Market Trends of Non-Hodgkin Lymphoma Therapeutics Industry
The Radiation Therapy Segment is Expected to Hold a Significant Market Share over the Forecast Period
- Radiotherapy (RT) plays an essential role in the management of NHL and remains the most powerful therapeutic intervention for aggressive subtypes of NHL.
- Rising initiatives from the key market players, such as launches and partnerships, are the major factors responsible for the segment's growth. Many companies entered into a partnership to provide the radiopharmaceutical industry with a unique service solution for theranostic drug development. For instance, in July 2021, Oncodesign, Covalab, CheMatech, and ABX-CRO entered into a partnership to launch the DRIVE-MRT (Molecular Radiotherapy) solution. The DRIVE-MRT has all technologies related to the validation of targets, the generation and optimization of vectors, and the radiochemistry and PET/SPECT imaging techniques.
- Likewise, in May 2021, United Imaging, a China-based company involved in medical imaging and radiotherapy equipment, launched its uAIFI Technology Platform for MR and uExcel Technology Platform for PET/CT at the China International Medical Equipment Fair (CMEF). Therefore, key initiatives such as partnerships and the launch of products in the market are anticipated to increase the availability of products, driving market growth.
- The rising importance of radiation therapy in the management of NHL is expected to drive the segment's growth. For instance, according to the study published by Oncology Journal in December 2022, radiation therapy such as involved-field radiotherapy is very useful in the treatment of extranodal and nodal NHL and can provide tailored treatments. Therefore, the advantages of radiation therapy in the effective treatment of NHL in individual patients are expected to drive the segment's growth.
- Thus, owing to the diverse advantages of radiation therapy in the management of NHL and rising initiatives from the key market players, it is expected to show growth over the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
North America is Expected to Hold a Healthy Growth in the Market Over the Forecast Period
- Due to increasing technological advancements and the rising incidences of NHL, North America is expected to show healthy growth in the non-Hodgkin's lymphoma therapeutics market.
- Non-Hodgkin lymphoma (NHL) is one of the most common cancers in the United States. In January 2023, the American Cancer Society's estimates for non-Hodgkin's lymphoma are that about 80,550 people (44,880 males and 35,670 females) will be diagnosed with NHL. Furthermore, according to the Canadian Cancer Society, in May 2022, 11,400 Canadians will be diagnosed with non-Hodgkin lymphoma, including 6,600 men and 4,800 women. Thus, such a huge incidence of NHL will likely contribute to regional growth due to the increased adoption of NHL therapeutics.
- Furthermore, the approval of innovative therapies for the NHL is another factor boosting the market's growth. For instance, in April 2022, the US FDA approved axicabtagene ciloleucel (Yescarta, Kite Pharma, Inc.) for adult patients with large B-cell lymphoma (LBCL). In addition, in January 2022, Cellular Biomedicine Group Inc. received US FDA approval for C-CAR039, a novel autologous bi-specific CAR-T therapy targeting both CD19 and CD20 antigens for the treatment of patients with relapsed or refractory diffuse large B cell lymphoma (r/r DLBCL).
- Hence, factors such as the rising incidence of NHL and initiatives such as product launches from the key market players are expected to drive the market over the forecast period.
Get Analysis on Important Geographic Markets
Download Sample
