Hematologic Malignancies Market Size, Share & Trends Analysis Report By Disease Type (Leukemia, Lymphoma, Multiple Myeloma), By Therapy (Chemotherapy, Immunotherapy, Targeted Therapy, Others), By Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, Online Pharmacies) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2025-2033

Hematologic Malignancies Market Size

The global hematologic malignancies market size was valued at USD 72.87 billion in 2024 and is projected to grow from USD 78.99 billion in 2025 to reach USD 147.71 billion by 2033, exhibiting a CAGR of 8.14% during the forecast period (2025-2033). 

Hematologic malignancies refer to cancers that originate in the blood, bone marrow, or lymphatic system, including conditions such as leukemia, lymphoma, and myeloma. These diseases disrupt normal blood cell production and function, posing significant health challenges globally.

The rising prevalence of these cancers, coupled with the surge in aging populations, is a major driver of the global market. The increasing incidence of leukemia and lymphoma has created a pressing need for novel treatments to improve disease management, boosting demand for innovative therapies. Advancements in stem cell and bone marrow transplants have significantly enhanced survival rates for patients, further supporting the market's growth.

Moreover, the rise of medical tourism in countries like India, South Korea, and Singapore, alongside international collaborations for clinical trials and drug development, is accelerating the global adoption of advanced hematologic cancer treatments, ensuring improved accessibility and outcomes for patients worldwide.

Hematologic Malignancies Market Trends

Increasing strategic collaborations between key market players

A prominent trend in the global market for hematologic malignancies is the increasing strategic collaborations between leading players to develop novel treatments or expand their product portfolios. These partnerships are accelerating innovation and improving patient outcomes.

For example,

• In November 2024, Kura Oncology, Inc. and Kyowa Kirin Co., Ltd. formed a global strategic collaboration to develop and commercialize ziftomenib for treating acute myeloid leukemia (AML) and other hematologic malignancies. As part of the agreement, Kura will receive an upfront payment of $330 million and up to $420 million in potential milestone payments.

• In another instance, in October 2024, AbbVie Inc. and EvolveImmune Therapeutics entered into a strategic collaboration and option-to-license agreement. This partnership aims to develop multispecific biologics for multiple oncology targets, utilizing EvolveImmune's T-cell engager platform to create novel antibody-based therapies for both solid and hematologic malignancies.

These collaborations highlight the growing focus on innovation and the potential for transformative treatments in hematologic malignancies.

Hematologic Malignancies Market Growth Factors

Increasing prevalence of hematologic malignancies

The rising prevalence of hematologic malignancies, including leukemia, lymphoma, and multiple myeloma, is a key factor driving the market growth. This growing disease burden fuels the demand for advanced diagnostic tools, innovative therapies, and personalized treatment, which, in turn, contribute to market growth.

For instance,

• According to the Leukemia Lymphoma Society, in 2024, about 62,770 people are expected to be diagnosed with Leukemia, and an estimated 456,481 people are living with leukemia in the US.
• As per the same source, about 89,190 people in the US are expected to be diagnosed with lymphoma in 2024.

Thus, the increasing prevalence of lymphoma and leukemia drives the demand for new cancer therapies, thereby driving market growth.

Strong product pipeline and increasing r&d by pharmaceutical companies

Pharmaceutical companies are actively developing new treatments for hematologic malignancies. These companies are also receiving approvals for new drug applications from the U.S. Food and Drug Administration (FDA).

• For instance, in August 2024, The FDA cleared an investigational new drug (IND) application for Umoja Biopharma's UB-VV111, a gene therapy product, allowing the company to go forward with a phase 1 dose escalation trial in hematologic malignancies.

Thus, the increasing number of products in the research pipeline creates new opportunities for the growth of the hematologic malignancies industry.

Market Restraining Factors

High cost of treatments

One of the key factors restraining the growth of the global market is the high cost of advanced treatments. Therapies like stem cell transplants and targeted treatments often involve substantial expenses, including hospitalization, supportive care, and long-term follow-up, which can make these therapies inaccessible to many patients.

For example, CAR-T cell therapies such as Novartis' Kymriah and Gilead's Yescarta cost over $400,000 per treatment, placing a significant financial burden on patients, especially in low-income regions. This high cost limits the adoption of these life-saving therapies, hindering market growth and accessibility for a large segment of the population.

Hematologic Malignancies Market Opportunities

Surge in product approvals and advancement in car t cell therapy

The increasing number of product approvals for hematologic malignancies significantly drives market growth. Regulatory agencies such as the FDA and EMA are fast-tracking approvals for innovative therapies such as CAR-T cell therapies, monoclonal antibodies, and antibody-drug conjugates. These approvals encourage pharmaceutical companies to accelerate research and development, fueling market expansion.

• In March 2024, Bristol Myers Squibb, a leading pharmaceutical company, received accelerated U.S. Food and Drug Administration (FDA) approval for its Breyanzi (lisocabtagene maraleucel; liso-cel), a CD19-directed chimeric antigen receptor (CAR) T cell therapy, for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia (CLL).

Such product approvals will expand the company’s product portfolio and drive market growth.

Regional Insights

North america: dominant region with 40.31% market share

North America holds a leading position in the hematologic malignancies market due to its well-established healthcare systems and cutting-edge technology, which enable early diagnosis and access to innovative treatments such as CAR-T cell therapy and monoclonal antibodies. The region also benefits from high adoption rates of new therapies and a large patient population.

Furthermore, the presence of major pharmaceutical players such as Pfizer Inc., Johnson & Johnson, and Merck & Co., Inc. supports market growth by ensuring continuous innovation and the availability of advanced treatment options. The combination of strong healthcare infrastructure, high healthcare spending, and favorable reimbursement policies further reinforces North America's dominance in the market.

Asia-pacific: fastest growing region with the highest market cagr

Asia Pacific is poised to register the fastest CAGR during the forecast period, driven by the rising incidence of hematologic cancers such as leukemia, lymphoma, and myeloma in countries like China, India, and Japan. The growing patient pool in these regions is significantly boosting the demand for effective treatments. The approval and adoption of advanced therapies, including CAR-T cell therapies and targeted treatments, are expanding rapidly across the Asia-Pacific region.

Moreover, improving healthcare infrastructure, increasing government support for healthcare initiatives, and rising awareness of hematologic cancers contribute to the region's rapid market growth. The increasing number of clinical trials, collaborations with global pharmaceutical companies, and the growth of medical tourism in countries like India and South Korea also support the regional demand for innovative treatments.

Country Insights

The global market is experiencing dynamic growth and diversification across the globe, with each region contributing uniquely to the advancement of this transformative field.

• US.- The U.S. is a leader in the global market due to its advanced healthcare infrastructure and high levels of investment in oncology research. For instance, in March 2023, Pfizer invested $43 billion to acquire Seagen Inc., marking a strategic focus on bolstering its oncology portfolio, specifically in antibody-drug conjugates (ADCs), an innovative cancer treatment technology.This move aligns with Pfizer's goal to expand its leadership in hematologic malignancies and solid tumors. The acquisition strengthens Pfizer's pipeline, addressing unmet needs in cancer care and driving long-term growth in oncology.

• Germany- Germany is one of the largest markets for hematologic malignancies in Europe, driven by its strong healthcare system, advanced treatment options, and research capabilities. Moreover, the increasing prevalence of hematologic malignancies also drives market growth. For instance, in 2020, about 13,570 people in Germany were diagnosed with leukemia, of whom 4% were under the age of 15.

• UK.- The UK market for hematologic malignancies benefits from its extensive National Health Service (NHS) infrastructure, which ensures that cancer treatments are accessible to a large population. The UK is also known for its strong research focus, particularly in hematology, with institutions like the University of Oxford leading groundbreaking studies in leukemia and lymphoma treatments.Moreover, the NHS's early adoption of new oncology drugs ensures better outcomes for patients and drives demand for advanced treatments.

• China– China, with its vast population, is experiencing rapid growth in the hematologic malignancies industry, driven by increasing cancer incidence and a rising geriatric population. In recent years, China has seen greater adoption of innovative therapies like CAR-T cell therapies and monoclonal antibodies, facilitated by regulatory approvals from the National Medical Products Administration (NMPA).For instance, in March 2024, NMPA approved the NDA for CARsgen's BCMA CAR-T Therapy Zevorcabtagene Autoleucel for relapsed or refractory multiple myeloma.

• Canada- In Canada, the market growth is driven by a high level of healthcare quality and the availability of a publicly funded healthcare system that offers access to many innovative treatments. Furthermore, increasing investment by the Canadian Cancer Society for cancer also drives market growth.For instance, in the last 15 years, the Canadian Cancer Society has invested $65.7 million in blood cancer research and development of novel therapies.

• South Korea- South Korea is witnessing significant growth in its global market, driven by its advanced medical technology and high healthcare standards. With increasing public awareness of cancer, the government’s support for medical research and development is driving market growth in South Korea.

Segmentation Analysis

The global hematologic malignancies market is segmented into disease type, therapy, and distribution channel.

By disease type

Leukemia segment dominates the market with the highest market revenue

Leukemia holds the largest share in the market due to its high prevalence and significant advancements in treatment options. Acute myeloid leukemia (AML) and chronic lymphocytic leukemia (CLL) are highly prevalence among hematologic malignancies across the globe.

• For instance, according to the National Cancer Institute, it accounts for 1.1% of all cancer cases in the U.S., and an estimated 20,240 people in the U.S. were diagnosed with acute myeloid leukemia in 2021.

By therapy

Chemotherapy segment holds the largest market revenue in 2024

Chemotherapy dominates the market for hematologic malignancies due to its established efficacy, broad application, and affordability as compared to other novel therapies. Additionally, chemotherapy is commonly used in combination with newer therapies to increase patient outcomes.

• For instance, chemotherapy agents, such as cytarabine and cyclophosphamide, remain key treatments for conditions like acute myeloid leukemia (AML) and lymphomas.

By distribution channel

Hospital pharmacies dominate the market with the highest market share

Hospital pharmacies are the leading distribution channel in the market due to their direct access to specialized cancer care and treatments. These facilities are equipped with the necessary infrastructure and expertise to handle the complex nature of hematologic malignancies, making them the preferred choice for patients requiring advanced therapies. Hospitals also have the capacity to manage complicated procedures, such as stem cell transplants, which necessitate highly trained medical personnel and specialized equipment.

Company Market Share

Key players in the global market are increasingly adopting crucial business strategies, including strategic collaborations, product approvals, acquisitions, and product launches, to strengthen their market position and expand their product portfolios.

Strategic collaborations, such as partnerships between pharmaceutical companies and research organizations, enable the development of innovative therapies and the sharing of expertise, accelerating the introduction of new treatments.

Incyte.: An emerging player in the hematologic malignancies market

Incyte is a biopharmaceutical company dedicated to addressing serious unmet medical needs by focusing on the discovery, development, and manufacturing of novel drug formulations. The company specializes in the development of targeted therapies for conditions such as cancer, particularly hematologic malignancies, and other diseases where current treatment options are limited.

Recent developments by Boehringer Ingelheim International GmbH:

• In August 2022, Incyte, a leading pharmaceutical company, received the U.S. Food and Drug Administration (FDA) approval for its Pemazyre (pemigatinib), a selective fibroblast growth factor receptor (FGFR) inhibitor, for the treatment of adults with relapsed or refractory myeloid/lymphoid neoplasms (MLNs) with FGFR1 rearrangement.

Recent Developments

• November 2024 - Geron Corporation announced new data to be presented at the 66th American Society of Hematology (ASH) Annual Meeting in December 2024. This data highlights the potential of RYTELO™ (imetelstat) in treating myeloid hematologic malignancies. The data comes from several studies, including the IMerge clinical trial, which suggests that imetelstat offers clinical activity in patients with lower-risk myelodysplastic syndromes (LR-MDS), even in transfusion-dependent cases.

Analyst Opinion

As per our analysts, the global market is experiencing strong growth, driven by the rising prevalence of conditions such as lymphoma and leukemia, increased research efforts by pharmaceutical companies, and a surge in new product launches. The market is viewed as highly dynamic, with significant expansion potential, especially in emerging regions where the cancer population is increasing.

Moreover, the growing demand for advanced treatments and the rapid development of the pharmaceutical industry in these regions are expected to further propel market growth. This combination of factors presents a promising outlook for the hematologic malignancies market in the coming years.