PUBLISHER: IMARC | PRODUCT CODE: 1820095
PUBLISHER: IMARC | PRODUCT CODE: 1820095
The global hematologic malignancies market size reached USD 65.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 129.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.55% during 2025-2033. Growing prevalence of blood cancer, increasing adoption of targeted therapies and immunotherapies tailored to genetic profiles, and expansion of biopharmaceutical pipelines focusing on novel treatments for hematologic cancers are some of the key factors driving the growth of the market.
Rising Prevalence of Blood Cancer
Escalating incidences of blood cancer and a growing emphasis on the development of new treatments are primarily driving the growth in the hematologic malignancies market. According to Globocan 2020, the estimated incidence of leukemia was the highest in Asia, with 230,650 cases diagnosed in 2020, followed by 100,020 cases in Europe and 67,784 cases in North America. Thus, the high incidence of leukemia worldwide is expected to drive the hematologic malignancies market growth. Similarly, according to the Global Cancer Observatory, in 2020, nearly 67,784 cases of leukemia and an estimated 35,318 cases of multiple myeloma were reported in the North American region. According to the Leukemia and Lymphoma Society, in 2021, an estimated combined total of 397,501 people in the United States were living with or in remission from leukemia in the United States. Thus, a prominent rise in blood cancer cases in the market is expected to propel the hematologic malignancies market value over the forecasted period.
Growing Number of Product Launches, Partnerships, and Collaborations
Numerous companies are implementing diverse strategic initiatives such as launching new products, forming partnerships, fostering collaborations, and engaging in mergers and acquisitions to enhance their market presence. This, in turn, is positively impacting the hematologic malignancies market outlook. For instance, in October 2020, AstraZeneca Pharma India announced the launch of Acalabrutinib 100 mg capsules, which are used for the treatment of various types of leukemias (leukemia (CLL) and small lymphocytic lymphoma) under the brand name Calquence. Similarly, in January 2024, Tata Memorial Hospital developed India's first oral chemo drug for Leukaemia. This groundbreaking development is poised to revolutionize cancer treatment, specifically hematologic malignancies like Acute Lymphoblastic Leukaemia (ALL), providing a more precise and child-friendly alternative to traditional tablets. Such innovations are projected to augment the hematologic malignancies market demand in the coming years.
Increasing Product Approvals
Various concerned regulatory authorities are increasingly approving hematologic malignancies drugs, which is creating a positive outlook for the overall market. For instance, in September 2020, the US FDA approved Bristol Myers Squibb's azacytidine (Onureg) 300 mg tablets, CC-486, to continue treating adult patients with acute myeloid leukemia. Similarly, in March 2021, Sanofi SA received US FDA approval for its Sarclisa (isatuximab) in combination with carfilzomib and dexamethasone for patients with relapsed or refractory multiple myeloma. In line with this, in February 2021, TG Therapeutics Inc. received the US FDA accelerated approval for its UKONIQ (umbralisib), an oral, once-daily inhibitor of phosphoinositide 3 kinase (PI3K) delta and casein kinase 1 (CK1) epsilon for the treatment of adult patients with relapsed or refractory marginal zone lymphoma (MZL) and adult patients with relapsed or refractory follicular lymphoma (FL). Significant growth in number of approved drugs for treating blood cancer is propelling the hematologic malignancies market value.
The hematologic malignancies market report has provided a detailed breakup and analysis of the market based on the type. This includes leukemia, lymphoma, multiple myeloma, and others.
Leukemia is a type of hematologic malignancy, also known as blood cancer, that originates in the bone marrow and affects the production of blood cells. The rising cases of leukemia across the globe are bolstering the hematologic malignancies market share. According to Globocan 2020, the estimated incidence of leukemia was the highest in Asia, with 230,650 cases diagnosed in 2020, followed by 100,020 cases in Europe and 67,784 cases in North America.
Furthermore, the significant rise in the multiple myeloma market is a clear indication of the need for increased research and development. For instance, according to the Global Cancer Observatory, in 2020, nearly 35,318 cases of multiple myeloma were reported in the North American region. This rise in multiple myeloma cases underscores the importance of your work and is positively influencing the hematologic malignancies market price trends.
As per the hematologic malignancies market overview by IMARC, for most types of blood cancers, chemotherapy is the common treatment. The large patient pool and the increasing incidence of blood cancers are the major drivers augmenting the need for chemotherapy. For instance, in June 2019, the United States Food and Drug Administration granted approval to Polivy to be used in combination with the chemotherapy drug bendamustine and rituximab to treat adult patients with diffuse large B-cell lymphoma (DLBCL) that has progressed or returned after at least two prior therapies.
The hematologic malignancies market research report has provided a detailed breakup and analysis of the market based on the end user. This includes hospitals, diagnostics centers, research centers, and others.
Hospitals are primary end users in the hematologic malignancies market, providing diagnosis, treatment, and ongoing care for patients with blood cancers, such as leukemia, lymphoma, and myeloma. They offer a range of specialized services, including chemotherapy, radiation therapy, stem cell transplantation, and supportive care. Hospitals also serve as centers for clinical trials and research, driving advancements in treatment options and patient outcomes.
Diagnostics centers are essential for early detection and monitoring of hematologic malignancies through a variety of tests, including blood tests, bone marrow biopsy, imaging studies, and genetic testing. These centers provide accurate diagnostic services, enabling healthcare providers to initiate timely treatment strategies. Diagnostics centers often collaborate closely with hospitals and oncology clinics to ensure comprehensive patient care and management throughout the treatment journey.
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
The hematologic malignancies market shows strong growth globally. In North America, the growth can be attributed to the advanced healthcare infrastructure and high incidence rates. Europe follows with significant investments in research and development. Asia-Pacific is emerging rapidly, driven by increasing healthcare expenditure and improving access to advanced treatments, fostering market expansion.
Besides this, hematologic malignancies market statistics indicates that the presence of key players, the high prevalence of blood cancer patients, established healthcare infrastructure, and the availability of branded drugs in North America and Asia Pacific countries are positively impacting the hematologic malignancies industry. According to the Global Cancer Observatory, in 2020, nearly 67,784 cases of leukemia and an estimated 35,318 cases of multiple myeloma were reported in the North American region. As per the Leukemia and Lymphoma Society, in 2021, an estimated combined total of 397,501 people in the United States were living with or in remission from leukemia in the United States. Thus, the increasing number of blood cancer cases in the region is a major driving factor for the growth of the market. Besides this, hematologic malignancies market forecast by IMARC indicates that beneficial government initiatives and an increase in the number of research partnerships are further contributing to the market growth. For instance, in December 2020, the Leukemia and Lymphoma Society (LLS) initiated a collaboration to form alliances with leading cancer institutions and foundations to co-fund nearly US$ 17 Million in research grants to progress the research in finding effective treatment options for patients with leukemia, lymphoma, myeloma, and other blood cancers.