Cancer Supportive Care Market Size Worth USD 24.9 Billion by 2032 at 2.50% CAGR – Report by Market Research Future (MRFR)

Cancer Supportive Care Market Trends and Insights By Type (ESA (Erythropoiesis-Stimulating Agents), G-CSFs (Granulocyte Colony-Stimulating Factors), Antiemetics, Bisphosphonates, Opioids, NSAIDs (Non-Steroidal Auto Inflammatory Drugs), and Others), By Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer, Stomach Cancer, and Others), By Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, and Online Providers), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World), Competitive Market Growth, Size, Share and Forecast to 2032

/EIN News/ -- New York, USA, June 07, 2023 (GLOBE NEWSWIRE) -- Cancer Supportive Care Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Cancer Supportive Care Market Information by Type, Application, Distribution Channel, End User and Region - Forecast till 2032”, the market size was valued at USD 19.9 Billion in 2022. The market is projected to grow from USD 20.4 Billion in 2023 to USD 24.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.50% during the forecast period (2023 - 2032).

Cancer Supportive Care Market Trends

Drivers 

Increasing Prevalence of Cancer in Elderly People to Boost Market Growth 

Age-related increases in cancer risk are seen. At the age of 60 or older, more than one thousand per one lakh persons acquire cancer, according to National Institute of Cancer. The need for the cancer supportive care medications has been seen to increase due to the increased rates of colorectal, lung, and stomach cancer in the senior population. The elderly population (those over 65) is more susceptible to chronic illnesses, including cancer, because of the rising number of the damaged cells and lowered immunity. Older patients may find cancer treatment to be complex and difficult since their bodies react to therapy less favorably; difficult cancer therapies may be intolerable to them. Therefore, in comparison to the younger population, cancer supportive care medications and palliative care are strongly advised for the older population which is boosting market growth.

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Opportunities 

Technological Advances in Oncology Research to offer Robust Opportunities 

The oncology research sector has been obliged to swiftly adapt technological improvements to enhance speed of research & development because of the rising demand for better cancer therapies and the resulting load on the healthcare industry. Infinium assay, a genotyping method, CRISPR, a gene editing tool, and many more technologies have assisted researchers in visualizing approaches to identify more effective cancer therapies. These technical developments aim to speed up research so that more cutting-edge cancer treatments may be sold; this quickens the industry's expansion by giving market participants attractive chances.

Restraints and Challenges 

Stringent Regulations for Drug Approvals to act as Market Restraints 

The stringent FDA regulations for drug approvals and side effects of cancer drugs may act as market restraints over the forecast period.

Report Scope:

Report Attribute	Details
Market Size in 2032	USD 24.9 Billion
CAGR	2.50%
Base Year	2022
Forecast Period	2023-2032
Historical Data	2021
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, Application, Distribution Channel, and Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers	rising prevalence of cancer
	increase in the geriatric population

Key Players 

Eminent industry players profiled in the global cancer supportive care market report include.

• 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.

COVID-19 Analysis 

The market for cancer supportive care goods was adversely affected by the COVID-19. Clinical studies have been suspended and delays in cancer detection and treatment have been brought on by the COVID-19 outbreak. In order to guarantee that patients continue to get crucial treatment while minimizing their exposure to SARS-CoV-2 virus, healthcare facilities are hastily reconfiguring their cancer services.

Browse In-depth Market Research Report (128 Pages) on Cancer Supportive Care: https://www.marketresearchfuture.com/reports/cancer-supportive-care-market-11727

Market Segmentation 

The global cancer supportive care market is bifurcated based on type, application, and distribution channel.

By type, G-CSFs will lead the market over the forecast period.

By application, breast cancer will domineer the market over the forecast period.

By distribution channel, hospital pharmacies will spearhead the market over the forecast period.

Regional Analysis 

North America to Command Cancer Supportive Care Market 

With a 45.80% market share in 2022, North America was the market leader. The swift adoption of pharmaceutical industry developments is predicted to greatly expand the market in North America. During the anticipated term, the presence of prominent suppliers in the supportive care sector will maintain North America's dominance in cancer supportive care medication market. In addition, the North American market for cancer supportive care in the United States had the biggest market share, while the market in Canada had the quickest rate of expansion. Due to the surge in biosimilars and the doubled average cost of biologics, North America now controls the major part of the worldwide market for cancer supportive care products. Moreover, throughout the projected period, the market for cancer supportive care drugs in the area would see considerable rise due to the expansion of pharmaceutical medication research and development. In 2022, North America grabbed the highest market with 47.94% thanks to the introduction and quick adoption of biosimilars as well as prescription opioid limits. Additionally, personalized, targeted medicines are widely used in these locations due to their lower incidence of adverse effects, improved public knowledge of their availability, and supportive reimbursement practices for expensive targeted therapies.

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APAC to Have Admirable Growth in Cancer Supportive Care Market 

Due to the growing need for supportive care from the cancer sector, the Asia Pacific market for Cancer Supportive Care is anticipated to see the quickest CAGR from 2023 to 2032. Chemotherapy is widely used to treat the cancer patients in this area. Due to the growth in chemotherapies in urban areas, the market for the cancer supportive care drugs in Asia Pacific is predicted to grow. Furthermore, growing vendor spending in cancer research would support the market's growth in Asia Pacific. Additionally, the Cancer Supportive Care market in India had the Asia-Pacific region's fastest expanding market and China's Cancer Supportive Care market had the greatest market share. Due to the high patient population suffering from cancer and the region's improved healthcare infrastructure, Asia-Pacific is a highly lucrative region for the sale of cancer supportive care drugs. This presents potential opportunities for the major market players in this sector. In addition, rising disposable income across the region's nations and rising healthcare costs have increased demand for cancer medications, which has boosted market expansion. In order to take advantage of the unexplored prospects in this area, the majority of the market players have concentrated on growing their presence in Asia-Pacific by implementing tactics including merger, acquisition, and growth.

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