Global Cancer Cachexia Market: Snapshot
The global market for cancer cachexia market is currently in the budding stage. On the grounds of promising clinical pipeline and imminent regulatory approvals, this market is expected to witness exceptional rise over the coming years. The unmet need for the treatment of cancer cachexia in developing economies is also expected to drive the growth of this market substantially in the near future.
In 2016, the global cancer cachexia market stood at US$1.63 bn. Analysts project the opportunity in this market to proliferate at a CAGR of 4.90% over the period from 2017 to 2025 and attain a value of US$2.51 bn by 2025 end.
Progestogens to Remain Witnessing Strong Demand
The global market for cancer cachexia is assessed on the basis of therapeutics, mechanisms of action, and the distribution channels. Based on the therapeutics, the market is categorized into progestogens, corticosteroids, and combination therapies. Among these, progestogens are considered to be the best available treatment option for cancer-related cachexia across the world. The popularity of progestogens is so much so that these are the only drugs approved in Europe for the treatment for cancer cachexia. This drug segment is expected to remain on the top over the forthcoming years.
Based on the mechanism of action, the market is classified into appetite stimulators and weight loss stabilizers. In terms of distribution channels, the market is bifurcated into hospital stores, retail pharmacy stores, and online pharmacy.
Increasing Awareness about Cancer Supportive Care to Support North America Retaining Supremacy
In terms of the geography, North America, with a share of 40%, led the global market for cancer cachexia in 2016. This regional market is projected to remain leading in the near future, thanks to the increasing awareness among people and healthcare professionals about cancer supportive care. Apart from this, the presence of pipeline drugs in phase 3 clinical trial, which will be rolled out in the market over the next 2-3 years, are also expected to drive the market for cancer cachexia in North America in the near future. Europe, which has been following North America closely, is predicted to surface as a more lucrative market for cancer cachexia over the forthcoming years, owing the continued practice of offering discounts on drugs, specifically used for the treatment of cancer, by manufacturers in this region.
Similarly, Asia Pacific is also projected to report attractive opportunities for the growth of the worldwide market for cancer cachexia market in the years to come. The cancer cachexia market in Asia Pacific is expected to register a significantly high-paced growth in the near future, thanks to the presence of massive pool of undiagnosed patients, rapid urbanization, rise in disposable income, increasing government support for healthcare, and the augmenting awareness about cancer cachexia among people here.
Æterna Zentaris Inc., Alder BioPharmaceuticals Inc., Aphios Corp., Eli Lilly and Co., GTx Inc., Helsinn Group, Merck & Co. Inc., Novartis AG, Bristol-Myers Squibb Co., and XBiotech Inc. are the main players functioning in the global market for cancer cachexia. The market demonstrates a highly competitive business landscape with players competing on the basis of innovation and technological advancements in their offerings.
This post was originally published on Space Market Research