Global Cancer Supportive Care Products Market Opportunities 2024, Forecast To 2033
10 Oct, 2024
The cancer supportive care products market has experienced consistent growth, rising from $20.58 billion in 2023 to $21.56 billion in 2024, with a compound annual growth rate (CAGR) of 4.8%. This growth has been driven by factors such as a rise in cancer incidence, increased awareness, improved healthcare infrastructure, a growing elderly population, and early detection initiatives. The market is expected to continue expanding, reaching $26.1 billion by 2028, at a CAGR of 4.9%. This forecasted growth is expected to be fueled by the increasing prevalence of cancer, a shift toward personalized medicine, patient-centric care, investments in cancer research, and higher cancer survival rates. Technological advancements, innovative drug delivery systems, new drug formulations, personalized care approaches, and biodegradable products will be key trends in the future.
Major Driver In The Cancer Supportive Care Products Market
The increasing cancer incidence is expected to propel the growth of the cancer supportive care products market going forward. As populations age, the risk of developing cancer increases due to cellular changes and prolonged exposure to risk factors, including smoking, poor diet, lack of physical activity, and excessive alcohol consumption. Cancer supportive care products help manage symptoms, improve quality of life, and support patients undergoing treatment, addressing the growing need due to the rising incidence of cancer. According to the American Cancer Society, there are projected to be 58,450 cases of oral cavity and pharynx cancer in January 2024, reflecting a 7.2% increase from the 54,540 cases reported in 2023. Therefore, the increasing cancer incidence is driving the growth of the cancer supportive care products market, which is projected to reach a market size of $X billion in 2023, $Y billion in 2024, and $Z billion in 2028.
Request A Free Sample Of The Cancer Supportive Care Products Market ReportCancer Supportive Care Products Market Competitive Landscape
Major companies operating in the cancer supportive care products market are Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Amgen Inc., Becton Dickinson and Company, Teva Pharmaceutical Industries Limited, Baxter International Inc., Daiichi Sankyo Company Limited, Agilent Technologies Inc., Hologic Inc., Illumina Inc., Kyowa Hakko Kirin Co. Ltd., QIAGEN N.V., Exelixis Inc., Fagron Group B.V., Tessa Therapeutics Pte Ltd., Mirati Therapeutics Inc., APR Applied Pharma Science Research S.A., Acacia Pharma Ltd., Arquer Diagnostics Ltd.
Key Cancer Supportive Care Products Market Trend
Major companies in the cancer supportive care products market are emphasizing advancements in cancer therapies, including a targeted radioligand therapy (RLT) platform, to enhance treatment efficacy, minimize side effects, and improve overall patient outcomes. A targeted radioligand therapy (RLT) platform employs radiolabeled molecules that selectively bind to cancer cell markers, delivering localized radiation to effectively destroy cancer cells while preserving healthy tissue. For instance, in May 2022, Novartis AG, a Swiss pharmaceutical corporation, received approval from the U.S. Food and Drug Administration (FDA) for Pluvicto (lutetium Lu 177 vipivotide tetraxetan) to treat adult patients with prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC) that has progressed despite prior treatments. Pluvicto marks the first FDA-approved targeted radioligand therapy (RLT) for eligible mCRPC patients, combining a targeting ligand with a therapeutic radioisotope. The FDA also approved Locametz (gallium Ga 68 gozetotide injection), used in PET scans to detect PSMA-positive lesions, aiding in the identification of cancer spread and determining eligibility for Pluvicto treatment.
Purchase The Global Cancer Supportive Care Products Market Report Directly And Get A Swift DeliveryGlobal Cancer Supportive Care Products Market Segmentation
The cancer supportive care products market covered in this report is segmented –
1) By Drug Class: Nonsteroidal Anti-Inflammatory Drugs, Anti-Infective, Anti-Emetics, Monoclonal Antibodies, Erythropoietin Stimulating Agents, Opioid Analgesics, Bisphosphonates, Granulocyte Colony Stimulating Factor
2) By Indication: Lung Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Bladder Cancer, Leukemia, Ovary Cancer, Melanoma Cancer, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Compounding Pharmacies
By Geography:The regions covered in the cancer supportive care products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the cancer supportive care products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Cancer Supportive Care Products Global Market Report 2024 furnishes information about the global cancer supportive care products market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.