The global chemotherapy market is assessed in a new report from Market Research Future (MRFR), which estimates the global chemotherapy market to exhibit a strong 6.2% CAGR over the forecast period from 2017 to 2023. The global chemotherapy market is mainly driven by the growing demand for the treatment of a number of cancers, whose prevalence has been growing steadily all over the world in the last few years. On the other hand, the growing awareness about the potential harm caused by chemotherapy to the patient is likely to restrict its demand and drive the need for improved methods to beat cancers that don’t harm the patient.
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Chemotherapy is one of the few proven treatments for cancer. Chemotherapy, literally meaning therapy by chemicals, is administered orally or through IV and breaks down cancer cells, especially targeting the cancer cells looking to proliferate. This helps doctors get a handle on the growth of cancerous tumors in a patient’s body. The cytotoxic effects of chemotherapy have led to clear results in the treatment of several cancers, which is likely to drive the demand from the chemotherapy market over the forecast period. The growing prevalence of cancers such as breast cancer, stomach cancer, colorectal cancer, prostate cancer, and lung cancer is likely to be a major driver for the global chemotherapy market over the forecast period. Governments in several parts of the world have also begun to support chemotherapy initiatives that aim to expand the reach of chemotherapy medications so as to maximize its positive impact in terms of maintaining an entire population in good health.
However, the adverse impact of chemotherapy on the patient is likely to be a restraint against the global chemotherapy market over the forecast period. Chemotherapy medications are highly active and cannot discriminate between healthy human cells and malevolent cancerous tumors. This can lead to several adverse consequences such as vomiting, fatigue, loss of hair, and loss of appetite. This has led to chemotherapy being rejected in favor of more advanced treatment options that allow for smoother recovery. Growing product innovation to overcome the drawbacks of chemotherapy treatment could emerge as a key restraint on the global chemotherapy market over the forecast period.
Leading players in the global chemotherapy market include Sanofi, Pfizer Inc., ImClone Systems Inc., AstraZeneca, Boehringer Ingelheim, Teva Pharmaceutical Industries, Merck & Co. Inc., Celgene Corporation, Bayer AG, Takeda Pharmaceutical Company Limited, Amgen Inc., Chemo Espana SL, F. Hoffman-La Roche Ltd., Bristol-Myers Squibb, Schering-Plough, GlaxoSmithKline, Eli Lilly & Company, and Novartis.
In March 2019, the U.S. FDA approved an immunotherapy drug for triple-negative breast cancer. Previously, patients with this diagnosis could only opt for chemotherapy. However, the development of robust immunotherapy drugs could hinder the chemotherapy market in the world over the coming years.
The global chemotherapy market is segmented on the basis of drugs, indication, route of administration, end user, and region.
On the basis of drug, the chemotherapy market is segmented into alkylating agents, antimetabolites, anti-tumor antibiotics, topoisomerase inhibitors, mitotic inhibitors, and others. Alkylating agents are further segmented into mustard gas derivatives, ethylenimines, alkyl sulfonates, hydrazines and triazines, and others. Anti-tumor antibiotics are further segmented into anthracyclines and chromomycin. Topoisomerase inhibitors are further segmented into topoisomerase I inhibitors and topoisomerase II inhibitors.
On the basis of indication, the market is segmented into leukemia, lymphoma, breast cancer, ovarian cancer, lung cancer, myeloma, sarcoma, and others.
On the basis of route of administration, the chemotherapy market is segmented into oral and intravenous.
On the basis of end user, the market is segmented into hospitals, research institutes, and others.
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The Americas dominates the global chemotherapy market and is likely to remain the leading contributor to the market over the forecast period due to the strong presence of leading market players in the region and the growing prevalence of certain types of cancer in the region.
Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the growing prevalence of cancer and the rapid updation of the healthcare sector in the region following large-scale investment from governments as well as private market players.
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