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 are medications used to prevent and treat nausea and vomiting that may occur as a side effect of chemotherapy treatment for cancer. This market includes drugs such as 5-HT3 receptor antagonists, NK1 receptor antagonists, other drugs, and cannabis-based drugs. These drugs are administered orally, intravenously, or via injection and are often given before chemotherapy begins to prevent nausea and vomiting.
Market Dynamics:
The rising geriatric population suffering from cancer and growing prevalence of cancer globally are the key factors driving the cancer chemotherapy associated nausea and vomiting therapeutics market growth. According to the National Cancer Institute, in 2030, around 19.3 million new cancer cases are estimated to be diagnosed worldwide. Also, high quality care and growing approval of new drugs for chemotherapy induced nausea and vomiting are further expected to propel the market growth over the forecast period. However, side effects associated with anti-emetic drugs such as constipation, fatigue, and headaches may hinder the market growth.
SWOT Analysis
Strength: Cancer chemotherapy associated nausea and vomiting therapeutics have strong research and development capabilities. Many market players are conducting clinical trials to develop novel drugs. Existing drugs have demonstrated high effectiveness in reducing chemotherapy-induced nausea and vomiting.
Weakness: Development of generic versions of branded drugs poses pricing challenges for market players. Side effects associated with few drugs reduce patient compliance.
Opportunity: Rising cancer incidence worldwide provides potential for market growth. Developing regions offer largely untapped market opportunities.
Threats: Failure or delay in new product pipelines can negatively impact market revenues. Regulatory hurdles for product approval prolong market entry of novel therapies.
Key Takeaways:
The Global Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing cancer prevalence across the world. Rising awareness about supportive care and availability of reimbursements are further fueling the market growth.
Regional analysis
The cancer chemotherapy associated nausea and vomiting therapeutics market in North America is expected to dominate the global landscape over the forecast period. This is attributable to the rising cancer incidences, presence of major market players, and strong reimbursement structure in the region. However, the Asia Pacific market is poised to witness the fastest growth rate owing to growing healthcare expenditure and increasing focus of international players on emerging Asian countries.
Key players
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. Major players are focused on strengthening their product portfolio through mergers, acquisitions, and collaborations.
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