PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1518526
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1518526
The global chemotherapy-induced neutropenia treatment market size will register 3.7% CAGR during 2024-2032, owing to favorable regulatory pathways for approval of biosimilars and growing acceptance among prescribers and patients.
Prevalence of chronic diseases including cancer is a major growth factor for the market. According to the CDC report, in the US, 1.7 million people are diagnosed with cancer annually, with over 600,000 fatalities, making it the second leading cause of death. The cost of cancer care is continually increasing and is projected to exceed $240 billion by 2030. As the cases of cancer surge worldwide, so does the use of chemotherapy as a treatment modality, increasing the likelihood of chemotherapy-induced neutropenia (CIN). This growing demand for rational management of CIN highlights the viability of innovative treatment options such as biosimilars. By providing cost-effective alternatives to conventional treatments, biosimilars address the growing need for accessible and cost-effective neutropenia treatments, which is driving market growth.
Chemotherapy-induced neutropenia treatment industry is classified based on treatment type, drug type, route of administration, distribution channel, and region.
The biosimilars segment will grow rapidly through 2032, as they offer cost-effective alternative to conventional therapies. The increasing availability of biosimilars for the treatment of neutropenia has given healthcare providers the opportunity to optimize treatment regimens while reducing healthcare costs. Additionally, as healthcare infrastructure worldwide is under increased pressure to contain costs without compromising patient care, the introduction of biosimilars is an attractive solution to lighten the financial burden while maintaining safety standards, which will drive growth in the segment.
The oral formulations segment will grow moderately during 2024-2032, due to the convenience and flexibility. The development of oral solutions to treat neutropenia enable patient-centered treatments so that people can receive treatment on an outpatient basis or even in the comfort of their own home. In addition, innovations in drug delivery techniques have increased the bioavailability and pharmacokinetics of oral formulations, further increasing their use.
Europe chemotherapy-induced neutropenia treatment industry size will grow strongly between 2024 and 2032, due to robust healthcare infrastructure and high incidence of cancer. Countries such as Germany, the United Kingdom and France are leading industry growth, fueled by investments in oncology and the adoption of advanced treatments. In addition, collaboration between pharmaceutical companies and research institutes enables the development & commercialization of new treatments for neutropenia. The region's proactive approach to cancer treatment and favorable policies contribute to its notable position in the global market.