According to the latest report published by Credence Research, Inc. “Cancer Supportive Care Market (Therapeutic Area: Oral Mucositis and Dry Mouth, Chemotherapy Induced Nausea and Vomiting, Cancer Pain, Chemotherapy Induced Anemia, Chemotherapy Induced Neutropenia, Bone Metastases; Cancer Type: Lung Cancer, Liver Cancer, Breast Cancer, Leukemia, Prostate Cancer, Ovarian Cancer, Bladder Cancer, Others; Sales Channel: Hospital Pharmacies, Retail Pharmacies, Compounding Pharmacies): Growth, Future Prospects and Competitive Analysis, 2016-2024,” the cancer supportive care market was valued at US$ 22,833.4 Mn in 2015, and is expected to reach US$ 34,214.7 Mn by 2024, expanding at a CAGR of 4.4% from 2016 to 2024.
Browse the full report Cancer Supportive Care Market: Growth, Future Prospects and Competitive Analysis, 2016-2024 at http://www.credenceresearch.com/report/cancer-supportive-care-market
As the prevalence of cancer is on perpetual growth, the corresponding rise in quality of cancer care has resulted in emergence of treatments such as chemotherapy and radiation therapy. However, such cytotoxic treatment procedures also have brought a range of side effects that interfere with seamless treatment outcomes and quality of life of the patients. This has led to emergence of cancer supportive in order to improve treatment outcomes by efficiently managing side-effects. Several drugs have been successfully commercialized to treat a host of symptoms such as chemotherapy induced anemia, nausea and vomiting, neutropenia, and others.
Continuous rise in incidence of cancers of all forms will be the most prominent driver supporting the demand for cancer supportive products. Moreover, rising effectiveness and potency of novel cancer drugs have brought with them a range of side-effects that interfere with the overall wellbeing and quality of life of the patients; this will further drive the demand for more novel supportive care drugs. In addition, auxiliary factors such as growing awareness among patients and caregivers and improving reimbursements for cancer treatments, particularly in the developing countries will open additional avenues in the untapped markets of Asia Pacific and Middle East and Africa. Furthermore, consistent innovation in supportive care drugs and their rapid commercialization with competitive prices will serve as a potential opportunity for the manufacturers of cancer supportive care products in the international markets.
Among the major cancer types considered in this study, lung cancer remains the most prominent cancer type where the demand for supportive care drugs is the highest. Higher incidence of the disease remains the major driver supporting the demand for cancer supportive care drugs in this segment. On the other hand, phenomenal rise in the incidence of breast cancer across all geographies, and improving survival rates render the fastest growth rate to breast cancer segment through the forecast period.
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Based on geographical distribution, North America is the largest market for cancer supportive care products. Domicile of several major drug manufacturers in the U.S. along with best in class reimbursement facilitate the dominance of North America on the global front. Additionally, significant rise in incidence of all forms of cancer in emerging economies of Asia Pacific, and growing commercialization of novel cancer treatments in the region make Asia Pacific the fastest developing regional market for cancer supportive care drugs.