(I-BusinessNews.Com, July 12, 2021 ) Chemotherapy-Induced Myelosuppression Treatment Market size was valued at $14.3 billion in 2020 and is expected to grow with a CAGR of 3.4% during the forecast period 2021-2026. Myelosuppression is a side effect of cancer treatment in which ability of the bone marrow to produce blood cells is decreased. The function of bone marrow to produce blood cells such as white blood cells, red blood cells and blood platelets is significantly reduced. Decrease in platelet count and reduced level of blood cells may lead to thrombocytopenia, neutropenia, anaemia. The symptoms of Myelosuppression are dizziness, fatigue, shortness of breath, infection such as cough, fever, Sore throat, chills. Myelosuppression can range from mild to severe and it is commonly seen in cancer patient that undergo extensive chemotherapy to treat cancer. Increasing prevalence of cancer across the globe coupled with rising aging population is major factor driving the growth of the market. Moreover, growing preference for Chemotherapy, radiotherapy, surgeries for treatment of cancer further enhance the overall market demand for Chemotherapy-Induced Myelosuppression Treatment during the aforesaid period.
Chemotherapy-Induced Myelosuppression Treatment Market Segment Analysis- By Drug Class
Based on the drug class, Chemotherapy-Induced Myelosuppression Treatment Market is segmented into Thrombopoietic Agents, Erythropoietin Stimulating Agents, Iron Supplements, Growth Factors and Others. The Erythropoietin Stimulating Agents segment is estimated to dominate the market during the period 2021-2026. This is attributed to rising incidence of anaemia owing to chemotherapy-induced myelosuppression. Furthermore, Erythropoietin Stimulating Agents are widely used to stimulate the production of red blood cells in bone marrow. The Thrombopoietic Agents, segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 3.0% during the period 2021-2026. This is mainly since Thrombopoietic Agents are used to increase platelets counts.
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Chemotherapy-Induced Myelosuppression Treatment Market
Chemotherapy-Induced Myelosuppression Treatment Market Segment Analysis- By Route of Administration
Based on the route of administration, Chemotherapy-Induced Myelosuppression Treatment Market is segmented into Injectable, oral. In 2020, injectable is estimated to hold major share in the market. This is mainly owing to it being a more convenient dosage form to treat myelosuppression as it reaches the systemic circulation immediately. Moreover, it offers better therapeutic properties dependable and reproducible effects also contributing to the dominance of this segment. Also, Macular Degeneration is projected to grow with a CAGR of 2.6% over the period 2021-2026. This is owing to many individuals opting for oral administration of drugs compared to injection of drugs.
Chemotherapy-Induced Myelosuppression Treatment Market Segment Analysis- By Geography
North America dominated the Chemotherapy-Induced Myelosuppression Treatment market share accounting for 42% of the market in 2020. This is mainly owing to the increasing prevalence of cancer in this region. According to, American Cancer Society, in 2018, around 1.7 million new cancer cases had been estimated to be diagnosed. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to rising expenditure on healthcare coupled with rising aging population.
Chemotherapy-Induced Myelosuppression Treatment Market Drivers
Increasing Prevalence of Cancer
Increasing prevalence of cancer across the globe which leads to rise in demand for Chemotherapy, radiotherapy, surgeries for treatment of cancer is driving the growth of Chemotherapy-Induced Myelosuppression Treatment market. According to, World Health Organization (WHO), cancer is the second leading cause of death worldwide and causes around 10 million deaths annually. Moreover, this has led to growing awareness among the people about various cancer types and the benefit of myelosuppression treatment further driving the market growth.
Rising Research and Development
Increase in research and development of advanced technology for Chemotherapy-Induced Myelosuppression Treatment drugs is also driving the market. Technological advancement in the identification of chemotherapy-induced myelosuppression targets from different organs of the body, such as bone marrow, and blood systems, such as peripheral blood. Also, for instance, U.S. Food and Drug Administration (FDA), approved G1 therapeutics trilaciclib (Cosela) for treatment of cancer patient to reduce chemotherapy-induced bone marrow suppression.
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Chemotherapy-Induced Myelosuppression Treatment Market Challenges
Long process for approval of drugs for Myelosuppression Treatment is challenging the market. Along with this high cost of drugs and other stringent regulatory processes are also further challenging the growth of the market.
Covid-19 Impact
Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. COVID-19 affects the Chemotherapy-Induced Myelosuppression Treatment market including drastic reduction in demand owing to lack of visits to healthcare facilities such as hospitals and clinics. Also owing to spread of coronavirus has caused workforce and staffing issues, and procedural prioritisation. These affect the Chemotherapy-Induced Myelosuppression Treatment market by cancellation of scheduled visits at hospitals and owing to patient concerns about the virus.
Chemotherapy-Induced Myelosuppression Treatment Market Landscape
Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the Chemotherapy-Induced Myelosuppression Treatment Market. Chemotherapy-Induced Myelosuppression Treatment top 10 companies are Teva Pharmaceutical Industries Ltd., Amgen Inc., Janssen Global Services, LLC, Pfizer Inc., Mylan NV, Mission Pharmacal Company, Myelo Therapeutics GmbH, Dova Pharmaceuticals, Partner Therapeutics, Inc. and Novartis AG.
Acquisitions/Product Launches:
In November 2019, Sandoz, a Novartis division received approval from FDA for its biosimilar Ziextenzo. It is used to decrease the incidence of febrile neutropenia.
Key Takeaways
In 2020, North America dominates the Chemotherapy-Induced Myelosuppression Treatment Market owing to rising incidence of cancer.
Increasing expenditure on healthcare across the globe is driving the market growth of Chemotherapy-Induced Myelosuppression Treatment.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Chemotherapy-Induced Myelosuppression Treatment Market report.
Stringent regulatory process for approval of drugs are challenging the growth of the market.
Related Reports :
A. Radiation-Induced Myelosuppression Treatment Market
https://www.industryarc.com/Research/Radiation-Induced-Myelosuppression-Treatment-Market-Research-508285
B. Chemotherapy-induced Anemia Market
https://www.industryarc.com/Research/Chemotherapy-induced-Anemia-Market-Research-509929
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