Jan 14, 2020 6:46 AM ET
Cancer Cachexia Market Size is Forecast to Grow at CAGR of 4.61 % during 2019-2024
iCrowd Newswire -
Jan 14, 2020
Cancer Cachexia Market size is forecast to reach $2.22 billion by 2024, growing at a CAGR of 4.61 % during the forecast period 2019-2024. Increasing prevalence of cachexia amongst the geriatric population and rising pipeline products for cachexia cancer patients are the factors driving the growth of the market. Increasing R&D investments and growing technological advancements for the treatment of cancer cachexia will further enhance the overall market demand of cancer cachexia during the forecast period.
- North America dominates the cancer cachexia market owing to presence of large number of drug manufacturers and advancement in novel technology.
- The growing population for cancer treatment and pipeline products for the treatment of cancer cachexia which are yet to be in the market is likely to aid in the market growth of cancer cachexia market.
- Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the cancer cachexia market report.
- Stringent regulatory requirements and delay in the treatment due to unawareness will create hurdles for the cancer cachexia market.
Therapeutics – Segment Analysis
Progestogens held the largest share in the cancer cachexia market in 2018 and will grow at a CAGR of 5.2% during the forecast period 2019-2024.This is mainly owing to the factors such as the effective and safest option for the palliative treatment of cancer cachexia which will play a significant role in the progestogens segment to maintain its market position. Current therapies focus on palliation of symptoms and the reduction of distress of patients and families rather than cure. However, Combination Therapies is estimated to be the fastest growing segment owing to its use of novel pharmaceutical agents such as Megestrol acetate, medroxyprogesterone, ghrelin, omega-3-fatty acid among others. These agents are reported to have improved survival rates as well as quality of life.
Mechanism of Action – Segment Analysis
Weight Loss Stabilizers holds a major share in the cancer cachexia market in 2018 and is estimated to grow at a CAGR of 4.5% during the forecast period 2019-2024. Cystic fibrosis, tissue wasting, wasting syndrome, and inflammatory cytokins are the major problems that occur in cancer cachexia. Anorexia nervosa is an eating disorder characterized by weight loss. Countering weight loss in cancer cachexia is vital in improving the quality of life in the patients. Cancer cachexia is characterized by the poor tolerance of antitumour treatments, notably to chemotherapy and radiotherapy, unhindered loss of muscles which may even lead to death. Approximately half of all cancer patients experience cachexia, with a prevalence of up to 86% in the last 1-2 week of life, and 45% of patients lose more than 10% of their original body weight during disease advancement. Death usually occurs when there is 30% weight loss. Therefore doctors are recommending the use of weight loss stabilizers to prevent cancer cachexia among the patients.
Geography – Segment Analysis
North America dominated the cancer cachexia market with a share of more than 45%, followed by Europe. Presence of a large number of drug manufacturers and advancing paradigm of care for cancer patients is supporting the growth in this region. Advancements in novel technology for the treatment of cancer cachexia and strong product pipeline for wasting syndrome has also helped in the growth of the cancer cachexia market in the region.
However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period. This is so because of the growing geriatric populations in countries such as Japan, China and increasing awareness among people and healthcare professionals about cancer supportive care. The high prevalence and incidence of the cancer will lead to the expansion of the global cancer cachexia market in this region.
Drivers – Cancer Cachexia Market
- Rising prevalence for novel therapies
The lack of approved drugs for cachexia treatment in patients and monotherapy administration with progestogens and corticosteroids has led cancer patients and doctors to opt for alternative therapeutic approaches. As a result, the industry is gaining traction through a combination of multiple medical and nutritional therapeutic interventions. These therapies provide better profiles of safety and efficacy. Companies ‘ increasing R&D and the availability of new drugs for cancer cachexia treatment facilitate their adoption among patients. It is predicted that this innovation will have a positive impact on overall market growth.
- Rising pipeline products for the cachexia cancer and Increasing geriatric population
The increasing prevalence of cachexia, especially among the geriatric population, such as North America, Europe, and Japan, is the main factor behind the significant growth of the market for cancer cachexia. The presence of pipeline drugs in phase 3 clinical trial, which is expected to be rolled out in the market over the next 2-3 years, is also expected to drive the market for cancer cachexia.
Challenges – Cancer Cachexia Market
- Stringent Regulatory requirements
Manufacturers of cancer cachexia drugs are discouraged from investing in the market because of the strict regulatory requirements and the long FDA approval procedure, which may impede the long-term growth of this market. The medications for cancer have therapeutic effects as well as related side effects. It is therefore important to monitor closely that the adverse effects do not surpass the therapeutic effects. Because of this, the regulations are strict and can be a challenge for the manufacturers at times. Hence, the stringent regulatory requirements are restraining the market for cancer cachexia drugs.
Cancer cachexia market outlook
Product launches, acquisitions and R&D activities are key strategies adopted by players in the cancer cachexia market. In 2018, the cancer cachexia market share is fragmented by the top ten players. Cancer Cachexia top 10 Companies are Eli Lilly and Co, Merck & Co. Inc., Novartis AG, Bristol-Myers Squibb Co., AEterna Zentaris Inc., Alder BioPharmaceuticals Inc., Boston Biomedical, Boehringer Ingelheim GmbH, , among others.
- In November 2018, National Institutes of Health (NIH) grant to National Cancer Institute (NCI) to research for APX3330 for the treatment of cancer cachexia.
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