The Hematological Malignancies Drugs Market Size is estimated to grow at a CAGR of 14.2% during the forecast period for 2024-2031.
Hematologic malignancies are cancers that most often start in the bone marrow or the immune system cells. Lymphom, leukemia, and multiple myeloma are the three most common blood malignancies. The development of innovative agents has contributed to improved outcomes for cancer patients in recent years, resulting in significant advancement in the field of cancer therapy. The COVID19 pandemic, on the other hand, has hampered current cancer patient treatments. Because of their immunosuppression, patients with haematological malignancies appear to be extremely prone to Covid-19 infection.
The multiple factors driving the growth of the Hematological Malignancies Drugs Market include the rising hematological malignancy cases, technological advances in therapy techniques, favourable regulatory environment, growing government funding for the R&D of innovative cancer therapies, spreading public awareness regarding the benefits of advanced blood cancer therapeutics, and the high demand for cost-efficient malignancy treatments. The increasing incidences of leukemia, lymphoma, and multiple myeloma cases led to the emergence of advanced therapeutics. For instance, in October 2021, Novartis acquired the US FDA approval for Scemblix (asciminib) to treat chronic myeloid leukemia (CML). Also, Bristol Myers Squibb (US) received U.S. FDA approval for Istodax (romidepsin), a histone deacetylase (HDAC) inhibitor, as monotherapy for the treatment of peripheral T-cell lymphoma (PTCL) in adult patients who have received at least one prior therapy. Thus, R&D activities are expected to offer new growth opportunities for the Hematological Malignancies Drugs Market in the forthcoming years.
However, the high cost of therapies, complex manufacturing methods, and the side effects of emerging therapies may inhibit market augmentation over the forecast years.
Market Segmentation
The Hematological Malignancies Drugs Market is classified based on drugs, pipeline products, indications, and region. By drugs, the market is segmented into monoclonal antibodies (Blincyto (Blinatumomab), Besponsa (Inotuzumab Ozogamicin), Lumoxiti (Moxetumomab Pasudotox), Mylotarg (Gemtuzumab Ozogamicin), Opdivo (Nivolumab), AiRuiKa (Camrelizumab), Tyvyt (Sintilimab), Tislelizumab, Gazyva (Obinutuzumab), Zynlonta (Loncastuximab Tesirine-lpyl), Darzalex (Daratumumab), Blenrep (Belantamab Mafodotin-blmf), Keytruda (Pembrolizumab), Adcetris (Brentuximab Vedotin), Arzerra (Ofatumumab)) and CAR-T cell therapy (Tecartus (Brexucabtagene Autoleucel), Kymriah (Tisagenlecleucel), Yescarta (Axicabtagene Ciloleucel), Breyanzi (Lisocabtagene Maraleucel), Abecma (Idecabtagene Vicleucel)). By pipeline products, the market is grouped into monoclonal antibodies (Teclistamab, Iomab-B, Ublituximab, CS1001) and CAR-T cell therapy (Ciltacabtagene Autoleucel (JNJ-68284528)). The indications segment comprises leukemia (acute lymphoblastic leukemia, chronic lymphoblastic leukemia, acute myeloid leukemia), lymphoma (Hodgkin’s lymphoma and Non-Hodgkin’s lymphoma), and multiple myeloma. Region-wise, the market is studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America dominated the Hematological Malignancies Drugs Market in 2023 and is expected to continue its trend over the forecast period (2024-2031) due to the surging R&D funding for malignancy therapeutics and the growing incidences of leukemia and lymphoma in this region.
Competitive Landscape
Some Of The Key Players In The Hematological Malignancies Drugs Market:
- AbbVie Inc.,
- Amgen Inc.,
- Bristol-Myers Squibb Company,
- Hoffmann-La Roche Ltd.,
- Gilead Sciences, Inc.,
- GlaxoSmithKline plc,
- Immune-Onc Therapeutics, Inc.,
- Johnson & Johnson Services, Inc.,
- Merck & Co., Inc.,
- Novartis International AG,
- Pfizer Inc.,
- Sanofi S.A.,
- Takeda Pharmaceutical Company Limited,
The Hematological Malignancies Drugs Market Report Scope
|
Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD XX Billion |
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Revenue Forecast In 2031 |
USD XX Billion |
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Growth Rate CAGR |
CAGR of 14.20% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Drugs, By Pipeline Products, By Indication |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Gilead Sciences, Inc., GlaxoSmithKline plc, Immune-Onc Therapeutics, Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc., Novartis International AG, Pfizer Inc., Sanofi S.A., Takeda Pharmaceutical Company Limited, and others. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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