New York, USA, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Chemotherapy Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Chemotherapy Market Information by Drug Class, Indication, Route of Drug Administration, and End-User -Forecast till 2030”, The market is anticipated to reach USD 14,505 Million by 2030 at 7.50% CAGR during the forecast period 2022-2030.
Market Scope:
Treatment with chemotherapy involves the elimination of rapidly dividing abnormal cells. It involves the application of chemicals and lasers to eliminate all of the diseased cells. Chemotherapy is a phrase used to describe the process of killing cancer cells in a patient, and an oncologist is a medical professional who specializes in this field. Depending on the stage of cancer and the affected body part, chemotherapy may be used in conjunction with other treatments such as radiation therapy or surgery to remove the affected tissue or cells. Collectively, chemotherapy is harmful to human health and reduces the body's ability to fight off future illnesses.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 14,505 Million |
| CAGR | 7.50% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Drug Class, Indication, Route of Drug Administration and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing adoption and investment in new chemotherapies procedures |
| For Smaller stage cancer the chemotherapy proves to be effective |
Chemotherapy Market Competitive Dynamics:
The key players of the market are:
- Novartis AG
- Almatic Pharma
- Pfizer
- AstraZeneca Pharmaceuticals
- Astellas Pharma
- Puma Biotechnology
- Clovis Oncology
- Takeda Pharmaceutical Company Limited
- Amgen Inc.
- Sanofi
- Bayer HealthCare Pharmaceutical
- Jazz Pharmaceutical
- EMD Serono
- Celgene Corporation
- GlaxoSmithLine PLC
- AbbVie Inc.
- Eli Lily
Chemotherapy Market Dynamics:
Market Drivers
The medication market has exploded in the recent century due to increased funding for oncology research into the development of a chemotherapeutic cure for cancer. The primary factors in determining a patient's choice of cancer treatment are the cancer's kind and stage. Chemotherapy has been shown to be effective for cancers at earlier stages. High-stage cases typically necessitate surgical intervention.
Sometimes, radiation therapy, chemotherapy, or both are required following surgery when it has not been able to eradicate all cancer cells. This entire set of factors is what's pushing the chemotherapy industry forward. The rising cost of healthcare has encouraged more people to purchase health insurance as a hedge against potential medical bills. The government's participation in pushing the anti-drug development market is crucial because it ensures the enforcement of rules and regulations against the sale of expired pharmaceuticals, which is essential for protecting public health.
Market Restraints
Since neither the chemo medicines themselves nor the radiation treatments that follow them can distinguish between healthy and defective cells, chemotherapy ultimately does more harm to patients than the cancer itself. Chemotherapy's significant side effects, such as fatigue, heart issues, weight loss, decreased red blood cell count, diarrhea, loss of hair, weight loss, poor lung, kidney, and liver function, and lower bone density, discourage many people from attempting to battle the cancerous cells. The chemotherapy industry is boosted by all these causes.
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COVID-19 Analysis:
In November of 2019, reports of the COVID-19 virus spread around the globe. Medically speaking, the world was not ready for the severity of this illness because no such virus had been predicted or identified in the previous years. The governments of the world instituted lockdowns in an effort to stop the virus from spreading further. Antiviral medications that have been used to treat lymphoma, such as azithrthe, omycin, and pralatrexate, have been demonstrated to be effective against SARS-CoV-2, and have been used to eradicate COVID-19 (the COVID-19 virus). Companies that produce chemotherapy drugs have reaped financial benefits from funding corona research projects 19 times, according to COVID. These firms stand to gain market share and credibility as a result of developing more efficient treatments for coronavirus.
Chemotherapy Market Segmentation:
by Drug Class
Alkylating Agents is expected to record substantial growth over the review period.
Indication
Lung Cancer segment is expected to rise at a notable CAGR over the review period.
Route of Drug Administration
Intravenous segment is expected to acquire a significant value over the review period.
End-User
The hospital and clinics segment is poised to record substantial growth over the review period.
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Chemotherapy Market Regional Analysis:
The chemotherapy market is dominated by countries in North America and Europe since these regions are the first to embrace and invest in innovative chemotherapies techniques. In 2019, the United States will have captured 40% of the global market for chemotherapy production on its own. Moreover, rising levels of disposable income per capita among the region's population are also anticipated to play a significant role in driving expansion of the regional market. Furthermore, the high frequency of cancer across the region is expected to be another important factor driving the regional market.
In order to better understand their patients and develop less intrusive cancer therapies, European countries like Russia, Germany, and France have poured millions of euros into the production departments of chemotherapy equipment. Funding healthcare departments and maintaining spending value to encourage research departments in the chemotherapeutic market are two examples of the government's important function in these nations.
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As a result of the region's expanding middle class, the Asia Pacific region of the worldwide chemotherapy market is expected to expand at a modest rate over the projected period. Due to factors such as an increase in cancer patients, public awareness, population growth, etc., the pharmaceutical R&D industry in Asia-Pacific nations like China and India has become fertile ground for the market of chemotherapy. The government's efforts to educate the public about the benefits of chemotherapy are also likely to contribute to the expansion of this sector.
The aging populations of Africa and the Middle East have contributed to the expansion of the chemotherapy market in recent years, and this trend is projected to continue in the foreseeable future. The expanding cancer research budget and growing public knowledge of the disease are also factors that will drive expansion of this industry. Additionally, the government's efforts to raise public knowledge about chemotherapy are anticipated to fuel the expansion of the chemotherapy industry in this area.
Discover more research Reports on Healthcare Industry, by Market Research Future:
Compounding Chemotherapy Market: Information By Dose (Chemotherapeutic and Non-Chemotherapeutics), By Compounding Type (Pharmaceutical Ingredient Alteration (PIA), Currently Unavailable Pharmaceutical Manufacturing (CUPM), Pharmaceutical Dosage Alteration), By Delivery Method (Gravimetric Automated Compounding Device (Weight-Based) and Volumetric Automated Compounding Device (Volume-Based)), By Sterility (Sterile and Non-Sterile), By Technology (With Robotic Arms and Without Robotic Arms), By Compounder Type (Pharmoduct, Equashield Pro, Medimix, Integra, Others), By Application (Breast Cancer, Blood Cancer, Prostate Cancer, Gastrointestinal Cancer, Respiratory/Lung Cancer) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027
Lung Cancer Market: Information By Type (SCLC and NSCLC), By Treatment (Surgery, Chemotherapy, Radiotherapy, Photodynamic Therapy (PDT) and Laser Therapy), By End User (Hospital & Clinics, Cancer Research Centers and Laboratories) - Global Forecast till 2030
Breast Cancer Market Size, Trends and Insights by Types (Invasive Ductal Carcinoma, Invasive Lobular Carcinoma and other), by Treatment (Chemotherapy, Surgery & Radiation Therapy, Targeted Therapy, Biologic Therapy, Hormone Therapy), end users (Hospital Pharmacies, Private Pharmacies) – Forecast to 2030
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
