Increase in the prevalence of cancer and rise in demand for chemotherapy-induced anemia treatment drive the growth of the global chemotherapy-induced anemia market.
PORTLAND, Ore., June 20, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Chemotherapy Induced Anemia Market by Grade (Grade 1, Grade 2, and Grade 3 & 4), Treatment (Blood transfusion, Erythropoietin-Stimulating Agents, and Iron & Other Supplements), and End User (Hospital, Cancer Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032″. According to the report, the global Chemotherapy Induced Anemia market generated $2.7 billion in 2022, and is anticipated to generate $5 billion by 2032, witnessing a CAGR of 6.3% from 2023 to 2032.
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Prime determinants of growth
The increase in the prevalence of cancer and the surge in demand for chemotherapy-induced anemia treatment drive the growth of the global chemotherapy-induced anemia market. However, the high cost of chemotherapy-induced anemia treatments is hampering the chemotherapy-induced anemia market growth. On the contrary, the development of novel therapies is expected to offer remunerative opportunities for expansion of the chemotherapy-induced anemia market during the forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$2.7 billion |
|
Market Size in 2032 |
$5.0 billion |
|
CAGR |
6.3 % |
|
No. of Pages in Report |
249 |
|
Segments covered |
Grade, Treatment, End User, and Region |
|
Drivers |
Increase in the prevalence of cancer Increase in demand for chemotherapy-induced anemia treatment |
|
Opportunities |
Development of novel therapies |
|
Restraints |
High cost of chemotherapy-induced anemia treatments Side effects associated with erythropoiesis-stimulating agents |
Covid-19 Scenario
- The COVID-19 outbreak had negative impact on the growth of the global chemotherapy-induced anemia market.
- The COVID-19 pandemi created several challenges for the market, such as disruption in the supply chains of many pharmaceutical companies, leading to shortages of therapeutic drugs and delaying the R&D activities new products.
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The grade 1 segment to maintain its leadership status throughout the forecast period
Based on grade, the grade 1 segment held the highest market share in 2022, accounting for more than three-fourths of the global chemotherapy-induced anemia market revenue, and is estimated to maintain its leadership status throughout the forecast period, due to an increase in the number of cancer patients diagnosed with early-stage chemotherapy-induced anemia. However, the same segment is also projected to manifest the fastest CAGR of 6.7% from 2023 to 2032.
The erythropoiesis stimulating agents segment to maintain its leadership status throughout the forecast period
Based on treatment, the erythropoiesis stimulating agents segment held the highest market share in 2022, accounting for more than four-fifths of the global chemotherapy-induced anemia market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the increase in use of ESAs as the primary treatment of anemia. However, it is also projected to manifest the highest CAGR of 6.5% from 2023 to 2032, due to a surge in the incidence of anemia in cancer patients.
The hospitals segment to maintain its leadership status throughout the forecast period
Based on end user, the hospitals segment held the highest market share in 2022, accounting for around two-fifths of the global chemotherapy-induced anemia market revenue, and is estimated to maintain its leadership status throughout the forecast period, due to an increase in hospital visits of cancer patients as hospitals are the primary site for cancer treatment. However, it is also projected to manifest the highest CAGR of 6.8% from 2023 to 2032, due to a surge in the prevalence of cancer and surge in demand for chemotherapy-induced anemia treatment.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly half of the global chemotherapy-induced anemia market revenue, owing to rise in the prevalence of cancer, easy accessibility to treatment options, and the strong presence of market key players. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.5% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to the increase in awareness about chemotherapy-induced anemia among patients and healthcare professionals, availability of treatment options, and increase in healthcare expenditure across the region.
Leading Market Players: –
- Pfizer Inc.
- Dr. Reddy’s Laboratories Ltd.
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Amgen Inc.
- Novartis AG
- 3SBio Group
- Bristol-Myers Squibb Company
- FibroGen, Inc.
- Astella Pharma.
The report provides a detailed analysis of these key players in the global chemotherapy-induced anemia market. These players have adopted different strategies such as product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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