Progress in cancer treatment procedures, with it, has brought challenges that go beyond cure. Toxicity and morbidity are among the biggest hurdles that a cancer patient has to face while undergoing chemotherapy or radiation therapy. Host of path-breaking technological advancements have been made in the science of supportive care for treating chemotherapy induced side effects, such as bone metastasis, cancer pain, oral mucositis, chemotherapy induced neutropenia, chemotherapy induced nausea and vomiting, chemotherapy induced anemia, and various signs and symptoms associated with it. Cancer supportive care products or drugs are used in the treatment of side effects as well as various signs and symptoms associated with chemotherapy. Drugs used for the treatment of chemotherapy induced side effects belong to one of the drug classes mentioned below: non-steroidal anti-inflammatory drugs, anti-infective, anti-emetics, monoclonal antibodies, erythropoietin stimulating agents, opioid analgesics, bisphosphonates, and granulocyte colony stimulating factors.
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Globally, cancer supportive care products market is estimated to account for a market value of US$ 24,620 Mn by the end of 2015, and it is projected to witness stable growth across all global regions, due to rising incidences of cancer, leading to increasing demand for effective cancer supportive care products.
The primary growth driver for the cancer supportive care products market are the rising incidences of various forms of cancers worldwide. According to Globocan 2012, there were 14.1 Mn cancer cases estimated worldwide in 2012. Lung cancer was seen to be the most common cancer worldwide among men, accounting for nearly 17% of the total number of new cases diagnosed in 2012. Furthermore, greater effectiveness of anti-cancer drugs, such as anti-emetics drugs, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), opioid analgesics drugs, etc., has been driving the growth of the global cancer supportive care products market over the last few years. These drugs help prevent side-effects of cancer treatment on the patient, due to which adoption rate of these cancer supportive care drugs has been on the rise.
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Manufacturers of cancer supportive care products are more focused on innovation and development of new drugs to maintain a competitive advantage in the market. Many manufacturers have introduced various new drugs for the treatment of cancer and for therapeutic approaches, including preventive vaccines and cancer supportive care products. Over the last two years, 21 new molecular entities have been launched. These new medicines have increased the possibility of treating cancer, leading to more combination therapies and additional lines of therapy.
The rise in overall healthcare expenditure is also expected to contribute to the overall growth of the cancer supportive care products market in the coming years. Healthcare expenditure in the U.S. is projected to grow at an average annual rate of 5.8% during the forecast period. By 2022, healthcare spending in the country is projected to account for around 19.9% of its GDP. This is expected to boost the overall healthcare spending by patients suffering from cancer in the country.
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Globally, the market in North America is expected to expand at the strongest CAGR in terms of value throughout the forecast period. The U.S. market in North America is estimated to witness a single digit growth during the forecast period. Higher healthcare spending and rising number of initiatives by the government to improve access to various drugs and increase adherence, along with direct-to-consumer marketing in the U.S., are factors that are expected to continue to further drive demand for the cancer supportive care products and, thus, lead to standardization of the market in the region. Currently, erythropoietin stimulating agents segment dominates the region in terms of drug class popularity. However, cost issues and lack of reimbursement policies are expected to slightly hamper the growth of the market in North America during the forecast period.
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