PUBLISHER: Allied Market Research | PRODUCT CODE: 1344454
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344454
According to a new report published by Allied Market Research, titled, "Chemotherapy Induced Anemia Market," The chemotherapy induced anemia market was valued at $2.7 billion in 2022, and is estimated to reach $5 billion by 2032, growing at a CAGR of 6.3% from 2023 to 2032. Chemotherapy-induced anemia (CIA) is a specific type of anemia that occurs as a side effect of chemotherapy treatment for cancer. Chemotherapy drugs can disrupt the normal functioning of the bone marrow, which is responsible for producing red blood cells. As a result, there is a decrease in the number of red blood cells circulating in the body, leading to anemia. CIA can cause various symptoms such as fatigue, weakness, shortness of breath, dizziness, and pale skin. These symptoms can significantly impact the quality of life and overall well-being of cancer patients undergoing chemotherapy. The treatment of CIA includes blood transfusion, erythropoiesis-stimulating agents (ESAs), and iron & other Iron supplementation.
The chemotherapy induced anemia market growth is driven by increase in prevalence of cancer, rise in demand for targeted therapies, and surge in aging population. The increasing prevalence of cancer and the associated use of chemotherapy is expected to continue to drive the growth of the chemotherapy-induced anemia market. For instance, in February 2022, the World Health Organization (WHO) estimated that approximately 400,000 children develop cancer every year across the globe. In addition, a study conducted by the National Center for Biotechnology Information (NCBI) in April 2022 estimated the occurrence rate of anemia was about 41.1% in patients suffering from breast cancer. Therefore, the rise in prevalence of cancer drives the growth of the market. In addition, older people are more likely to develop cancer and anemia, which further fuels the demand for drugs to treat chemotherapy induced anemia.
Rise in demand for chemotherapy induced anemia is the key factor driving the growth of chemotherapy induced anemia market. This is attributed to an increase in appearance of anemia, rise in ageing population, and availability of effective treatment. The aging population is more susceptible to developing cancer, leading to a higher demand for CIA treatment. In addition, development of new and more effective treatments for CIA, including erythropoiesis-stimulating agents (ESAs) and iron supplementation, has expanded the options available for managing anemia during chemotherapy. Iron supplement is an effective treatment for chemotherapy induced anemia as it has low side-effects as compared with other treatment options.
For instance, in October 2022, the World Health Organization (WHO) estimated that the global population aged 60 years and over is expected to double by 2050 to reach 2.1 billion. Moreover, according to the National Center for Biotechnology Information (NCBI), older adults are more likely to experience anemia as a result of cancer treatment. Furthermore, increase in awareness about chemotherapy induced anemia among patients and healthcare professionals has led to an increase in the number of patients seeking treatment for CIA. In addition, rise in government initiatives to improve cancer care and the treatment of chemotherapy-induced anemia (CIA) further propels the market growth. For instance, the federal government announced in May 2020 that it would be investing $150 million over five years in the Canadian Partnership against Cancer, with a focus on improving access to cancer care and support for patients. Thus, a rise in government initiatives further boosts the market growth.
However, the high cost of chemotherapy induced anemia therapies and side effects associated with the ESAs limit the adoption of these treatments, which negatively impacts the market growth. For instance, the cost of blood transfusion ranges from $200 to $300 per pint of blood. Thus, the high cost of blood transfusion and other drugs negatively impact market growth. On the other hand, development of novel therapies for the treatment of chemotherapy induced anemia with lower side effects and increase in R&D activities for developing advanced therapies are expected to create immense opportunities for the growth of chemotherapy induced anemia market during the forecast period. The chemotherapy induced anemia market is segmented on the basis of grade, treatment, end user, and region. On the basis of grade, the market is classified into grade 1, grade 2, and grade 3&4. As per treatment, the market is segmented into blood transfusion, erythropoietin-stimulating agents, and iron & other supplements.
On the basis of end user, the market is segmented into hospitals, cancer centers, and others. The other segment includes cancer research centers, cancer rehabilitation centers, and home use. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global chemotherapy induced anemia market are Pfizer Inc., Dr. Reddy's Laboratories Ltd., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Amgen Inc., Novartis AG, 3SBio Group, Bristol-Myers Squibb Company, FibroGen, Inc., and Astella Pharma