New York, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The global cancer cachexia market size is predicted to grow at a CAGR of over 4.5% from 2024 to 2036. The market is projected to garner a revenue of USD 4.5 billion by the end of 2036, up from a revenue of USD 2.6 billion in the year 2023. Throughout the projection period, which runs from 2024 to 2036, the growing geriatric population is anticipated to support market expansion. The percentage of the population that is 60 years of age or older is rising. There were one billion individuals sixty years of age or older in the world in 2019. By 2030, there will be 1.4 billion, and by 2050, there will be 2.1 billion. Elderly people's weakened immune systems make them more prone to diseases, which is predicted to accelerate the market's growth pace. In addition to these, the market for cancer cachexia will also grow as a result of increased awareness-raising campaigns by public and private institutions.
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The market for cancer cachexia will also grow as a result of developments in the treatment of cancer cachexia and sedentary lifestyles. Cancer cachexia is a multifactorial syndrome that often accompanies advanced cancer. It involves the progressive loss of muscle mass and adipose tissue, leading to weight loss, weakness, and a decline in overall physical function. The condition is associated with increased morbidity and mortality in cancer patients. There is a significant opportunity for novel therapies that can effectively target the complex mechanisms involved in cancer cachexia.
Cancer Cachexia Market: Key Takeaways
- Market in North America to propel highest growth
- The weight loss stabilizers segment to garner the highest growth
- Market in Asia Pacific to grow at the highest rate
Increasing Incidence of Chronic Illnesses is Rising across the Globe to Boost Market Growth
The cancer cachexia market is expected to rise as chronic diseases including diabetes, cancer, heart failure, and others become more common. Heart failure (HF) affects about 6.7 million adults over the age of 20, and by 2030, that number is predicted to increase to 8.5 million. The lifetime risk of heart failure has risen to 24%; almost 1 in 4 people will get heart failure at some point in their lives. The market for cancer cachexia will grow as a result of the increased prevalence of cancer cachexia and the development of cutting-edge therapeutics to address it. The market for cancer cachexia is also growing at a large rate due to increased healthcare spending, which supports the development of the industry's infrastructure. Additionally, by boosting funding, several government organizations hope to strengthen the healthcare infrastructure, which would further alter the dynamics of the market. The amount spent on Medicare increased by 8.4% to USD 900.8 billion in 2021 or 21% of the entire NHE. Medicaid spending increased to USD 734.0 billion in 2021, or 17.5% of the entire NHE, a 9.2% increase. In 2021, the amount spent on private health insurance increased by 5.8% to USD 1,211.4 billion, or 28% of the total NHE. Due to the high prevalence of cachexia instances among cancer patients worldwide, clinical research aimed at defining the features of cancer cachexia in a variety of human cancer types has received more attention.
Cancer Cachexia Industry: Regional Overview
The global cancer cachexia market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Expanding Regulatory Support and Framework to Drive Market Growth in the North American region
The cancer cachexia market in the North American region is estimated to garner the largest revenue by the end of 2036. The market for cancer cachexia is dominated by North America due to the region's rising prevalence of chronic illnesses like cancer and expanding knowledge of cachexia treatments. The availability of treatment choices and growing healthcare costs will also accelerate the market's development pace in this region. North America is anticipated to lead the market because of the region's high cancer and cancer cachexia rates, abundance of pharmaceutical companies, and evolving approaches to cancer patient treatment. Mexico is estimated to have about 195,499 new cases of cancer, based on a survey in 2020. In addition, the American Cancer Society 2022 projects that there will be 1.9 million new cancer diagnoses in the US in 2022. Regulatory support is a crucial factor in expediting the translation of research findings into viable treatments. The streamlined approval process reflects a commitment to addressing unmet needs in the cancer cachexia market.
Increasing Cancer Burden to Propel the Growth in the Asia Pacific Region
The Asia Pacific cancer cachexia market is estimated to garner the highest CAGR by the end of 2036. The escalating cancer burden in the Asia Pacific region contributes to a higher prevalence of cancer cachexia. The weight loss and muscle wasting associated with cachexia are prevalent challenges in cancer management, necessitating effective interventions to improve patient outcomes. Asia Pacific accounted for approximately 60% of the global cancer cases in 2020. The substantial investment in research and development underscores a commitment to advancing the understanding of cancer cachexia in the Asia Pacific region. This funding facilitates groundbreaking research initiatives aimed at unraveling the complexities of the condition and developing targeted therapies. The multidimensional nature of cancer cachexia necessitates collaborative efforts. The increase in collaborative research initiatives signifies a collective approach, leveraging the expertise of pharmaceutical companies, research institutions, and healthcare providers to address the unique challenges posed by cancer cachexia.
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Cancer Cachexia Segmentation by Mode of Action
- Weight Loss Stabilizers
- Appetite Stimulants
Amongst these segments, the cancer cachexia market weight loss stabilizers segment is anticipated to hold the largest share over the forecast period. Because cancer patients experience extreme weight loss, weight loss stabilizers dominate the market for cancer cachexia. Physicians offer weight loss stabilizers to counteract weight loss and improve the quality of life for cancer patients experiencing cachexia. Cytokine inflammation, tissue loss, wasting syndrome, and cystic fibrosis are the hallmarks of cachexia. To enhance the quality of life for cancer patients, it is imperative to counteract weight loss in this condition. Cachexia results from uncontrollably losing muscle mass, dying from radiation and chemotherapy, and seeing an 85% increase in the last one to two weeks. Furthermore, as the condition progresses, 45% of patients lose more than 10% of their initial weight. Weight stabilizers are advised by doctors to prevent cachexia.
Cancer Cachexia Segmentation by Drugs
- Progestogens
- Dronabinol
- Mega Sterol Acetate
- Corticosteroids
Amongst these segments, the cancer cachexia market progestogens segment is anticipated to hold a significant share over the forecast period. The primary reasons for this are progestogen's cost-effectiveness, tolerability, and efficacy in treating cachexia. Since progestogens are more effective than other medications, it is anticipated that demand for them will stay high over the coming years. In addition to these, the most efficient and painless treatment for cancer cachexia was progestogens. As a result, it will still be significant in the progestogens market sector. The goals of the current treatments are cancer cachexia palliation as well as patient and family relief. The demand for hormonal contraceptives, including progestogen-containing contraceptives, is witnessing sustained growth. Progestogens contribute to the effectiveness of various contraceptives, ranging from oral pills to long-acting reversible contraceptives (LARCs), meeting the diverse needs of women globally. Growing awareness about reproductive health, family planning, and the diverse applications of progestogens in women's healthcare contributes to increased adoption. Efforts by healthcare organizations and advocacy groups play a crucial role in educating women and healthcare professionals about the benefits of progestogens. Education and awareness campaigns regarding women's health and reproductive rights have seen a 20% increase in global reach over the past two years.
Cancer Cachexia Segmentation by Indication
- Cancer
- Congestive Heart Failure (CHF)
- Rheumatoid Arthritis
- Chronic Kidney Disease
- Cystic Fibrosis
- Chronic Obstructive Pulmonary Disease (COPD)
Cancer Cachexia Segmentation by Route of Administration
- Oral
- Parenteral
Cancer Cachexia Segmentation by Dosage Form
- Tablets
- Injections
Cancer Cachexia Segmentation by End-Users
- Hospitals
- Specialty Clinics
- Homecare
Cancer Cachexia Segmentation by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Few of the well-known market leaders in the global cancer cachexia market that are profiled by Research Nester are Veru, Inc., Eli Lilly, and Company, Bristol-Myers Squibb Company, Mylan N.V., ANI Pharmaceuticals, Novartis AG, Hikma Pharmaceuticals Plc., Sun pharmaceutical Industries Ltd, and other key market players.
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Recent Development in the Cancer Cachexia Market
- Veru Inc. (NASDAQ: VERU), an oncology biopharmaceutical company with a focus on developing novel medicines for the management of breast and prostate cancer, today announced that it has entered into a clinical trial collaboration and supply agreement with Eli Lilly and Company.
- Bristol-Myers Squibb Company successfully acquired Celgene Corporation to create a strong biopharma company. As per the officials of Bristol, its expertise in the fields of cardiovascular disease, hematology, immunology, and oncology would aid in transforming the lives of patients through technological advancements.
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