Oncology Adjuvants Market
Number of pages: 100 | Report Format: PDF | Published date: May 23, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 529.51 million |
|
Revenue Forecast in 2031 |
US$ 1,185.4 million |
|
CAGR |
4.4% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Application, Indication, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global oncology adjuvants market was valued at US$ 529.51 million in 2022 and is expected to register a revenue CAGR of 4.4% to reach US$ 1,185.4 million by 2031.
Oncology Adjuvants Market Fundamentals
Oncology adjuvants are substances or treatments used in conjunction with primary cancer therapies, such as surgery, chemotherapy, or radiation therapy, to enhance their effectiveness and reduce the risk of cancer recurrence. Adjuvants can be drugs, therapeutic agents, or treatment strategies that are aimed at eliminating residual cancer cells, preventing metastasis, or boosting the immune system's response against cancer cells. The primary goal of oncology adjuvants is to improve patient outcomes by reducing the likelihood of cancer recurrence or increasing the chances of long-term remission. They are typically administered after the primary cancer treatment has been completed, targeting any remaining cancer cells that the primary therapy may not have eliminated.
The research study on the oncology adjuvants market overview thoroughly analyzes the market and the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as major players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion.
This report is an important tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide in-depth oncology adjuvants market forecast to the industry stakeholders.
Oncology Adjuvants Market Dynamics
The rising prevalence of cancer globally is a significant driver for the global oncology adjuvants market. As cancer cases continue to increase, there is a growing demand for effective treatment options, including adjuvant therapies that can improve patient outcomes. For instance, according to the WHO’s factsheet of February 2022, cancer is one of the leading causes of death, which killed 10 million deaths in 2020, which is one in six deaths. The development of innovative and targeted therapies for various types of cancer has created a need for complementary adjuvant treatments. Adjuvants are used with primary cancer treatments like surgery, chemotherapy, and radiation therapy to enhance their effectiveness and reduce the risk of recurrence. Moreover, the oncology adjuvants market benefits from technological advancements in drug delivery systems and formulations. Developing targeted drug delivery systems, immunotherapies, and personalized medicine approaches has expanded the potential applications of adjuvants, leading to increased market demand.
Additionally, the high cost of treatment, side effects and toxicity, and limited availability of specialized healthcare infrastructure in developing nations are some of the restraints impeding the overall oncology adjuvants market growth.
Oncology Adjuvants Market Ecosystem
Oncology Adjuvants Market, by Application
Oncology Adjuvants Market, by Indication
Oncology Adjuvants Market, by End User
Oncology Adjuvants Market by Indication
The breast cancer segment dominated the market with the largest revenue share of 29% in 2022, owing to its rising prevalence globally. For instance, according to the WHO’s article of March 2021, in 2020, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths across the globe. Breast cancer is one of the most common types of cancer among women globally, and adjuvant therapies play a crucial role in managing and treating this disease. Adjuvant therapies in breast cancer are used after primary treatment, typically involving surgery to remove the tumor. The primary goal of adjuvant therapies in breast cancer is to reduce the risk of cancer recurrence and improve long-term survival rates. They are administered to target any remaining cancer cells that may not have been eliminated by surgery and to prevent the spread of cancer cells to other parts of the body.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as application, indication, end user, etc. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps in identifying potential oncology adjuvants market growth opportunities.
Oncology Adjuvants Market by Region
North America dominated the global oncology adjuvants market with the largest revenue share with a CAGR of 4.3% during the forecast period, owing to factors such as the high incidence of cancer, a large patient population, advanced healthcare facilities, and a strong emphasis on cancer research and development. For instance, according to the Center for Disease Control and Prevention factsheet of June 2022, in the U.S. in 2019, it was reported that there were 1,752,735 new cancer cases recorded, and 599,589 individuals died from cancer. Moreover, North America is known for its significant healthcare technology and innovation advancements. The region has well-established pharmaceutical and biotechnology industry that contributes to developing novel adjuvants and targeted therapies. Adopting advanced drug delivery systems and personalized medicine approaches further supports the market's growth.
Based on the regions, the global oncology adjuvants market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding oncology adjuvants market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Key Components of the Report
Oncology Adjuvants Market Competitive Landscape
The market competitive landscape is performed by collecting and analyzing information about the key competitors, the present industry trends, and market dynamics. It includes information collection and analysis on factors such as products, pricing, geographic outreach, customer demographics, marketing strategies, and recent developments. Competitive landscape assessment will help businesses identify the current prevalent or potential opportunities and threats keeping in mind the Oncology Adjuvants industry trends.
Oncology Adjuvants Market Strategic Developments
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Reasons to Buy this Report
Oncology adjuvants are substances or treatments used in conjunction with primary cancer therapies, such as surgery, chemotherapy, or radiation therapy, to enhance their effectiveness and reduce the risk of cancer recurrence.
The global oncology adjuvants market was valued at US$ 529.51 million in 2022.
North American region will have the largest oncology adjuvants market size during the forecast period from 2023 to 2031.
The revenue CAGR of the oncology adjuvants market during the forecast period will be 4.4% from 2023 to 2031.
Growing awareness and early cancer diagnosis practices are the most prominent oncology adjuvants industry trends.
The high cost of treatment, side effects and toxicity, and limited availability of specialized healthcare infrastructure in developing nations are some key challenges hampering the growth of the global oncology adjuvants market.
Increasing cancer incidence and technological advancements are growth opportunities in the global oncology adjuvants market.
Some of the prominent players in the oncology adjuvants market are Biogen, AstraZeneca plc, Pfizer Inc., Jiangsu Hengrui Pharmaceuticals Co., Ltd., and Hisun Pharmaceuticals USA Inc.
The breast cancer segment has the highest share in the global oncology adjuvants market.
*Insights on financial performance are subject to the availability of information in the public domain
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