Radiation-Induced Myelosuppression Treatment Market Size Estimated to Reach $3.2 Billion by 2026
Research Reports
Sep 07, 2021
Radiation-Induced Myelosuppression Treatment Market size is estimated to reach $3.2 billion by 2026, growing at a CAGR of 3.4% during the forecast period 2021-2026. Radiation-Induced Myelosuppression is a side effect of anticancer radiotherapy that causes treatment interruptions and also increases the risk of infections. It decreases the ability of bone marrow to produce blood cells and results in fewer white blood cells and red blood cells. The most common side effects of myelosuppression include dizziness and shortness of breath and may also exhibit pale skin and nail beds. Increase in the adoption of erythropoietin stimulating agents for the treatment of anaemia, rise in the prevalence of neutropenia and thrombocytopenia in developed nations, increase in the availability of drugs, and growing risk of hemodilution in pregnant women are the factors that are set to drive the growth of the Radiation-Induced Myelosuppression Treatment Market for the period 2021-2026.
Radiation-Induced Myelosuppression Treatment Market Segment Analysis-By Indication
The Radiation-Induced Myelosuppression Treatment Market based on the Indication can be further segmented into Neutropenia, Anaemia, and Thrombocytopenia. The Neutropenia segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 4.3% over the period 2021-2026. This growth is owing to the factors such as increase in the prevalence of cancer cases and rise in the research and development activities by the key companies to develop novel therapies for the treatment of neutropenia. The rise in the demand for radiation-induced neutropenia treatment in developed nations is driving the growth of the Radiation-Induced Myelosuppression Treatment Market. The Anaemia segment held the second largest share in 2020 owing to the factors such as rise in the social health schemes launched by governments, growing risk of hemodilution in pregnant women, and increase in the incidences of iron deficiency anemia in developing nations.
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Radiation-Induced Myelosuppression Treatment Market Segment Analysis-By Drug Class
The Radiation-Induced Myelosuppression Treatment Market based on the Drug Class can be further segmented into Erythropoietin Stimulating Agents, Thrombopoietic Agents, Iron Supplements, and Others. The Erythropoietin Stimulating Agents segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 3.9% over the period 2021-2026. This growth is owing to its benefits such as lower rates of transfusion and improves quality of life, including better cognition and reduced fatigue. The increase in the demand for erythropoietin stimulating agents for the treatment of anaemia is driving the growth of the Radiation-Induced Myelosuppression Treatment Market. The Thrombopoietic Agents segment held the second largest share in 2020 owing to the factors such as increase in the demand for thrombopoietic agents for the treatment of myelosuppression and growing research and development activities by the key players.
Radiation-Induced Myelosuppression Treatment Market Segment Analysis-By Geography
North America held the largest share with 30% of the overall market in 2020. The growth in this segment is owing to the factors such as rise in the availability of innovative treatment options, increasing focus on developing new products by the key players, and growing number of patients suffering from thrombocytopenia and neutropenia. The increase in the demand for erythropoietin stimulating agents for the treatment of anaemia is driving the growth of the Radiation-Induced Myelosuppression Treatment Market. Asia-Pacific is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as rise in the adoption of iron supplements for the treatment of myelosuppression, growing prevalence of cancer cases in developing nations, and increase in the research and development activities by the key players.
Radiation-Induced Myelosuppression Treatment Market Drivers
Rise in the Demand for Erythropoietin Stimulating Agents
Erythropoietin stimulating agents are increasingly being used for the treatment of radiation-induced myelosuppression owing to the lower rates of transfusion and its ability to improve the quality of life. The higher response rate of erythropoietin stimulating agents in patients suffering from radiation-induced anemia is further propelling the growth of the Radiation-Induced Myelosuppression Treatment Market.
Increase in the Availability of Drugs for the Treatment of Thrombocytopenia and Anaemia
The management of treatment of thrombocytopenia is becoming easier owing to the easy availability of drugs. The management of treatment of anemia is increasing rapidly in developed nations owing to the growing demand among cancer patients who receive radiation therapy for cancer treatment, which is driving the growth.
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Radiation-Induced Myelosuppression Treatment Market Challenges
Stringent Government Regulations
The key players across the world are focusing on strategic expansion and also ensuring the availability of the products by strengthening their manufacturing facilities and enhancing their various research and development activities. However, stringent government regulations to obtain products is one of the major factors that is estimated to reduce the growth of the Radiation-Induced Myelosuppression Treatment Market.
Radiation-Induced Myelosuppression Treatment Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Radiation-Induced Myelosuppression Treatment Market. Key companies of this market are Pfizer Inc, Mylan NV, Amgen Inc, Teva Pharmaceutical Industries Ltd, Janssen Pharmaceutical NV, Johnson and Johnson Services, Partner Therapeutics, Inc, Novartis AG, Myelo Therapeutics, Mission Pharmacal among others.
Key Takeaways
Geographically, North America Radiation-Induced Myelosuppression Treatment Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing demand for erythropoietin stimulating agents for the treatment of anaemia.
The growing focus to develop novel therapies for the treatment of neutropenia by the key companies is driving the neutropenia segment.
The stringent government regulations is one of the major factors that is said to reduce the growth of the Radiation-Induced Myelosuppression Treatment Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Radiation-Induced Myelosuppression Treatment Market report.
Related Reports :
A. Chemotherapy-induced Anemia Market
https://www.industryarc.com/Research/Chemotherapy-induced-Anemia-Market-Research-509929
B. Febrile Neutropenia Market
https://www.industryarc.com/Report/15851/febrile-neutropenia-market.html
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