Chemotherapy Market Size, Share & Trends Analysis Report By Drugs (Alkylating Agents, Antimetabolites, Anti-Tumor Antibiotics, Topoisomerase Inhibitors, Mitotic Inhibitors, Others), By Indication (Leukemia, Lymphoma, Breast Cancer, Ovarian Cancer, Lung Cancer, Myeloma, Sarcoma, Others), By Route of Drugs (Oral, Intravenous), By End User (Hospitals, Research Institutes, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global chemotherapy market size was valued at USD 9.5 billion in 2022. It is projected to reach USD 17.61 billion by 2031, growing at a CAGR of 7.1% during the forecast period (2023–2031).

One or more chemotherapeutic agents, such as anti-cancer medications, are used in chemotherapy, a cancer treatment. By destroying the dividing cells, the treatment primarily stops the division and growth of cancer cells. Additionally, it is used to treat a variety of cancers, including ovarian cancer, breast cancer, leukemia, myeloma, sarcoma, and lymphoma. Chemotherapy medications can be administered intravenously or specifically target specific cancer sites. However, some side effects are associated with this treatment, including nausea, vomiting, alopecia, hair loss, fatigue, hearing loss, mucositis, loss of appetite, and many others. The type of therapy patients receive and their physical condition influences the device selection. The material used to create a central venous access device (CVAD) is non-irritating and can be left in place for several weeks or months. The CVAD can take blood samples, administer medications, and administer fluids. The subclavian, external, and internal jugular veins are the primary locations for central venous access devices. The axillary vein, femoral vein, and cephalic vein in the deltopectoral groove are additional potential access points.

Market Dynamics

What Are the Driving Factors for Chemotherapy?

Increasing Cancer Prevalence

Cancer incidence has increased globally, overtaking cardiovascular diseases as the second leading cause of death. Environmental factors like tobacco use, altered dietary habits, urbanization, and prolonged post-reproductive lifespan cause this phenomenon. For instance, the World Health Organization (WHO) estimates that 29.4 million new cancer cases will be worldwide by 2040, up from 18.1 million in 2018. The most frequent form of cancer treatment is chemotherapy, which is frequently combined with other cancer therapies. Adjuvant chemotherapy is chemotherapy given after surgery or radiation therapy to shrink the tumor cell, as opposed to neo-adjuvant chemotherapy, which is chemotherapy given before surgery and radiation therapy. Therefore, it is anticipated that the rising incidence of cancer will increase the demand for oncology cancer drugs globally during the forecast period. Every year, approximately 400 000 kids are given cancer diagnoses. In 23 countries worldwide, cervical cancer is the most common cancer.

Increasing Infrastructure Investment for Healthcare

The rising cost of healthcare, which aids in developing its infrastructure, is another critical factor affecting the growth rate of the market for chemotherapy drugs. Government organizations' efforts to improve the healthcare infrastructure will further impact the market dynamics by increasing funding. The rising cost of healthcare, which aids in developing its infrastructure, is another critical factor affecting the growth rate of the market for chemotherapy drugs. Government organizations' efforts to improve the healthcare infrastructure will further impact the market dynamics by increasing funding. The chemotherapy market's growth rate is also anticipated to be accelerated by rising chemo awareness and an increase in the number of patients receiving these treatments. The market for chemotherapy drugs will also grow due to an aging population.

What Are the Challenges for The Chemotherapy Market?

High Associated Costs and Adverse Effects of Medications

Drugs used in chemotherapy destroy cancer cells while also harming healthy body cells. For the patients, this has a variety of adverse side effects. Bone marrow suppression, gastrointestinal issues, neuropathies, hair loss, fatigue, and skin issues are some of the typical side effects. The high price of the chemotherapy drug will slow the market's expansion. The market for chemotherapy drugs will face difficulties due to the shortage of highly qualified workers and developing nations' poor state healthcare systems. Additionally, side effects of chemotherapy medications like heart issues, low red blood cell counts, fatigue, hair loss, diarrhea, weight loss, poor lung, kidney, and liver function, decreased bone density, and public ignorance will serve as a deterrent. Other factors limiting the growth of the global market during the forecast period include strict government regulations, high drug costs, and patent expiration.

What Are the Future Prospects of Chemotherapy?

Innovative Technology Development

Chemotherapy has been essential in extending cancer patients' lives for a few more years than they otherwise would have. Injecting cancer-fighting drugs (customized nanoparticles) into contaminated areas without harming healthy cells is the most recent development in chemotherapy. It has been demonstrated that this technique keeps healthy tissue intact while removing cancerous cells. Using photon lasers, medical professionals can monitor the release of these nanoparticles—which have tubes and pores—into a patient's body and track their duration and distribution while treating cancerous cells. This strategy, which has demonstrated promise in treating cancer patients in the earlier stages and is soon to be available on the market for chemotherapeutics, is currently undergoing a clinical trial at the University of California, Los Angeles.

Regional Analysis

The global chemotherapy market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.

North America is the most significant shareholder in the global chemotherapy market and is expected to grow at a CAGR of 7.12% during the forecast period. The U.S. and Canada are included in the analysis of the chemotherapy market in North America. The presence of numerous manufacturers of chemotherapy drugs and the rise in healthcare spending are the main driving forces behind the North American market. The availability of healthcare facilities and the application of cutting-edge technologies in the study and treatment of cancer are also driving the market. Chemotherapy's ability to kill cancer cells is causing more people to choose it over other forms of treatment. The market is growing due to the rising cancer incidence in the United States. Because they have fewer side effects, are more widely available, and have favorable reimbursement policies for expensive targeted therapies, personalized, targeted therapies are widely used in these regions.

Asia Pacific is expected to grow at a CAGR of 7.93% during the forecast period. China, Australia, India, Japan, and the rest of Asia-Pacific are all included in the analysis of the Asia-Pacific chemotherapy market. It is due to increased government awareness programs and rising healthcare expenditures in this region. Additionally, the growing accessibility of generic medications will aid in reducing the market's expansion rate in this area due to the availability of skilled and qualified healthcare professionals and the rising demand for chemotherapy medications. Government cancer reimbursement policies in India are expected to fuel market expansion. The Australian government has gradually increased its investment in cancer treatment through improved access to healthcare and financial contributions to research. As a result, government spending and an increase in cancer incidence will propel the Australian market in the years to come.

Segmental Analysis

The market is segmented by drugs, indications, routes of drugs, and end users.

Based on drugs, the global chemotherapy market share is bifurcated into alkylating agents, antimetabolites, anti-tumor antibiotics, topoisomerase inhibitors, mitotic inhibitors, and others.

The alkylating agent segment is the highest contributor to the market and is expected to grow at a CAGR of 7.4% during the forecast period. By damaging the DNA, alkylating agents prevent the cell from replicating (creating copies of itself). These medications treat various cancers, including leukemia, lymphoma, Hodgkin’s disease, multiple myeloma, and sarcoma. They operate on all stages of the cell cycle. It multiplies more quickly and with fewer errors than healthy cells. Alkylating agents carry a "dose-dependent" risk of leukemia, which means that the risk is low at lower doses but increases as the total amount of the drug taken increases.

Based on indication, the global chemotherapy market is bifurcated into leukemia, lymphoma, breast cancer, ovarian cancer, lung cancer, myeloma, sarcoma, and others.

The leukemia segment is the highest contributor to the market and is expected to grow at a CAGR of 7.7% during the forecast period. Bone marrow is one of the blood-forming tissues that can develop leukemia. Numerous varieties include chronic lymphocytic leukemia, acute myeloid leukemia, and acute lymphoblastic leukemia. Many patients with leukemias that grow slowly don't exhibit any symptoms. Fatigue, weight loss, frequent infections, and easy bruising or bleeding are all possible symptoms of leukemias that proliferate. Treatment results vary greatly. Treatment for leukemias with a slow growth rate may involve monitoring. Chemotherapy for aggressive leukemias is sometimes combined with radiation therapy and stem cell transplant.

Based on the route of a drug, the global chemotherapy market is bifurcated into oral and intravenous.

The oral segment is the highest contributor to the market and is expected to grow at a CAGR of 6.98% during the forecast period. A medication used to treat cancer orally comes in tablet, capsule, or liquid form. It has the same advantages and risks as chemotherapy administered via infusion and is prescribed by your doctor, nurse practitioner, or physician's assistant. Because the medication can be taken at home, this method can occasionally be more straightforward than receiving chemotherapy by infusion at the hospital or clinic. It's critical to realize that these pills can be as potent as intravenous chemotherapy. When you take it, there is little to no physical discomfort. It is also less invasive.

Based on end users, the global chemotherapy market is bifurcated into hospitals, research institutes, and others.

The hospital segment is the highest contributor to the market and is expected to grow at a CAGR of 7.27% during the forecast period. The dominance of this market is attributed to hospitals prescribing more medications due to more frequent diagnoses made there. Additionally, the online pharmacy market is predicted to grow at the highest CAGR due to its popularity, simplicity, and convenience.

Recent Developments

• November 2022, At the San Antonio Breast Cancer Symposium 2022, AstraZeneca will present new data supporting its goal to redefine care. Fifty-five presentations, including five oral presentations, will highlight 12 AstraZeneca products and potential new products, showcasing the company's expanding leadership across various subtypes and stages of breast cancer.

• May 2022, Gland Pharma introduced bortezomib for injection to the US market. Injections of bortezomib are used to treat some cancers, such as multiple myeloma and mantle cell lymphoma.