Key Market Dynamics:
The chemotherapy market is primarily driven by the increasing prevalence of
cancer across the world. According to the World Health Organization (WHO),
cancer is the second leading cause of death in the world. And is the cause of
approximately 9.6 million deaths in 2018. Risk factors related to lifestyle
changes such as smoking, drinking alcohol and eating foods that are not healthy
this has contributed to the dramatic increase in cancers in recent years.
Additionally, improved chemotherapy coupled with improved efficacy rates has
increased the demand for chemotherapy as the preferred option for cancer
treatment.
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Key Market Trends:
Growth in Immuno-Oncology Market: Immuno-Oncology treatments such as immune checkpoint inhibitors, which stimulate the body's immune system to fight cancer, are key trends in the market. This provides a lasting response and less toxicity than chemotherapy. Growing Demand for Targeted Chemotherapy: Targeted chemotherapy that specifically targets cancer cells with minimal loss of normal cells. This has driven its acceptance beyond traditional chemotherapy drugs.
Chemotherapy Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$10.87 billion |
|
Estimated Value by 2031 |
$18.35 billion |
|
Growth Rate |
Poised to grow at a CAGR of 7.8% |
|
Historical Data |
2019–2023 |
|
Forecast Period |
2024–2031 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Drugs, By Cancer Type, By Route of Administration, By Distribution Channel |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
• Increasing prevalence of cancer • Increasing research and development activities |
|
Restraints & Challenges |
• High cost of chemotherapy drugs • Side effects of chemotherapy |
Chemotherapy Market Opportunity: Rising Cancer Incidence
The increasing incidence of cancer across
the world is a key driver of the chemotherapy market. According to the World
Health Organization the cancer burden will reach 19.3 million new cases and 10
million cancer deaths by 2020. The four most common cancers in 2020 were lung
cancer, breast cancer, and colon cancer. The prostate cancer as chemotherapy
remains the mainstay of cancer treatment, increasing cancer cases result in
increased demand for chemotherapy.
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Chemotherapy Market Opportunity: Pipeline Drugs and Combination Therapies
The robust pipeline of novel chemotherapy drugs and combination therapies present new market opportunities. Several pharmaceutical companies are developing targeted chemotherapy drugs with novel mechanisms of action and improved safety profiles. Combination therapies using chemotherapy with immunotherapy or other targeted drugs are also gaining popularity. This allows for higher response rates, improved outcomes and new treatment opportunities in difficult-to-treat cancers. The approval and commercialization of these pipeline drugs will boost the chemotherapy market during the forecast period.
Key Market Takeaways:
· The global chemotherapy market size was valued at USD 10.87 billion in 2024 and is anticipated to witness a CAGR of 7.8% during the forecast period 2024-2031. The high growth is attributed to the rising global cancer burden.
· On the basis of type, the alkylating agent’s drug segment held the largest share of 31.9% in 2024 due to their wide application in several cancer types. Within this segment, the cisplatin sub-segment dominated the market.
· By cancer type, lung cancer was the highest revenue generator in 2024. Chemotherapy remains important in the treatment of advanced or metastatic lung cancers.
· Regionally, North America held the major revenue share of 39.2% in 2024 owing to high cancer incidence, developed healthcare infrastructure and availability of advanced treatment options.
Key Players Insights:
GSK plc., Bayer AG, Pfizer Inc., Bristol-Myers Squibb Company, Johnson & Johnson, and Merck & Co. These major players are focused on developing novel chemotherapy drugs and combination therapies.
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