Rockville, MD, Sept. 24, 2024 (GLOBE NEWSWIRE) -- In its new study, Fact.MR states that the global cancer supportive care product market is estimated to reach a value of US$ 35.47 billion in 2024 and thereafter advance at a CAGR of 6.9% from 2024 to 2034.
Cancer supportive care products are increasingly being sought after for their demonstrated effectiveness in improving patient outcomes. As cancer therapies advance, there's a heightened focus on enhancing quality of life and managing treatment side effects, underscoring the critical role of these products. Both patients and healthcare providers recognize the pivotal role of supportive care in treatment outcomes. These products help patients better tolerate rigorous therapies, thereby enhancing treatment adherence and success. They encompass a range of solutions from anti-nausea medications to specialized cosmetic items.
Demand for supportive care has been bolstered by a holistic approach to cancer management, addressing both physical ailments and psychological well-being. Moreover, as the number of cancer survivors grows, there's an increasing need for long-term supportive care solutions. In response, researchers and pharmaceutical companies are developing innovative medications tailored to specific cancer types and treatment protocols. This personalized approach, coupled with heightened awareness and expanded insurance coverage, is propelling the supportive care industry to new heights, promising improved experiences for cancer patients worldwide.
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Key Takeaways from Market Study
- The global cancer care supportive care product market is projected to generate revenue of US$ 68.93 billion by the end of 2034.
- North America is evaluated to account for 6% of the global market share by 2034-end.
- The market in East Asia is projected to reach a size of US$ 14.09 billion by 2034-end.
- By 2034, the market in Canada is expected to reach a valuation of US$ 3.05 billion.
- Based on indication, the bladder cancer segment is estimated to be worth US$ 1.16 billion in 2024.
- Hospital pharmacies are analyzed to hold 6% of the market share in 2024.
“Researchers and pharmaceutical companies are developing novel medications tailored to specific cancer types and treatment protocols, enhancing the effectiveness and relevance of supportive care. This is driving the growth of the cancer supportive care product market,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cancer Supportive Care Product Market
Key players in the cancer supportive care product industry are Amgen Inc., Baxter International Inc., Hoffmann-La Roche Ltd., GlaxoSmithKline Plc (GSK) (Tesaro), Helsinn Healthcare, Heron Therapeutics, Johnson & Johnson (Janssen Global Services, LLC), Merck KGAA, Novartis International AG (Sandoz), Bristol Myers Squibb Company, Eli Lilly and Company, Sanofi S.A., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., AbbVie Inc., AstraZeneca PLC, Bayer AG, GlaxoSmithKline Plc.
Addition of Immunotherapy Support Products for Cancer Patients
Products supporting immunotherapy are increasingly favored for managing the specific side effects of these pioneering treatments. Innovative drug delivery technologies such as transdermal patches and long-acting injectables are improving patient comfort and adherence to medication.
Digital health solutions, including AI-driven chatbots and symptom-tracking apps, are revolutionizing supportive care by enabling proactive interventions. Wearable devices that monitor vital signs and activity levels further enhance patient care.
There's a growing preference for products derived from natural materials and plants, reflecting patient interest in complementary therapies. Attention is also shifting towards products addressing long-term survival challenges like cognitive function and sexual health. Furthermore, an emerging trend in the market is integrated supportive care solutions, combining medications, technology, and online resources to provide comprehensive support throughout the cancer journey.
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Cancer Supportive Care Product Industry News:
- In 2023, Calidi Biotherapeutics, Inc. and First Light Acquisition Group, two clinical-stage biotechnology companies, announced their intention to join. Their objective is to create oncolytic virotherapy, a cancer treatment delivery method based on stem cells.
- The FDA authorized atezolizumab (Tecentriq), an immunotherapy medication, in December 2022 for the treatment of Alveolar Soft Part Sarcoma (ASPS) in adults and children two years of age and older, provided the illness has spread or is incurable.
- In 2022, the FDA approved Novartis' use of Pluvicto to treat adult patients with metastatic castration-resistant prostate cancer (mCRPC) that is positive for the prostate-specific membrane antigen and who have previously received treatment with taxanes and androgen receptor pathway inhibitors.
- Dragonfly and Gilead stated that they would be working together on natural killer cell engagers for cancer starting in 2022. As a condition of the deal, Gilead purchased a worldwide license from Dragonfly for their immunotherapy research on 5T4, known as DF7001.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cancer supportive care product market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on drug class (anti-emetics, anti-infective, bisphosphonates, erythropoietin stimulating agents, granulocyte colony stimulating factors, monoclonal antibodies, nonsteroidal anti-inflammatory drugs, opioid analgesics), indication (bladder cancer, breast cancer, leukemia, liver cancer, lung cancer, melanoma cancer, ovary cancer, prostate cancer), and distribution channel (compounding pharmacies, hospital pharmacies, retail pharmacies), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Regional Analysis
Cancer supportive care products are gaining popularity in countries such as the United States, China, Canada, Japan, and South Korea. The markets in East Asia and North America are expected to grow at a CAGR of 7% from 2024 to 2034. In Mexico, the market is expanding rapidly due to government initiatives aimed at improving access to cancer care, which may encourage or subsidize the use of supportive care products by healthcare providers. A 2023 study by the USC Keck School of Medicine revealed that third-generation Mexican Americans have a 66% higher risk of liver cancer compared to first-generation Mexican Americans, based on research involving over 30,000 individuals.
Check out More Related Studies Published by Fact.MR:
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OTC Cough, Cold and Allergy Medicine Market: Size has been forecasted to expand at 5.5% CAGR and reach a value of US$ 66.54 Billion by the end of 2032.
Over the Counter (OTC) Analgesics Market: Size was valued at around US$ 25 Bn in 2020, and is expected to accelerate at a CAGR of 5% through 2031.
Peptide-based Cancer Therapeutics Market: Size is expected to grow at a compound annual growth rate (CAGR) of 7.8%, from a valuation of US$ 10.1 billion in 2023 to US$ 21.4 billion by the end of 2033.
Cancer Biomarkers Market: Size is projected to increase at a 12% CAGR between 2022 and 2032. The cancer biomarkers industry is expected to reach a valuation of US$ 34 billion by 2032.
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