Market Size of Global Hematologic Malignancies Treatment Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 67.23 Billion |
Market Size (2029) | USD 97.73 Billion |
CAGR (2024 - 2029) | 7.77 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Hematologic Malignancies Treatment Market Analysis
The Global Hematologic Malignancies Treatment Market size is estimated at USD 67.23 billion in 2024, and is expected to reach USD 97.73 billion by 2029, growing at a CAGR of 7.77% during the forecast period (2024-2029).
As most elective treatments were deferred due to the outbreak of the COVID-19 pandemic, the hematologic malignancies treatment market was also impacted significantly. However, delayed treatment is not recommended for severe diseases, especially acute leukemia, and thus, necessary guidelines and measures have been put forth recently to allow hematologic malignancies' treatments during the pandemic with all protective measures. According to the research article published in Acta Haematologica, 2020, employing less intensive therapy options, minimizing the exposure between patient and staff, reducing the number of clinical visits, and encouraging telemedicine for follow-up consultations can aid in the effective outcome of treatment of patients with hematologic malignancies. As per the research study carried out by the United Kingdom Coronavirus Cancer Monitoring Project (UKCCMP), 2020, the risk of experiencing severe cases of COVID-19 infection was found to be higher, at about 57%, among patients with blood cancers. Thus, given the aforementioned factors, the COVID-19 pandemic is expected to impact the growth of the studied market.
The major factors attributing to the growth of the hematologic malignancies treatment market are the growing incidence of blood cancer and an increasing emphasis on the development of new treatments, driving the hematologic malignancies treatment market. According to Globocan 2020, the estimated incidence of leukemia was the highest in Asia, with 230,650 cases diagnosed in 2020, followed by 100,020 cases in Europe and 67,784 cases in North America. Thus, the high incidence of leukemia worldwide is expected to drive market growth.
Initiatives by major players such as mergers, acquisitions, product launches, partnerships, and collaborations are expected to boost the market growth. For instance, in May 2021, Tokyo-based Chugai Pharmaceutical Co. Ltd announced the launch of an anticancer agent/antimicrotubule binding anti-CD79b monoclonal antibody called Polivy intravenous infusion 30 mg and 140 mg that can be used for the treatment of relapsed or refractory (R/R) diffuse large B-cell lymphoma (DLBCL).
In February 2021, the United States Food and Drug Administration approved Breyanzi (lisocabtagene maraleucel), a cell-based gene therapy to treat adult patients with certain types of large B-cell lymphoma who have not responded to at least two other types of systemic treatment. Such rising product launches will likely provide growth opportunities to the market studied. However, the high cost of the medication involved in the treatment is the major restraint to the market.
Hematologic Malignancies Treatment Industry Segmentation
According to the scope of the report, hematologic malignancies are forms of cancer that start in the cells of blood-producing tissue, such as the bone marrow, or in the cells of the immune system. The hematologic malignancies treatment market is segmented by disease condition (leukemia, lymphoma, and myeloma), therapy (chemotherapy, immunotherapy, targeted therapy, and other therapies), end user (hospital pharmacies, medical stores, and e-commerce platforms), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD million) for all the above segments.
By Disease Condition | |
Leukemia | |
Lymphoma | |
Myeloma |
By Therapy | |
Chemotherapy | |
Immunotherapy | |
Targeted Therapy | |
Other Therapies |
By End User | |
Hospital Pharmacies | |
Medical Stores | |
E-commerce Platforms |
Geography | ||||||||
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Global Hematologic Malignancies Treatment Market Size Summary
The hematologic malignancies treatment market is poised for significant growth over the forecast period, driven by the increasing incidence of blood cancers and a heightened focus on developing innovative treatments. The market experienced disruptions due to the COVID-19 pandemic, which necessitated the deferral of many elective treatments. However, guidelines were established to ensure that critical treatments, such as those for acute leukemia, could continue with appropriate safety measures. The pandemic highlighted the vulnerability of blood cancer patients, who faced a higher risk of severe COVID-19 infections, thereby influencing the market dynamics. The introduction of less intensive therapy options and the use of telemedicine for follow-ups were among the strategies employed to mitigate the impact of the pandemic on treatment outcomes.
North America is expected to maintain its dominance in the hematologic malignancies treatment market, supported by a robust healthcare infrastructure, a high prevalence of blood cancer, and the availability of advanced treatment options. The region's market growth is further bolstered by strategic initiatives from key players, including product launches, partnerships, and regulatory approvals. These efforts are aimed at expanding market share and enhancing treatment offerings. Despite the high cost of medications posing a challenge, the market is expected to benefit from ongoing research collaborations and government support, which are crucial in advancing treatment options for blood cancers. The market's moderately consolidated nature, with major players like Pfizer Inc., Roche Ltd, and Bristol-Myers Squibb Company, underscores the competitive landscape, where companies are actively pursuing growth opportunities through strategic mergers and acquisitions.
Global Hematologic Malignancies Treatment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Incidence of Blood Cancer
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1.2.2 Increasing Awareness about the Possibility of Early Diagnosis
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1.2.3 Increasing Emphasis on Development of New Treatments
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1.3 Market Restraints
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1.3.1 High Cost of Medication
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Disease Condition
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2.1.1 Leukemia
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2.1.2 Lymphoma
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2.1.3 Myeloma
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2.2 By Therapy
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2.2.1 Chemotherapy
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2.2.2 Immunotherapy
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2.2.3 Targeted Therapy
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2.2.4 Other Therapies
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2.3 By End User
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2.3.1 Hospital Pharmacies
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2.3.2 Medical Stores
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2.3.3 E-commerce Platforms
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Hematologic Malignancies Treatment Market Size FAQs
How big is the Global Hematologic Malignancies Treatment Market?
The Global Hematologic Malignancies Treatment Market size is expected to reach USD 67.23 billion in 2024 and grow at a CAGR of 7.77% to reach USD 97.73 billion by 2029.
What is the current Global Hematologic Malignancies Treatment Market size?
In 2024, the Global Hematologic Malignancies Treatment Market size is expected to reach USD 67.23 billion.