Chemotherapy involves using drugs to destroy cancer cells. It works by stopping or slowing down the growth of cancer cells which grow, divide and spread more rapidly than normal cells. The most common chemotherapy drugs act by causing DNA damage to kill cancer cells, either by interfering with cancer cell DNA replication or by interfering with cancer cell division. Some of the advantages of chemotherapy include high clinical effectiveness, ability to treat widespread cancers or micro-metastases, and synergistic effects when used in combination with other therapies. The rising incidence of cancer has increased the need for effective chemotherapy treatments worldwide.
The chemotherapy market is estimated to be valued at USD 10.87 Bn in 2024 and is expected to reach USD 18.35 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.
Key Takeaways
Key players operating in the Chemotherapy market are Bristol-Myers Squibb Company, AstraZeneca, Pfizer Inc., Novartis AG, GSK plc., Sanofi, Amgen Inc., Gilead Sciences, Inc., Boehringer Ingelheim International GmbH., AbbVie Inc., Merck Co., Inc., and Autolus Therapeutics. Key players are mainly focused on developing new product lines, improving efficacy and safety profiles of existing drugs, expanding their geographic presence and conducting clinical trials to expand approval of drugs into new indications.
The growing cancer burden coupled with increasing adoption of targeted therapies and personalized medicine is expected to propel the demand for Chemotherapy Market Demand over the forecast period. Furthermore, manufacturer focus on developing biosimilars and specialty drugs along with strategic collaborations to penetrate developing markets will boost the global expansion of the chemotherapy market until 2031.
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