Age makes a person vulnerable to lymphoma. Hence rising pool of aging population is one of the chief drivers of the global lymphoma treatment market. Fortune Business Insights in a report, titled “Lymphoma Treatment Market Size, Share and Global Trend by Type (Hodgkin Lymphoma Non-Hodgkin Lymphoma), By Treatment Type (Chemotherapy, Radiation Therapy, Immunotherapy by End User (Clinics, Hospitals, Cancer Centers), Geography Forecast till 2026” offers insights into key developments in the market. To provide a comprehensive overview, the report also segments the market in terms of various parameters.
Major companies present in Lymphoma Treatment Market are
- ABIOGEN PHARMA S.p.A
- Aeterna Zentaris Inc.
- Johnson & Johnson
- Bristol-Myers Squibb Company
- Merck & Co., Inc
- Abbott Laboratories
- Hoffmann-La Roche Ltd. and Eli Lilly and Company.
In the global lymphoma treatment market North America held considerable share in 2018. The region is foreseen to emerge dominant over the forecast period 2019-2026. Owing to increasing incidence of lymphoma, the regional market is likely to witness high demand for lymphoma therapeutics and treatment. Owing to the growth witnessed, there is high demand for new therapies and therapeutics to treat lymphoma. The Asia Pacific lymphoma treatment market is projected to expand at a relatively higher CAGR. The increasing geriatric population in the region is likely to fuel the demand for lymphoma treatment in Asia Pacific. Additionally, government of some Asian nations have taken initiative to curb the incidence of lymphoma. This will lead to rising awareness about lymphoma treatment and enable growth in market. Improving healthcare infrastructure in nations such as China and India is foreseen to contribute towards the market growth.
Increasing Aging Population to Stoke Growth Prospects
In terms of type, the global Lymphoma Treatment Market is classified into Hodgkin Lymphoma and Non-Hodgkin Lymphoma. The Non-Hodgkin Lymphoma segment held a considerable share in the market in 2018. The global prevalence of Non-Hodgkin Lymphoma is quite high. Owing to the high prevalence of disease, the segment is projected to witness impressive growth.
The National Health Service introduced a 10-year plan in 2019. The focus of the plan is to implement a new approach for the treatment of lymphoma with patient’s consultation and awareness. This is further expected to fuel the demand for lymphoma therapeutics and treatment.
Increasing healthcare expenditure and rising disposable income are some factors anticipated to drive the global market during the forecast period. Furthermore, approval for new therapeutics is propelling growth in global market.
As per the Lymphoma and Leukemia Association, in the U.S. approximately 83,180 adults were suffering from lymphoma (8,500 HL and 74,680 NHL) in 2018. Such a factor is expected to propel growth in the global market.
The factors expected to hamper the growth in the global market are high pricing associated to lymphoma therapeutics and treatment and lack of awareness about lymphoma.
Genentech Adopting New Strategy to Lead the Market
The global lymphoma treatment market is witnessing promising growth. Key players are focusing on product launch and adopting innovative strategies. For instance, Obinutuzumab a product by Genentech Inc. received approval from the Food and Drug Administration in 2017. Obinutuzumab is specially developed to treat patients suffering from stage II bulky and III or IV follicular lymphoma. This development is further expected to increase the growth rate in market. some of the key players operating in the global lymphoma treatment market are ABIOGEN PHARMA S.p.A, Aeterna Zentaris Inc., Johnson & Johnson, Bristol-Myers Squibb Company, Merck & Co., Inc, Abbott Laboratories, F. Hoffmann-La Roche Ltd. and Eli Lilly and Company.
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