Market Trends of Global Hematologic Malignancies Treatment Industry
This section covers the major market trends shaping the Hematologic Malignancies Treatment Market according to our research experts:
Chemotherapy Leads the Segment, and it is Expected to Witness a Healthy Growth Over the Forecast Period
As chemotherapy is the first line of treatment, it is the largest segment in the studied market. Generally, for most types of blood cancers, chemotherapy is the common treatment, and a particular drug or combination of drugs is used depending on the type of cancer. The large patient pool and the increasing incidence of blood cancers are the major drivers for the growth of the studied segment. Also, the growing understanding of the possibility of the disease at the early stage and its subsequent treatment are expected to drive the segment growth.
According to the American Cancer Society, Cytarabine (cytosine arabinoside or ara-C) and anthracycline drugs, such as daunorubicin (daunomycin) or idarubicin, are the most common chemo drugs used in the treatment of acute myeloid leukemia. Cladribine (2-CdA), Fludarabine, Mitoxantrone, Etoposide (VP-16), 6-thioguanine (6-TG), Hydroxyurea, Corticosteroid drugs, such as prednisone or dexamethasone, Methotrexate (MTX), 6-mercaptopurine (6-MP), Azacitidine, and Decitabine are used in chemotherapy of acute myeloid leukemia. Also, the rising product approvals are expected to aid in the growth of the studied market. For instance, in September 2020, the US FDA approved Bristol Myers Squibb's azacytidine (Onureg) 300 mg tablets, CC-486, to continue treating adult patients with acute myeloid leukemia. Similarly, in June 2019, the United States Food and Drug Administration granted approval to Polivy to be used in combination with the chemotherapy drug bendamustine and a rituximab, to treat adult patients with diffuse large B-cell lymphoma (DLBCL) that has progressed or returned after at least two prior therapies. Thus, owing to the aforementioned factors, the studied segment is expected to witness significant growth over the forecast period.
North America Dominates the Market, and it is Expected to do the Same in the Forecast Period
North America is expected to dominate the overall hematologic malignancies treatment market throughout the forecast period. The presence of key players, high prevalence of blood cancer patients, established healthcare infrastructure, and availability of branded drugs are some of the key factors accountable for the large share of the studied market in North America.
According to the Global Cancer Observatory, in 2020, nearly 67,784 cases of leukemia and an estimated 35,318 cases of multiple myeloma were reported in the North American region. According to the Leukemia and Lymphoma Society, in 2021, an estimated combined total of 397,501 people in the United States were living with or in remission from leukemia in the United States. It also stated that around 61,090 people were expected to be diagnosed with leukemia in the United States in 2021. Thus, the increasing number of blood cancer cases in the region is a major driving factor for the growth of the market.
Beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to drive market growth. For instance, in December 2020, the Leukemia and Lymphoma Society (LLS) initiated a collaboration to form alliances with leading cancer institutions and foundations to co-fund nearly USD 17 million in research grants to progress the research in finding effective treatment options for patients with leukemia, lymphoma, myeloma, and other blood cancers. In December 2020, Jazz Pharmaceuticals submitted the Biologics License Application (BLA) for its JZP-458 for use as a component of a multiagent chemotherapy regimen in the treatment of patients with acute lymphoblastic leukemia (ALL) or lymphoblastic lymphoma (LBL).
Many companies are undertaking a variety of strategic initiatives like product launches, partnerships, collaborations, mergers, and acquisitions to boost their market share. For instance, in October 2020, AstraZeneca Pharma India announced the launch of Acalabrutinib 100 mg capsules, which are used for the treatment of various types of leukemias (leukemia (CLL) and small lymphocytic lymphoma) under the brand name Calquence. In May 2019, the United States Food and Drug Administration approved AbbVie Inc. and Genentech Inc., jointly developing venetoclax for adult patients with chronic lymphocytic leukemia or small lymphocytic lymphoma. Thus, due to the above-mentioned developments, the market is expected to see robust growth.
