Global Hematologic Malignancies Market to Reach US$ 122.4 Billion by 2032, Propelled by Rising Cases of Blood Cancer

April 21, 2023 | Healthcare

IMARC Group's latest report, titled "Hematologic Malignancies Market Report by Type (Leukemia, Lymphoma, Multiple Myeloma, and Others), Therapy (Chemotherapy, Radiotherapy, Immunotherapy, Stem Cell Transplantation, and Others), End User (Hospitals, Diagnostics Centers, Research Centers, and Others), and Region 2024-2032," finds that the global hematologic malignancies market size reached US$ 60.3 Billion in 2023. Hematologic malignancies are types of cancer that affect the blood-producing cells, which include red blood cells, white blood cells, and platelets. They originate from hematopoietic stem and progenitor cells in the bone marrow, and any abnormality in their development can lead to hematologic malignancies such as leukemia, lymphoma, and multiple myeloma. It can be detected using various tests such as microscopy, cytogenetics, immunophenotyping, flow cytometry, fluorescence in situ hybridization (FISH), polymerase chain reaction (PCR), and gene expression profiling. At present, several drugs, including histone deacetylase inhibitors, antitumor antibiotics, and Janus kinase (JAK) inhibitors, are widely available across the globe for treatment based on diagnostic tests.

Global Hematologic Malignancies Market Trends:

The rising cases of blood cancer and the increasing demand for advanced cancer treatment represent the primary factors driving the market growth. Moreover, the surging prevalence of acute myeloid leukemia (AML) and increasing life expectancy have augmented the demand for hematologic malignancies drugs. Along with this, numerous advancements in immunohistochemistry (IHC) that aids in the accurate diagnostics of hematologic malignancies by exposing tissue samples to various antibodies directed against cell molecules and antigens are positively influencing the market growth. Additionally, the rising awareness about early diagnosis and improvements in diagnostic methods have catalyzed market growth. Besides this, the easy availability of surgical therapy for diagnosing and treating lymphoma complications, such as obstruction, stricture, and perforation, is propelling the market growth. Apart from this, the launch of novel therapies and multiple-label expansions of premium-priced agents like CAR T-cell therapies and brexucabtagene autoleuce is another major growth-inducing factor. Furthermore, ongoing clinical research studies to develop advanced drugs for patients with advanced hematologic malignancies are contributing to the market growth. Other factors, including continual research and development (R&D) activities to improve the quality of drugs, significant improvements in healthcare infrastructure, and surging drug approvals and launches, are also anticipated to drive the market further. Looking forward, IMARC Group expects the market value to reach US$ 122.4 Billion by 2032, expanding at a CAGR of 7.9% during 2024-2032.

Market Summary:

Based on the type, the market has been divided into leukemia, lymphoma, multiple myeloma, and others.
On the basis of the therapy, the market has been segmented into chemotherapy, radiotherapy, immunotherapy, stem cell transplantation, and others.
Based on the end user, the market has been categorized into hospitals, diagnostics centers, research centers, research centers, and others.
Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being AbbVie Inc., AstraZeneca plc, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Johnson & Johnson, Merck & Co. Inc, Novartis AG, Pfizer Inc., Sanofi S.A., and Takeda Pharmaceutical Company Limited.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Therapy, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	AbbVie Inc., AstraZeneca plc, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Johnson & Johnson, Merck & Co. Inc, Novartis AG, Pfizer Inc., Sanofi S.A. and Takeda Pharmaceutical Company Limited
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Hematologic Malignancies Market to Reach US$ 122.4 Billion by 2032, Propelled by Rising Cases of Blood Cancer

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