As per the recent study conducted by Reports and Data, the Global Hematological Cancers Therapeutics Market was valued at USD 34.38 Billion in 2019 and is expected to reach USD 72.84 billion by 2027, delivering a CAGR of 9.8% through the forecast period from 2020 to 2027. Hematology Cancer Therapeutics Market is primarily driven by a surge in the incidences of blood cancer across the globe and increasing investment in research and development in blood cancer therapeutics. Among the regions studied in the report, Asia Pacific is projected to register a CAGR of 10.5%, followed by North America at 9.6%.
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Additionally, the market for pharmaceuticals has become consolidated, urging the companies into launching novel drugs, in line with the imminent patent expiries of several drugs by 2027. To keep up with these changes, key market players are focusing on the launch of novel hematological cancers therapeutics in the market. In the global industry, North America is expected to dominate the hematological cancers therapeutics market during the forecast period with the surge in the number of leading pharmaceutical companies and the rise in the incidences of blood cancer in the region.
The San Francisco-based company Notable Health recently started the ANSWer trial that will test an AI platform in patients diagnosed with blood cancer. The hematology R&D wing of AstraZeneca, Acerta Pharma, declared a partnership with Veracyte, the company working on genomic testing, to further Acerta’s efforts in the development of oncology therapeutics.
The US-based biotechnology company Gilead Sciences has recently announced that it is acquiring Forty Seven Inc. for $4.9 Billion. Forty Seven is a clinical-stage immuno-oncology company that is engaged in creating novel drugs for cancer therapy, and its lead candidate is magrolimab, which earned a fast track designation by FDA last year. Immatics biotechnologies, which is working on hematological cancer therapy, recently received $50 million in funding from an adoptive cell therapy deal in solid tumor indications with GlaxoSmithKline plc.
Further key findings from the report suggest
- The pharmacological therapies market is estimated to grow at a CAGR of nearly 10.5% through the forecast period. To develop new drugs ahead of the upcoming patent expiries of several drugs by 2027, leading market players in the Hematology Cancer Therapeutics market are aiming for successful clinical trials to launch novel drugs in the market
- The market for hospitals is anticipated to dominate the market with revenue of more than 47.8 billion by 2027. The growth of the blood cancer therapeutics market for this segment is facilitated by increasing investments from both government and private bodies.
- Asia Pacific is expected to undergo a significant rise at a CAGR of more than 10.5% from 2020 to 2027 due to increased investment in research and development in blood cancer therapeutics. Moreover, government hospital expenditure and infrastructure development rate across the globe increased by 7% from 2016 to 2018, wherein most of the new additions are contributed by the Asia Pacific region.
- Key participants include Roche, Celgene, Johnson & Johnson, Karyopharm Therapeutics, Siemens AG, Mindray Medical, Abbott Laboratories, Bio-Rad Laboratories, AbbVie, HemoCue AB, Sysmex, and Novartis.
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For this report, Reports and Data segments the Global Hematological Cancers Therapeutics Market on the basis of type, end-user, and region into:
- Type Outlook (Revenue, USD Million, 2017 – 2027)
- Pharmacological Therapies
- Stem Cell Transplantation
- Surgery and Radiation Therapy
- Anemia Treatment
- Thrombosis Treatment
- Neutropenia Treatment
- End-User Outlook (Revenue, USD Million, 2017 – 2027)
- Clinical Laboratories
- Academic and Research Institutes
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- Regional Outlook (Revenue, USD Million, 2017 – 2027)
- North America
- The Netherlands
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East Asia
- Latin America
- North America
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