New York, United States , April 12, 2024 (GLOBE NEWSWIRE) -- The Global Chemotherapy Market Size is to Grow from USD 8.6 Billion in 2023 to USD 16.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.54% during the projected period.
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Chemotherapy is the use of medicine for the treatment of cancer by killing cancer cells via inhibition of cell proliferation and tumor multiplication in the body. It cures cancer and reduces cancer symptoms which help to keep it from spreading. Targeted and immune therapy are the two types of cancer therapy using medicine (chemotherapy). Combination or multitargeted therapy is the common and superior choice over single-agent therapy. Combination chemotherapy is based on three principles of fraction kill, and glodie-coldman hypothesis. Combined modalities of chemotherapy with radiation therapy are used before surgery or curative intent in head, neck, lung, and anal cancer. The mechanism of action is attacking dividing cancer cells, damaging genetic material, and sometimes blocking chemicals that are required for dividing the cell. The drugs used in chemotherapy are alkylating agents, antimetabolites, anti-tumor antibiotics, topoisomerase inhibitors, mitotic inhibitors, plant alkaloids, corticosteroids, and miscellaneous antineoplastic to subsequently inhibit tumor growth within the cell and its environment. Along with advantages, it has disadvantages of normal cell toxicity causing normal cell death that subsequently leads to side effects like hair loss. The growing prevalence of cancer, the rising cost of healthcare infrastructure, and the support of government organizations are likely to drive the market of chemotherapy treatment. On the contrary, the requirement of high development costs, and expensive clinical trials for chemotherapeutic drugs restrain the market. Further, side effects and resistance to chemotherapeutic drugs are likely to restrain the market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Chemotherapy Market Size, Share, and COVID-19 Impact Analysis, By Drug Class (Mitotic Inhibitors, Alkylating Agents, Antimetabolites, Topoisomerase Inhibitors, and Antitumor Antibiotic), By Indication (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Stomach Cancer, Lymphoma, Leukemia, and Ovarian Cancer), By Route of Drug Administration (Intravenous, Oral, Subcutaneous, Intra-Muscular, Intravesicular, Topical, Intraperitoneal, and Intraventricular/Intrathecal), By End-User (Specialty Centers and Hospitals & Clinics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The alkylating agent segment dominates the market with the largest revenue share through the forecast period.
Based on drug class, the global chemotherapy market is segmented into mitotic inhibitors, alkylating agents, antimetabolites, topoisomerase inhibitors, and antitumor antibiotics. Among these, the alkylating segment is dominating the market with the largest revenue share through the forecast period. Alkylating agents are the most widely used anticancer drugs and are used in combination chemotherapy. The rising prevalence of cancer increasing the healthcare cost and pipeline research of alkylating chemotherapy.
The leukemia segment is witnessing significant CAGR growth through the forecast period.
Based on the indication, the global chemotherapy market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, stomach cancer, lymphoma, leukemia, and ovarian cancer. Among these, the leukemia segment is witnessing significant growth through the forecast period. The increasing cases of breast cancer raise the demand for chemotherapy. Leukemia accounted for approximately 2.5% of all new cancer incidence and 3.1% of cancer-related mortality.
The oral segment is witnessing significant CAGR growth through the forecast period.
Based on the route of drug administration, the global chemotherapy market is segmented into intravenous, oral, subcutaneous, intra-muscular, intravesicular, topical, intraperitoneal and intraventricular/intrathecal. Among these, the oral segment is witnessing significant growth through the forecast period. The oral category of chemotherapy is the largest contributor to the chemotherapy market. The pill, capsule, or liquid form of chemotherapeutic drugs is administered orally. Oral-administered drugs have greater efficacy than topically applied drugs.
The hospital & clinics segment is witnessing significant CAGR growth through the forecast period.
Based on the end-user, the global chemotherapy market is segmented into specialty centers and hospitals & clinics. Among these, the hospital & clinics segment is witnessing significant growth through the forecast period. The accessibility of precise treatment from healthcare-qualified persons and the latest technology in hospitals and clinics driving the market demand in the hospital & clinics segment. Additionally, the increasing prevalence of chronic disease especially in the geriatric population propelling the chemotherapy market.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. In 2020, about 490,875 people are suffering from leukemia in the United States. The presence of various manufacturing companies in the region drives the market. There is a rise in healthcare costs for cancer treatment in the United States due to change growth in population, according to the Medical Care Costs Associated with Cancer Survivorship in the United States article. From the assumption of constant future costs, project costs would be $208.9 billion in 2020. The market in North America is anticipated to grow as a result of the high concentration of major companies, rising FDA approvals, strategic alliances, and significant R&D investments.
Europe region is expected to grow the fastest during the forecast period. The increasing R&D spendings for chemotherapy due to the rising prevalence of cancer is expected to propel the market. According to the data provided by the International Agency, there were 4.79 million cases of cancer in the region in 2020, and it is projected to rise to 6.07 million by 2040. In the European region, Germany has the largest market share and the UK has the fastest growing market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global chemotherapy market are Pfizer Inc., Sanofi SA, Johnson & Johnson Services Inc, GlaxoSmithKline Plc., Novartis AG, Eli Lilly & Company, Merck & Co., Teva Pharmaceuticals, Celgene Corporation, Bayer AG, Bristol-Myers Squibb, Boehringer Ingelheim, Takeda Pharmaceutical Company Limited, Schering-Plough, Chemo Espana SL, and Others Key Players.
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Recent Developments
- In May 2022, Gland Pharma launched the generic cancer treatment drug Bortezomib for Injection in the US market.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global chemotherapy market based on the below-mentioned segments:
Global Chemotherapy Market, Drug Class Analysis
- Mitotic Inhibitors
- Alkylating Agents
- Antimetabolites
- Topoisomerase Inhibitors
- Antitumor Antibiotic
Global Chemotherapy Market, Indication Analysis
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Stomach Cancer
- Lymphoma
- Leukemia
- Ovarian Cancer
Global Chemotherapy Market, Route of Drug Administration Analysis
- Intravenous
- Oral
- Subcutaneous
- Intra-Muscular
- Intravesicular
- Topical
- Intraperitoneal
- Intraventricular/Intrathecal
Global Chemotherapy Market, End-User Analysis
- Specialty Centers
- Hospitals & Clinics
Global Chemotherapy Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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