The increase in the prevalence of cancer and the negative effects associated with the use of cancer drugs and the increase in government spending on health care are driving the growth of the global cancer-promoting drugs market.
Portland, ore.And January 20 2022 /PRNewswire/ – Allied Market Research has published a report titled, Cancer Supportive Drugs Market by Type (erythropoiesis-stimulating factors (ESA), granulocyte-colony-stimulating factors (G-CSFs), antiemetics, bisphosphonates, opioids, NSAIDs (non-steroidal auto-inflammatory drugs), and others) Application (breast cancer, lung cancer, colorectal cancer, prostate cancer, liver cancer, stomach cancer, etc.) and distribution channel (hospital pharmacies, drug stores, retail pharmacies, and online service providers): Global Opportunity Analysis and Industry Outlook, 2021-2030.” According to the report, the global cancer supportive drug industry has been established 19.63 billion dollars In 2020, it is expected to reach 24.40 billion dollars By 2030, we could see a compound annual growth rate of 2.2% from 2021 to 2030.
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Drivers, limitations and opportunities
Increased prevalence of cancer and adverse effects associated with the use of cancer drugs, increased appetite for biosimilars, and increased government spending on health care are driving the growth of the global cancer supportive drug market. However, developments in targeted therapy drugs and strict regulatory process for biosimilars approval are restricting market growth. On the other hand, the rise in research and development activities, the increase in the number of supporting cancer drugs, and the untapped potential in emerging economies are creating new opportunities in the coming years.
Impact of COVID-19 on the Cancer Supportive Care Drugs Market-
Manufacturing and supply chain activities have been disrupted by restrictions on the trade of pharmaceutical ingredients and products across various countries. This factor negatively affected the cancer supportive care drug market.
Trials and research and development activities to develop new drugs for supportive cancer care have been disrupted and approval of pipeline drugs has been delayed.
Many patients have postponed chemotherapy procedures, which has reduced the demand for supportive cancer care drugs.
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G-CSFs (granulocyte colony stimulating factors) to maintain its leading position by 2030
Depending on the type, the G-CSFs (granulocyte colony-stimulating factors) segment received the highest share in 2020, accounting for more than two-fifths of the global cancer supportive drug market and is expected to maintain its leadership position during the forecast period. This is due to the high prevalence of chemical impulse-induced (CIN) neutropenia and the increased demand for G-CSFs for the treatment of CIN. However, the antiemetics segment is estimated to experience the highest compound annual growth rate of 2.4% from 2021 to 2030.
The pharmacy and retail pharmacy sector maintains its leadership during the forecast period
Based on the end user, the pharmacy and retail drugstore segment captured the largest share in 2020, contributing nearly half of the global cancer supportive drug market, and is estimated to maintain its leadership in terms of revenue during the forecast period. This is due to an increase in the number of drug stores and retail pharmacies offering both brand-name cancer support drugs and generics along with other discounts and benefits. However, the hospital pharmacies segment is expected to exhibit the largest compound annual growth rate of 2.3% from 2021 to 2030. This is due to the flexibility and convenience in sourcing prescription drugs by physicians and medical professionals.
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North America to maintain its dominance by 2030
based on the area, North America It contributed to the highest market share in 2020, accounting for about two-fifths of the global cancer supportive care drug market, and is expected to maintain its dominance by 2030. This is due to the increased prevalence of cancer, strong presence of key players, high availability of drugs and early diagnosis and policies Favorable repayment in this region. However, Asia Pacific It is estimated to experience the fastest compound annual growth rate of 2.3% from 2021 to 2030, due to the sudden rise in healthcare expenditures and the adoption of strategies such as mergers, acquisitions and expansion by the major market players in Asia Pacific Area.
Leading market players
Baxter International Corporation
F. Hoffmann-La Roche Ltd.
GlaxoSmithKline (GSK) (Tessaro)
Johnson & Johnson (Janssen Global Services, LLC,)
Novartis International AG (Sandoz)
Official Press Release: https://www.alliedmarketresearch.com/press-release/cancer-supportive-care-drugs-market.html
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