Global Adjuvants Market: Overview
Adjuvant oncology treatment is a part of cancer therapeutics, which entails further cancer treatment after the completion of the primary treatment. Its main aim is to reduce the risk of the cancer coming back again. Adjuvant therapy includes radiation therapy, chemotherapy, targeted therapy, hormone therapy, or biological therapy. Oncologists take into consideration various factors, such as statistical evidence, before zeroing in on the suitable adjuvant therapy.
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The primary aim of adjuvant therapy is to increase chances of survival of cancer patients by eliminating the risk of cancer relapsing. It is typically provided after treatment of various kinds of cancers, such as colon, lung, prostate, breast, and others forms of gynecological cancers through oncological surgeries and adjuvant therapy. However, it is ineffective in cases of renal carcinoma and a few kinds of brain cancer.
The report presents an in-depth overview on the global adjuvants market after extensive research. It utilizes both historical and current data to predict the growth prospects in the market. By segmenting the worldwide market based on various parameters and implementing various analytical tools such as SWOT analysis and Porter’s Five Forces, the report gauges the competitive dynamics prevalent in the market.
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Global Adjuvants Market: Trends and Opportunities
The primary growth driver in the global market for adjuvant oncology treatment is the rising instances of cancer worldwide. This, alongside many positive initiatives adopted by governments and insurance companies for reimbursing the treatment cost of cancers, has provided a major fillip to the market. Further, an increasing thrust on research initiatives and efforts to uncover more maladies that could be treated with adjuvant therapy are slated to propel the market growth in the upcoming years.
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The report classifies the overall market for oncology adjuvants depending upon the applications and various types of cancers they are used to treat. By doing so, the report tries to understand where maximum opportunity lies in the market. Based on applications, for example, it segments the market for adjuvants into immunotherapy, chemotherapy, radiotherapy, and others. Based on diseases treated through adjutants, it classifies the market into sarcoma, breast cancer, Hodgkin’s lymphoma, colorectal cancer, glioblastoma, prostate cancer, lung cancer, and ovarian cancer. Breast cancer accounts for a major chunk of the revenue in the market at present and going forward, it would only up the current figures. In terms of growth rate, however, colorectal cancer will likely outshine all other segments.
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Global Adjuvants Market: Regional Outlook
Geography-wise, the report divides the market into Asia Pacific, Europe, North America, and the Rest of the World. Among them, Europe and North America are the dominant markets for adjuvants. This is because of the high prevalence of cancer in the two continents. Other factors boosting these markets are the developed healthcare facilities, favorable reimbursements policies, and the greater means of people to spend on better quality healthcare. Knowledge of the disease and its various treatments is also at the forefront of driving the growth of the two regional markets. Corroborating the fact is the finding of World Health Organization (WHO), which states that about 75% countries worldwide have reported having generally available cancer treatment services that include cancer surgery, subsidized chemotherapy and cancer centers or departments. In Europe, an impressive 90% of countries reported having these cancer treatment services generally available.
Asia Pacific follows North America and Europe in terms of market share. The emerging economies of India and China with their massive populations are major growth drivers in the region. Rising instances of cancer and rapidly developing healthcare infrastructure, coupled with the rise in medical tourism in the region, have stimulated the growth of the market so far. In the near future too, the region will exhibit promising growth on account of a flurry of research initiatives due to the availability affordable human resources and helpful government policies.
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Companies Mentioned in the Report
To present a proper assessment of the existing competition in the global market, the report has profiled some of the key companies operating in the market such as Eli Lilly Co., Amgen, Inc., BMS, Biogen, Sanofi, AstraZeneca PLC, and Pfizer, Inc. It studies the sales, revenues, market shares, and growth prospects of each of the players, besides throwing light on their key strategies.
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