Press release
Chemotherapy Market Poised for 13 % Growth, Set to Hit $62.22 Billion by 2029
Chemotherapy Market
The growth of the chemotherapy market is anticipated to be driven by the rising prevalence of cancer. Cancer is a disease characterized by the uncontrolled growth and spreading of some body cells. Chemotherapy employs potent chemicals, either independently or mixed, to eradicate quickly proliferating cancer cells. The escalating prevalence of cancer is expected to amplify the need for chemotherapy. For example, the American Cancer Society Inc., a non-profit health organization based in the US, has projected that 1.9 million new cancer cases will be diagnosed in the US in 2023, up from 1.8 million in 2020. The cancer-related deaths in the US are foreseen to reach 609,820 in 2023, surging from the 606,520 speculated fatalities in 2020. Thus, the mounting prevalence of cancer is propelling the chemotherapy market.
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What Is the projected market size and growth rate for the chemotherapy market?
In recent times, there has been a swift expansion in the size of the chemotherapy market. This market is projected to escalate from $34 billion in 2024 to $37.78 billion in 2025, registering a compound annual growth rate (CAGR) of 11.1%. Factors such as the rise in cancer cases, progress in the diagnosis of cancer, ingenuity in drug development, clinical trial activities, availability of healthcare, and awareness drives have contributed to this growth in the past years.
The chemotherapy market is projected to experience a swift expansion in the upcoming years, with its size forecasted to reach $62.22 billion in 2029 due to a compound annual growth rate (CAGR) of 13.3%. The surge during this forecast period can be ascribed to factors such as the integration of immunotherapy, the incorporation of biosimilars, burgeoning markets, genetic profiling, advancements in supportive care, and regulatory incentives. There are notable trends anticipated in this period, including the development of digital health solutions, the advancement of personalized medicine, the continuity of oncology research, the incorporation of artificial intelligence (AI), progress in nanotechnology, and home-based administration of chemotherapy.
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What new trends are reshaping the chemotherapy market and its opportunities?
In the chemotherapy market, leading companies are emphasizing the development of innovative products like chemotherapy infusion pumps to establish a competitive advantage. A chemotherapy infusion pump is a device designed to administer chemotherapy drugs directly into a patient's bloodstream via an intravenous line. These pumps provide a steady and controlled distribution of drugs in the body. For example, Shanghai MicroPort Lifesciences Co. Ltd., a well-known medical technology developer and manufacturer from China, received approval from China's National Medical Products Administration (NMPA) to market its AutoEx Chemotherapy Infusion Pump in March 2022. The AutoEx pump is built to provide continuous or intermittent dosage of chemotherapy drugs to cancer patients, aiming to maintain the optimal drug concentration in the bloodstream. This approach enhances the effectiveness of the treatment while minimizing side effects. The inclusion of a dual CPU control system and a secondary power source allow high precision in drug delivery and augment patient comfort and safety during the course of chemotherapy.
What major market segments define the scope and growth of the chemotherapy market?
The chemotherapy market covered in this report is segmented -
1) By Product Type: Pump, Cannula, Catheter, Other Product Types
2) By Service: Blood Cancer, Throat Cancer, Lung Cancer, Ovarian Cancer, Stomach Cancer
3) By Drugs: Alkylating Agents, Antimetabolites, Anti-Tumor Antibiotics, Topoisomerase Inhibitors, Mitotic Inhibitors, Other Drugs
4) By Route Of Administration: Oral, Intravenous
5) By End User: Hospitals, Research Institutes, Other End Users
Subsegments:
1) By Pump: Infusion Pumps, Portable Pumps, Ambulatory Pumps
2) By Cannula: Peripheral Cannulas, Central Venous Catheters, Implantable Ports
3) By Catheter: Chemotherapy Catheters, PICC Lines
4) By Other Product Types: Safety Devices, IV Sets, Administration Sets
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Which region dominates the chemotherapy market?
North America was the largest region in the chemotherapy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the chemotherapy market report during the forecast period. The regions covered in the chemotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the chemotherapy industry growth?
Major companies operating in the chemotherapy market include GlaxoSmithKline plc, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., Merck & Co Inc., Sanofi SA, Celgene Corporation, Bristol-Myers Squibb Company, Amgen Inc., Bayer AG, Almatic Pharma LLC, AstraZeneca Pharmaceuticals, Astellas Pharma Inc., Puma Biotechnology Inc., Clovis Oncology Inc., Takeda Pharmaceutical Company Limited, Johnson & Johnson Services Inc., Mylan NV, Teva Pharmaceutical Industries Ltd., AbbVie Inc., Gilead Sciences Inc., Biogen Inc., Eisai Co. Ltd., Ipsen SA, Spectrum Pharmaceuticals Inc., Seattle Genetics Inc., Exelixis Inc., Karyopharm Therapeutics Inc., Incyte Corporation, Agios Pharmaceuticals Inc., Epizyme Inc., Blueprint Medicines Corporation, Array BioPharma Inc., BeiGene Ltd., Halozyme Therapeutics Inc., MacroGenics Inc., Immunomedics Inc., TG Therapeutics Inc., Verastem Inc.
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What Is Covered In The Chemotherapy Global Market Report?
• Market Size Forecast: Examine the chemotherapy market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the chemotherapy market for a structured understanding.
• Key Players Overview: Analyze major players in the chemotherapy market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the chemotherapy market.
• Segment Contributions: Evaluate how different segments drive overall growth in the chemotherapy market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the chemotherapy market.
• Industry Challenges: Identify potential risks and obstacles affecting the chemotherapy market.
• Competitive Landscape: Review strategic developments in the chemotherapy market, including expansions, agreements, and new product launches.
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