by The global T-cell Lymphoma Market is estimated to be valued at US$ 1961.64 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
T-cell lymphoma is a type of cancer that starts in T cells (a type of white blood cell). The global T-cell lymphoma market comprises products that help in the treatment of T-cell lymphoma such as chemotherapy drugs, targeted therapy, radiation therapy and stem cell transplant. With a rise in aging population and poor lifestyle habits, the risk of lymphoma has increased significantly. According to the National Cancer Institute, in 2022 there will be an estimated 82,090 new cases of non-Hodgkin lymphoma in the United States. Due to the growing disease prevalence, there is an increasing demand for effective therapies to treat T-cell lymphoma globally.
Market key trends:
Rise in research funding is one of the key trends in the T-cell lymphoma market. Various government and non-profit organizations are funding research activities to develop innovative treatment options. For instance, the Leukemia & Lymphoma Society (LLS) invested over US$ 75 million in 2020 towards research to advance therapies and cures for blood cancer patients. Similarly, increasing acquisitions and collaborations between key market players is another major trend. Companies are focusing on expanding their product portfolio and fast-tracking drug development through partnerships and acquisitions. For example, in January 2020, GlaxoSmithKline acquired Sierra Oncology, a late-stage biopharmaceutical company focused on rare forms of non-Hodgkin lymphoma including T-cell lymphoma.
Porter’s Analysis
Threat of new entrants: The T-cell lymphoma market requires high R&D investment and clinical trials which make it difficult for new companies to enter.
Bargaining power of buyers: The bargaining power of buyers is moderate as treatment options for T-cell lymphoma are limited.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the presence of several pharmaceutical companies producing drugs for T-cell lymphoma treatment.
Threat of new substitutes: There is no significant threat from substitutes currently.
Competitive rivalry: The market is competitive with key players focusing on product innovation.
Key Takeaways
The global T-Cell Lymphoma Market Share is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing investment in R&D of novel drugs.
Regional analysis: North America is expected to dominate the global T-cell lymphoma market over the forecast period owing to growing awareness regarding T-cell lymphoma and increasing healthcare expenditure. Asia Pacific exhibits high growth potential due to rapidly improving healthcare infrastructure and rising healthcare spending.
Key players: Key players operating in the T-cell lymphoma market are F. Hoffmann-La Roche Ltd, Biocryst Pharmaceuticals Inc., Bristol-Myers Squibb Company, Kyowa Kirin Co., Ltd., Genmab A/S, Seagen Inc., GlaxoSmithKline plc., Johnson and Johnson Private Limited, Elorac, Acrotech Biopharma, Merck and Co. Inc., Novartis AG, SHIONOGI & Co., Ltd., Spectrum Pharmaceuticals Inc., and Bausch Health Companies Inc. Focus on developing innovative drugs through collaborative research can help these players to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
