How is the Chemotherapy Market Poised for Growth: Trends and Opportunities Through 2034
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How has the chemotherapy market grown in recent years?
In recent times, there has been a swift expansion in the size of the chemotherapy market. The market value, which stands at $34 billion in 2024, is projected to rise to $37.78 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.1%. Factors contributing to this upward trend in the historic period include heightened incidences of cancer, improvements in cancer identification methods, novel drug development, increased clinical trial activity, broader access to healthcare services, and public awareness campaigns.
How is the chemotherapy market size expected to evolve during the forecast period?
The market size of chemotherapy is predicted to experience a swift expansion in the forthcoming years. The market is projected to reach $62.22 billion by 2029, undergoing a compound annual growth rate (CAGR) of 13.3%. The anticipated growth throughout the forecast period is primarily due to factors such as incorporation of immunotherapy, endorsement of biosimilars, proliferation in emerging markets, progression in genomic profiling, advancements in supportive care, and regulatory facilitation. The key trends during the forecast period are likely to be digital health solutions, individualized treatment, ongoing research in oncology, incorporation of artificial intelligence (AI), progress in nanotechnology and administration of chemotherapy at home.
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Which key drivers are propelling the chemotherapy market’s growth?
The chemotherapy market’s growth is anticipated to be fueled by the rising incidence of cancer. Cancer is a condition characterized by uncontrolled and rampant growth of a few body cells, which eventually spread to other parts of the body. Chemotherapy, which employs potent chemicals individually or in combination to kill rapidly growing cancer cells, is a common treatment for this disease. As the incidence of cancer increases, so will the demand for chemotherapy. The American Cancer Society Inc., a non-profit health organization in the US, predicts that there will be 1.9 million new cancer diagnoses in the US in 2023, up from 1.8 million in 2020. The US is also expected to see 609,820 cancer-related deaths in 2023, a rise from the predicted 606,520 cancer deaths in 2020. Consequently, the increasing incidence of cancer is acting as a catalyst for the chemotherapy market’s expansion.
What are the market segments in the chemotherapy industry?
The chemotherapy market covered in this report is segmented –
1) By Product Type: Pump, Cannula, Catheter, Other Product Types
2) By Service: Blood Cancer, Throat Cancer, Lung Cancer, Ovarian Cancer, Stomach Cancer
3) By Drugs: Alkylating Agents, Antimetabolites, Anti-Tumor Antibiotics, Topoisomerase Inhibitors, Mitotic Inhibitors, Other Drugs
4) By Route Of Administration: Oral, Intravenous
5) By End User: Hospitals, Research Institutes, Other End Users
Subsegments:
1) By Pump: Infusion Pumps, Portable Pumps, Ambulatory Pumps
2) By Cannula: Peripheral Cannulas, Central Venous Catheters, Implantable Ports
3) By Catheter: Chemotherapy Catheters, PICC Lines
4) By Other Product Types: Safety Devices, IV Sets, Administration Sets
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Which leading companies are shaping the growth of the chemotherapy market?
Major companies operating in the chemotherapy market include GlaxoSmithKline plc, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., Merck & Co Inc., Sanofi SA, Celgene Corporation, Bristol-Myers Squibb Company, Amgen Inc., Bayer AG, Almatic Pharma LLC, AstraZeneca Pharmaceuticals, Astellas Pharma Inc., Puma Biotechnology Inc., Clovis Oncology Inc., Takeda Pharmaceutical Company Limited, Johnson & Johnson Services Inc., Mylan NV, Teva Pharmaceutical Industries Ltd., AbbVie Inc., Gilead Sciences Inc., Biogen Inc., Eisai Co. Ltd., Ipsen SA, Spectrum Pharmaceuticals Inc., Seattle Genetics Inc., Exelixis Inc., Karyopharm Therapeutics Inc., Incyte Corporation, Agios Pharmaceuticals Inc., Epizyme Inc., Blueprint Medicines Corporation, Array BioPharma Inc., BeiGene Ltd., Halozyme Therapeutics Inc., MacroGenics Inc., Immunomedics Inc., TG Therapeutics Inc., Verastem Inc.
What key trends are currently impacting the chemotherapy market’s development?
The leading firms in the chemotherapy market are strategizing for a competitive advantage by launching inventive products like chemotherapy infusion pumps. These are special devices that deliver chemotherapy medicines straight into the blood circulation via an IV line, and facilitate a controlled, slow and steady drug infusion. For example, in March 2022, Shanghai MicroPort Lifesciences Co. Ltd., a medical technology developer and manufacturer from China, acquired marketing permission from the National Medical Products Administration (NMPA) of China for their AutoEx Chemotherapy Infusion Pump. This pump is intended for either continuous or intermittent infusion of chemotherapy drugs for cancer patients. It is designed to ensure an optimal drug concentration in the bloodstream, thereby improving the efficacy of cancer therapy and minimizing side-effects. The device is equipped with a dual CPU control system and a dual power source, leading to highly accurate drug delivery. This contributes to enhanced comfort and safety of patients during chemotherapy.
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Which geographic areas are influencing the growth of the chemotherapy market?
North America was the largest region in the chemotherapy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the chemotherapy market report during the forecast period. The regions covered in the chemotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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