Press release
The Chemotherapy Drugs Market to look through AI-based genomics at a CAGR of 7.7%
The global market for chemotherapy drugs recorded a historic CAGR of 6.4% in the last 9 years from 2012 to 2021. Overall, chemotherapy drug sales accounted for 87.6% of the global oncology cancer drugs market in 2021.
The healthcare vertical is seeing an influx of self-moving smart devices, which ought to extend support to the medical staff by curtailing their supply management or sanitation-related chores. Smart helpers could be used for remote monitoring of oxygen saturation and blood pressure levels for the patients, as they are of utmost importance regarding their health condition. This would be the scenario with Chemotherapy Drugs Market in the subsequent decade.
The chemotherapy drugs market is a segment of the larger pharmaceutical market, and is characterized by the use of chemical substances to treat cancer and other diseases. These drugs work by inhibiting the growth and division of cells, either by killing them or by stopping them from multiplying.
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During chemotherapy drugs treatment, many healthy normal cells get affected. According to the American Cancer Society Cancer statistics report 2018, newly diagnosed cancer cases is estimated to be 1,735,350 and around 609,640 cancer deaths occur in the United States.
Moreover, according to Cancer Research U.K., 17 million new cancer cases were estimated worldwide and 9.6 million cancer deaths were recorded in 2018 and are projected to increase at an incidence rate of 62% worldwide during the forecast period 2018-2040.
Chemotherapy has both pros and cons. The global chemotherapy drugs have significant potential that will drive the market. After an early stage cancer surgery, most of the oncologist follow chemotherapy drugs treatment to prevent further multiplication of cancerous cells which as a result will boost the chemotherapy drugs market.
Apart from this, chemotherapy drugs have multiple benefits such as it helps to shrink the tumor cells, it reduces the growth of cancerous cells thereby increasing the life span of a person which as a result will increase the growth of chemotherapy drugs market.
Development of treatment-related side effects is one of the significant disadvantages which may restrain the growth of chemotherapy drugs. Chemotherapy treatment is a time-consuming and lengthy process.
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Market Segmentation:
Types
Alkylating Agents
Antitumor Antibiotics
Plant Alkaloids
Antimetabolites
Topoisomerase Inhibitors
Miscellaneous Antineoplastic
Route of administration
Intravenous
Oral
Intramuscular
Subcutaneous
Distributional channel.
Hospitals
Ambulatory Surgical Centers
Clinics
Others
North America and Europe collectively hold the largest share in the chemotherapy drugs market due to advanced healthcare facilities which provide effective treatment options and also increase launch of new cancer drugs and its approval from FDA and EMA which as a result will increase the chemotherapy drugs market.
The Asia Pacific also have the potential to increase the global chemotherapy drugs market due to the rising prevalence of cancer in this region and increasing government initiatives for public health policies is likely to drive the global chemotherapy drugs market.
The Middle East and Africa are shown to have less potential in chemotherapy drugs market due to low budget in healthcare spending, inappropriate treatment facilities which overall may impact the overall chemotherapy drugs treatment.
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