Press release
Breakthrough Treatments for Non-Hodgkin Lymphoma
According to The Business Research Company's, The non hodgkin lymphoma (nhl) market size has grown strongly in recent years. It will grow from $9.34 billion in 2023 to $10.23 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased incidence of nhl, advancements in diagnostics, chemotherapy and immunotherapy, clinical research and drug development, improved survival rates.
The non hodgkin lymphoma (nhl) market size is expected to see strong growth in the next few years. It will grow to $14.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to growing aging population, advancements in targeted therapies, immunotherapy innovations, precision medicine approaches, increasing awareness and early detection. Major trends in the forecast period include rise of biosimilars, integration of next-generation sequencing, adoption of car-t cell therapies, novel chemotherapy agents, real-world evidence and outcomes research.
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Market Drivers and Trends:
The high prevalence of non-Hodgkin lymphoma is expected to propel the growth of the non-Hodgkin lymphoma market going forward. It is a cancer that develops in the lymphatic system, which is part of your immune system. The prevalence of non-Hodgkin lymphoma refers to the number of individuals in a population who are currently diagnosed with or living with the condition at a specific time. Non-Hodgkin lymphoma treatment helps improve outcomes for individuals already diagnosed with the condition by targeting and managing the cancer cells. For instance, in January 2023, according to the American Cancer Society, a US-based cancer health organization, non-Hodgkin lymphoma accounts for 4% of all cancers, and in 2023, it will affect around 80,550 Americans, including 44,880 males and 35,670 females. It also estimates that 20,180 people will die in 2023 because of non-Hodgkin lymphoma. Furthermore, in May 2022, according to the Canadian Cancer Society, a Canada-based national cancer charity, non-Hodgkin lymphoma would be diagnosed in 11,400 Canadians in the year 2022. It would claim the lives of 3,000 Canadians. Therefore, the high prevalence of non-Hodgkin lymphoma is driving the non-Hodgkin lymphoma market.
Advancements in drug innovations are a key trend gaining popularity in the non-Hodgkin lymphoma market. Companies operating in the non-Hodgkin market are focused on innovating new products to sustain their position in the market. For instance, in December 2022, Genentech Inc., a US-based biotechnology company, received FDA approval for Lunsumio, a novel bispecific antibody for treating relapsed or refractory follicular lymphoma. This antibody is a new class of fixed-duration cancer treatment immunotherapy, and it is a readily available and off-the-shelf treatment option patients do not need to wait to receive this immunotherapy treatment. The FDA approval is based on positive results from the Lunsumio Phase II GO29781 research in persons with extensively pretreated FL, particularly those at high risk of illness progression or unresponsive to prior treatments.
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Major Key Players of the Market:
Bayer AG; Teva Pharmaceutical Industries Ltd.; F. Hoffmann La Roche Ltd.; Merck & Co. Inc.; Eli Lilly and Co.; Novartis AG; GlaxoSmithKline plc; AbbVie Inc.; AstraZeneca plc; Takeda Pharmaceutical Company Limited; Bristol Myers Squibb Co.; Pfizer Inc.; Celgene Corporation; Sanofi S.A.; Janssen Pharmaceuticals Inc.; Johnson & Johnson; Biogen Idec; Boehringer Ingelheim GmbH; Eisai Co. Ltd.; Gilead Sciences; Incyte Corporation; Karyopharm Therapeutics; Kite Pharma Inc.; Kyowa Hakko Kirin Co. Ltd.; MorphoSys AG; Nordic Nanovector ASA; Ono Pharmaceutical Co. Ltd.; Seattle Genetics Inc.; Spectrum Pharmaceuticals Inc.
Non Hodgkin Lymphoma (NHL) Market 2024 Key Insights:
• The non hodgkin lymphoma (nhl) market will grow to $14.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• High Prevalence Of Non-Hodgkin Lymphoma Fuels Market Growth
• Bispecific Antibody Revolutionizes Treatment Options For Relapsed Lymphoma
• North America was the largest region in the non-Hodgkin lymphoma (NHL) market in 2023
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