Radiation-Induced Myelosuppression Treatment Market Projected to Flourish as Incidences of Cancer and its Early Diagnosis Increase: FMI Study

The global incidence of cancer is growing rapidly, which is a major factor that is expected to fuel the radiation-induced myelosuppression treatment market over the forecast period. According to the latest research by the company, the global radiation-induced myelosuppression treatment market is projected to account for a significant market value by the end of 2028. The report also projects significant growth potential for the radiation-induced myelosuppression treatment market throughout the forecast period.

The early diagnosis of cancer in developed as well as developing countries is expected to play a critical role in the growth of the radiation-induced myelosuppression treatment market. Early diagnosis increases the chances of positive outcomes in the treatment of cancer, and radiation-induced myelosuppression treatment is one of the important aspects of successful results. Early diagnosis in majority of the developing countries is still limited, however, the radiation-induced myelosuppression treatment market is expected to grow owing to the increasing healthcare expenditure of various countries.

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The strong product pipeline of various manufacturers in the radiation-induced myelosuppression treatment is also expected to be a major revenue driving factor. The focus of various manufacturers on extending their product pipeline following the expiry of the patents of various novel formulations in radiation-induced myelosuppression treatment is expected to significantly boost the usage of these products due to their comparatively lower prices as well as their widespread acceptance for the treatment of radiation-induced myelosuppression treatment. In Sep 2018, FDA granted an orphan drug status to Myelo Therapeutics GmbH’s Myelo001 for the treatment of Acute Radiation Syndrome (ARS) in radiation-induced myelosuppression treatment. Pfizer Inc. received approval for a biosimilar of Epogen and Neupogen, and Mylan NV received approval for the first Neulasta biosimilars in the recent years for radiation-induced myelosuppression treatment.

The company has segmented the global radiation-induced myelosuppression treatment market based on drug class, indication, route of administration, distribution channel and region. In terms of revenue, the growth factors segment by drug class in radiation-induced myelosuppression treatment market is expected to be the dominant segment by revenue in the radiation-induced myelosuppression treatment market over the forecast period. By indication, the neutropenia segment of the radiation-induced myelosuppression treatment market is expected to hold a significant share over the forecast period.

By route of administration, the injectable segment of the radiation-induced myelosuppression treatment market is expected to be the most lucrative segment during the forecast period in the radiation-induced myelosuppression treatment market. By distribution channel, the retail pharmacies is expected to be the most lucrative segment in the radiation-induced myelosuppression treatment market over the forecast period. By region, the North America radiation-induced myelosuppression treatment market is among the most lucrative segments in the global radiation-induced myelosuppression treatment market.

The increasing usage of radiotherapy for cancer treatment due to higher efficacy in reducing the growth of cancerous cells alone or as an adjuvant therapy is also expected to enhance the revenue generation in the radiation-induced myelosuppression treatment market. Earlier, radiation and surgery were treated as the end stage therapies for the management of cancer, however, the high success rate associated with the usage of radiotherapy has significantly boosted the radiation-induced myelosuppression treatment market.

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The usage of chemotherapy alone is not as effective as chemo-radiotherapy for cancer patients, and this is one of the reasons why radiotherapy is widely adopted, thus boosting the radiation-induced myelosuppression treatment market. As per the AAC Journal, out of 10.5 million cancer survivors in 2016, around 3.05 million received radiotherapy and the number is expected to increase to up to 3.38 million by 2020 in the U.S., which is another factor driving the radiation-induced myelosuppression treatment market.

The report also profiles some of the key companies operating in the radiation-induced myelosuppression treatment market, which include Amgen Inc., Janssen Pharmaceutical NV, Teva Pharmaceutical Industries Ltd., Mylan NV, Novartis AG, Pfizer Inc., Janssen Global Services, LLC (Johnson & Johnson), Partner Therapeutics, Inc., among others.