Global Cancer Treatment Market Expected To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, “ Global Cancer Treatment Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” theglobal cancer treatment market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
The population of world is approximately 7.6 billion. Out of this population every year on an estimate nearly 14.1 million people are detected and registered as cancer patients. Every year approximately 8.2 million patients die due to cancer. According to World Health Organization (WHO), in 2015, cancer was the second leading cause of death in the world.
There are various type of cancers. The top cancers detected in men are lip, oral cavity, pharynx, lungs and in women are breast, cervix, ovary, oral cavity. There are various treatments available for cancer such as chemotherapy, targeted therapy, biologics, hormonal therapy & supportive therapy but among these chemotherapy occupied the greatest market value of US$ 104.97 m. The latest developments and recent innovations in the cell biology have provided a better understanding of mechanisms of how and where the original cancer tumors form and why metastasis takes place.
In January, 2018 AstraZeneca and Merck & Co., received an approval from US Food and Drug Administration, for Lynparza (olaparib), for use in patients with harmful gremlin BRCA-mutated, human epidermal growth factor receptor 2- negative metastatic breast cancer.
Demand for cancer treatment devices and equipment is high in both rural as well as urban sector. This the major driver towards the growth of the market. The high-end sophisticated devices are not affordable by all the nations. This is hampering the market growth.
Other diagnostics tests for treatment of cancer have become quite common such as cytological sampling, biopsies, blood tests, dermoscopy. Hospitals and health centers or developing nations such as India, China, Japan, and others are trying to acquire sophisticated cancer treatment equipment such as vacuum-assisted devices. Market players can increase the use of proton therapy, radiotherapy, and immunotherapy to further enhance the market.
The cancer treatment market globally is segmented on the basis of gender, male or female. Furthermore, the market is bifurcated on the basis of type of cancer like oral cavity, breast, cervix, blood, brain, pancreas, liver, skin, eye, uterus, esophagus, and others. Market Segmentation for cancer treatment is done on the basis of the cancer treatment such as chemotherapy, proto therapy, immunotherapy, radiotherapy, and others.
The global cancer treatment market has a dominant share in North America in countries such as U.S followed by Canada. Europe has a considerable market share in the global cancer treatment market. Asia Pacific regions are expected to grow at a rapid pace, with the increase in number of cancer patients. LAMEA region has the least market share and is expected to grow with increasing awareness.
The major key players in cancer treatment market are: Siemens and Philips, GE Healthcare, Apollo, Healthcare Global, Max Healthcare, Natco Pharma, Biocon, Piramal Healthcare, Amgen, AstraZeneca, Bristol-Myers Squibb, GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co. Inc., Novartis AG.
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