Pune, India, Jan. 20, 2022 (GLOBE NEWSWIRE) -- The global cancer cachexia market size is estimated to be worth of USD 2.35 Billion in 2021 at a CAGR of 5.7% during the forecast period, as per a detailed market study by Quince Market Insights.
Cancer cachexia is a wasting syndrome condition, is characterized by weight loss, anorexia, asthenia, and anaemia. The pathogenicity of this disease is multifactorial due to a complex interplay between tumour and host variables. Cachexia clinical symptoms are used as prognostic indicators in cancer patients. This is due to growing geriatric populations in countries such as Japan and China, as well as increased awareness of cancer supportive care among people and healthcare professionals. The rising prevalence and incidence of cancer in this region will lead to the expansion of the global cancer cachexia market.
The primary driving factor of the market include the rising frequency of cachexia, particularly among the elderly in countries such as North America, Europe, and Japan. The availability of pipeline medicines in phase 3 clinical trials, which are expected to be available in the market in the next 2-3 years, is also expected to propel the cancer cachexia market.
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Manufacturers of cancer cachexia medicines are discouraged from investing in the market due to strict regulatory requirements and the lengthy food and drug administration (FDA) approval process, which may stymie the industry's long-term growth.
The side effects of cancer medications include both therapeutic and non-therapeutic effects. As a result, it's critical to monitor side effects closely to ensure they don't outweigh the therapeutic benefits. As a result, the rules are stringent and, at times, difficult for manufacturers to follow. As a result, the market for cancer cachexia medicines is hampered by stringent regulatory requirements.
Impact of Covid-19 on Global Cancer Cachexia Market
The COVID-19 pandemic had an impact on the cancer cachexia industry, as hospitals and healthcare facilities were drastically reduced as a result of global social distancing efforts. The COVID-19 pandemic also had an impact on the global economy, as it had a significant impact on general hospital treatment for non-COVID-19 patients in hospitals all over the world.
Global Cancer Cachexia Market, by Therapeutics
Based on therapeutics, the cancer cachexia market is divided into progestogens, corticosteroids, combination therapy, others. Among these segments, combination therapy captures the largest market share in global cancer cachexia market in 2021 and is anticipated to remain largest till the forecast period.
The growth is attributed due to the majority of the cancer cachexia market was accounted for by combination therapy. This is due to factors such as being the most effective and safest option for the palliative treatment of cancer cachexia, which will aid the category's market dominance.
Instead of curing, combination therapies focus on symptom relief and relieving patient and family distress. Moreover, with the use of new pharmacological agents such as megestrol acetate, medroxyprogesterone, ghrelin, and omega-3 fatty acid, Combination Therapies are expected to be the fastest growing category.
Global Cancer Cachexia Market, by Mechanism of Action
Based on mechanism of action, the market is divided into appetite stimulators and weight loss stabilizers. Among these segments, weight loss stabilizers captures the largest market share in global cancer cachexia market in 2021 and is anticipated to remain largest till the forecast period.
The growth of segment is attributed due to cystic fibrosis, tissue wasting, wasting syndrome, and inflammatory cytokine production are all symptoms of cancer cachexia. Anorexia nervosa is an eating disorder characterized by a desire to lose weight. Preventing weight loss in cancer cachexia is critical for improving patients' quality of life.
Cancer cachexia is characterized by a poor response to antitumor therapies such as chemotherapy and radiation, as well as unrestricted muscle loss that can result in death. Hence, doctors are recommending the usage of weight loss stabilizers to prevent cancer cachexia, which is attributing the overall segments growth
Global Cancer Cachexia Market, by Distribution Channel
Based on distribution channel, the cancer cachexia market is divided into retail pharmacies, online pharmacies. Among these segments, online pharmacies captures the largest market share in global cancer cachexia market in 2021 and is anticipated to remain largest till the forecast period.
The online pharmacies market is expanding as a result of factors such as the convenience provided by the shipment of medication at a lower cost, as well as regulations encouraging the use of online pharmacies. Besides, the online pharmacies industry is expanding as a result of increased investment in small businesses.
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Global Cancer Cachexia Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Among these segments, North America captures the largest market share in global cancer cachexia market in 2021 and is anticipated to remain largest till the forecast period.
The growth of North America is attributed to the presence of a significant number of pharmaceutical companies, as well as an evolving paradigm of cancer patient care, are boosting the region's growth.
The expansion of the cancer cachexia market in the area has also been aided by advances in innovative technologies for the treatment of cancer cachexia and a robust product pipeline for wasting syndrome. People and healthcare professionals are becoming more aware of cancer supportive care. The rising prevalence and incidence of cancer in this region will propel the global cancer cachexia market forward.
Recent Developments in Global Cancer Cachexia Market
- November 2018-The National Institutes of Health (NIH) received the National Cancer Institute (NCI) a funding in November 2018 to study APX3330 again for treatment of cancer cachexia.
Some Key Findings of the Global Cancer Cachexia Market Report Include:
- The analysis includes a global cancer cachexia market study, expansions, and forecasts, along with a country-specific analysis.
- An in-depth analysis of the global cancer cachexia market comprises segment therapeutics, mechanism of action, distribution channel and regions with an analysis of trend-based insights and factors.
- Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report.
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the Global Cancer Cachexia Market.
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market.
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry.
- The research also helps understand the dynamics of the global cancer cachexia market structure by analyzing market segments and by projecting the size of the market.
- The report helps to understand the effects of COVID-19 pandemic on global cancer cachexia market.
- Some major industry players functional in the global cancer cachexia market are: Eli Lilly and Co, AEterna Zentaris Inc., Boston Biomedical, Merck & Co. Inc., Boehringer Ingelheim GmbH, Alder BioPharmaceuticals Inc.
To Find more insights on this topic, visit Quince Market Insights report titled, “Global Cancer Cachexia Market, By Therapeutics (Progestogens and Corticosteroids, Combination Therapies), By Mechanism of Action (Appetite Stimulators and Weight Loss Stabilizers), By Distribution channels (Retail Pharmacy Stores, and Online Pharmacy), By Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)” —in-depth analysis along with the table of contents (ToC).
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