Chemotherapy Drugs: Introduction
- 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. It is usually recommended in combination with surgery, radiation, or hormone therapy.
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- Demand for chemotherapy drugs is projected to rise owing to increase in cancer incidence. According to the World Health Organization (WHO), cancer is considered the second leading cause of death globally, accounting for 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.
Key Drivers of Global Chemotherapy Drugs Market
- Rise in prevalence of cancers such as breast, lung, prostate, leukemia, and lymphoma; surge in the geriatric population, and increase 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 augment the global market. Surge in awareness about cancer and its treatment and early diagnosis are also likely to propel the global chemotherapy drugs market.
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- 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.
Anti-tumor Antibiotics to be Highly Attractive Segment
- In terms of drug class, the global chemotherapy drugs market can be classified into alkylating agents, antimetabolites, anti-tumor antibiotics, topoisomerase inhibitors, mitotic inhibitors, and others
- Anti-tumor antibiotics is projected to be a highly attractive segment during the forecast period owing to high usage of these antibiotics in chemotherapy for the treatment of cancer
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Lung Cancer to be Highly Lucrative Segment
- Based on indication, the global chemotherapy drugs market can be categorized into breast cancer, leukemia, lymphoma, lung cancer, skin cancer, prostate cancer, and others
- The lung cancer segment is projected to dominate the global market owing to high prevalence of lung cancer
Intravenous to be Highly Attractive Segment
- In terms of route of administration, the global chemotherapy drugs market can be segregated into oral, intravenous, topical, and others
- The intravenous segment dominated the market in 2020, as most of the chemotherapy drugs are administered intravenously
Hospitals to be Highly Lucrative Segment
- Based on end-user, the global chemotherapy drugs market can be divided into hospitals, cancer centers, and others
- The hospitals segment dominated the market in 2020 due to increase in consultation of patients in hospitals
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North America to Offer Significant Opportunities in Chemotherapy Drugs Market
- 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
- The region’s dominance is attributed to rise in cancer patients, surge in health care expenditure, and increase in need of chemotherapy treatment. 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.
- Increase in incidence of cancer is anticipated to drive the demand for chemotherapy drugs in North America. According to the American Cancer Society, an estimated 1.7 million new cancer cases were 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.
Key Players Operating in Global Chemotherapy Drugs Market
The global chemotherapy drugs market is semi-consolidated, with the presence of international and local players. Key players operating in the global chemotherapy drugs market are:
- Boehringer Ingelheim GmbH
- Novartis AG
- Pfizer, Inc.
- Eli Lilly and Company
- Bristol-Myers Squibb Company
- GlaxoSmithKline plc
- Teva Pharmaceuticals Industries Ltd.
- Hoffmann-La Roche Ltd
- Merck & Co., Inc.
- Celgene Corporation
- Amgen, Inc.
- Bayer AG
- Takeda Pharmaceutical Company Limited
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