New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chemotherapy Global Market Report 2023" - https://www.reportlinker.com/p06457332/?utm_source=GNW
, Bayer AG, Almatic Pharma LLC, AstraZeneca Pharmaceuticals, Astellas Pharma Inc., Puma Biotechnology Inc., Clovis Oncology, Takeda Pharmaceutical Company Limited, and Johnson & Johnson Services Inc .
The global chemotherapy market is expected to grow from $8.22 billion in 2022 to $8.94 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The chemotherapy market is expected to reach $12.08 billion in 2027 at a CAGR of 7.8%.
The chemotherapy market includes revenues earned by entities by providing corticosteroids and hormonal agents as chemotherapy drugs.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Chemotherapy refers to a treatment using drugs or medicines that kill the fast-growing cells in the body by using powerful chemicals.The drugs can be used in combination or alone for the treatment of cancer.
They are used to treat cancer, as cancer cells grow at a fast rate.
North America was the largest region in the chemotherapy market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of chemotherapy are pumps, cannulas, catheters, and other types.Pumps are chemotherapy infusion pumps that are attached to the patient and deliver a controlled number of drugs slowly into the patient’s bloodstream.
The main services involved are blood cancer, throat cancer, lung cancer, ovarian cancer, and stomach cancer by using alkylating agents, antimetabolites, anti-tumor antibiotics, topoisomerase inhibitors, mitotic inhibitors, and other drugs that are delivered through oral and intravenous routes and are used in end-users such as hospitals, research institutes, and other end-users.
The increasing cancer prevalence is expected to propel the growth of the chemotherapy market going forward.Cancer refers to a disease in which a few body cells grow uncontrollably and spread to other parts.
In chemotherapy powerful chemicals are used in combination or alone for the treatment of cancer by killing fast-growing cancer cells.In addition, increasing cancer prevalence will increase the demand for chemotherapy.
For instance, according to Globocan, a Switzerland-based provider of a worldwide database of cancer prevalence and mortality rates, in 2020 there were around 19.29 million new cancer cases globally, and the number of cancer cases in 5 years is estimated to be 50.55 million. Therefore, the increasing cancer prevalence is driving the chemotherapy market.
Innovative technology development is a key trend gaining popularity in the chemotherapy market.Major companies operating in the chemotherapy market are focused on developing new technological solutions such as using artificial intelligence and nanotechnology for real-time tracking and treatment to strengthen their position in the market.
For instance, in October 2020, ImpriMed, Inc., a US-based company that provides cutting-edge personalized medicine for pets with blood cancer diseases, launched a cutting-edge technology called "SDM4", an AI-based chemotherapy predictive system for lymphoma. The technology is uniquely designed for chemotherapy-sensitive assays via artificial intelligence (AI), which are optimized to give higher sensitivity and specificity, as well as a high positive predictive value, in just 7 days. By collecting a sample with fine needle aspiration, this technology aids in determining the type of lymphoma cancer.
In October 2021, Amgen Inc., a US-based global biotechnology company, acquired ChemoCentryx Inc. for $3.7 billion. The acquisition is expected to enhance Amgen’s inflammation and nephrology portfolios by adding ChemoCentryx’s TAVNEOS®. With the acquisition, the companies are expected to be involved in expanding and innovating advanced treatments to serve patients affected by serious diseases. ChemoCentryx, Inc., is a US-based biopharmaceutical company that treats autoimmune diseases, inflammatory disorders, and cancer.
The countries covered in the chemotherapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The chemotherapy market research report is one of a series of new reports that provides chemotherapy optical components market statistics, including chemotherapy optical components industry global market size, regional shares, competitors with a chemotherapy optical components market share, detailed chemotherapy optical components market segments, market trends and opportunities, and any further data you may need to thrive in the chemotherapy optical components industry. This chemotherapy optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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