In coming years, the Global Radiation-Induced Fibrosis Treatment Industry will likely grow significantly due to several factors that will increase demand for efficient therapies. Recent market research projects that the market for radiation-induced fibrosis treatment will develop at a CAGR of 6.4% over the forecast period and reach a value of US$ 137.1 Million in 2033.
The growing incidence of cancer is a primary driving factor behind the substantial growth of the Global Radiation-Induced Fibrosis Treatment Industry. As more patients undergo radiation therapy for cancer, the incidence of radiation-induced fibrosis is also rising. This has led to increased demand for effective treatment options to manage this condition.
Likewise, the development of innovative treatments and advances in medical technology are expected to drive the growth of the radiation-induced fibrosis treatment market in the coming years. For instance, immunotherapy is becoming a popular treatment option due to its efficacy, minimal side effects, personalized approach, and long-term benefits.
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Moreover, the increasing geriatric population and favorable government initiatives are expected to create significant opportunities for the growth of radiation-induced fibrosis treatment. The growing awareness among patients and healthcare providers regarding radiation-induced fibrosis, its symptoms, and treatment options is also propelling the growth of this market.
Retail pharmacy is expected to hold the major share in the radiation-induced fibrosis treatment market as a distribution channel. The convenience of retail pharmacies, their wide distribution, and efficient logistics make them a preferred distribution channel for radiation-induced fibrosis treatments.
Overall, the radiation-induced fibrosis treatment market is poised for significant growth in the coming years, thanks to the positive market trends and the potential driving factors behind it.
Key Takeaways from Global Radiation-Induced Fibrosis Treatment Industry Study
- By drug class, Immunotherapy segment held a prominent market share of about 4% in the global market, in 2022. High preference of this segment is owed to minimal side effects of immunotherapy
- By route of administration, oral segment held a major chunk of the market at around 2% in the global market, in 2022 as they are easier for patients to comply with and can also improve patient outcomes and overall treatment success.
- By distribution channel, retail pharmacies held a market share of around 8% in 2022 owed to their easy accessibility by patients.
- North America dominated the global market with U.S. contributing around US$ 20.4 Million in 2022.
“Rigorous Research and Development Efforts Undertaken by the Manufacturers to Innovate Novel Methods and Treatment Approached for the Fibrosis Treatment May Provide Significant Growth Opportunity for Radiation Induced Fibrosis Treatment Market over the forecast period,” says an analyst of Future Market Insights.
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Global Radiation-Induced Fibrosis Treatment Industry Competition
Key manufacturers in the Global Radiation-Induced Fibrosis Treatment Industry employ a range of strategies to gain a competitive edge and increase their market share. These strategies include developing new and innovative drugs, acquisitions and expansions, strategic collaborations, pricing strategies, and regulatory compliance.
- In June 2021, Bayer AG announced the acquisition of Vividion Therapeutics for up to $2 billion, expanding its oncology portfolio with Vividion’s innovative small molecule drug discovery platform, including radiation-induced fibrosis treatments.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Global Radiation-Induced Fibrosis Treatment Industry in its latest study, presenting a historical demand assessment of 2017 – 2022 and projections for 2023 – 2033. The global radiation-induced fibrosis treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the radiation-induced fibrosis treatment market by drug class – (corticosteroids, anti-fibrotic drugs, immunotherapy, and immunoglobulin), route of administration – (oral, injectable, and topical), distribution channel – (hospital pharmacies, retail pharmacies, drug stores, and online pharmacies), across seven key regions of the world.
Global Radiation-Induced Fibrosis Treatment Industry Key Companies Profiled
- Boehringer Ingelheim
- Pfizer Inc.
- Novartis AG
- GlaxoSmithKline plc
- Bristol Myers Squibb Company
- AstraZeneca plc
- F. Hoffmann-La Roche Ltd.
- Merck & Co., Inc.
- Johnson & Johnson
- Eli Lilly and Company
- AbbVie Inc.
- Sanofi SA
- Takeda Pharmaceutical Company Limited
- Amgen Inc.
- Mylan N.V.
- Bayer AG
- Celgene Corporation (Bristol Myers Squibb)
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Key Market Segments Covered in Global Radiation-Induced Fibrosis Treatment Industry Analysis
By Drug Class:
- Corticosteroids
- Anti-fibrotic Drugs
- Immunotherapy
- Immunoglobulin
By Route of Administration:
- Oral
- Injectable
- Topical
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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