Cancer supportive care is the care offered to the patients who are suffering from different types of cancer. Supportive care is intended for improving the quality of life of cancer patients.
The global cancer supportive care products market was valued at US$ 27,244.1 Mn in 2019 and is forecast to reach a value of US$ 40,884.0 Mn by 2027 at a CAGR of 4.6% between 2020 and 2027.
Increasing prevalence of cancer, increasing research and development activities and availability of effective cancer supportive care products are expected to drive the growth of the global cancer supportive care products market during the forecast period.
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According to the World Health Organization, in 2020 approximately 10 million deaths were reported due to cancer globally. Thus, rising prevalence of cancer across the globe is expected to drive the market growth.
Moreover, availability of effective cancer supportive care products is anticipated to boost the growth of the global cancer supportive care products market. According to a study presented at the Digital International Liver Congress 2020, the European Association for the study of liver, the immunotherapy drugs Stivarga (regorafenib) and Opdivo (nivolumab) can be used as a second-line treatments to improve the survival rate of patients with hepatocellular carcinoma (HCC).
Furthermore, increasing research and development activities for the development of novel cancer therapeutics is expected to drive the global cancer supportive care products market. For instance, according to the National Cancer Research Institute (NCRI), in 2018-2019 the funding by NCRI partners for cancer research funding reached around US$ 750 million.
Global Cancer Supportive Care Products Market: Segment Analysis
Erythropoietin Stimulating Agents segment held the dominant position in the global cancer supportive care products market in 2019, which accounted for 24.7% market share. This segment is projected to hold largest market share owing to increasing research and development activities and product approvals are anticipated to assist the segment growth during the forecast period.
Global Cancer Supportive Care Products Market: Restraints
Higher cost associated with Research and Development is expected to hinder the growth of the global cancer supportive care products market.
Impact of COVID-19:
The COVID‐19 has impacted the cancer supportive care. For instance, the French Society of Pediatric Oncology, in September 2020, reported that, in a survey, out of the 12 centers that managed COVID‐19 patients, eight centers postponed oncologic treatment because of suspected or confirmed COVID-19 infection. Moreover, out of 12 centers, 8 centers (28.6%) complained about absenteeism of health care providers due to infection.
Global Cancer Supportive Care Products Market: Competitive Landscape
Major players operating in the global cancer supportive care products market are Johnson & Johnson Private Ltd., Amgen Inc., Merck, Baxter International, Novartis AG, Fagron, Teva Pharmaceutical Industries Ltd., Hoffmann-La Roche Ltd., G1 Therapeutics Inc., Acacia Pharma, Kyowa Hakko Kirin Co., Ltd., and EMD Serono,
Global Cancer Supportive Care Products Market: Key Developments
Major players in the market are focused on presenting new portfolio in order to strengthen their market share. For instance, in September 2020, Merck Group, a Germany-based company, announced that over 30 abstracts would be presented at ESMO Virtual Congress 2020 from September 2019-2021.
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Segmentation
Global Cancer Supportive Care Products Market Taxonomy
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By Drug Class:
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Anti-Infective
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Monoclonal Antibodies
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Opioid Analgesics
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Non-steroidal Anti- Inflammatory Drugs
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Bisphosphonates
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Erythropoietin Stimulating Agents
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Granulocyte Colony Stimulating Factor
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Anti-Emetics
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By Indication:
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Breast Cancer
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Lung Cancer
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Liver Cancer
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Prostate Cancer
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Leukemia
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Melanoma Cancer
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Bladder Cancer
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Ovary Cancer
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Others
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By Distribution Channel:
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Hospital Pharmacies
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Retail Pharmacies
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Compounding Pharmacies
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By Region:
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North America
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Latin America
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Asia Pacific
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Middle East
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Africa
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