As per the current market research conducted by the CMI Team, the global Cancer Supportive Care Drugs Market size is expected to record a CAGR of 3.1% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 24,907.1 Million. By 2033, the valuation is anticipated to reach USD 32,783.2 Million.
Cancer Supportive Care Drugs Market: Growth Factors and Dynamics
- Increasing Cancer Incidence: The rising prevalence of cancer globally is a primary growth factor for the supportive care drugs market. As cancer rates continue to escalate, the demand for supportive care drugs to manage treatment-related side effects such as pain, nausea, and anemia is also increasing.
- Advancements in Cancer Treatment: Technological advancements in cancer treatment modalities, including chemotherapy, radiation therapy, and immunotherapy, have led to improved survival rates. However, these treatments often result in debilitating side effects, driving the need for supportive care drugs to enhance patients’ quality of life during treatment.
- Growing Aging Population: The aging population is more susceptible to cancer and its associated side effects. With a significant portion of the population aging worldwide, there is a corresponding increase in the demand for supportive care drugs to manage the symptoms and complications of cancer treatment in elderly patients.
- Expanded Indications for Supportive Care Drugs: Supportive care drugs are increasingly being utilized beyond cancer treatment to manage symptoms in patients with other chronic diseases such as autoimmune disorders and infectious diseases. This expansion of indications widens the market potential for supportive care drugs.
- Regulatory Support and Guidelines: Regulatory agencies and healthcare organizations have developed guidelines and protocols emphasizing the importance of supportive care in cancer treatment. Compliance with these guidelines drives the adoption of supportive care drugs and promotes their integration into standard cancer care protocols.
- Patient-Centric Care Approach: There is a growing focus on patient-centered care in oncology, with an emphasis on improving patients’ overall well-being and quality of life throughout their cancer journey. Supportive care drugs play a crucial role in achieving this goal by managing treatment-related symptoms and enhancing patients’ comfort and satisfaction during cancer treatment.
- Increasing Awareness and Education: There is a growing awareness among healthcare professionals and patients about the importance of supportive care drugs in mitigating treatment-related side effects and improving overall treatment outcomes. Educational initiatives and awareness campaigns aimed at both healthcare providers and patients contribute to the increased adoption and utilization of supportive care drugs.
- Technological Innovations in Drug Development: Ongoing research and development efforts in the pharmaceutical industry are driving the development of novel supportive care drugs with improved efficacy, safety profiles, and modes of administration. Technological innovations such as targeted drug delivery systems, biologics, and combination therapies offer new opportunities to address unmet needs in supportive cancer care, fueling market growth and expansion.
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Cancer Supportive Care Drugs Market: Partnership and Acquisitions
- In 2022, Novartis gained FDA approval for Pluvicto to treat adult patients with metastatic castration-resistant prostate cancer (mCRPC) who have prostate-specific membrane antigen-positive tumors and have previously received androgen receptor pathway inhibitors and taxane-based chemotherapy.
- In 2023, First Light Acquisition Group and Calidi Biotherapeutics, Inc. announced their merger to form a clinical-stage biotechnology company. Their focus is on developing oncolytic virotherapy using a stem cell-based cancer treatment delivery platform.
- In 2022, Gilead and Dragonfly have announced a research collaboration to advance natural killer cell engagers in oncology. Gilead obtained a worldwide license from Dragonfly for their 5T4 targeting immunotherapy program DF7001 as part of the agreement.
Cancer Supportive Care Drugs Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Cancer Supportive Care Drugs Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Healthcare Services: The COVID-19 pandemic led to disruptions in healthcare services, including cancer treatment centers and clinics, resulting in delays or interruptions in the administration of supportive care drugs to cancer patients.
- Reduced Patient Visits: Fear of contracting the virus and restrictions on non-urgent medical visits led to a decline in patient visits to healthcare facilities, affecting the prescription and uptake of supportive care drugs among cancer patients.
- Resumption of Cancer Treatment Services: With the easing of restrictions and implementation of safety protocols, cancer treatment centers resumed operations, facilitating the administration of supportive care drugs to patients.
- Telemedicine and Remote Monitoring: The adoption of telemedicine and remote monitoring technologies surged during the pandemic, enabling healthcare providers to remotely prescribe and monitor the usage of supportive care drugs, ensuring continuity of care for cancer patients.
List of the prominent players in the Cancer Supportive Care Drugs Market:
- Amgen Inc.
- Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Merck & Co. Inc.
- Pfizer Inc.
- Novartis International AG
- Bristol Myers Squibb Company
- Eli Lilly and Company
- Sanofi S.A.
- Takeda Pharmaceutical Company Limited
- Teva Pharmaceutical Industries Ltd.
- AbbVie Inc.
- AstraZeneca PLC
- Bayer AG
- GlaxoSmithKline plc
- Others
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