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A07133 | Pages: 338 | Charts: 82 | Tables: 137 |
The global cancer supportive care drugs market was valued at $20.4 billion in 2022, and is projected to reach $25 billion by 2032, growing at a CAGR of 2% from 2023 to 2032. The escalating prevalence of cancer necessitates chemotherapy, intensifying its associated adverse effects and propelling the cancer supportive care drugs market. For instance, the American Cancer Society in 2023, stated that 10% of people were living with metastatic colorectal cancer in the U.S., in 2022. Chemotherapy, while targeting fast-growing cells, induces side effects by affecting healthy cells, leading to complications such as anemia and hair loss. Supportive care drugs become pivotal in managing these side effects, facilitating more comfortable cancer treatment. With potential limitations in prescribed treatments due to adverse effects, the demand for supportive drugs addressing issues such as anemia and pain surges, ensures optimal treatment outcomes amid the rising cancer incidence.
Cancer supportive care drugs are medications designed to manage symptoms and side effects of cancer and its treatments, enhancing patients' quality of life. These drugs address issues such as pain, nausea, fatigue, and infections, offering relief and supporting overall well-being during cancer therapy. They play a crucial role in mitigating treatment-related challenges, allowing individuals to better tolerate and adhere to their cancer treatments while minimizing the impact of adverse effects on their daily lives.
The growing geriatric population, coupled with a shift toward patient-centric care, is driving substantial growth in the cancer supportive care drugs market. As the elderly demographic, which is more susceptible to cancer, expands, the demand for cancer supportive care drugs rises. Patient-centric care emphasizes holistic well-being, necessitating effective supportive therapies to enhance the quality of life during cancer treatment. This paradigm shift aligns with the needs of the aging population, fostering increased adoption of supportive care drugs. The market responds by developing targeted solutions, meeting the unique requirements of elderly patients, thus propelling cancer supportive care drugs market growth through the convergence of demographic trends and a patient-centric approach to healthcare.
However, the stringent regulatory frameworks hinder the timely approval and commercialization of new drugs. Stringent regulatory processes often involve rigorous scrutiny, leading to prolonged timelines for drug development, approval, and market entry. Compliance with complex regulatory requirements poses challenges for pharmaceutical companies, impacting their ability to introduce innovative and potentially more effective supportive care drugs swiftly. Delays in regulatory approvals can restrain the market's growth by limiting the availability of advanced therapies, ultimately affecting the timely and improved management of side effects associated with cancer treatments.
Global recession poses a threat to the progress of clinical trials, crucial for advancing cancer drugs, potentially causing delays or cancellations, and hindering market growth. The ongoing economic downturn, affecting pharmaceutical and biotech industries, leads to reduced funding and fluctuating demand for cancer drugs as companies adjust spending. According to the International Monetary Fund, advanced economies are expected to slow in 2023. Despite challenges, the cancer supportive care drugs market can persevere through personalized medicine adoption, cell research advancements, and a rising cancer incidence. Overcoming economic constraints requires collaborative efforts, innovative pricing strategies, and advocacy for increased healthcare budgets. Thus, the impact of the recession on the cancer supportive care drugs market is moderate, with potential for resilience through strategic measures in navigating the complex economic landscape.
The cancer supportive care drugs market is segmented on the basis of type, application, distribution channel, and region to provide a detailed assessment of the market. By type, it is segmented into erythropoiesis-stimulating agents (ESA), granulocyte colony-stimulating factors (G-CSFs), antiemetics, bisphosphonates, opioids, NSAIDs (non-steroidal anti-inflammatory drugs), and others. On the basis of application, the market is categorized into breast cancer, lung cancer, colorectal cancer, prostate cancer, liver cancer, stomach cancer, and others. Depending on distribution channel, the market is fragmented into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The cancer supportive care drugs market is segmented into erythropoiesis-stimulating agents (ESA), granulocyte colony-stimulating factors (G-CSFs), antiemetics, bisphosphonates, opioids, NSAIDs (non-steroidal anti-inflammatory drugs), and others. The granulocyte colony-stimulating factors (G-CSFs) segment accounted for the largest cancer supportive care drugs market size in terms of revenue in 2022 and is expected to maintain its lead during the forecast period. The Vital function of G-CSFs is supporting cancer patients by stimulating the production of white blood cells, thereby aiding in the prevention of infections during chemotherapy and driving the segment growth.
However, the antiemetics segment is expected to register the fastest CAGR in the forecast period. Antiemetics significantly enhance the quality of life for patients undergoing chemotherapy. The rising demand for effective nausea and vomiting control is expected to drive the rapid growth of the antiemetics segment in the cancer supportive care drugs market.
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The cancer supportive care drugs market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, liver cancer, stomach cancer and others. The breast cancer segment accounted for the largest cancer supportive care drugs market size in terms of revenue in 2022 and is expected to maintain its lead during the forecast period. The surge in breast cancer prevalence and rise in adoption of diverse treatments, often accompanied by side effects, contribute to a rising demand for cancer support care drugs.
However, the lung cancer segment is expected to register the fastest CAGR in the forecast period. The escalating prevalence of lung cancer and the increased adoption of diverse treatments have led to a surge in lung cancer cases, intensifying the demand for supportive care interventions. As awareness about the importance of comprehensive and effective supportive care grows and treatment options expand, there is an imperative need to address the unique challenges associated with lung cancer. This drive is essential for enhancing the overall quality of life for individuals affected by lung cancer, emphasizing the critical role of supportive care in managing the complexities of the disease and its treatments.
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The cancer supportive care drugs market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online providers. The drug stores & retail pharmacies segment accounted for the largest cancer supportive care drugs market share in terms of revenue in 2022 and is expected to maintain its lead during the forecast period. This is attributed to various factors, notably the convenience and widespread accessibility offered by these establishments. The ubiquitous presence of drug stores and retail pharmacies enhances patients' convenience, fostering their preference for these outlets.
However, the online providers segment is expected to exhibit the fastest CAGR during the forecast period. This is primarily due to the convenience and accessibility offered by digital platforms, enabling a broader outreach to diverse audiences. The surge in e-commerce and telehealth technologies amplifies the importance of online providers in the cancer supportive care drugs market forecast.
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The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest cancer supportive care drugs market share in terms of revenue in 2022 owing to several key factors including growing access to advanced medical technologies and a well-developed network of healthcare facilities. Additionally, the growth in aging population and high incidence of cancer conditions contribute to the sustained demand for cancer supportive care drugs products. Further, North America is also home to several leading pharmaceutical manufacturers, driving innovation and product availability, making it a pivotal region for cancer supportive care drugs revenue growth.
However, the Asia-Pacific region is projected to exhibit the highest CAGR in the cancer supportive care drugs market during the forecast period. This growth can be attributed to multiple factors, including the rising geriatric population and the increased prevalence of cancer disorders in the region. Furthermore, ongoing enhancements in healthcare infrastructure and a surge in initiatives aimed at raising awareness and facilitating cancer supportive care drugs use are anticipated to drive market expansion in the Asia-Pacific. These factors collectively create a favorable environment for the growth of cancer supportive care drugs market opportunity in the region.
Furthermore, a rise in research activities as well as the well-established presence of domestic companies in the region are expected to provide notable opportunities for market growth. In addition, a rise in contract manufacturing organizations within the region is expected to drive the market growth.
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Competitive analysis and profiles of the major players in the cancer supportive care drugs market include Novartis AG, Johnson & Johnson, Amgen Inc., Baxter International Inc., F. Hoffmann-La Roche AG, Helsinn Healthcare SA, Heron Therapeutics, Inc., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., and Pfizer Inc. The key players have adopted strategies such as agreement and product approval to expand their product portfolio.
Key Market Segments
Key Market Players