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Chemotherapy-Induced Anemia Market Report 2024-2033 | Size, Trends, Growth Analysis, Insights
Chemotherapy-Induced Anemia Market Report
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According to The Business Research Company's, The chemotherapy-induced anemia market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased prevalence of cancer and chemotherapy treatments, aging population leading to higher cancer incidence, expansion of chemotherapy drugs and regimens, improvement in overall cancer survival rates, awareness and diagnosis of anemia as a side effect
.
The chemotherapy-induced anemia market size is expected to see strong growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to development of supportive care in oncology, rise in healthcare expenditure and infrastructure, personalized medicine and targeted cancer therapies, integration of biomarker-driven treatment approaches, increasing focus on early detection and intervention, integration of digital health technologies in patient management. Major trends in the forecast period include innovation of novel chemotherapy agents, integration of ml, advancements in cancer research and treatment protocols, integration of ai, collaboration between pharmaceutical companies and healthcare providers.
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Market Drivers and Trends:
The high prevalence of cancer and anemia is expected to propel the growth of the chemotherapy-induced anemia market going forward. Cancer is a disease where somebody's cells grow out of control and spread to other body regions. In cancer patients receiving aggressive chemotherapy, whether with or without radiation therapy, cancer and chemotherapy-induced anemia (CIA) are frequent occurrences. The medication stimulates the production of red blood cells in the bone marrow and can be used to treat chemotherapy-induced anemia. For instance, in 2023, according to Cancer Research UK, a UK-based independent cancer research organization, the incidence of head and neck cancer in the UK is projected to rise by 3% between 2023 and 2025, while deaths due to head and neck cancers are expected to increase by 12% between 2023 and 2025. Therefore, the high prevalence of cancer and anemia drives the growth of the chemotherapy-induced anemia market.
Major companies in the chemotherapy-induced anemia market are focused on developing innovative therapy, such as myeloprotection therapy, for extensive-stage small cell lung cancer and to gain a competitive edge in the market. Myeloprotection therapy is a medical approach aimed at safeguarding bone marrow from damage caused by chemotherapy, reducing associated complications. For instance, in February 2021, G1 Therapeutics Inc., a US-based biopharmaceutical company, received FDA approval for COSELA (trilaciclib), the first myeloprotection therapy designed to reduce chemotherapy-induced myelosuppression, a condition characterized by a reduction in blood cell production in the bone marrow, and it can lead to complications such as neutropenia, anemia, and thrombocytopenia in patients with extensive-stage small-cell lung cancer. Administered before chemotherapy, COSELA protects bone marrow, reducing severe neutropenia incidence and duration. It offers multilineage protection, impacting anemia and the need for rescue interventions.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Amgen Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Fresenius Kabi AG, Hospira Inc., Dr. Reddy's Laboratories Ltd., Biocon Ltd., 3SBio Group, FibroGen Inc., Karger AG, Avesthagen Ltd., Blausen Medical Communications Inc., Aileron Therapeutics Inc.
Chemotherapy-Induced Anemia Market 2024 Key Insights:
• The chemotherapy-induced anemia market size is expected to see strong growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Rising Cancer And Anemia Cases Propel Growth In Chemotherapy-Induced Anemia Market
• Innovative Therapy For Extensive-Stage Small Cell Lung Cancer
• North America was the largest region in the chemotherapy-induced anemia 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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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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