T-cell Lymphoma Market is Estimated To Witness High Growth Owing To Rising Global Incidence of T-cell Lymphoma
The 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 lymphomas are a group of malignant disorders that originate from mature or developing T lymphocytes. The two main types are acute T-cell lymphomas and peripheral T-cell lymphomas. T-cell lymphomas are more aggressive than B-cell lymphomas and often affect the skin and intestines. Early diagnosis and treatment is important for managing the disease.
Market key trends:
Rising global incidence of T-cell lymphoma: According to a report by American Cancer Society, around 8,310 cases of T-cell lymphoma were expected in 2019. Research studies have indicated that incidence rates for all subtypes of T-cell lymphoma have increased over the past four decades. This rise in patient pool is expected to drive the growth of this market during the forecast period. Research institutes and pharmaceutical companies are continuously investing in R&D to develop effective diagnosis and treatment options for better management of T-cell lymphoma patients.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as T-cell lymphoma market size requires high R&D investment and clinical trials for drug development. Established key players dominates the market.
Bargaining power of buyers: The bargaining power of buyers is moderate as the treatment options are limited and buyers have to rely on limited key players.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw material suppliers have no control over prices due to availability of substitute.
Threat of new substitutes: Threat of new substitutes is high as research focuses on developing novel targeted therapies.
Competitive rivalry: Intense among key players to lead the market.
SWOT Analysis
Strength: Established distribution channel, high R&D investment capability, several pipeline products.
Weakness: High treatment cost, risk of side effects.
Opportunity: Increasing healthcare expenditure, awareness programs, strategic collaborations.
Threats: Patent expiry of blockbuster drugs, stringent regulatory requirements.
Key Takeaways
The global T-cell lymphoma market is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing incidence of lymphoma. North America is expected to dominate the global T-cell lymphoma market over the forecast period owing to established healthcare infrastructure and availability of advanced treatment options in the region.
Regional analysis: Asia Pacific is the fastest growing region in T-cell lymphoma market owing to increasing healthcare expenditure, rising awareness about disease, and presence of generic drug manufacturers. China dominates the Asia Pacific T-cell lymphoma market.
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.
For more insights, read - https://creativenewsalert.blogspot.com/2023/12/artificial-intelligence-driven.html
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