With growing prevalence of cancer, the demand for cancer treatments, such as chemotherapy has also been consistently on the rise since the past decade. However, radiation therapy brings with it a host of side effects that are challenging for cancer patients to face while they undergo the course of treatment. While the cancer treatment realm is tremendously progressing, the incidences of side effects are increasing as well, which are addressed by cancer supportive care. The advent of technology in cancer supportive care has enabled to treat different signs and symptoms following the chemotherapy procedure, in addition to chemotherapy-induced vomiting, nausea, neutropenia, and anemia.
The global market for cancer supportive care products is currently thriving at a sound pace and is anticipated to see steady growth over the next few years. In 2016, the global cancer supportive care products market will possibly attain a value of over US$ 25.0 Bn, which may ramp up by 2021 end to US$ 29.87 Bn. Burgeoning need for effective supportive care products will continue to drive the market during 2016-2021.
Prominence of Cancer Incidences Spurs Adoption of Supportive Care
Pronounced incidences of different types of cancers will remain a primary factor driving the demand for quality supportive care. In addition, higher effectiveness of available anti-cancer drugs and a wide range of side-effects of various cancer treatments collectively support the market for cancer supportive care products on a global basis. The recent past has been observing increasing adoption of cancer supportive care drugs in order to deal with adverse effects of anti-cancer drugs. This will continue to provide a strong impetus to the demand for cancer supportive care products.
Increasing Availability of Supportive Care Products and Rising Healthcare Spending Favour Market Growth
Increasing awareness about the availability of supportive care products is expected to play a key role in promoting cancer supportive care products, especially in developing countries. Moreover, several governments have been proactively amplifying their healthcare expenditure, which is another driver the market growth. Consistent R&D activities related to cancer treatment and cancer supportive care are also foreseen to collectively fuel the market growth over the next few years.
New Product Launches Persist to Fuel Global Demand
Manufacturers are constantly focusing on developing innovative drugs and other supportive care products, such as vaccines; over 20 molecular entities have been introduced to the market recently with an aim to implement an additional, more effective therapy or a combination therapy. This is identified as a major booster to the market growth for the forecast period, 2016-2021.
Chemotherapy-induced Neutropenia Incidences Push Demand for Erythropoietin Stimulating Agents
The global cancer supportive care products market is segmented on the basis of several classes. Erythropoietin stimulating agents segment is predicted to represent the largest market share of over 26% by 2021 end. This growth is attributed to increasing prevalence of chemotherapy-induced neutropenia. Granulocyte colony-stimulating factors are expected to maintain the second largest segment, expanding at a CAGR of 4.2% over 2016-2021.
Lung Cancer Remains Leader in Terms of Disease Condition
On the basis of disease indication, there are nine segments, including lung cancer, breast cancer, prostate cancer, liver cancer, bladder cancer, leukemia, ovarian cancer, melanoma, and others. Lung cancer segment is projected to remain dominant over the forecast period with maximum market value share by 2021 end. However, breast cancer segment will witness a higher CAGR during 2016-2021.
APAC Projected for the Strongest Growth Rate, Followed by North America
By regional analysis, North America is foreseen to witness robust growth at a CAGR of 4.7% over 2016-2021, led by the U.S. Healthcare spending of the U.S. is estimated to rake in at an average rate of 5% over the next few years. This will be a strong factor bolstering the existing expenditure of cancer-inflicted patients across the country. Europe, the second most attractive market, will possibly capture around 22% share of the global market by 2021 end. Asia Pacific is likely to witness the highest CAGR, attributed to improving healthcare infrastructure and spending. The market in Latin America will gain a slight uptick, attributed to stable growth of the cancer supportive care products market in Brazil. MEA will also exhibit improved growth over the forecast period.
A few key players competing cancer supportive care products market are Novartis Ag., Johnson & Johnson, Hoffmann LA- Roche Ltd, and Amgen Inc. Some other notable companies include Baxter International Inc, APR Applied Pharma Science Research S.A., Fagron Group BV, Teva Pharmaceuticals Industries Ltd, Kyowa Hakko Kirin Co Ltd., and Acacia Pharma Ltd.
Future Market Insights, through a newly published report, “Global Market Study on Cancer Supportive Care Products: Global Industry Analysis and Opportunity assessment 2016–2021”, offers a five-year forecast for the global cancer supportive care products market over 2016-2021. Our study demonstrates key market dynamics and developments across various regions of the country that are expected to influence the current status and future prospects of the global cancer supportive care products market. The primary objective of this report is to provide information on key drivers, restraints, opportunities, regulations, price, value chain analysis, and updates on developments in the global cancer supportive care products market, and conduct a quantitative as well as qualitative assessment of the market across various regional market segments.
To understand and assess market opportunities and trends, the global cancer supportive care products market report is categorically split on the basis of drug class, disease condition, distribution channel, and geography. The report starts with a market overview and provides market definition and analysis of the value chain, pricing, cost structure, drivers, restraints, opportunities, trends, and regulations in the global cancer supportive care products market. The sections that follow include an analysis of the global cancer supportive care products market - by drug class, disease condition, distribution channel, and region. All these sections evaluate the qualitative and quantitative aspects of the global cancer supportive care products market on the basis of various factors affecting the market. To give a brief idea of revenue opportunities on segment-basis, the report also provides shipment (KT) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period.
In the final section of the report, we have highlighted the global cancer supportive care products market structure and a detailed competition landscape with company market share and performance to provide report audiences with a dashboard view of key players operating in the global cancer supportive care products market.
For market data analysis, we have considered 2015 as the base year, with market numbers estimated for 2016 and a comprehensive forecast made for 2017–2026. To calculate market size, the report considers the weighted average price, based on product type available across key regions of the country. The forecast assesses the total revenue as well as shipment (KT) of the global cancer supportive care products market. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global cancer supportive care products market is expected to develop in the future. Critical market data – including the base number and segment splits – has been derived through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global cancer supportive care products market.
Given the ever-fluctuating nature of the global economy, we have not only conducted forecasts in terms of CAGR, but have also analysed the market based on key parameters such as year-on-year (Y-o-Y) growth rate to understand market predictability and to identify the right opportunities across the global cancer supportive care products market. We have also analysed the different segments of the global cancer supportive care products market in terms of basis point share (BPS) to understand individual segment’s relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global cancer supportive care products market. Another important feature of our report is an analysis of all the key segments in terms of absolute dollar opportunity, critical in evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective in the global cancer supportive care products market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report. Further, to understand key market segments in terms of growth and performance, we have developed a market attractiveness index to help providers identify real market opportunities in the global cancer supportive care products market.