According to the World Health Organization (WHO), there are an estimated 18.1 million new cases of cancer registered in 2018, and about 9.6 million deaths were also recorded in 2018 which were regarded to cancer. Moreover, statistics also report an increasing prevalence of cancer over the years. This has lead to an increase in the number of patients going for cancer therapies. But, cancer therapies have been associated with many side effects. Cancer supportive care drugs are used to alleviate the side effects of cancer therapy. Hence increasing prevalence of cancer can be directly associated with the growth of this market. Rising disposable income and improved healthcare structure have also helped people to access the cancer supportive care drugs, which is also helping this market grow.
However, technological advancements in targeted therapy drugs, which have lesser side effects than traditional cancer therapy drugs, are being adopted at a faster rate. This has directly affected the growth of the cancer supportive drugs market. Other factors like side effects from cancer supportive drugs and stringent regulatory processes have also contributed as restraining factors to this market.
Key Market Trends
G-CSF is expected to register High Growth over the Forecast Period
G-CSF is a type of growth factor that helps the bone marrow to produce white blood cells to reduce the risk of infection after some types of cancer treatment. G-CSF also makes stem cells move from the bone marrow into the blood. Stem cells are the cells in the bone marrow that are responsible for the production of red blood cells, white cells and platelets.
G-CSF is administered to stimulate the bone marrow to produce stem cells and release them into the blood. The stem cells are then collected before proceeding to have high dose chemotherapy. The high dose of chemotherapy stops your bone marrow producing blood cells. Hence, the collected stem cells are used in stem cell transplant to restore the functioning of bone marrow.
As G-CSF helps to restore the functioning of the bone marrow which is essential for the production of red blood cells, white cells and platelets, the drug class is being adopted widely. Owing to these factors and increasing prevalence of cancer (as per the Center for Disease Control and Prevention, 2018), this market is expected to grow in the forecast period.
North America dominates the market
North America has one of the highest prevalence of cancer in the world. According to the National Institute of Health, the prevalence of cancer in 2018 was estimated to be 439.2 per 100,000 in the United States. According to the Canadian Cancer Society, an estimated that 206,200 new cancer diagnosed and 80,800 deaths from cancer occurred in Canada in 2017.
Although high prevalence leads to a burden on the population of the country, US and Canada have developed healthcare systems and hence spend a lot for the treatment and research in the oncology field. Hence, these countries attract a lot of market players.
Majority of the cancer supportive care drugs are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players, which has helped the market growth in these regions and has also increased competition for market share.
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