The fight against cancer is complex, and managing treatment side effects is crucial. The Radiation-Induced Myelosuppression Treatment Market is experiencing steady growth as a result. This market focused on addressing a common side effect of radiation therapy, is currently valued at USD 2.9 billion in 2022, according to leading market research firm Future Market Insights (FMI).
Looking ahead, a promising Compound Annual Growth Rate (CAGR) of 3.1% is projected over the next six years, with the market set to exceed USD 3.5 billion by 2028. This growth trajectory reflects the increasing focus on improving the quality of life for cancer patients undergoing radiation treatment.
This remarkable expansion is driven by several factors, notably the rapid improvement in healthcare infrastructure and the evolving reimbursement scenario. These factors have become pivotal boosters for the healthcare industry, particularly in developing regional markets.
Radiation therapy has been a significant part of cancer treatment and the consistently high success rate associated with radiotherapy is projected to further push demand for radiation-induced myelosuppression treatment worldwide.
Neutropenia is foreseen to generate maximum demand for radiation-induced myelosuppression treatment, whereas injectables are identified to hold a substantial share in the total market value, based on the route of administration of radiation-induced myelosuppression treatment. Thrombocytopenia and anemia are likely to present lucrative opportunities for radiation-induced myelosuppression treatment providers.
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The report tracks key factors driving revenue growth of the market –
- Increasing prevalence of cancers
- Early diagnosis, promises improved chances of positive outcomes
- Fostering R&D funds supporting cancer research
- Strong product pipeline
- Bolstering adoption of chemo-radiotherapy in cancer treatment
Against the backdrop of patent expiry, a majority of market leaders are shifting their focus to the expansion of the product pipeline of a wide range of innovative formulations, likely to shape the radiation-induced myelosuppression treatment landscape.
- Myelo001 by Myelo Therapeutics GmbH recently received FDA approval as an orphan drug to be used in the ARS (acute radiation syndrome) treatment.
- Mylan NV and Pfizer Inc. also received FDA approvals for their recently launched biosimilars – Epogen Neupogen, and Neulasta respectively.
Patent expiry of originator biologics formulations is creating investment opportunities in biosimilar production – for the operators in the radiation-induced myelosuppression treatment landscape. As there is a considerable cost difference of around 20% between originator biologics and biosimilars, patients are inclined more towards an economical means of treatment, thereby fueling the scope of penetration of radiation-induced myelosuppression treatment in coming years.
Backed by a majority of established players housing strong bases across North America, especially the US, the report indicates a steady growth outlook for the Global Radiation-Induced Myelosuppression Treatment Industry in the region. North America will reportedly continue to account for over 65% share of the global market value.
New product launches currently mark the top developmental strategy adopted by leading companies competing in the Global Radiation-Induced Myelosuppression Treatment Industry. A majority of key players are also identified to focus on enhancing their geographical foothold in the global radiation-induced myelosuppression treatment landscape. The report in a distinct section covers some of the key competitors operating in the radiation-induced myelosuppression treatment marketplace, emphasizing their financial as well as strategic profiles in depth.
A few of the profiled companies include Pfizer Inc., Janssen Pharmaceutical NV, Janssen Global Services, LLC (Johnson & Johnson), Amgen Inc., Mylan NV, Teva Pharmaceutical Industries Ltd., Novartis AG, and Partner Therapeutics, Inc.
In the highly consolidated competitive landscape of global radiation-induced myelosuppression treatment, the three top-ranking companies, i.e. Janssen Pharmaceutical NV, Amgen Inc., and Teva Pharmaceutical Industries Ltd. dominate in terms of market value. These players continue to hold winning revenue shares in the radiation-induced myelosuppression treatment owing to a strong global presence and a considerable number of new drug approvals. Established companies are entering strategic partnerships and collaborations with regional leaders, to achieve better penetration into regional markets.
Radiation-Induced Myelosuppression Treatment Market by Category
Indication:
- Neutropenia
- Anemia
- Thrombocytopenia
Drug Class:
- Growth factors
- Erythropoietin stimulating agents
- Thrombopoietin agents
- Iron supplements
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
- Drug stores
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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 clients face 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 stands as 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 team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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