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Chemotherapy-Induced Myelosuppression Treatment Market Size is anticipated to witness significant propulsion from 2022 to 2028 on account of the escalating healthcare spending worldwide. The rising prevalence of leukemia has made way for increased R&D activities, subsequently pushing numerous pharmaceutical and drug companies towards cancer-related research investments. The rapidly expanding rate of anemia and thrombocytopenia amongst the older population base will also favor the industry dynamics in the long run.
Chemotherapy-induced myelosuppression can be touted as the most common dose-limiting as well as potentially fatal complication of cancer treatment. The rising acceptance for various surgeries, chemotherapy, and radiotherapy will also play an ideal role in the industry expansion.
Based on drug class, the market share from the erythropoietin stimulating agents will expand with the growing cases of anemia. According to the World Health Organization (WHO), anemia affects more than 1.62 billion people across the globe, accounting for 24.8% of the total population. Apart from offering lower rates of transfusion, these agents provide improved cognition. They also limit the need for blood transfusions and are highly adopted by physicians for their patients in chemotherapy to ensure an improvement in Quality of life (AoL). The higher effectiveness of these drug classes in the treatment of myelosuppression will further act as a significant contributor to the industry growth.
The chemotherapy-induced myelosuppression treatment market revenue from the injectables route of the administration will expand considerably through 2028 owing to rising penetration in the field of oncology and surging threat of myelosuppression. Injectables are increasingly preferred over orally administered drugs on account of their higher therapeutic availability. This can be ascribed to their growing abilities to assist in boosting bone marrow performance and increasing specific blood cell production. The rising number of research pertaining to the advantages of oral administrations is another prominent driver for the market expansion.
Regionally, the North America chemotherapy-induced myelosuppression treatment market will gain traction with the considerable rise in the number of R&D investments and the presence of a well-established healthcare sector. The thriving burden of cancer, mainly in the U.S. has also prompted multiple growth opportunities for leading cancer therapeutics providers, contributing to increased product demand.
Global chemotherapy-induced myelosuppression treatment market players include Janssen Pharmaceutical NV, Mission Pharmacal Company, Dova Pharmaceuticals (Swedish Orphan Biovitrum), Partner Therapeutics, Inc., Novartis AG, Pfizer Inc., Mylan NV (Viatris), Teva Pharmaceutical Industries Ltd., and Amgen Inc.
Most of these players are resorting to expansion and growth strategies, including partnerships, and acquisitions, along with R&D activities and regulatory approvals for new techniques to attain competitive benefits and strengthen their market position.
For instance, Dova Pharmaceuticals, Inc., in January 2020, received the Orphan Drug Designation1 (ODD) from the U.S. FDA (Food and Drug Administration) for avatrombopag to help in the potential treatment of CIT (chemotherapy-induced thrombocytopenia).
In another instance, in February 2021, Partner Therapeutics disclosed the publication of two studies that demonstrate Leukine® for the treatment of myelosuppression as well as hematopoietic damages and dysfunction that arise from ARS (Acute Radiation Syndrome)
As a result of the COVID-19 crisis, the global economy experienced significant disruption considering the halted business activities across various industrial verticals. The chemotherapy-induced myelosuppression treatment industry witnessed a moderately lower demand given the rising hospital admissions and limited healthcare facility visits to counter the escalating infection rate.
However, the growing count of patients with lung cancer among various other cancers that are more susceptible to infection due to the virus added a positive edge to the industry dynamics. The surging need for several treatment methods to limit the chances of anemia or thrombocytopenia amid the pandemic also influenced the market progression.
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