Cancer Supportive Care Drugs Market to Reach $24.40 Bn, Globally, by 2030 at 2.2% CAGR: Allied Market Research

Increase in prevalence of cancer and adverse effects associated with the usage of cancer drugs and surge in government expenditure on healthcare drive the growth of the global cancer supportive care drugs market.

PORTLAND, Ore., Jan. 20, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Cancer Supportive Care Drugs Market by Type (Erythropoiesis-Stimulating Agents (ESA), Granulocyte Colony-Stimulating Factors (G-CSFs), Antiemetics, Bisphosphonates, Opioids, NSAIDs (Non-Steroidal Auto Inflammatory Drugs), and Others), Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer, Stomach Cancer, and Others), and Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Providers): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global cancer supportive care drugs industry generated $19.63 billion in 2020, and is expected to reach $24.40 billion by 2030, witnessing a CAGR of 2.2% from 2021 to 2030.

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Drivers, Restraints, and Opportunities

Increase in prevalence of cancer and adverse effects associated with the usage of cancer drugs, rise in uptake of biosimilars, and surge in government expenditure on healthcare drive the growth of the global cancer supportive care drugs market. However, advancements in targeted therapy drugs and stringent regulatory process for biosimilar approval restrain the market growth. On the other hand, rise in R&D activities, surge in number of pipeline cancer supportive care drugs, and potential in untapped emerging economies create new opportunities in the coming years.

Impact of COVID-19 on Cancer Supportive Care Drugs Market-

• Manufacturing activities and supply chains were disrupted due to restrictions on trade of pharmaceutical ingredients and products across various countries. This factor impacted the cancer supportive care drugs market negatively.
• Trials and R&D activities for development of novel cancer supportive care drugs were disrupted and approval for pipeline drugs postponed.
• Many patients postponed their chemotherapy procedures and this held back the demand for cancer supportive care drugs.

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The G-CSFs (Granulocyte colony-stimulating factors) segment to maintain its lead position by 2030

Based on type, the G-CSFs (Granulocyte colony-stimulating factors) segment held the highest share in 2020, accounting for more than two-fifths of the global cancer supportive care drugs market, and is expected to maintain its lead position during the forecast period. This is due to rise in prevalence of chemotherpay induced neutropenia (CIN) and increase in demand of G-CSFs for the treatment of CIN. However, the antiemetics segment is estimated to witness the highest CAGR of 2.4% from 2021 to 2030.

The drug stores and retail pharmacies segment to maintain its lead during the forecast period

Based on end user, the drug stores and retail pharmacies segment accounted for the largest share in 2020, contributing to nearly half of the global cancer supportive care drugs market, and is estimated to maintain its lead in terms of revenue during the forecast period. This is attributed to increase in number of drug stores and retail pharmacies that offer both branded and generic cancer supportive care drugs along with discount and other benefits. However, the hospital pharmacies segment is projected to portray the largest CAGR of 2.3% from 2021 to 2030. This is due to flexibility and convenience in acquiring drugs prescribed by doctors and medical professionals.

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North America to maintain its dominance by 2030

Based on region, North America contributed to the highest market share in 2020, accounting for around two-fifths of the global cancer supportive care drugs market, and is expected to maintain its dominance by 2030. This is due to increase in prevalence of cancer, strong presence of key players, huge availability of drugs, early diagnosis, and favorable reimbursement policies in this region. However, Asia-Pacific is estimated to witness the fastest CAGR of 2.3% from 2021 to 2030, owing to surge in healthcare expenditure and adoption of strategies such as merger, acquisition, and expansion by major market players in the Asia-Pacific region.

Leading Market Players

• Amgen Inc.
• Baxter International Inc.
• F. Hoffmann-La Roche Ltd.
• GlaxoSmithKline Plc (GSK) (Tesaro)
• Helsinn Healthcare
• Heron Therapeutics
• Johnson & Johnson (Janssen Global Services, LLC,)
• Merck KGAA
• Novartis International AG (Sandoz)
• Teva Pharmaceuticals

Official Press Release: https://www.alliedmarketresearch.com/press-release/cancer-supportive-care-drugs-market.html

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