Global Chemotherapy Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2027
Global
Chemotherapy Market: Information by Drug Class (Alkylating Agents, Mitotic
Inhibitors, Antimetabolites, Topoisomerase Inhibitors and Antitumor
Antibiotic), Indication (Lung Cancer, Breast Cancer, Colorectal Cancer,
Prostate Cancer, Stomach Cancer, Lymphoma, Leukemia and Ovarian Cancer), Route
of Drug Administration (Intravenous, Oral, Subcutaneous, Intra-Muscular, Intravesicular,
Topical, Intraperitoneal and Intraventricular/Intrathecal) and End-User
(Specialty Centers and Hospitals & Clinics) - Global Forecast till 2027
Chemotherapy Market Highlights
Chemotherapy is a process in
medical science which is extensively used as a treatment for cancer. Rising
prevalence if cancer is fueling demand for chemotherapy globally. According to
the American Cancer Society, around 1.7 million new cancer cases are expected
to be registered in the U.S. in 2019. Market Research Future (MRFR) has
asserted in its study that the global chemotherapy
market is anticipated touch USD 56,491.59 Mn mark by 2024
exhibiting a robust CAGR of 11.50% during the projection period 2019 to 2024.
Rising oncology expenditure is
projected to boost the growth pattern of the chemotherapy market in the years
to come. In addition, the aids provided by governments and organizations for
making the process more accessible to underprivileged class is poised to have a
favorable influence on the growth trajectory of the market over the next couple
of years.
The easy reimbursement policies
offered by the insurance companies is anticipated to favor the expansion of the
chemotherapy market across the assessment period. In addition, the growing
research & development for making the process more effective is
prognosticated to accelerate revenue generation of the market across the
projection period. Other factors such as drug patent expiry, rising awareness,
government initiatives, etc. are anticipated to catapult the chemotherapy
market on upward trajectory.
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Market Segmentation:
By drug class, the global
chemotherapy market has been segmented into mitotic inhibitors, alkylating
agents, topoisomerase inhibitors, antimetabolites, and antitumor antibiotic. The
alkylating agents segment is anticipated to strike a comparatively higher CAGR
of 11.83% to reach a valuation of USD 20,360.32 Mn by 2024.
On the basis of indication, the
chemotherapy market has been segmented into breast cancer, colorectal
cancer, lung cancer, stomach cancer, lymphoma, prostate cancer, ovarian cancer,
and others. Among these, the lung cancer segment is projected to account for
the dominant share of the market and expand at 11.88% during the assessment
period.
The chemotherapy market, by route
of administration, has been segmented into oral, intravenous, subcutaneous,
intravesicular, topical, intramuscular, intraperitoneal, and
intraventricular/intrathecal. The
intravenous segment is poised to hold the maximum market share in the forthcoming
years. On the other hand, the oral segment has been projected to strike a
higher CAGR through the forecast period.
Based on end-user, the
chemotherapy market has been segmented into hospitals & clinics, specialty
centers, and others.
Regional Analysis:
By region, the global
chemotherapy market is segmented into Americas, Europe, Asia Pacific, and the
Middle East and Africa (MEA). Americas had a major share of the market in 2018,
accounting for 41.04% share. It is prognosticated to strike a CAGR of 10.88% during
the assessment period. The region is expected to witness a growing patient
population. It is projected to aid the expansion of chemotherapy market in the
forthcoming years.
Europe is an important growth
pocket anticipated to reach a valuation of USD 18,292.73 Mn by 2024. The
introduction of advanced healthcare services in the region is likely to
encourage the growth of the chemotherapy market. Meanwhile, Asia Pacific is
forecasted to strike a comparatively higher CAGR over the review period. China and
India are projected to contribute to the development of the market in the
region.
Competitive Dashboard:
The noted players participating
in the share analysis of the global chemotherapy market are Johnson &
Johnson Services Inc (US), Eli Lilly and Company (US), GlaxoSmithKline PLC
(UK), F. Hoffmann-La Roche Ltd (Switzerland), Pfizer Inc. (US), Novartis AG
(Switzerland), Merck & Co. Inc. (US), Celgene Corporation (US), Sanofi S.A.
(France), and Bristol-Myers Squibb Company (US).
Industry News:
In May 2019, Seattle Genetics,
a biotechnology company, has received approval from Health Canada Adcetris
(brentuximab vedotin) in combination with chemotherapyor patients with advanced
Hodgkin’s lymphoma.
In May 2019, Novocure, an
oncology company, has received the FDA approval for NovoTTF-100Lin Combination
with Chemotherapyto treat Malignant Pleural Mesothelioma.
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