Palliative care, also known as cancer supportive care, focuses on alleviating the adverse effects of cancer treatments on the patient. In cancer palliative care, supportive drugs are used to reduce the side effects of cancer treatment. Due to factors such as low blood cell counts, cancer therapy may be terminated, or doses must be lowered in many cases. In such cases, cancer supportive drugs, such as CSFs, allow patients to continue cancer treatment, and in other cases, it authorises higher cancer therapy dosages. Cancer is one of the main reasons for death worldwide, so there has been an increased emphasis on cancer medicines. The adverse effects of cancer treatments include fatigue, discomfort, reproductive problems, depression, heartburn, sexual difficulties, and bone abnormalities. Considering these side effects, supportive care drugs are favoured during cancer treatment. These elements are launched to push the market for cancer supportive care drugs. However, several adverse effects associated with cancer supportive care drugs may restrict market expansion.
The pharmaceuticals used in the cancer supportive care market are segmented by drug class, cancer type, and geography. In addition to granulocyte-colony stimulating factors (g-csfs), erythropoietin-stimulating agents (esas), antiemetics, bisphosphonates, opioids, and nonsteroidal anti-inflammatory drugs (nsaids), other drug classes are used in the treatment of cancer. It is anticipated that North America will lead the market, with the United States having a substantial proportion. However, Asia-Pacific is predicted to rise at the highest CAGR throughout the projected period due to factors such as the rising incidence of cancer and the expansion of multinational pharmaceutical corporations in emerging Asian economies.
Additionally, hospital outpatient evaluation & management (E&M) visits were reduced by 74%, E&M visits for new patients decreased by 70%, and E&M visits for current patients decreased by 60%. Around the second quarter of 2021, the overall condition of the majority of regions returned to normal. The rising incidence of cancer and the ageing of the population are two of the most influential factors driving market expansion. According to Globocan, the number of new cancer cases would climb by 47 % between 2020 and 2040, reaching 28.4 million. In addition, the elderly are more susceptible to cancer, and the life expectancy in developing countries has topped 80 years. According to the SEER database of the National Cancer Institute of the United States, about two-thirds of all new cancer cases are diagnosed in adults aged 65 and older, showing that ageing can increase susceptibility to this illness. With the surge in technological advances, significant companies are focusing on developing novel cancer-targeted medications. It has fewer side effects than standard treatments like chemotherapy. These factors can potentially impede market expansion over the forecasted time frame.
The market for cancer supportive care pharmaceuticals is driven by several factors, including the rising incidence of cancer, the adverse side effects associated with using cancer medications, and the ageing of the global population. In addition, an increase in the usage of biosimilars and a rise in government healthcare spending contribute to the growth of the market for cancer supportive care drugs. However, the discovery and preference of targeted therapy medications with fewer side effects by patients and clinicians, which directly impacts the growth of the market for cancer supportive care drugs, may hinder the industry's progress. In addition, the demanding approval process for biosimilars impedes the expansion of the market. In contrast, the increase in research and development, the number of cancer supportive care treatments in development, and the high growth potential in underdeveloped emerging nations provide manufacturers with an opportunity to participate and benefit from the market.
The global market has been further segmented by their respective geographical locations: North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. It is anticipated that the market in developed regions such as North America, which includes Europe, will experience a decline during the projection period due to the introduction and rapid adoption of biosimilar products and limits on the number of prescription opioids that can be consumed. This is because of the introduction and rapid adoption of biosimilar products as well as limits on the number of prescription opioids consumed. Additionally, these regions have a high adoption rate of personalised and targeted therapies because these treatments have fewer adverse effects, increased awareness about the availability of such therapies, and reimbursement policies for high-cost targeted therapies are more favourable. These factors contribute to the high adoption rate of personalised and targeted therapies.
In addition, these regions have a high acceptance rate of personalised and targeted treatments due to the decreased number of adverse effects linked with them. There is a significant shortage of facilities that give cancer patients supportive care in developing nations, particularly in Asia and the Pacific, Latin America, the Middle East, and Africa. These regions have the lowest levels of economic development overall. Chemotherapy is still the most common treatment in these regions due to the inadequate availability of other medical services and the low levels of personal wealth available for discretionary spending. It is anticipated that the factors listed above will be the primary impetus behind expanding the market in the areas indicated above.
The major players in the global Cancer Supportive Care Drugs market – Amgen, Inc; Merck & Co., Inc.; Johnson & Johnson Services, Inc.; Heron Therapeutics, Inc.; Novartis AG; GlaxoSmithKline plc (GSK); F. Hoffmann-La Roche Ltd.; Helsinn Healthcare SA.