Rising global prevalence of blood cancer, growing awareness about benefits of early diagnosis, and development of strong pipeline therapeutics are key factors driving market revenue growth
The global hematologic malignancies market size is expected to reach USD 120.56 Billion by 2028 at a CAGR of 10.7%, according to the latest report by Reports and Data. Rising prevalence of blood cancer, presence of strong pipeline therapeutics, and increasing expenditure in healthcare sector are key factors expected to drive market revenue growth over the forecast period. In addition, rapidly increasing geriatric population, rising awareness about early diagnosis and treatment, growing focus on developing advanced therapeutics, and increasing product approvals are expected to support market growth going ahead.
Hematologic malignancies are cancers that affect bone narrow, blood, and lymph nodes, and include different types of leukemia, myeloma, and lymphoma. Hematological malignancies account for nearly 9% of total newly diagnosed cancers in the United States. Blood cancer generally occur when there is rapid and uncontrollable growth of abnormal cells which interfere with development and functioning of normal cells. Hematologic malignancies are subdivided according to the type of blood cells that are affected. Lymphoblastic or lymphocytic malignancies occur in the lymphoid lineage, while myelogenous or myeloid malignancies occur in myeloid lineages. Treatment of hematologic malignancies is largely based on treating and alleviating symptoms. Aggressive hematologic malignancies require treatment with chemotherapy, immunotherapy, radiotherapy, and bone marrow transplant. increasing number of patients requiring chemotherapy and bone marrow transplant has increased over the recent past and this is expected to drive demand for these therapeutic approaches going ahead.
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According to the latest market research report by Reports and Data, the global pharma healthcare market is estimated to reach a market size of during the forecast period. Steady revenue growth of the global pharma healthcare market is primarily driven by factors such as rising prevalence of chronic and acute diseases across the globe, rise in global geriatric population, growing awareness of health wellness among the population, and growing need for advanced healthcare services. Other key factors providing impetus to the global market revenue growth are increasing availability of next-generation diagnostic solutions and treatment options – especially in developing countries around the world – growing demand for advanced drugs and therapeutics, rise in research development activities in the pharmaceutical and biotechnology industries, increasing public and private investments in the healthcare sector, and rising healthcare expenditure of consumers.
Market revenue growth is further driven by factors such as rising cases of COVID-19 worldwide, rapidly rising hospital admission rates, growing demand for rapid COVID-19 diagnostic test kits, increased government spending on COVID-19 vaccine development, increasing adoption of telehealth and telemedicine worldwide, and growing need for remote patient monitoring for geriatric patients.
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Global Hematologic Malignancies Market Report: Regional Segmentation
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of Middle East Africa
Regional Overview of the Global Hematologic Malignancies Market:
The global Hematologic Malignancies market report covers the key regional markets including North America, Latin America, Asia Pacific, Europe, and the Middle East Africa. Under this section, the report highlights the major regions in the global Hematologic Malignancies market and discusses the regional market share, market size, revenue contribution, distribution channels, sales networks, and other key elements.
Top Players in the Global Hematologic Malignancies Market:
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.
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