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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