Cancer Supportive Care Drugs Market
Market Overview:
Supportive care includes appropriate palliative care without any other anticancer therapies. All patients diagnosed with various types of cancer such as breast cancer, lung cancer, and prostate cancer, require both anticancer therapies as well as supportive care products are necessary to develop the patient's quality of life and survival.
Market Size &Growth Rate:
The cancer supportive care drugs market was valued at USD 18.68 billion in 2021 and is expected to reach USD 21.42 billion by 2027, exhibiting a CAGR of 2.4 % during the forecast period 2022-2027. The growth could be attributed to the return of demand to pre-pandemic levels, increasing authorization of novel & innovative medicines, extensive research, disease prevalence, and immunotherapies.
Market Drivers:
Increasing prevalence of cancer and adverse effects associated with the use of cancer drugs
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The expected growth of the cancer platform includes the prevalence of cancer, growth in the elderly population, and high adoption of chemotherapy associated with adverse effects in both developed and developing nations.
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According to the WHO-2021, cancer is the largest cause of mortality worldwide, recorded nearly 10 million fatalities in 2020, or approximately one in every six deaths, and 400,000 children are diagnosed with the disease. Moreover, according to Globocan 2021, the new cancer cases that were diagnosed accounted for 19.3 million in 2021 globally, with 10.0 million deaths due to cancer
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As per WHO-2022, the breast cancer segment is projected to major growth rate platforms comparatively to other cancer platforms, with approximately 2.4 million new cases followed by lung cancer across the globe, as breast cancer is the first line of impact for cancer supportive care drugs.
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These numbers are expressed through the prevalence of cancer and its treatment associated with adverse effects is directly connected to cancer supportive care drugs
Market Restraints:
The high cost of cancer therapeutics hampers cancer-supportive care products
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Increasing cancer drug prices associated with cancer therapeutics are currently global challenges to cancer-supportive care product approaches and market outcomes. Meanwhile, prices differ between various nations across the world.
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Developing nations are most affected, with limited patient access to novel cancer treatments. Financial problems occur in almost all cancer types, and healthcare departments. Those at the major challenges include younger patients, and those with medical tourism without private health policies. For instance,
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Australia, Japan, and New Zealand are major revenue markets with public health spending above USD 3,000 per capita.
Market Opportunities:
The majority of the cancer-supportive care drugs market players proactively working to develop potential therapeutic methods and drug products to improve cancer-supportive care drug options.
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In September 2020, Merck presented more than 30 abstracts at the European Society for Medical Oncology (ESMO) Virtual Congress 2020
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In November 2019, Novartis AG received approval from FDA for Ziextenzo in the biosimilar version of pegfilgrastim
Recent Developments in the Industry:
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In September 2021, Intas Pharmaceuticals launched Oral Azacitidine in India under the brand name Azadine-O for Acute Myeloid Leukemia
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In April 2020, Gilead Sciences, Inc. received approval from FDA for Trodelvy (sacituzumab govitecan-hziy) in urinary tract cancer.
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In June 2020, Pfizer received approval for its NYVEPRIA, a biosimilar for Amgen’s NEULASTA.
Market Segmentation:
As per the research analysis, the global cancer supportive care drugs market is segmented by drug class into Granulocyte Colony-Stimulating Factors (G-CSFs), Erythropoiesis Stimulating Agents (ESAs), antiemetics, bisphosphonates, opioids, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), by cancer type into breast cancer, lung cancer, prostate cancer, melanoma, and other cancers
On the bases of the type of cancer type, the breast cancer segment is one of the most diagnosed cancers across the world. It accounts for 1 in 4 cancer cases in women and is the prevalence segment of cancer death in women. As per Union for International Cancer Control (UICC)-2021, in 2020, the anticipated 2.2 million new cases of breast cancer will account for one cancer diagnosed in every 10 cancers diagnosed. Moreover, as per the national cancer institute, in 2022, an expected 287,850 new cases from the breast cancer segment followed by lung cancer as the second-line diagnosis of the cancer segment, and new lung cancer cases are estimated at 236,740.
Geographical Classification:
The global cancer-supportive care drugs market is segmented into major countries including North America, Europe, South America, Asia Pacific, and the Middle East and Africa.
North America Cancer-Supportive Care Drugs Market:
North America is expected to hold a major market share in the global cancer-supportive care drugs market, it accounts for nearly 41% of the oncology market across the world. Factors such as the increasing prevalence of cancer and increasing initiatives by the public and private players are anticipated to drive market growth in the region.
In 2022, the American cancer society projected that the new number of cancer cases will be 1.9 million and 609,360 cancer deaths in the United States In this region, developed nations have well healthcare infrastructures with good economies, which reflects spending more funding on research & treatment of the oncology platform.
Europe Cancer Supportive Care Drugs Market:
As per the European Commission, in Europe is around 2.7 million new cases of cancer and approximately 1.3 million cancer deaths were registered in 2020. The significant gross revenue, growing extensive healthcare facilities, presence of healthcare investments, modern infrastructure, increased consumer awareness, and growing demand for cancer therapeutics & novel products among the population are the leading drivers of the Europe oncology platforms, which are directly associated with the cancer-supportive care drugs market.
Competitive Analysis:
However, it is expected to grow rapidly in the next couple of years with intense competition among the players and a rising number of cases. A few key players are already being observed adopting strategies, such as collaboration for the development of therapies and drugs, which may make the market crowded with new products in the next couple of years.
Major Companies:
Amgen Inc., Helsinn Healthcare, Baxter International, Fagron Group, Teva Pharmaceutical Inc., Kyowa Hakko Kirin, Heron Pharma, Johnson & Johnson, Merck & Co. Inc, Novartis (Sandoz), Hoffmann-La Roche, Acacia Pharma Group Plc, Sanofi, Sun Pharmaceutical Industries Ltd., Celldex Therapeutics, Ipsen Pharma and Others.
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