Chemotherapy is a part of cancer treatment, wherein drugs are used to destroy the mass of cells rapidly growing in the body. Chemotherapy plays an important role in lowering the cancer cells in the body, reducing the progression of cancer, and shrinking the tumor. Chemotherapy prepares the body for further radiation or surgical treatment in order to eliminate the cancer. Chemotherapy is usually recommended in combination with surgery, radiation, or hormone therapy. Demand for chemotherapy drugs is projected to rise owing to increase in cancer incidence. According to the World Health Organization (WHO), cancer is considered to be the second leading cause of death globally, with an estimated 9.6 million deaths in 2018. Moreover, one third of cancer deaths is primarily due to alcohol abuse, tobacco, low fruit & vegetable intake, and lack of physical activity. According to the WHO, the most common cancer types were lung and breast in 2018, accounting for 2.09 million cases.
Rise in prevalence of cancers such as breast, lung, prostate, leukemia, and lymphoma; increase in the geriatric population, and surge in health care expenditure by governments boost the growth of the global chemotherapy drugs market. Increase in investment in the research & development of anti-cancer drugs and rise in demand for advanced cancer drugs also augment the global market. Increase in awareness about cancer and its treatment and early diagnosis are also likely to propel the global market. Increase in cancer incidence and rise in awareness about chemotherapy are the major drivers of the market in developing countries. However, high cost of cancer treatment acts as a restraint for patients especially in the developing countries. In some countries, unfavorable reimbursement policies for chemotherapy drugs is likely to hamper the growth of the market during the forecast period.
The global chemotherapy drugs market can be segmented based on drug class, indication, route of administration, end-user, and region. In terms of drug class, the chemotherapy drugs market can be classified into alkylating agents, antimetabolites, anti-tumor antibiotics, topoisomerase inhibitors, mitotic inhibitors, and others. Based on indication, the global chemotherapy drugs market can be categorized into breast cancer, leukemia, lymphoma, lung cancer, skin cancer, prostate cancer, and others. In terms of route of administration, the market can be divided into oral, intravenous, topical, and others. Topical chemotherapy is used for skin cancer. Based on end-user, the global chemotherapy drugs market can be classified into hospitals, cancer centers, and others.
In terms of region, the global chemotherapy drugs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017, and the trend is projected to continue during the forecast period. This is owing to rise in cancer patients, surge in health care expenditure, and increase in need of chemotherapy treatment in the region. Moreover, advanced health care facilities and developed health care infrastructure are the key factors boosting the growth of the chemotherapy drugs market in the U.S. Rise in incidence of cancer is expected to drive demand for chemotherapy drugs in North America. According to the American Cancer Society, 1.7 million new cancer cases are expected to be diagnosed in the U.S. in 2018, with 609,640 deaths in the same year. Prevalence of cancer in the U.S. is high owing to large geriatric population. The risk of cancer increases with age. According to the American Cancer Society, in the U.S., 87% of cancers is diagnosed in elderly people.
The chemotherapy drugs market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Rise in health care expenditure, increase in incidence of cancer, and government initiatives are likely to drive the chemotherapy drugs market in the region. Additionally, increase in geriatric population, demand for quality cancer treatments, and availability of new cancer drugs are projected to propel the market in the region. Moreover, awareness about early diagnosis and availability of skilled oncologists are factors contributing to the growth of the chemotherapy drugs market in Asia Pacific.
Major players operating in the global chemotherapy drugs market include Sanofi, Boehringer Ingelheim GmbH, Novartis AG, Pfizer, Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, GlaxoSmithKline plc, AstraZeneca, Teva Pharmaceuticals Industries Ltd., F. Hoffmann-La Roche Ltd, Merck & Co., Inc., Celgene Corporation, Amgen, Inc., Bayer AG, and Takeda Pharmaceutical Company Limited.
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