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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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.
Fortune Business Insights™ presents a list of all the providers of cancer cachexia therapeutics operating in the global 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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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 therapeutics 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.
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 the treatment of cancer cachexia. 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.
Table Of Content:
1.1. Moreover, Research Scope
1.2. Moreover, Market Segmentation
1.3. Moreover, Research Methodology
1.4. Moreover, Definitions and Assumptions
3.1. Moreover, Market Drivers
3.2. Moreover, Market Restraints
3.3. Moreover, Market Opportunities
Moreover, Key Insights
4.1. Key Industry Developments – Moreover, Merger, Acquisitions, and Partnerships
4.2. Porter’s Five Forces Moreover, Analysis
4.3. Moreover, SWOT Analysis
4.4. Moreover, Technological Developments
4.5. Moreover, Value Chain Analysis
4.6. Moreover, Impact of COVID-19 on Bicycle Market
Global Bicycle Market Analysis, Moreover, Insights and Forecast, 2017-2028
5.1. Key Findings / Moreover, Summary
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?
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