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Global Cancer Cachexia Market 2024 Future Development And Top Key Players Analysis Till 2033
Global Cancer Cachexia Market
According to The Business Research Company's, The cancer cachexia market size has grown strongly in recent years. It will grow from $2.33 billion in 2023 to $ 2.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to an improved understanding of cancer biology, the prevalence of cancer, an increased aging population, a greater focus on patient-centered care, expanding treatment options, and growing awareness among healthcare providers.
The cancer cachexia market size is expected to see strong growth in the next few years. It will grow to $3.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising awareness about cachexia management, expanding geriatric population, growing adoption of novel therapeutic approaches, rising healthcare expenditure, and favorable government initiatives. Major trends in the forecast period include increasing research and development efforts, expanding therapeutic options, improved diagnosis rates, adoption of novel treatment modalities, and advancements in supportive care strategies.
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of the cancer cachexia market going forward. Cancer refers to a condition where abnormal cells proliferate uncontrollably in the body, forming tumors and disrupting normal bodily processes. The cases of cancer is attributed to various factors, including lifestyle changes, environmental factors, an aging population, genetic predisposition, improved diagnostic methods leading to earlier detection, and increased awareness, prompting more people to seek medical attention. Advancements in medical technology and a greater understanding of cancer and its complications are resulting in more frequent diagnoses and reporting of cancer cachexia. Healthcare professionals are improving their ability to identify cachexia symptoms, facilitating earlier interventions and treatment commencement. For instance, in December 2023, according to the Australian Bureau of Statistics, an Australia-based government agency for national statistics, roughly 1.8% of the population, or 456,200 individuals, were reported to have cancer in Australia in 2022. Furthermore, in December 2021, according to the Australian Institute of Health and Welfare, an Australia-based government agency for health and welfare, approximately 151,000 Australians received a cancer diagnosis, equating to around 413 diagnoses per day in 2021. Therefore, the increasing prevalence of cancer is driving the growth of the cancer cachexia market.
Major companies operating in the cancer cachexia market are developing innovative medication, such as ghrelin receptor agonists, to address the debilitating symptoms and complications associated with cachexia, aiming to improve patient outcomes and quality of life. A ghrelin receptor refers to a medication that activates the ghrelin receptor in the body, specifically aimed at addressing cancer cachexia. For instance, in April 2021, Helsinn, a Switzerland-based pharmaceutical company, launched Adlumiz (anamorelin) in Japan for treating cancer cachexia in various cancers. Adlumiz (anamorelin) is a medication designed as a ghrelin receptor agonist to address cancer cachexia in various malignant tumors, including non-small cell lung cancer, gastric cancer, pancreatic cancer, and colorectal cancer. Japanese health authorities approve Adlumiz, which has shown effectiveness in increasing body weight, muscle mass, and appetite in cancer cachexia patients. Anamorelin is a selective ghrelin receptor agonist which stimulates pathways to positively regulate body weight, muscle mass, appetite, and metabolism. The anticipated benefits of Adlumiz outweigh the identified risks, providing a promising option for adult cancer patients experiencing cachexia symptoms.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Bayer AG, Sanofi SA, Bristol Myers Squibb Company, AstraZeneca plc, Novartis International AG, Fresenius SE & Co. KGaA, GlaxoSmithKline plc, Takeda Pharmaceutical Company, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Daiichi Sankyo Company Limited, Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Kyowa Kirin Co. Ltd., Hikma Pharmaceuticals plc, Endo International plc, Aspen Pharmacare Holdings Limited, Lupin Limited, Mallinckrodt plc, Akorn Inc., Aeterna Zentaris, XBiotech Inc.
Cancer Cachexia Market 2024 Key Insights:
• The cancer cachexia market size is expected to see strong growth in the next few years. It will grow to $3.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Impact Of Cancer Prevalence On The Cancer Cachexia Market
• Innovative Treatments In The Cancer Cachexia Market
• North America was the largest region in the cancer cachexia market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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