Chemotherapy market is anticipated to reach USD 145,05 Million by 2030 at 7.50% CAGR during the forecast period 2022-2030.
Chemotherapy is a process in medical science which is extensively used as a treatment for cancer. Rising prevalence if cancer is fueling demand for chemotherapy globally. Rising oncology expenditure is projected to boost the growth pattern of the chemotherapy market in the years to come. In addition, the aids provided by governments and organizations for making the process more accessible to underprivileged class is poised to have a favorable influence on the growth trajectory of the market over the next couple of years.
The easy reimbursement policies offered by the insurance companies is anticipated to favor the expansion of the chemotherapy market across the assessment period. In addition, the growing research development for making the process more effective is prognosticated to accelerate revenue generation of the market across the projection period. Other factors such as drug patent expiry, rising awareness, government initiatives, etc. are anticipated to catapult the chemotherapy market on upward trajectory.
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Segment Analysis
The Global Chemotherapy Market has been segmented on the basis of drug class, indication, route of administration, end user, and region. On the basis of drug class, the market has been divided into alkylating agents, antimetabolites, mitotic inhibitors, antitumor antibiotic, and topoisomerase inhibitors. The alkylating agents segment held the majority market share in 2018 and anticipated to be the fastest growing, followed by the mitotic inhibitors segment.
On the basis of indication, the market has been divided into lung cancer, breast cancer, colorectal cancer, prostate cancer, stomach cancer, leukemia, lymphoma, and ovarian cancer. The lung cancer segment accounted for the larger market share in 2018. However, the breast cancer segment is expected to exhibit higher CAGR during the forecast period.
On the basis of route of administration, the market has been divided into intravenous, oral, subcutaneous, intra-muscular, intravesicular, topical, intraperitoneal, and intraventricular/intrathecal. The intravenous segment accounted for the larger market share in 2018. However, the oral segment is expected to exhibit higher CAGR during the forecast period.
On the basis of end user, the market has been divided into specialty centers, hospitals clinics, and others. The specialty centers segment accounted for the larger market share in 2018 and expected to exhibit higher CAGR during the forecast period.
Market Players
Market Research Future (MRFR) recognizes Johnson Johnson Services Inc (US), GlaxoSmithKline PLC (UK), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Pfizer Inc. (US), Merck Co. Inc. (US), Sanofi S.A. (France), Celgene Corporation (US) and Bristol-Myers Squibb Company (US) as the key players in the global chemotherapy market.
Regional Analysis
Geographically, the global chemotherapy market has been segmented into the Americas, Europe, Asia-Pacific, and Middle East Africa. As per MRFR analysis, the Americas was the largest market for chemotherapy in 2018 and is expected to remain dominant during the review period. Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period. The increasing prevalence of cancer is a major driving factor for the growth of the chemotherapy market in Europe. Germany accounted for the largest market share of 27.07% in 2018 and projected to register a CAGR of 11.45% during the forecast period.
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Key Findings of the Study:
- The Global Chemotherapy Market is projected to reach over USD 56,491.59 million by 2024 at an 50% CAGR during the review period of 2019 to 2024.
- Americas accounted for the largest market share with the US being the major contributor to the growth of the market.
- The breast cancer indication segment is projected to register the highest CAGR of 11.94% during the forecast period.
- Key manufacturers are adopting geographic expansions, corporate acquisitions, and product launches as growth strategies.
- Chemotherapy-induced myelosuppression is the most common dose-limiting and potentially fatal complication of cancer treatment.
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