Global Chemotherapy Treatment Market 2019-2023 | Development of Combination Therapies to Boost Growth | TechnavioThe Associated Press
LONDON--(BUSINESS WIRE)--May 16, 2019--
The global chemotherapy treatment market is expected to post a CAGR of close to 3% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global chemotherapy treatment market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global chemotherapy treatment market is the increasing prevalence of various types of cancers. Cancer has become the second-leading cause of death and the most widely prevalent disease worldwide. Some of the most common cancers include lung and bronchus cancer, breast cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, leukemia, pancreatic cancer, and liver cancer. Chemotherapy is used as first-line therapy to treat these cancers. Moreover, the market has witnessed recent approvals of chemotherapy agents by regulatory authorities in different regions. For instance, the US FDA gave its approval for TECENTRIQ in combination with carboplatin and etoposide for first-line treatment of adult patients with lung cancer. Therefore, the increasing prevalence of various types of cancers and recent approvals of chemotherapeutics will significantly impact the growth of the chemotherapy treatment market during the forecast period.
As per Technavio, the development of combination therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global chemotherapy treatment market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global chemotherapy treatment market: Development of combination therapies
The chemotherapy market is witnessing the development of combination therapies owing to the increase in drug resistance. Combination therapies can reduce drug resistance as tumors are less likely to have resistance to multiple drugs. Moreover, there are several combination therapies that are under development to treat various cancers. For instance, Eli Lilly is testing an investigational drug, necitumumab (IMC-11F8), with gemcitabine-cisplatin chemotherapy. Several vendors are also focusing on the development of combination therapies with chemotherapy drugs along with targeted therapies. Such developments will significantly impact the growth of the chemotherapy treatment market during the forecast period.
“Apart from the development of combination therapies and increasing prevalence of various types of cancer, factors such as the recent approvals of chemotherapeutics to treat cancer, and the availability of drugs to treat the side-effects of chemotherapy will significantly impact the growth of the solar PV services market during the forecast period” says a senior research analyst at Technavio.
Global chemotherapy treatment market: Segmentation analysis
This market research report segments the global chemotherapy treatment market by drug class (antimetabolites, plant derivatives, cytotoxic antibiotics, alkylating agents, and others) and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the chemotherapy treatment market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the growing prevalence of cancer, the strong preference of vendors, and the availability of chemotherapeutics to treat cancer.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
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SOURCE: Technavio Research
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PUB: 05/16/2019 09:55 AM/DISC: 05/16/2019 09:55 AM