Chemotherapy is a treatment which uses drugs in killing cancerous cells in the body. The goal of the treatment can be for curative, palliative, and control purposes. It is also colloquially known as ‘chemo’. The global chemotherapy market report by Market Research Future (MRFR) looks at the various types of cancers and the impact of chemotherapy on their treatment for the period of 2019 to 2024 (forecast period).
The global chemotherapy market size is estimated to balloon to USD 56,491.59 million by 2024. It can exhibit a stupendous growth rate of 11.50% during the forecast period. Huge prevalence of cancer, large allocation of funds for research on cancer, and introduction of new reimbursement and medical insurance schemes are major drivers of the market. Patent expiry of drugs, public awareness of combination therapies, and government campaigns are other key factors expected to facilitate market growth.
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The global chemotherapy market is segmented into drug class, route of administration, indication, and end user.
On the basis of drug class, the market is segmented into topoisomerase inhibitors, alkylating agents, mitotic inhibitors, antitumor antibiotic, and antimetabolites. The alkylating agents segment is expected to lead the market and score a substantial CAGR of 11.83% to reach USD 20,360.32 million by the end of 2024.
On the basis of route of administration, the market is segmented into intraperitoneal, intravenous, intraventricular/intrathecal, subcutaneous, oral, intra-muscular, intravesicular, and topical. Intravenous accounted for the largest market share. However, the oral segment is expected to grow at the fastest CAGR of 11.95% during the forecast period.
On the basis of end user, the market is segmented into hospitals & clinics, specialty centers, and others.
Geographically the chemotherapy market covers the potential of the treatment across the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
The Americas accounted for 41.04% share in 2018. It can notch a CAGR of 10.88% during the assessment period with North America accountable for the growth spurt. The large number of cancer cases, availability of advanced treatment, and attractive medical reimbursement schemes can fuel the Americas chemotherapy market growth.
The Europe chemotherapy market can exceed a valuation of USD 18,292.73 million by 2024. Rise in the number of cancer cases, the increase in healthcare expenditure, and government awareness campaigns can have an indelible impact on the regional market. Germany and France are the biggest revenue getters of the market.
APAC is expected to showcase growth at a rapid clip owing to increased funding in China and India. The aging population and demand for advanced treatment methods can influence the regional market growth. Although the MEA region accounts for the lowest market share, the rise in the elderly population can amp up the chemotherapy treatments in the region.
Eli Lilly and Company, GlaxoSmithKline PLC, Novartis AG, Merck & Co. Inc., Johnson & Johnson Services Inc, Bristol-Myers Squibb Company, Celgene Corporation, Pfizer Inc., Sanofi S.A., and F. Hoffmann-La Roche Ltd are notable players of the global chemotherapy market. The market is a mix of large and small startup aiming to disrupt the market through new drugs and their compatibility with chemo. In addition, investments are at an all-time high in clinical trials with the success of the drugs extending the survival line of patients. The aim to bring down the cost of chemotherapy drugs will also be pivotal in determining the new leader of the market in the coming years.
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