Global Cancer Chemotherapy Market Size is estimated to be reach at USD 106 billion by 2030, with a CAGR of 11.5% over the forecasting years of 2022-2030, as per the Acumen Research and Consulting
Cancer Chemotherapy Market Report Key Highlights
- Global cancer chemotherapy market revenue was worth USD 41 Billion in 2021, with a 11.5% CAGR from 2022 to 2030
- North America cancer chemotherapy market is projected to lead with more than 47% market share
- According to CDC, around 650,000 cancer patients receive cancer chemotherapy each year in the US
- By end user, hospital segment attained more than 50% of overall market share
- According to the study, the number of cancer survivors is expected to rise by 24.4% by 2032, reaching 22.5 million
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|Market||Cancer Chemotherapy Market|
|Cancer Chemotherapy Market Size 2021||USD 41 Billion|
|Cancer Chemotherapy Market Forecast 2030||USD 106 Billion|
|Cancer Chemotherapy Market CAGR During 2022 – 2030||11.5 %|
|Cancer Chemotherapy Market Analysis Period||2018 – 2030|
|Cancer Chemotherapy Market Base Year||2021|
|Cancer Chemotherapy Market Forecast Data||2022 – 2030|
|Segments Covered||By Indication, By Drug Class, By Route of Administration, By End-User, And By Geography|
|Cancer Chemotherapy Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Bristol-Myers Squibb Company, Celgene Corporation, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline PLC, Johnson & Johnson Indication Inc, Merck & Co. Inc., Novartis AG, Pfizer Inc., and Sanofi S.A.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The rising global number of cancer patients is essentially fueling the expansion of the cancer chemotherapy market. Cancer was still the second largest cause of mortality worldwide in 2018, accounting for approximately 9.6 million fatalities. Cancer accounts for around one-sixth of all deaths worldwide. In accordance with WHO projections, roughly 70% of cancer deaths occur in poor and middle-income countries in 2018. According to WHO data, tobacco use is considered one of the most significant risk factors for developing cancer, accounting for around 22% of cancer cases in 2018.
Chemotherapy is a kind of treatment for cancer in which medications are employed to eradicate a large number of rapidly developing cells present in the body. Chemotherapy is effective in eliminating cancer cells within the body, slowing cancer progression, as well as shrink tumors. Chemotherapy can reduce the number of cancer cells found in the body, halt the growth of the disease, and decrease tumors.
Global Cancer Chemotherapy Market Dynamics
The rise in the prevalence of various cancers and the frequency of multiple cancer illnesses, as well as the acceptance of advanced therapies and the global elderly population, is driving the expansion of the cancer chemotherapy market. Furthermore, the rise in pediatric cancer and early tumor screening contribute to the expansion of the cancer chemotherapy market. Another crucial component impacting the cancer chemotherapy market’s growth rate is rising healthcare expenditure, which aids in the improvement of its infrastructure. Furthermore, numerous government organizations intend to improve healthcare systems by boosting financing, which would have an impact on market trends. Also, the growing elderly population and increased demand for more advanced cancer therapies will drive growth in the chemotherapy medication market. Additionally, rising chemotherapy awareness, as well as an increase in the number of patients having chemotherapy and radiotherapy treatments, are expected to boost the market’s growth rate.
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The global cancer chemotherapy market has been segmented by Acumen Research and Consulting based on indication, route of administration, drug class, end-user, and geography. Based on indication, the industry can be divided into lung cancer, breast cancer, colorectal cancer, prostate cancer, stomach cancer, lymphoma, leukemia, ovarian cancer, and others. The route of administration category is even further classified into oral, subcutaneous, intravesicular, intravenous, intramuscular, intraperitoneal, intraventricular/intrathecal, topical, and others. The drug class types are listed as alkylating agents, antitumor antibiotic, antimetabolites, mitotic inhibitors, topoisomerase inhibitors, and others. Additionally, the end-user of the cancer chemotherapy industry include hospitals & clinics, specialty centers, as well as others including ambulatory surgical centers.
Global Cancer Chemotherapy Market Regional Outlook
The global cancer chemotherapy market is divided into several geographic regions: Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America held the largest revenue share (%) in the worldwide cancer chemotherapy market in 2021, and the region is also expected to develop at the fastest rate between 2022 and 2030. The presence of a number of the region’s major corporations, such as Johnson & Johnson Services Inc, Pfizer Inc., Eli Lilly and Company, Merck & Co. Inc., Celgene Corporation, as well as Bristol-Myers Squibb Company are also contributing to the regional market value.
According to the National Cancer Institute (United States National Institutes of Health), lung, prostate, & colorectal cancers are expected to account for 43% of all malignancies diagnosed in males by 2020. Furthermore, the three most prevalent malignancies in women are lung, breast, and colorectal, which accounted for about 50% of all new cancers in the same year. Before January 2019, approximately 16.9 million cancer victims lived in the United States. By 2030, the total number of cancer patients is expected to reach 22.2 million.
According to the cancer chemotherapy market analysis, Asia-Pacific and its major economies are expected to develop at the quickest rate 2022 to 2030. The growing investment in the industry is essentially supporting the value of the regional market. Due to increased investment in the region, the fast-rising economies of India and China are the biggest revenue contributors. Rapid population growth and growing urbanization are increasing the volume of cancer sufferers in the region, which is driving market expansion.
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Cancer Chemotherapy Market Players
Some of the leading competitors are F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Eli Lilly and Company, Merck & Co. Inc., Johnson & Johnson Services Inc, Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Celgene Corporation, and Sanofi S.A. among others. To strengthen their position in the industry, cancer chemotherapy market companies have announced acquisitions and mergers collaborations and partnerships, and the development of new products. Major firms are also expanding into new markets with modern technology in order to obtain a competitive advantage.
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