Progress in cancer treatment procedures, with it, has brought challenges that go beyond cure. Toxicity and morbidity are among the biggest hurdles that a cancer patient has to face while undergoing chemotherapy or radiation therapy.
New York, NY -- (SBWIRE) -- 01/15/2016 -- Persistence Market Research (PMR)'s new research report, titled "Global Market Study on Cancer Supportive Care Products: High Consumption of Erythropoietin Stimulating Agents to Drive the Market in Forecast Period", examines the proceedings of the global cancer supportive care products market for the 2015-2021 period. The objective of the report is to present updates and information for market players to leverage opportunities in the global cancer supportive care products market. The report states that the global cancer supportive care products market will expand at a CAGR of 4.30% from 2015 to 2021 to be valued at US$31.7 bn by 2021. The market had a valuation of US$24.6 bn in 2015.
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The increasing incidence of cancer across the world is the major factor driving demand for cancer supportive care products. According to the statistics of Globocan, a subsidiary agency of the WHO for cancer research, 14.1 mn cancer cases were registered in 2012 across the world.
Cancer supportive care products include pacifiers, which can be pain-subsiding equipment or drugs, mainly used to treat the adverse side effects of cancer therapy. These products are also utilized to subside and for healing purposes of cancer drugs, chemotherapy-induced nausea, chemotherapy-induced neutropenia, hair loss, chemotherapy-induced anemia, etc.
In the last few decades, advancement in cancer treatment has been notable. In the last two years itself, 21 new molecular variants have been launched, thereby increasing the avenues of cancer treatment research. This would need combination therapies and supportive healing for the primary treatment to bestow desired results.
With anti-cancer drugs such as anti-emetics, opioid analgesics, nonsteroidal anti-inflammatory drugs, etc. proving to be more effective, cancer supportive care products are required to counter the unpleasant effects of these medications. Additionally, these drugs help reduce the side effects of cancer treatment on a patient, because of which the adoption rate of these products is on the rise.
To cater to this rising demand, manufacturers of these products are focused on the innovation and development of new drugs for gains in this market. In this regard, manufacturers have launched new drugs to expand the therapeutic approach of cancer, which includes preventive vaccines and oral medications.
The rise in healthcare expenditure across the globe from healthcare agencies as well as patients has supported the growth of the global cancer supportive care products market. In the U.S., healthcare expenditure will rise at an annual rate of 5.8% during the forecast period and is expected to account for 19.9% of the national GDP by 2022. This is attributed to the large number of state-led initiatives to improve accessibility and adherence to cancer treatment along with mega- marketing campaigns that target the consumer directly for the utilization and adherence to cancer treatment. These initiatives have boosted overall spending on cancer treatment and its associated healing therapies substantially in the country.
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The key market players operating in the global cancer supportive care products are Amgen Inc., Novartis Ag, Fagron Group BV, Hoffmann LA-Roche Ltd, Acacia Pharma Ltd., Johnson & Johnson, Baxter International Inc., Teva Pharmaceuticals Industries Ltd., APR Applied Pharma Science Research S.A., and Kyowa Hakko Kirin Co Ltd.
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