Pune, July 10, 2020 (GLOBE NEWSWIRE) -- The global cancer cachexia market is anticipated to gain traction from the rising shift of the healthcare providers towards combination therapies. Such therapies are aiding in improving the lean body mass (LBM) of patients. This information is given by Fortune Business Insights™ in a recently published report, titled, “Cancer Cachexia Market Size, Share & Covid-19 Impact Analysis, By Product (Progestogens, Corticosteroids, Combination Therapies, and Others), By Distributional Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The report further states that this market size was USD 2.02 billion in 2019 and is projected to reach USD 2.93 billion by 2027, thereby exhibiting a CAGR of 4.8% during the forecast period.
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This Report Answers the Following Questions:
- What are the market drivers, dynamics, and hindrances?
- How will the COVID-19 pandemic affect the market in the coming years?
- Which strategies are presently adopted by the companies to intensify competition?
- What are the estimated, current, and historical sizes of the market?
- Which region is set to dominate the market in terms of revenue?
Drivers & Restraints-
Rising Incidence of Cancer Cachexia to Skyrocket Demand
The rising prevalence of cachexia, as well as cancer is further creating a huge patient pool requiring treatment for the same. The Society on Sarcopenia, Cachexia, and Wasting Disorders (SCWD), a non-profit organization, mentioned in a report that in the developing nations, approximately 0.5-1.0% of the total population suffer from cancer cachexia.
Besides, the World Health Organization (WHO) declared that around 18.1 million new cases of cancer were reported in 2018 globally. These researches prove that the demand for cancer cachexia therapeutics is set to surge in the near future. However, the strict government rules and regulations regarding the clinical trials of new candidates may hamper the cancer cachexia market growth in the coming years.
The emergence of the COVID-19 pandemic has brought the entire world to a standstill. The governments of several countries have implemented lockdown measures to prevent the spread of this deadly infection. Such initiatives have caused disruptions in the production and supply chain. But, with time and perseverance, we will be able to battle this severe phase and come back to normalcy. Our authentic reports would help you to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
To get to know more about the short-term and long-term impacts of COVID-19 on this market,
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How Will the Outbreak of COVID-19 Affect the Global Market?
- Patients living with chronic diseases, such as cancer cachexia are at high risk of catching the coronavirus infection.
- It is likely to occur as these patients tend to suffer from multiple comorbidities.
- In Italy, a retrospective analysis was conducted by taking 355 patients under consideration who expired because of COVID-19. Out of those, 20.0% patients were suffering from cancer.
- These factors are propelling numerous medical associations to implement stringent guidelines for the healthcare workers and cancer patients.
- They are advising to utilize telehealth for receiving supportive care and treatment.
Segment-
Progestogens Segment to Dominate Owing to Their Cost-effective Nature
In terms of products, the market is segregated into combination therapies, corticosteroids, progestogens, and others. Out of these, the progestogens segment is in the dominant position in terms of the cancer cachexia market share. This growth is attributable to the higher efficiency of progestogens in this treatment. They are also cost-effective, as compared to the other products.
Regional Analysis-
North America to Lead Backed by Presence of Favorable Reimbursement Policies
Geographically, in 2019, North America procured USD 0.80 billion in terms of revenue. The region is likely to lead the market throughout the forecast period. This growth is attributable to the increasing awareness programs amongst the masses about the benefits of supportive care for cancer. Apart from this, the presence of favorable reimbursement policies in the developed countries, such as Canada and the U.S. would contribute to the growth of the market in this region.
Europe is expected to exhibit a considerable CAGR in the coming years owing to the high demand for the treatment of cancer cachexia. Asia Pacific, on the other hand, is set to grow significantly fueled by the increasing investments by the prominent companies present in the region in research and development activities.
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Competitive Landscape-
Key Players to Invest Hefty Amounts in R&D for Creating Novel Drugs
The global market is presently underpenetrated with the presence of very few companies worldwide. This is mainly occurring because of the lack of approved therapeutics for this treatment. However, some of the companies are investing in R&D activities to come up with new drug candidates. Below are two of the latest industry developments:
- July 2019: Mylan N.V., and Pfizer Inc., entered into a definitive agreement to form a new company named Viatris. It would help both companies to fulfill the growing demand for innovative treatment options from the patients, as well as broaden their access to medicines.
- November 2019: 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 the patients through technological advancements.
Fortune Business Insights™ presents a list of all the providers operating in the global Cancer Cachexia Market. They are as follows:
- Bristol-Myers Squibb Company, New York, U.S.
- ANI Pharmaceuticals, Inc., Baudette, U.S.
- Merck & Co., Inc., Kenilworth, U.S.
- Hikma Pharmaceuticals PLC, London, U.K.
- Mylan N.V., Pennsylvania, U.S.
- AbbVie, Inc., North Chicago, U.S.
- Pfizer Inc., New York, U.S.
- Teva Pharmaceutical Industries Ltd., Petach-Tikva, Israel
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptionss
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Cancer Cachexia, for Key Regions/ Country, 2019
- Pipeline Analysis, By Key Players
- Overview of Economic Cost Burden of Cancer & Supportive Care, for Key Regions/ Country
- Key industry Developments – Mergers, Acquisition, Etc.
- Global Cancer Cachexia Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Progestogens
- Corticosteroids
- Combination Therapies
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of World
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