Dublin, Aug. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Cancer Cachexia Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global cancer cachexia market is forecast to rise from $2.33 billion in 2023 to an expected $2.47 billion in 2024. This progression represents a compound annual growth rate (CAGR) of 5.9%. Looking ahead to 2028, the market is anticipated to burgeon to $3.14 billion, registering a CAGR of 6.2%.
Experts attribute this growth to an enhanced understanding of cancer biology, the increasing global prevalence of cancer, a growing aging population, and a broader focus on patient-centered care. These elements, along with more robust treatment options and increased awareness among healthcare professionals, are shaping a market poised for expansion.
Projected Trends and Innovation in Cachexia Management
Key trends driving this forecast include heightened awareness of cachexia management and a greater adoption of novel therapeutic approaches, combined with escalating healthcare expenditures and supportive government initiatives. Researchers point to a focus on expanding therapeutic options and improving diagnosis rates as pivotal to the market's advancement.
Increasing Cancer Prevalence Catalyzing Market Growth
An upsurge in cancer diagnoses worldwide is propelling the expansion of the cancer cachexia market. Cancer defines as a condition marked by uncontrolled cell proliferation that disrupts body functions. Contributing factors include lifestyle changes, environmental influences, and an aging population, alongside genetic factors and enhanced diagnostic methods. These influences lead to the early detection of cancer cachexia, allowing for timely interventions. For instance, Australian health authorities reported a cancer prevalence of approximately 1.8% in the population in 2022. With increased diagnostics, healthcare professionals are more equipped than ever to manage symptoms of cachexia early and efficaciously.
Innovations by Major Pharmaceutical Companies
Prominent companies in the market are at the forefront of developing innovative treatments aimed at combating the symptoms and adverse effects of cancer cachexia. These efforts are exemplified by the introduction of ghrelin receptor agonists designed to improve patient outcomes. One such medication, Adlumiz (anamorelin), for example, has demonstrated efficacy in increasing body weight, muscle mass, and appetite in afflicted patients.
Acquisitions Catalyzing Market Diversity and Treatment Accessibility
Recent industry movements, such as LG Chem Ltd.'s acquisition of AVEO Oncology, indicate a strategic shift towards diversifying drug portfolios and enhancing drug development competencies. Such moves are expected to quicken the pace of innovation in cancer treatments and increase accessibility to therapy options for cancer cachexia.
Regional Insights and Therapeutic Approaches
North America emerged as the largest market for cancer cachexia treatments in 2023. However, the Asia-Pacific region is projected to be the fastest-growing market through the forecast period. This growth is reflective of a multifaceted approach to tackling cancer cachexia, which includes nutritional counseling, therapeutic exercises, and advanced medication treatments distributed through various channels.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.47 Billion |
| Forecasted Market Value (USD) by 2028 | $3.14 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Companies Featured
- Pfizer Inc.
- Merck & Co. Inc.
- AbbVie Inc.
- Bayer AG
- Sanofi SA
- Bristol Myers Squibb Company
- AstraZeneca plc
- Novartis International AG
- Fresenius SE & Co. KGaA
- GlaxoSmithKline plc
- Takeda Pharmaceutical Company
- Eli Lilly and Company
- Boehringer Ingelheim International GmbH
- Teva Pharmaceutical Industries Ltd.
- Astellas Pharma Inc.
- Daiichi Sankyo Company Limited
- Sun Pharmaceutical Industries Ltd.
- Perrigo Company plc
- Kyowa Kirin Co. Ltd.
- Hikma Pharmaceuticals plc
- Endo International plc
- Aspen Pharmacare Holdings Limited
- Lupin Limited
- Mallinckrodt plc
- Akorn Inc.
- Aeterna Zentaris
- XBiotech Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mj5t15
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