Certain factors that are driving the market growth include a rise in the prevalence of NHL, demand for innovative drugs and novel technologies, and an increase in the number of FDA approvals for NHL therapy drugs.
- In addition, an increase in public awareness about NHL, robust drug pipeline for the treatment of the disease, improved diagnostic techniques to detect NHL, and an increase in the prevalence of non-Hodgkin lymphoma are the factors fuelling the NHL therapeutics market across the world.
- However, the high cost of NHL drugs and various complications associated with them are acting as major restraints for the non-Hodgkin lymphoma therapeutics market. Additionally, stringent regulatory guidelines are limiting the growth of the market.
Key Market Trends
The Radiation Therapy Segment is Expected to Hold a Significant Market Share over the Forecast Period
Radiotherapy is the use of high-energy beams or particles to kill cancer cells, and it can be delivered from a source outside the body, i.e., external beam radiation or internally, such as brachytherapy. Usually, radiation treatments are given five days per week for several weeks. Radiation therapy is most effective when this kind of lymphoma is only found in one part of the body. According to the American Cancer Society, non-Hodgkin lymphoma (NHL) is one of the most common cancers in the United States that accounts for about 4% of all cancers. For non-Hodgkin disease, radiation therapy is used in the early stages. In the case of advanced lymphomas, radiation therapy is used along with chemotherapy for better treatment of NHL. If the lymphoma is widespread, palliative radiotherapy is very helpful. Radiotherapy is often very good at destroying non-Hodgkin disease cells. It mainly helps in relieving the symptoms caused by the lymphomas.
Asia-Pacific is Expected to Show the Highest Growth Rate over the Forecast Period
By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America dominates the non-Hodgkin lymphoma therapeutics market, due to increasing technological advancements and the rising incidences of NHL in the country. However, Asia-Pacific is expected to propel the non-Hodgkin lymphoma therapeutics market, owing to factors, such as increasing accessibility to healthcare facilities in the region and increasing prevalence of NHL. According to the research article published in 2018, it was estimated that the incidence rate of non-Hodgkin lymphoma was 7.11 per 100,000 per year in China. As the incidence and prevalence of non-Hodgkin lymphoma are increasing Y-o-Y, many manufacturing companies are investing to develop novel drug therapies to meet the growing demand for therapeutics. Hence, with the growing awareness of the disease, increasing government initiatives, and an increase in the burden of disease, the market is expected to grow over the forecast period.
The non-Hodgkin lymphoma therapeutics market is highly competitive and consists of a few major players. Companies, like AstraZeneca, Baxter International Inc., Bayer AG, Bristol Myers Squibb Company, Teva Pharmaceutical Industries Ltd, Eli Lilly and Co., F. Hoffmann La-Roche Ltd, GlaxoSmithKline PLC, hold substantial market shares in the non-Hodgkin lymphoma therapeutics market.
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