Chemotherapy Market to Witness Robust Growth in the Coming Years
Rising prevalence of cancer
and increasing expenditure on oncology medicine & research to drive the
growth of global chemotherapy market
According
to TechSci Research report, “Global
Chemotherapy
Market By Drugs (Alone, Combination), By Type (Alkylating Agents,
Nitrosoureas, Antimetabolites, Anti-tumor Antibiotics, Topoisomerase
Inhibitors, Mitotic Inhibitors, Corticosteroids, Others), By Indication
(Leukaemia, Lymphoma, Hodgkin Disease, Multiple Myeloma, Sarcoma, Bone Marrow
Disease, Immune System Disorder), By Route of Administration (Intravenous, Orally,
Transdermal, Intraperitoneal, Intrapleural, Intrathecal, Intravesical, Others),
By End-User (Hospitals, Specialty Center, Others), By Region, Forecast &
Opportunities, 2025”, the global chemotherapy market is expected to witness high
growth rate during the forecast period owing to increasing prevalence of cancer
around the world. Additionally, increasing funds and grant for research &
development of oncology drugs and treatment is also boosting the growth of
chemotherapy market. The reimbursements provided in various countries is also a
major factor propelling the market growth. Apart from that, people are now
aware of deadly cancer diseases and hence are willing to spend for the
treatment of cancer. Thus, increasing expenditure on healthcare is also one of
the major factors driving the growth of global chemotherapy market. Moreover,
governments in various economies are also taking initiatives to provide best
healthcare services to the people. This has led to establishment of various
cancer research and treatment centers. The increase in healthcare centers and
cancer treatment options is further expected to boost the growth of global
chemotherapy market. After an early detection of cancer, most of the
oncologists prefer chemotherapy treatment to avoid further multiplication of
cancerous cells. This also prevents the further growth of tumors cells, thereby
fueling demand for chemotherapy treatment around the world. However, the global
chemotherapy market also faces some challenges. It is a time-consuming
treatment and takes several months to show the symptoms of improvement. This might
pose as a threat for the market growth. Also, the side-effects associated with
chemotherapy is anticipated to restrain overall market growth.
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The global
chemotherapy market is segmented based on drugs, type, indication, route of
administration, end-user and region. Based on type, the market is segmented
into alkylating agents, nitrosoureas, antimetabolites, anti-tumor antibiotics,
topoisomerase inhibitors, mitotic inhibitors, corticosteroids and others. The alkylating
agents holds dominance in the global chemotherapy market and is expected to
undergo rapid growth during the forecast period as they stop the growth of tumor
by crosslinking guanine nucleobases in DNA double-helix strands, directly attacking
DNA. This is the most effective way of treating cancer. Based on route of
administration, the global oncology drugs market is segmented into intravenous,
orally, transdermal, intraperitoneal, intrapleural, intrathecal, intravesical
and others. The intravenous segment accounted for largest market share in 2019.
However, the oral segment is expected to grow at the highest CAGR during the
forecast period as they come in different forms and can be taken even at home.
Also, the continuous launch of new oral chemotherapy drugs is propelling the
growth of this segment.
Major players operating in the global chemotherapy
market include Abbott Laboratories, AbbVie Inc., Amgen Inc., Astellas Pharma
Inc., AstraZeneca, Bristol-Myers Squibb, Boehringer Ingelheim International
GmbH, Eli Lilly and Company, Fresenius Kabi AG, Novartis AG, Sanofi, Merck
& Co., Pfizer Inc., Roche Holding AG, F. Hoffmann-La Roche AG, GlaxoSmithKline
plc., Tarveda Therapeutics, Bayer AG,Johnson & Johnson Services Inc. and Celltrion
Inc., etc. The companies are investing on development of novel chemotherapy
drugs, which is providing great opportunity for the market growth. Moreover,
companies are doing partnership with other pharma companies to bring into novel
products for chemotherapy treatment.
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“Regionally,
North America dominates the global chemotherapy market as it has world class
cancer treatment facilities. The region is also witnessing rising number of
cancer patients, which is fueling the market. However, Europe is expected to
undergo highest CAGR during the forecast period on account of supportive
government initiatives to develop novel drug products for treatment of cancer. Additionally,
countries like Italy and France have some of the world’s best medical research
centers and hospitals,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Chemotherapy Market Drugs (Alone,
Combination), By Type (Alkylating Agents, Nitrosoureas, Antimetabolites,
Anti-tumor Antibiotics, Topoisomerase Inhibitors, Mitotic Inhibitors,
Corticosteroids, Others), By Indication (Leukaemia, Lymphoma, Hodgkin Disease,
Multiple Myeloma, Sarcoma, Bone Marrow Disease, Immune System Disorder), By Route
of Administration (Intravenous, Orally, Transdermal, Intraperitoneal,
Intrapleural, Intrathecal, Intravesical, Others), By End-User (Hospitals,
Specialty Center, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global chemotherapy
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global chemotherapy market.
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