Globally, cancer supportive care products market is estimated to account for a market value of US$ 24,620 Mn by the end of 2015, and it is projected to witness stable growth across all global regions, due to rising incidences of cancer, leading to increasing demand for effective cancer supportive care products.
New York, NY -- (SBWIRE) -- 02/05/2016 -- According to the latest market report published by Persistence Market Research, titled "Global Cancer Supportive Care Products Market: High consumption of Erythropoietin Stimulating Agents to drive the market for Global Cancer Supportive Care Drugs," the global cancer supportive care products market is projected to expand at a CAGR of 4.3% during the forecast period (2015–2021).
Cancer supportive care products are mainly used in the treatment of adverse effects associated with cancer therapy as well as for treatment of symptoms and signs of cancer, such as chemotherapy-induced nausea and vomiting, chemotherapy induced neutropenia and anemia, bone metastasis, hair loss, etc. The cancer supportive care products market accounted for US$ 23, 6002.0 Mn in 2014 and is expected to increase to US$ 31,700.0 Mn by 2021 at a CAGR of 4.3% over the forecast period.
The market for cancer supportive care products, though shrouded by the loss of brands exclusivity of various generic drugs and entry of biosimilar drugs, presents lucrative opportunity, as they offer ease of accessibility, affordability, and administration to potential customers.
The report analyzes the global cancer supportive care products market in terms of market value (US$ Mn), by drug class, disease indication, region, and distribution channels, and provides information regarding regional market dynamics, regulations, PEST analysis, competitive landscape, current trends, market estimations, and forecast.
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Among the drug class segments, erythropoietin stimulating agents, such as NeoRecormon, Procrit, and Arsanep, are expected to account for the largest share of the global cancer supportive care products market, followed by granulocyte colony-stimulating factors and others. The erythropoietin stimulating agents segment is expected to gain traction in the near future due to increasing number of patients suffering from chemotherapy-induced neutropenia (low count of neutrophils). Increasing demand for high-quality cancer supportive care products is also influencing manufacturers to opt for better quality active pharmaceutical ingredients and maintain a sterile microbial contamination-free manufacturing space.
By disease indication type, the cancer supportive care products market is segmented into various forms of cancers, such as lung cancer, breast cancer, prostate cancer, etc. Among these, the lung cancer segment is expected to dominate the overall market in future, i.e. by 2021, owing to greater incidences of tobacco smoking cases, rising pollution, and exposure to harmful chemicals and gases released from various industries. The segment is projected to expand at a substantial growth rate over the forecast period. However, breast cancer is also gaining traction due to changing lifestyle, the rise in adoption of hormone replacement therapy, and genetic inheritance of genes such as BRCA1 and BRCA2.
Key market participants covered in the report include Amgen Inc., Johnson & Johnson, Novartis Ag., Baxter International Inc, Fagron Group BV, Teva Pharmaceuticals Industries Ltd, Hoffmann LA- Roche Ltd, APR Applied Pharma Science Research S.A., Acacia Pharma Ltd, and Kyowa Hakko Kirin Co Ltd.
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The cancer supportive care products market is segmented as follows:
By Drug Class
Non-steroidal anti-inflammatory drugs
Erythropoietin stimulating agents
Granulocyte colony stimulating factors
By Disease Indication
By Distribution Channel
The Middle East & Africa
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