Global Hematological Cancers Market Size: Opportunities, Current Trends And Industry Analysis By 2030 | AbbVie Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline PLC, HK inno.N Corp
Hematological Cancers Market to Grow at 10.1% CAGR during 2021-2030, Owing to Increasing Investments towards Development of Effective Treatment Options Catering to Various Areas of Hematological Cancers
Haematology is defined as a complex and challenging area of medicine, encompassing different ailments ranging from cancers of the blood to hemophilia. This type of cancer either begins in the bone marrow, or in the cells of immune system of human body. Blood cancer is the name for hematological cancer and its prominent types are leukemia, lymphoma, and multiple myeloma. Growing prevalence of blood cancer is aiding the growth of global hematological cancers market. As different types of cancers affect people of different range, it has been reported that most of the leukemia patients are among children below 14 or above 40. Consumption of tobacco can cause a type of cancer that can either weaken the immune system and damage or alter a person’s DNA due to which uncontrollable cancer cells can get developed. Excessive alcohol can interfere with the production of new cells in the bone marrow of human body. Exposure to harmful radiation and chemicals due to increasing pollution and growing urbanization are well known to cause blood cancer and sometimes even skin cancer. Some people also suffer from blood cancer due to family history.
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Global regions such as, North America, Latin America, Asia-Pacific, Japan and India have been analyzed on the basis of productivity of several industries that gives clear understanding to increase the outcome of the companies. In addition to this, it offers complete analysis of leading key players in terms of product manufacturers and outlines of services.
Some of the major players operating in the global hematological cancers market are AbbVie Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline PLC, HK inno.N Corp., Johnson & Johnson Services Inc., Novartis AG, Pfizer Inc., Sanofi, and Takeda Pharmaceutical Company Limited amongst others.
The increasing investments towards development of effective treatment options catering to various areas of hematological cancers showcases lucrative growth opportunities for global hematological cancers market over the forecast period. The investments from both government and private bodies is increasing the production as well as the supply of blood cancer therapeutics. Research & development (R&D) efforts in blood cancer therapeutics are being directed towards exploring the effectiveness of treatment and determining what all kinds of cancers can it effectively cure. With coronavirus pandemic bringing the world to a standstill, many drug makers are experimenting with drugs to see if they can boost the immunity of people and save them from any symptoms of COVID-19 or maybe cure any symptom.
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Leukemia segment occupied the largest share in the global hematological cancers market. According to an annual survey, there are approximately 1.24 million blood cancer cases worldwide and approximately, 6% of such cases are leukemia. Approximately, 454,341 leukemia cases are estimated to be recorded every year. According to a report by Global Cancer Observatory, North America had nearly 67,784 cases of Leukemia and an estimated 35,318 cases of multiple myeloma.
The chemotherapy segment held the largest share in the global hematological cancers market. Being the first line of treatment, chemotherapy has always been an important segment in this market. It is a common treatment for most types of blood cancers. Depending on the type of cancer, a particular drug (anti-cancer medicine) or a combination of drugs is used for chemotherapy. Chemotherapy can deliver anti-cancer drugs to the body in either of two ways – by mouth or intravenously.
Considering the administration segment of global hematological cancers market, the local therapies (surgery, radiation therapy, topical therapy, etc.) segment had occupied the largest market share. North America region dominated the global hematological cancers market. Advanced healthcare infrastructure, the presence of major market players, high prevalence of blood cancer patients along with increasing blood cancer cases have contributed towards the region’s highest share.
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Global Hematological Cancers Market:
• By Type
Acute Lymphocytic Leukemia (ALL)
Chronic Lymphocytic Leukemia (CLL)
Acute Myeloid Leukemia (AML)
Chronic Myeloid Leukemia (CML)
o Others (Myelodysplastic Syndromes (MDS), Myeloproliferative Neoplasms (MPN))
• By Treatment Type
o Stem Cell Transplantation
o Targeted Therapy
o Radiation Therapy
• By Administration
o Local Therapies (Surgery, Radiation Therapy, Topical Therapy, Etc.)
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