December 14, 2024

Increased Clinical Funding And Research Is Anticipated To Open Up The New Avenue For Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics Market

The Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics Market is estimated to be valued at US$ 3,071.1 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics is used to prevent and treat nausea and vomiting that may occur after chemotherapy treatment for cancer. Chemotherapy drugs work by killing fast-growing cancer cells but they also damage normal cells that divide rapidly like those in the stomach and intestine. This causes side effects like nausea and vomiting. Medications for this market aims to reduce these side effects and improve the quality of life of cancer patients undergoing chemotherapy.

Market Dynamics:

One of the major driver for this market is the increasing prevalence of cancer worldwide. As per WHO, cancer is a leading cause of death worldwide and accounts for nearly 10 million deaths in 2020. The high prevalence of cancer demands effective treatments which will drive the demand for therapeutics to reduce chemotherapy side effects. Additionally, growing research on combination drug therapies is expected to provide new treatment options. For instance, combination of 5-HT3 receptor antagonist with neurokinin 1 receptor antagonist has shown to be more effective in controlling chemotherapy induced nausea and vomiting. The improved efficacy of such combination therapies will boost the market growth over the forecast period.

Segment Analysis

The cancer chemotherapy associated nausea and vomiting therapeutics market is dominated by the delayed/long-term treatment sub segment. This is because chemotherapy induced nausea and vomiting usually occur 24 hours after the treatment and is difficult to control compared to the acute sub segment which occurs within 24 hours. The delayed/long-term treatment sub segment has better prevention and control options available owing to the expanding pipeline of neurokinin-1 receptor antagonists and serotonin 5-HT3 receptor antagonists drugs.

PEST Analysis

Political: The governments across various countries are funding extensively for research and development of novel therapeutics for cancer chemotherapy associated nausea and vomiting. Regulations for approval processes are also being streamlined for faster availability of new treatment options.

Economic: The rise in healthcare spending globally along with increasing insurance coverage is augmenting the demand for modern and effective anti-emetic drugs. The high treatment cost of cancer chemotherapy associated nausea and vomiting also presents lucrative prospects.

Social: Growing cancer prevalence along with increasing awareness about supportive care are drivingpatients to seek effective management of chemotherapy side effects like nausea and vomiting. This is positively impacting the market growth.

Technological: Advancements in drug delivery, formulation technologies and development of combination therapy regimes have enhanced the efficacy of nausea and vomiting therapeutics. Identification of novel targets and bioavailability enhancing approaches are further expanding the product pipeline.

Key Takeaways

The Global Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics Market Size is expected to witness high growth at a CAGR of 5.7% over the forecast period, supported by rising cancer burden worldwide and growing focus on improving quality of life of cancer patients undergoing chemotherapy.

Regional analysis indicates North America dominated the global market in 2023 with over 30% share owing to established healthcare infrastructure, high disposable income and wide access to advanced therapeutics. Asia Pacific is anticipated to exhibit fastest growth through 2030 with CAGR of around 6.5% attributed to expanding healthcare spending, rising awareness and increasing domestic production of anti-emetics in India and China.

Key players operating in the Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics market are Johnson & Johnson Services, Inc., Teleflex Incorporated, Cooper Surgical, Inc., Genicon, Medtronic, B. Braun SE, Applied Medical Resources Corporation, LaproSurge, Purple Surgical, CONMED, Hangzhou Boer Medical Instruments Co., Ltd., Duomed, Changzhou Cheayoo Medical Devices Co., Ltd., and Tianjin Zhichao Medical Technology Co., Ltd. These companies collectively held over 55% of the global market share in 2023 owing to their diverse product portfolios and widespread geographic presence across major markets. The landscape is also witnessing emerging players with strong foothold in developing regions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →