood cancer and raise funds for research. This is one of the main reasons driving the hematologic cancer market.

Federal government financing for oncology research has resulted in significant advancements in cancer detection, prevention, diagnosis, therapy, and patient quality of life. More cancer patients are being effectively treated as a result of advancements in cancer research.

Increasing expenditure in cancer research is likely to drive market growth throughout the forecast period. Increased development in preclinical and clinical research, as well as quick advancements in therapies, are likely to boost hematologic cancer market growth, as is the availability of a solid product pipeline. Cellular immune treatments, such as chimeric antigen receptor (CAR) T-cell therapy, have considerably increased response rates for a variety of haematological malignancies in recent years.

Key Findings

The global hematologic cancer market is segmented into treatment, therapy, type, stage, diagnosis, methods, distribution channel, end-users, and geography.

Treatment segment is segmented into Stem Cell Transplantation, Surgery and Radiation, Thrombosis Treatment, Anemia Treatment, Neutropenia Treatment, and Others

The therapy segment is segmented into Chemotherapy, Immunotherapy, Targeted Therapy, and T-Cell Therapy

The type segment is segmented into Leukaemia, Lymphoma, Multiple Myeloma (MM). Leukaemia is further segmented into acute and chronic. Acute is further segmented into Acute Myeloid Leukemia (AML), Acute Lymphocytic Leukaemia (ALL). Chronic is further segmented into Chronic Myeloid Leukaemia (CML), Chronic Lymphocytic Leukaemia (CLL). Lymphoma is further segmented into Hodgkin, Non-Hodgkin, Malignant Lymphoma, Pediatric Lymphoma. Multiple Myeloma is further segmented into Hyperdiploid (HMM), Non-Hyperdiploid and Others.

Stage segment is segmented into Stage I, Stage II, Stage III, and Stage IV

Diagnosis segment is segmented into Bone Marrow Aspiration and Bone Marrow Biopsy

Methods segment is segmented into Bispecific, Antibody Drug Conjugates (ADCS), Monoclonal Antibodies and Others

Distribution Channel segment is segmented into Medical Stores, Hospital Pharmacies and E-Commerce Platform

The end-User segment is segmented into Hospitals, Oncology Centers, Specialty Clinics, Clinical Laboratories, Laboratory Research and Clinical Trials and Others

Geographically, the global hematologic cancer market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Regional Analysis

Because of the increasing number of research and development activities, North America dominates the hematologic cancer market, and rising healthcare spending will further fuel the market's growth rate in this region. Furthermore, the rising frequency of blood cancer and the ageing population would have an impact on the market's growth rate in this area.

The Asia-Pacific region is predicted to rise over the forecast period due to an increase in the number of generic manufacturers and increased penetration of innovative cancer medicines in this area. Furthermore, the expansion of healthcare infrastructure and rising disposable income will drive the market's growth rate in this area even faster.

North America region is the largest contributor to the hematologic cancer market in the forecast period 2020-2028 and the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period 2020-2028.

Competitive Landscape

Key players in the global hematologic cancer market are Novartis International AG, Celgene Corporation, AbbVie, Inc., Bristol-Myers Squibb Company, GlaxoSmithKline plc, Otsuka Pharmaceutical Co., Ltd., and Teva Pharmaceutical Industries Ltd. among others

Recent Developments

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

• In 2016, Novartis has announced to acquire Selexys Pharmaceuticals Corporation and SelG1 antibody for reduction of pain crises in sickle cell disease (SCD).
• In 2015, Pfizer has announced that inotuzumab has received a breakthrough therapy designation from U.S. FDA for acute lymphoblastic leukemia

Hence, tremendous progress has been made over the last decade, and yet a lot more to come in recent years.

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