CAGR: 2%Current Market Size: USD 15 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global cancer supportive care products market is expected to grow from USD 15 billion in 2022 to USD 17.5 billion by 2030, at a CAGR of 2% during the Projection period 2023-2030. The growth of the cancer supportive care products market is mainly driven by the increase in cancer.
Products or medications used primarily to treat side effects of cancer therapy as well as symptoms and signs of cancer, such as nausea, vomiting, hair loss, low blood counts, and others, are referred to as cancer-supportive care products. The launch of biosimilars and the approval and adoption of targeted drugs, which have fewer side effects than conventional chemotherapy drugs, are anticipated to restrain the market growth. The ageing population increased cancer incidence, and widespread use of chemotherapy in low- and middle-income areas are all driving forces in the market. The global COVID-19 pandemic has significantly impacted cancer treatment. The American Society of Clinical Oncology reports that throughout the pandemic, there was a marked decrease in visits, cancer tests, surgeries, and therapy. Additionally, there was a considerable decline in the number of hospital outpatient evaluation and management (E&M) visits (74%), new patient E&M visits (70%), and current patient E&M visits (60%) overall. However, the general state of affairs began to normalize in the majority of regions around the second quarter of 2021. The increasing geriatric population and rising cancer prevalence are two of the key factors propelling market expansion. In the next twenty years, there will likely be 28.4 million new instances of cancer, up 47% from 2020, according to Globocan.
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Market Dynamics:
Drivers:
Over the Projection period, a high cancer prevalence is anticipated to drive market growth for cancer-supportive care products worldwide. For instance, the American Cancer Society predicts that there will be 606,880 cancer deaths and 1,762,450 new cancer cases in the United States in 2019. The market for cancer-supportive care products is also anticipated to grow as a result of increased financing for cancer research and development. For instance, the National Cancer Research Institute (NCRI) reports that its partner's funded cancer research to the tune of almost US$ 750 million in 2018–19.
Restraints:
Market expansion for cancer supportive care products is anticipated to be hampered by the loss of brand protection for a number of generic medications. Additionally, the introduction of biosimilars is anticipated to restrain the market's expansion for cancer supportive care goods globally. Certain important medications used in cancer supportive care products have either had their patents expire or are soon to do so. According to projections, this will pave the way for the use of biosimilars in cancer treatment, which would result in a sharp drop in the cost of patent-expired medicines.
Opportunities:
Players in the global market for cancer supportive care products should benefit from lucrative growth possibilities due to increased investment in the pharmaceutical industry. For instance, the pharmaceutical industry in Europe invested US$ 19, 509 million in 2000, which climbed to US$ 39,895 million (approx.) in 2018, according to Key Data 2019 from The European Federation of Pharmaceutical Industries and Associations. Additionally, the global market for cancer supportive care products is anticipated to provide businesses with significant growth prospects through R&D in cancer pain management. For instance, EMD Serono presented at ESMO 2020 in September 2020 their oncology portfolio and pipeline in supportive care in a variety of malignancies.
Challenges:
The development of the market for cancer supportive care products in the Projection period is further anticipated to be hampered by the strict regulation and side effects of cancer medications that damage the patient's quality of life. In the near future, the market for cancer supportive care products may face additional challenges due to rising research and development costs and administrative challenges.
Segmentation Analysis:
The global cancer supportive care products market has been segmented based on drug class, distribution channel, and region.
By Drug Class
The drug class segment is granulocyte colony-stimulating factor, erythropoiesis-stimulating agent, antiemetics, bisphosphonates, opioids, non-steroidal anti-inflammatory drugs, topical, and others. The non-steroidal anti-inflammatory drugs segment led the largest share of the cancer supportive care products market with a market share of around 43% in 2022. Numerous research reports have been released on using NSAIDs (non-steroidal anti-inflammatory drugs) to treat cancer. For instance, a research study titled "Non-Steroidal Anti-Inflammatory Drugs in Colorectal Cancer Chemoprevention" published in February 2021, noted that there is mounting evidence from epidemiologic, preclinical, and clinical studies that non-steroidal anti-inflammatory drugs (NSAIDs) have a positive impact on colorectal cancer chemoprevention. The main method by which they lower the risk of colorectal polyps is by inhibiting cyclooxygenase-2. The use of COX-2 along with non-COX-2 medications during the follow-up could reduce the risk of second cancer, and taking more than one NSAID had varying benefits on lowering the incidence of second cancer, according to a research study published in November 2021 with the title "Nonsteroidal Anti-Inflammatory Drugs Reduce Second Cancer Risk in Patients with Breast Cancer: A Nationwide Population-Based Propensity Score-Matched Cohort Study in Taiwan." As a result, these studies raise consumer awareness of the treatments and stimulate commercial expansion.
By Distribution Channel
The distribution channel segment is retail pharmacies, hospital pharmacies, and compounding pharmacies. The hospital pharmacies segment led the largest share of the cancer supportive care products market with a market share of around 40% in 2022. Hospital pharmacists are working hard to keep up with the rising demand for cancer-supportive care goods and the steady growth in healthcare costs because the pharmacy industry is always changing. Hospital pharmacists constantly battle cutting costs and staying within budget due to the high inbound costs of oncology medications. In order to ensure that hospitals may save as much money as possible on their prescription drug costs, hospital pharmacists are keeping an eye on trends regarding cancer-supportive care items that have a discernible impact on pharmacy spending. While hospital pharmacists still hold a larger share of the market value for cancer supportive care goods, players are now opening up new revenue streams in retail pharmacies.
Global Cancer Supportive Care Products Market - Sales Analysis.
The sale of the cancer supportive care products market expanded at a CAGR of 1.9% from 2016 to 2022.
By 2035, there will be more than 24 million new cancer cases worldwide, not counting non-melanoma skin cancer, predicts the World Cancer Research Fund International (WCRF). According to the National Cancer Institute (NIH), there were over 1.5 million new cases of cancer in the developed nation of the United States in 2017. Several healthcare organizations have thrown their hats into the ring in response to the firm and growing cancer prevalence, and the market for goods that support cancer care is rapidly growing.
Around two-thirds of all new cancer cases are diagnosed in persons 65 years of age and older, according to the SEER Database of the U.S. National Cancer Institute, demonstrating that ageing can make people more susceptible to such diseases. Major firms are mainly concentrating on developing novel targeted medicines for cancer treatment as a result of the surge in technical breakthroughs. It has fewer side effects than conventional therapies like chemotherapy. These elements may limit market expansion during the Projection period. For instance, the U.S. FDA granted Trodelvy (sacituzumab govitecan-hziy) expedited approval in April 2020 to Gilead Sciences, Inc.
Thus, owing to the aforementioned factors, the global cancer-supportive care products market is expected to grow at a CAGR of 2% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the cancer supportive care products market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the cancer supportive care products market and held a 42% share of the market revenue in 2022.
Global Cancer Supportive Care Products Market - Country Analysis:
Germany's cancer supportive care products market size was valued at USD 0.12 billion in 2022 and is expected to reach USD 0.34 billion by 2030, at a CAGR of 2.8% from 2023 to 2030. Because the urban population's disposable income is rising, the demand for this industry in the area has also increased due to the rising incidence of cancer and the severe side effects connected to cancer therapy.
China’s cancer supportive care products market size was valued at USD 0.25 billion in 2022 and is expected to reach USD 0.45 billion by 2030, at a CAGR of 2.4% from 2023 to 2030. Because of the increase in biosimilars brought on by the doubled average cost of biologics. Moreover, throughout the Projection period, the region's market for cancer-supportive care products would experience a considerable rise due to the expansion of pharmaceutical drug research and development.
India's cancer supportive care products market size was valued at USD 0.21 billion in 2022 and is expected to reach USD 0.48 billion by 2030, at a CAGR of 2.7% from 2023 to 2030. Because of the increase in biosimilars throughout the previous years. Additionally, it is projected that in the upcoming years, the market for cancer-supportive care products will develop in the region due to the rise in cancer prevalence, as well as the numerous side effects and cancer treatments.
Key Industry Players Analysis:
To increase their market position in the global cancer-supportive care products market, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
2% |
Market Size |
15 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Drug Class, By Distribution Channel, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Amgen, Inc., Merck & Co., Inc., Johnson & Johnson Services, Inc., Heron Therapeutics, Inc., Novartis AG, GlaxoSmithKline plc (GSK), F. Hoffmann-La Roche Ltd., and Helsinn Healthcare SA. |
By Drug Class |
|
By Distribution Channel |
|
Regional scope |
|
Scope of the Report
Global Cancer Supportive Care Products Market By Drug Class:
Global Cancer Supportive Care Products Market By Distribution Channel:
Global Cancer Supportive Care Products Market By Region:
Over the Projection period, a high cancer prevalence is anticipated to drive market growth for cancer-supportive care products worldwide. For instance, the American Cancer Society predicts that there will be 606,880 cancer deaths and 1,762,450 new cancer cases in the United States in 2019. The market for cancer supportive care products is also anticipated to grow as a result of increased financing for cancer research and development. For instance, the National Cancer Research Institute (NCRI) reports that its partners funded cancer research to the tune of almost US$ 750 million in 2018–19.
Leading market players active in the global cancer supportive care products market are Teva Pharmaceuticals Industries Ltd., Acacia Pharma Ltd., Kyowa Hakko Kirin Co Ltd., APR Applied Pharma Science Research S.A., Fagron Group BV., and Hoffmann LA- Roche Inc. among other.
Global cancer supportive care products market is expected to reach USD 17.5 billion by 2030.
The cancer supportive care products market is projected to have a CAGR of 2%.
Based on the distribution channel, the cancer supportive care products market is segmented into retail pharmacies, hospital pharmacies, and compounding pharmacies.
Political Factors- The business climate is badly impacted by bureaucracy and corruption. Due to the compromised public trust in commercial organisations and the entire political and economic framework, cancer supportive care products market's operations are increasingly uncertain in nations with high levels of corruption and lax law enforcement. Corruption can have an impact on a variety of corporate processes, including licencing, contracting, fraud deals, and numerous lawsuits. The organisation's sustainable development will be at risk if cancer supportive care products market decides to join markets with corrupt economic and political systems since it will undermine society, undermine the justice system, and undermine the rule of law.
Economic Factors- Organizational performance is directly impacted by a nation's economic development. Growing economies present the cancer-supportive care products market with numerous prospects for expansion. In a similar vein, it's critical to comprehend the stage of the industrial lifecycle. Due to market saturation, entering mature sectors might be more difficult than entering businesses in the growth stage. Furthermore, the amount of money invested on key infrastructure development by the government of the host country has an impact on the cancer-supportive care products market's financial success. The business climate is made easier by a well-developed infrastructure, which also boosts the gold industry's growth potential in the respective nation.
Social Factors- For global markets like the cancer-supportive care products market, demographic changes such as population ageing, migration trends, and socioeconomic factors are of utmost relevance. Analyzing the demographic traits can assist the cancer supportive care products market in selecting the market segment or calls with the highest development potential. Migration has an impact on business and marketing strategy as well. Understanding the overall attitude of the populace toward migration is crucial for the cancer-supportive care products market since it might affect the ability of businesses to hire foreign management in the host nation.
Technological Factors- To keep ahead of the competition, the cancer supportive care products market needs carefully analyse the ongoing technical developments. The potential for the 5G to improve business outcomes through improved user experience, better speed, and increased access should be closely monitored. Such technological advancements have the power to fundamentally alter a sector and rewrite the guidelines for market participants' success. Additionally, it's crucial to take into account the technology's state of development and maturity in the relevant industry. cancer supportive care products market can expand market share by concentrating on emerging technology advancements by entering markets where technological development has not yet matured.
Environmental Factors- Businesses have been forced to implement cutting-edge recycling and waste management strategies due to the combination of rising environmental degradation and technological innovation. Recycling is almost a corporate standard in several nations. Furthermore, cancer supportive care products market must employ effective waste management procedures in organisational divisions that are situated in or close to urban regions. Many nations have established stringent regulations to safeguard their metropolitan regions through efficient garbage management. Some nations provide financial aid to encourage the use of renewable energy sources. To ensure long-term sustainability, cancer supportive care products market. can profit from it and make investments in renewable technologies. Due to improved brand perception, this investment will also result in higher stakeholder satisfaction and a more extensive consumer base.
Legal Factors- As certain nations have strong rules to protect labour safety, the cancer-supportive care products market. must abide by the laws governing employee/labor health and safety. cancer supportive care products market has an ethical and moral duty to give its employees a safe working environment. In a similar vein, anti-discrimination laws (such as equal employment opportunity laws) also need to be carefully considered when developing human resource practises as discriminatory lawsuits against employers harm the organisational image and affect organisations' capacity to attract and retain talent.
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