The global cancer supportive care products market is set to experience steady growth, with an estimated market value of USD 20.63 billion in 2022. According to industry forecasts, this market is projected to surpass USD 26.41 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 2.5% through the forecast period.
The cancer supportive care products market is integral to providing comprehensive care to cancer patients, focusing on alleviating symptoms, managing side effects, and improving quality of life during and after treatment. This growth is attributed to increasing cancer prevalence, advancements in supportive therapies, and a growing focus on holistic treatment approaches.
North America is expected to dominate the global market, owing to its robust healthcare infrastructure, high adoption rates of innovative cancer care products, and a large patient population seeking supportive care solutions.
As the market evolves, ongoing research and product innovations are anticipated to contribute to the development of new therapies and solutions that will drive demand for cancer supportive care products across the globe.
Key Takeaways of Cancer Supportive Care Products Market Study
- Incidences of cancer have surged by around 26% among geriatric demographics compared to 10% among the remaining population
- Adoption of cancer supportive care products to remain prominent in treating lung cancer
- Pharma companies to invest 30% of their spending in cancer R&D to launch novel drugs and therapies in marketplace
- Market in Asia Pacific (APAC) to experience meteoric growth through 2030
COVID-19 Impact on Cancer Supportive Care Products Market
The COVID 19 pandemic has touched every facet of human life including, healthcare delivery for chronic disorders.
As such, these patients are highly susceptible to getting infected from COVID-19 due to their compromised immunity, putting cancer specialists and patients in a dilemma.
Several healthcare facilities are deferring “elective” screenings, surgeries, and other methods that are considered not urgent or not immediately fatal.
Such important decisions are taken on a case-to-case basis to make sure patients diagnosed with cancer are protected from contracting the coronavirus as well as to ensure that healthcare facilities are equipped with resources necessary to treat cancer patients who do get affected by the virus.
The COVID-19 crisis has disturbed the treatment pathways and in-progress care, thus, resulting in temporary drop in demand for cancer supportive care products.
“In an effort to address the untapped sections of the society, several regulatory bodies are showing immediacy in granting approvals to certain cancer supportive care products. Case in point, the US Food and Drug Administration (FDA) has approved Pfizer’s Nyvepria to help prevent infections in patients undergoing myelosuppressive chemotherapy,” says the analyst at FMI.
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Cancer Supportive Care Products Market – Competitive Intelligence
The cancer supportive care products market is highly competitive, with presence of several small- and medium-sized players. Manufacturers are leveraging innovation into their best practices in order to have proper capabilities in place and stay ahead in the fast-growing and competitive arena.
- Baxter International Inc. develops products under the business categories – Renal Care, Medication Delivery, and Pharmaceuticals. The company develops REGLAN Injection, which is a metoclopramide injection.
- Amgen Inc. makes and provides innovative human therapeutics – Neulasta, which is a PEGylated form of human granulocyte CSF.
- Amgen Inc. develops and delivers innovative human therapeutics – Neulasta – a PEGylated form of human granulocyte CSF.
- Baxter International Inc. offers products under the business categories – Medication Delivery, Renal Care, and Pharmaceuticals. The company develops REGLAN Injection, which is a metoclopramide injection.
- Bayer AG works under several business segments – Crop science, Pharmaceuticals, Animal health, and Consumer health. The company develops Xarelto, which incorporates rivaroxaban.
- Daiichi Sankyo Co. Ltd. provides products under Pharmaceutical operation business unit. The company develops Naruvein Injection – a hydromorphone hydrochloride injection.
- GlaxoSmithKline Plc delivers products under business segments – Vaccines, Pharmaceuticals, and Consumer healthcare. The company develops REZONIC – a neurokinin 1 receptor antagonist.
Key Segment:
Drug Class
- Nonsteroidal Anti- Inflammatory Drugs
- Anti-Infective
- Anti-Emetics
- Monoclonal Antibodies
- Erythropoietin Stimulating Agents
- Opioid Analgesics
- Bisphosphonates
- Granulocyte Colony Stimulating Factor
Indication
- Lung Cancer
- Breast Cancer
- Prostate Cancer
- Liver Cancer
- Bladder Cancer
- Leukemia
- Ovarian Cancer
- Melanoma
- Others
Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- Compounding Pharmacies
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
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