New York,
NY 13 Jan 2020 : The Global Hematologic
Malignancies Therapeutics Market Size is anticipated to reach
over USD 87.0 Billion by 2025 according to a new research published by Polaris
Market Research.
Hematological malignancy is a type
of cancer that affect the bone marrow, blood, and lymph nodes. They include
several forms of myeloma, leukemia, and lymphoma. According to an industry
report in 2011, Hematological malignancies constituted 9% of all newly
diagnosed malignancies in the U.S. specifying that lymphomas are more prevalent
than myeloma or leukemias. Excluding Hodgkin’s lymphoma as well as acute
lymphocytic leukemia, these types of malignancy are usually related to growing
age. Hence, considering the aging worldwide population, malignancy type is more
probable to become more prevalent.
The global Hematologic Malignancies
Therapeutics Market growth is majorly driven by the increasing focus on
development for novel treatments and growing occurrence of blood cancer.
Currently, blood malignancies are the second most leading cause of cancer
deaths and the 5th most
common cancer. The three most common types of blood cancers are multiple
myeloma leukemia, and lymphoma. Each year, approximately 400,000 people are
diagnosed with lymphoma and more than 300,000 people are diagnosed with
leukemia globally. In addition, inventions of novel drugs for blood cancer and
its regulatory approvals are anticipated to bolster the market growth. For
instance, in 2015, Pfizer announced that its antibody-drug conjugate-
inotuzumab has received USFDA approval for acute lymphoblastic leukemia.
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The Global Hematologic Malignancies
Therapeutics Market is segmented on the basis of type, therapy, and geography.
Based on type, the market is segmented into leukemia, lymphoma, multiple
myeloma, and others. The leukemia is further segmented into acute lymphocytic
leukemia, chronic lymphocytic leukemia, acute myeloid leukemia, and chronic
myeloid leukemia. On the basis of type, leukemia was estimated to dominate the
market. The major market share is due to availability of products such as
Imbruvica, Rituxan, and Glivec, which are estimated to be the highest revenue
generating drugs. On the basis of therapy, the global Hematologic Malignancies
Therapeutics Market is segmented into Chemotherapy, Radiotherapy,
Immunotherapy, Stem Cell Transplantation, and Others. Amongst all the
therapies, chemotherapy is the most commonly used treatment with a particular
drug or combination of drugs used.
On the
basis of region, the global Hematologic Malignancies Therapeutics Market is segmented
into North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa. North America was estimated to dominate the global market. The
dominance is majorly attributed to the high presence of key market players,
availability of branded drugs, established healthcare organization, and
increasing government support in the region. However, Asia Pacific is expected
to dominate the global market during the forecast period. Increasing awareness
about early diagnosis, availability of effective treatment in emerging
countries, such as India and China, growing healthcare expenditure, and high
unmet clinical needs of patients, are some of the factors anticipated to
significantly boost the market in the Asia Pacific.
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Some major key players in global
Hematologic Malignancies Therapeutics Market includes 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 among others.
The object of the key market players is to deliver better chronic care
administration while keeping the cost low. In addition, the companies are
concentrating on producing easy-to-use monitoring devices that can aid patients
to accomplish conditions including diabetes or heart diseases better by
avoiding costly medical processes.
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