Global Hodgkin’s Lymphoma Drugs Market 2019-2023 | 16% CAGR Projection Over the Next Four Years | Technavio
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The global Hodgkin's lymphoma drugs market will post a CAGR of close to 16% during the period 2019-2023 (Graphic: Business Wire)
Hodgkin's lymphoma is touted as one of the most curable forms of lymphoma, with a patient survival rate of over five years. Although early diagnosis offers a good prognosis in most patients, the risk of solid subsequent malignant neoplasms is significantly high. Additionally, the risk of treatment-related toxicity and the long-term quality of life still represent persistent challenges. Hence, research is being conducted to meet the unmet need for novel alternative treatment approaches. With an increased understanding of the fundamental biology of Hodgkin's lymphoma, companies have been able to develop drugs that are effective in treating the disease. Therefore, the advances in the understanding of the fundamental biology of Hodgkin’s lymphoma will boost market growth during the forecast period.
As per Technavio, the use of immunotherapy and transplantation will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global Hodgkin’s lymphoma drugs market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global Hodgkin’s lymphoma drugs market: Increase in number of companies investing in R&D
The need for a strong pipeline of disease-modifying drugs is increasing owing to the increasing prevalence of Hodgkin's lymphoma. Therefore, companies are investing heavily in research that focuses on the development of new therapies to improve long-term remission rates. Several companies are evaluating premium-priced drugs for the treatment of patients with progressive, relapsed, or refractory Hodgkin's lymphoma. Hence, the development of novel drugs will be one of the key trends that will impact market growth during the forecast period.
“Drug manufacturers and patient advocacy forums are providing co-pay relief programs for patients, as the drugs used for the treatment of Hodgkin's lymphoma are expensive. Under these programs, patients diagnosed with Hodgkin’s lymphoma pay a certain cost of the drug, while the insurer covers the remaining cost. Thus, the availability of patient assistance programs will drive the growth of the Hodgkin's lymphoma drugs market during the forecast period,” says a senior research analyst at Technavio.
Global Hodgkin’s lymphoma drugs market: Segmentation analysis
This research report on the Hodgkin’s lymphoma drugs market segments the market by type (targeted therapy, and chemotherapy), and geography (North America, Europe, Asia, and ROW).
The targeted therapy segment held the largest Hodgkin’s lymphoma drugs market share in 2018. The targeted therapy is used for advanced stage Hodgkin’s lymphoma when relapse occurs after standard chemotherapy. The key reason for the high market share of this segment would be the approvals for new drugs ADCETRIS and KEYTRUDA.
North America accounted for the highest share of the market in 2018 primarily due to the growing incidence of Hodgkin’s lymphoma in the region, the presence of reimbursement schemes, and approval of new drugs for the treatment of Hodgkin’s lymphoma. This region will also account for the highest growth of the Hodgkin’s lymphoma drugs market during the forecast period.
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Five Forces Analysis
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Source: Technavio Research