Radiation Induced Myelosuppression Treatment Market Expanding at a Steady 3.1% CAGR, The Market Valuation is Projected to Top US$ 3.5 Billion in 2028
A new market research study on global radiation-induced myelosuppression treatment forecasts steady growth for the market in the next few years. Future Market Insights projects a moderate, just-under 4% yearly growth outlook, in 2022 and ahead.
Rapidly improving healthcare infrastructure and reimbursement scenario has been a major booster for the healthcare industry in developing regional markets.
With incessantly increasing number of cancer cases, it is more likely that the subsequent demand for a wide range of treatments adopted to treat cancer patients would also remain on a constant rise over the course of coming years.
Radiation therapy has been a significant part of cancer treatment and the consistently high success rate associated with radiotherapy is projected to further push demand for radiation-induced myelosuppression treatment worldwide.
Nutropenia is foreseen to generate maximum demand for radiation-induced myelosuppression treatment, whereas injectables are identified to hold a substantial share in the total market value, based on the route of administration of radiation-induced myelosuppression treatment.
Thrombocytopenia and anemia are likely to present lucrative opporunities for radiation-induced myelosuppression treatment providers.
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Report tracks key factors driving revenue growth of the market –
- Increasing prevalence of cancers
- Early diagnosis, promising improved chances of positive outcomes
- Fostering R&D funds supporting cancer research
- Strong product pipeline
- Bolstering adoption of chemo-radiotherapy in cancer treatment
In the backdrop of patent expiry, a majority of market leaders are shifting their focus to the expansion of product pipeline of a wide range of innovative formulations, likely to shape the radiation-induced myelosuppression treatment landscape.
- Myelo001 by Myelo Therapeutics GmbH recently received an FDA approval as an orphan drug to be used in the ARS (acute radiation syndrome) treatment.
- Mylan NV and Pfizer Inc. also reveived FDA approvals for their recently launched biosimilars – Epogen and Neupogen, and Neulasta respectively.
Patent expiry of originator biologics formulations is creating investment opportunities in biosimilars production – for the operators in radiation-induced myelosuppression treatment landscape.
As there is a considerable cost difference of around 20% between originator biologics and biosimilars, patients are inclined more towards an economical means of treatment, thereby fueling the scope of penetration of radiation-induced myelosuppression treatment in coming years.
Backed by a majority of established players housing strong bases across North America, especially the US, the report indicates a steady growth outlook for the radiation-induced myelosuppression treatment market in the region.
North America will reportedly continue to account for over 65% share in the global market value.
New product launches currently mark the top developmental strategy adopted by leading companies competing in the radiation-induced myelosuppression treatment market.
A majority of key players are also identified to focus on enhancing their geographical foothold in global radiation-induced myelosuppression treatment landscape.
The report in a distinct section covers some of the key competitors operating in radiation-induced myelosuppression treatment marketplace, emphasizing their financial as well as strategic profiles in depth.
A few of the profiled companies include Pfizer Inc., Janssen Pharmaceutical NV, Janssen Global Services, LLC (Johnson & Johnson), Amgen Inc., Mylan NV, Teva Pharmaceutical Industries Ltd., Novartis AG, and Partner Therapeutics, Inc.
In the highly consolidated competitive landscape of global radiation-induced myelosuppression treatment, the three top ranking companies, i.e. Janssen Pharmaceutical NV, Amgen Inc., and Teva Pharmaceutical Industries Ltd. dominate in terms of market value.
These players continue to hold winning revenue shares in the radiation-induced myelosuppression treatment owing to strong global presence and a considerable number of new drug approvals.
Established companies are entering strategic partnerships and collaborations with regional leaders, in an effort to achieve better penetration into regional markets.
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Radiation-Induced Myelosuppression Treatment Market by Category
Indication:
- Neutropenia
- Anemia
- Thrombocytopenia
Drug Class:
- Growth factors
- Erythropoietin stimulating agents
- Thrombopoietic agents
- Iron supplements
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
- Drug stores
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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