Chemotherapy is excessively used for the treatment of different types of cancer such as lung cancer, bone cancer, blood cancer, etc. The technological advancements in the treatment are further expected to boost the future trajectory of the chemotherapy market.
According to the analysis offered by Market Research Future (MRFR), the global chemotherapy market has been presumed to strike a CAGR of 6.2% during the forecast period 2017 to 2023. Chemotherapy is an effective treatment for cancer which infuses drugs into the bloodstream to target specific cancer sites. The growth trajectory of the market is anticipated to be dominated by the rising burden of the disease.
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Emphasis is placed on research & development for bringing more precision and effectiveness. It is prognosticated to have a favorable impact on the expansion of the chemotherapy market. On the flip side, factors such as the high cost of treatment and poor reimbursement policies remain impediments to the market growth. In addition, the side effects of the treatment such as hair loss, hearing impairment, alopecia, etc. are projected to further hinder the proliferation of the chemotherapy market in the upcoming years.
Competitive Dashboard:
Some of the key players profiled in this MRFR report are Sanofi (France), Eli Lilly & Company (U.S.), GlaxoSmithKline (U.K.), Novartis (Germany), Pfizer Inc. (U.S.), ImClone Systems Inc. (U.S.), AstraZeneca (U.K), Schering-Plough (U.S.), Bristol-Myers Squibb , Teva Pharmaceuticals Industries (Japan), F. Hoffmann-La Roche Ltd ( Switzerland), Boehringer Ingelheim (Germany), Merck & Co., Inc. (U.S.), CELGENE CORPORATION (U.S.), Amgen Inc (U.S.), Chemo Espana SL (Spain), Bayer AG (Germany), and Takeda Pharmaceutical Company Limited (Japan).
Market Segmentation:
On the basis of drugs, the global chemotherapy market has been segmented into anti-tumor antibiotics, topoisomerase inhibitors, alkylating agents, antimetabolites, mitotic inhibitors, and others. The alkylating agents segment has been further sub-segmented into mustard gas derivatives, ethylenimines, alkyl sulfonates, hydrazines and triazines, and others. The anti-tumor antibiotics segment is further sub-segmented into anthracyclines and chromomycin. The topoisomerase inhibitors segment has been sub-segmented into Topoisomerase I inhibitors and Topoisomerase II inhibitors.
On the basis of indication, the chemotherapy market has been segmented into lymphoma, leukemia, breast cancer, lung cancer, myeloma, ovarian cancer, sarcoma, and others.
On the basis of the route of drug administration, the global chemotherapy market has been segmented into oral and intravenous.
On the basis of end-user, the chemotherapy market has been segmented into hospitals, research institutes, and others.
Regional Analysis:
By region, the global chemotherapy market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is expected to thrive significantly in the foreseeable future. The rising burden of cancer is poised to dive the expansion of the chemotherapy market in the region over the assessment period. Other factors that are likely to propel the expansion of the regional market are changing lifestyle, advancements in healthcare, rising healthcare expenditure, etc.
Europe is projected to witness considerable growth owing to the availability of funds and government support for research & development. Also, Asia Pacific is likely to flourish during the projection period due to rapid developments in the healthcare sector. It is estimated to strike a comparatively higher CAGR across the review period. Meanwhile, the Middle East & Africa resonates growth opportunities owing to the increasing awareness about the disease.
Industry News:
In May 2018, Advanced Chemotherapy Technologies, North Carolina, has started working on large coin-sized implant for delivering chemo agents into the pancreas.
In September 2018, Alan B. Pearson Regional Cancer Center in Lynchburg announced the installation of Dignicap Cooling System that cools down the scalp by 37 degrees for preventing hair loss during chemotherapy.
In December 2018, a team of experts is reported to work on the development of dry powder for inhaled chemotherapy. The Belgian spin-off project, InhaTarget Therapeutics, aims at treating lung cancer locally.
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