High disease prevalence across the globe coupled with ongoing research and development is expected to stimulate market growth
According to the current analysis of Reports and Data, the global blood cancer market accounted for USD 38.08 Billion in 2020 and is expected to reach USD 80.35 Billion by 2028 , at a CAGR of 9.83 percent. Hematology Cancer Therapeutics market is majorly driven by a high incidence of blood cancer across the globe and favorable funding scenario for the research and development of therapeutics for blood cancer. In terms of region, Asia Pacific is estimated to grow at a CAGR of 10.5 % followed by North America with 9.6% percent.
Additionally, the increase in pressure has driven the market of pharmaceutical companies into the launch of new drugs, considering the upcoming patent expiries of several drugs by 2026. In line with this, key market players focus on the launch of new blood cancer in the market. Owing to the strong presence of pharmaceutical companies and the high prevalence of blood cancer in the region, North America is expected to dominate the blood cancer market during the forecast period.
Further key findings from the report suggest
- The market for pharmacological therapies market is projected to grow significantly and deliver a CAGR of 10.5 percent. Owing to pressure for the development of new drugs in lieu of upcoming patent expiries of several drugs by 2026, the leading market players of Hematology Cancer Therapeutics market are focusing on obtaining successful clinical trials to launch new drugs in the market
- The market for hospitals is anticipated to dominate the market with the revenue of 47.6 billion by 2026. Growth in blood cancer therapeutics market for this segment is supported by reimbursement from government as well as private bodies across the globe.
- Asia-Pacific will witness a significant rise at a CAGR of 10.5% from 2018 to 2026 in light of favorable government inclination towards the research and development related to blood cancers. Additionally, government hospital spending and infrastructure development rate across the globe has increased by 7 % during the period 2016-2017, with the majority of the new additions being derived from the Asia Pacific region.
North America is the largest market for healthcare, followed by Asia-Pacific, Western Europe and then the other regions. Due to favorable regulations and policies in these regions, healthcare industry is rapidly growing. As the market in developed countries is nearly saturated, market players have shifted their focus toward the developing regions, especially the emerging economies of Asia Pacific.
The prominent factors favoring market growth include increasing launches and initiatives by the market players to provide rapid treatment for addressing the diseases of the patients in the healthcare industry. Market-trend-based strategies for the healthcare market include increasing the adoption of bundled payments, using digital tools, increasing collaborations across industries and companies, focusing on the development of new medicines, and adopting hybrid imaging technology. Players adopted strategies in the healthcare industry include acquiring companies in similar industries to expand their presence and focusing on offering quality products and services.
The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
Top companies operating in the market and profiled in the report include:
Roche, Celgene, Johnson Johnson, Karyopharm Therapeutics, Siemens AG, Mindray Medical, Abbott Laboratories, Bio-Rad Laboratories, AbbVie, HemoCue AB, Sysmex, and Novartis.
Further, the report segments the Blood cancer market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Blood cancer Market Segmentation:
- Type Outlook (Revenue, USD Million, 2018 - 2028)
- Pharmacological Therapies
- Stem Cell Transplantation
- Surgery and Radiation Therapy
- Anemia Treatment
- Thrombosis Treatment
- Neutropenia Treatment
- End User Outlook (Revenue, USD Million, 2018 - 2028)
- Clinical Laboratories
- Academic and Research Institutes
Regional Analysis covers:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1068
Thank you for reading our report. To know more about the customization feature, please get in touch with us and our team will ensure the report is customized to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.