The global hematologic malignancies market is estimated to reach USD 85.8 billion by 2025, according to a new report by Grand View Research, Inc. Increasing incidence of hematologic malignancies and presence of a strong product pipeline are estimated to boost the market. Moreover, increasing number of mergers and acquisitions are also expected to accelerate growth.
Furthermore, governments of developing countries are spending more on healthcare and on improving healthcare infrastructure. This is likely to reduce out-of-pocket expenditure for patients. which is considered as one of the major factors driving the hematologic malignancies market.
Recently it has been seen that the government sources are taking an initiative in funding the institutes for breakthrough oncology research. This is a major growth driver for the market as it will support the institutes to conduct their research on a larger-scale without any financial constraints. Federal government funding for research in oncology has led to a substantial development in cancer detection, prevention, diagnosis, treatment and quality of life for patients. Due to the advancement in cancer research, more patients with cancer are being successfully treated. The increasing investment in cancer research is expected to boost the growth of market during forecast period
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Further key findings from the report suggest:
Multiple myeloma is expected to be one of the fastest growing segments over the forecast period owing to strong pipeline of blockbuster products
Chronic myeloid leukemia was identified as the largest leukemia subtype in 2016 due to availability of large number of products and high number of target population
Chemotherapy held the largest share in 2016 on the basis of therapy due to its preference as first line of therapy and wide product range
Immunotherapy is anticipated to be the fastest growing segment and this can be attributed to lower adverse effects and higher efficiency
North America dominated the market in 2016 owing to local presence of key players and increasing number of mergers and acquisitions
Asia Pacific is expected to be the fastest growing region over the next decade with lucrative CAGR from 2017 to 2025 due to improving economic conditions and rising healthcare expenditure
Some of the key players are Pfizer, Inc.; F. Hoffmann-LA Roche Ltd; Sanofi; Bristol-Myers Squibb Company; AbbVie, Inc.; Novartis AG; GlaxoSmithKline PLC; Celgene Corporation; Johnson & Johnson Services, Inc.; and Takeda Pharmaceutical Company Limited
Most of the key players are focusing on expanding their product portfolios, development of new treatment, and acquisitions.
Grand View Research has segmented the global hematologic malignancies market on the basis of type, therapy, and region:
Hematologic Malignancies Type Outlook (Revenue, USD billion, 2014 - 2025)
Acute Lymphocytic Leukemia
Chronic Lymphocytic Leukemia
Acute Myeloid Leukemia
Chronic Myeloid Leukemia
Hematologic Malignancies Therapy Outlook (Revenue, USD billion, 2014 - 2025)
Stem Cell Transplantation
Hematologic Malignancies Regional Outlook (Revenue, USD billion, 2014 - 2025)
Middle East & Africa
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