Global Hematologic Malignancies Market is predicted to reach USD 85.8 billion by 2025 depending on the growing prevalence of hematologic malignancies across the globe. Hematologic malignancies are also known as blood cancers that are found in bone marrow, blood and lymph nodes. Hematologic malignancies are the fifth most commonly globally occurring cancer and is a major reason behind cancerous death in United States. This cancer is projected to increase widely which also increases the need for its treatment. This will ultimately influence the hematologic malignancies industry in forecast period.
Hematologic malignancies initiates in the bone marrow and consequently affects the production of blood and overall functionality. The stem cells present in the bone marrow support the development of RBC (red blood cells), WBC (white blood cells) and platelets. In cases of hematological malignancies, abnormal blood cells multiply abruptly resulting in various infections such as lymphoma, leukemia and myeloma.
The classification of hematologic malignancies comprise leukemia (acute lymphocytic [ALL], acute myeloid [AML], chronic myeloid [CML], chronic lymphocytic [CLL]), myeloma, and lymphoma (Hodgkin’s and non-Hodgkin’s [NHL]). Disappointingly, neither there are any defined causes of hematological malignancies, nor there are any proven methods to avoid it. On the other hand, there are various risk factors associated with these type of cancers like sickness (fever), constant headaches and fatigue.
The current generation lives a sedentary lifestyle which results in a large number disorders. Such an unhealthy lifestyle is a major factor and is predicted to accelerate the growth of hematologic malignancies market in the coming years. The increasing focus on research and development activities and modernizations in the healthcare field is estimated to boost the hematological malignancies market. Additionally, the increasing awareness among consumers regarding the availability of enhanced treatments is estimated to create promising growth opportunities for the market players in future. Conversely, the inflated cost of branded drugs and lack of reimbursement policies are likely to obstruct the growth of hematologic malignancies industry in the next few years. Also, the growing number of mergers & acquisitions are expected to fuel the growth of the market considerably in the forthcoming years.
The hematologic malignancies market is categorized on the grounds of disease condition, therapy, distribution channel and geography. On the grounds of disease condition, the market is divided into Leukemia, Lymphoma and Myeloma. On the grounds of therapy, the hematologic malignancies industry is divided into Chemotherapy, Immunotherapy and Targeted Therapy. Over the last few years, immunotherapy led the demand with a significant share in the entire market. This is due to the therapy is known to be most efficient and has lowest risk of side-effects. On the grounds of distribution channel, hematologic malignancies market is divided into Hospital Pharmacies, Medical Stores and E-commerce Platform.
Geographically, the hematologic malignancies industry is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to experience high growth in the forecast period owing to increasing patients of hematological cancers and the improved diagnostic techniques. The prominent market players profiled here include Bristol-Myers Squibb, AbbVie, Inc., Celgene Corporation, F. Hoffmann-La Roche Ltd., Novartis AG and GlaxoSmithKline.
Hematologic Malignancies Type Outlook (Revenue, USD billion, 2014 - 2025)
• Acute Lymphocytic Leukemia
• Chronic Lymphocytic Leukemia
• Acute Myeloid Leukemia
• Chronic Myeloid Leukemia
• Multiple Myeloma
Hematologic Malignancies Therapy Outlook (Revenue, USD billion, 2014 - 2025)
• Stem Cell Transplantation
Hematologic Malignancies Regional Outlook (Revenue, USD billion, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
Research Support Specialist, USA