April 24, 2024
Compounding Chemotherapy Market

Compounding Chemotherapy Market Is Poised To Gain Prominence Through Effective Patient Care

The compounding chemotherapy market has witnessed significant growth in recent years. Compounding chemotherapy involves preparing customized doses of chemotherapy drugs as per the unique needs of each cancer patient. It helps improve patients’ tolerance to treatment by providing optimum dosage levels as well as alternative forms of administration like topical gels or injectables that are more comfortable for the body. Some key advantages of compounding chemotherapy include minimal side effects, affordability, and improved outcomes for cancer treatment. As the global incidence of cancer continues to rise, the need for personalized chemotherapy approaches is increasing commensurately.

The Global compounding chemotherapy market is estimated to be valued at US$ 11.76 Mn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the compounding chemotherapy market are Singapore Airlines,Air New Zealand,Qantas,Qatar Airways,Virgin Australia,Emirates,All Nippon Airways,EVA Air,American Airline,Spicejet,The Boeing Company,Airbus SE,Lockheed Martin Corporation,Textron Inc,Embraer S.A.
With rising cancer prevalence, the demand for efficient and personalized treatment options like compounded chemotherapy drugs is growing. This trend is expected to drive significant market opportunities for players in the coming years.
Major players are also expanding their geographical presence to meet the burgeoning needs in developing regions. They are focusing on mergers, acquisitions and partnerships with local players to strengthen their foothold across high potential markets.

Market key trends

One of the major trends witnessed in the Global Compounding Chemotherapy Market Size is the increasing adoption of continuous manufacturing techniques. This involves an automated process that enables enhanced standardization, consistent quality and reduced contamination risks compared to traditional batch manufacturing. Since chemotherapeutic drugs have narrow therapeutic indices, continuous manufacturing is gaining prominence. This trend allows for precisely tailored doses that can optimize treatment outcomes.

Porter’s Analysis

Threat of new entrants: Major capital investment required to set up manufacturing plants pose entry barriers for new players. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of treatment alternatives. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and dependence of buyers on their supplies. Threat of new substitutes: Threat of substitution is moderate as there are limited new treatment alternatives. Competitive rivalry: Competition is high as the market is fragmented with presence of global as well as regional players.

Geographically, North America holds a major share of the compounding chemotherapy market due to increasing cancer prevalence, supportive reimbursement policies and healthcare infrastructure. North America is also one of the largest markets for cancer drugs. On the other hand, Asia Pacific region is expected to witness highest growth over the forecast period owing to increasing healthcare spending, growing medical tourism industry and rising awareness about cancer treatments. Countries like India, China and Japan are expected to lead the growth of compounding chemotherapy market in Asia Pacific.

The fastest growing region for compounding chemotherapy market is anticipated to be Asia Pacific due to rapidly increasing cancer patient population and rising demand for cost-effective therapies in developing economies. Additionally, improving healthcare infrastructure and growing medical tourism industry in the Asia Pacific region will support the market growth over the forecast period. Countries like India, China, Thailand, Malaysia and South Korea are expected to drive the Asia Pacific market for compounding chemotherapy at a double digit CAGR between 2024 and 2030.

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