Global Cancer Infusion Therapy Market

MARKET SCOPE:

The global Cancer Infusion Therapy market is projected to grow significantly, registering a CAGR of 6.7 % during the forecast period (2024 – 2032).

Oncology infusion therapy, commonly referred to as cancer infusion therapy, is the administration of medications directly into the bloodstream to address cancer. This therapeutic strategy entails delivering drugs via intravenous (IV) infusion, and occasionally through other infusion methods, with the objective of targeting cancer cells to impede their growth or induce their destruction. Integral to cancer treatment, infusion therapy is frequently employed in conjunction with other modalities like surgery, radiation therapy, and oral medications. Its goal is to systematically address cancer cells throughout the body, adopting a comprehensive approach to combat the disease. The selection of infusion therapy and its particulars are contingent upon factors such as the individual patient's diagnosis, the specific type of cancer, and the treatment plan meticulously developed by oncologists and healthcare teams.

MARKET OVERVIEW:

Driver: Increasing demand for infusion therapy owing to high prevalence of cancer is driving the market growth.

The anticipated rise in the global incidence of cancer is poised to contribute to the expansion of the worldwide cancer therapy market throughout the forecast period. Cancer therapy encompasses interventions aimed at curing, reducing the size of, or impeding the progression of cancer. Chemotherapy involves the use of drugs to eliminate cancer cells, while radiation therapy employs high-energy beams to achieve the same objective. According to the World Health Organization (WHO), cancer stood as a leading cause of global mortality, causing nearly 10 million deaths in 2020, accounting for approximately one in six deaths. Predominant cancers included breast, lung, prostate, colon, and rectum cancer.

The projected growth of the global cancer therapy market is further expected to be propelled by favorable government initiatives and awareness campaigns focused on cancer. For instance, a noteworthy development occurred in August 2022, with the establishment of the Koita Centre for Digital Oncology (KCDO) by the National Cancer Grid (NCG). The KCDO aims to advance the use of digital technologies and tools to enhance cancer care across India. As cancer care undergoes rapid evolution, cancer therapies are increasingly recognized as indispensable components in elevating cancer care on a global scale. The KCDO, in collaboration with academic and research institutions, intends to foster research and development efforts in the field of cancer care.

Opportunities: The global cancer therapy market is anticipated to witness substantial growth opportunities for industry players due to the increased adoption of cancer therapies worldwide.

For example, as the prevalence of cancer continues to rise, there is a corresponding surge in the demand for safe and effective cancer therapies. In May 2022, UVA Health and the Focused Ultrasound Center based in Charlottesville introduced the Focused Ultrasound Cancer Immunotherapy Center, marking the world's inaugural center exclusively dedicated to advancing a treatment approach integrating focused ultrasound and cancer immunotherapy. This innovative approach holds the potential to revolutionize cancer care in the 21st century.

The increasing number of clinical trials and heightened research and development activities globally are poised to present lucrative growth prospects for participants in the global cancer therapy market. In a noteworthy development, the Chimeric Antigen Receptor T-cell (CAR-T) therapy emerged as a breakthrough in cancer treatment in June 2021. Globally conducted clinical trials have demonstrated promising outcomes, particularly in end-stage patients, with a notable impact on those with Acute Lymphocytic Leukemia. This marks a pioneering gene therapy initiative in India, encompassing an early-phase pilot clinical trial. The National Biopharma Mission-BIRAC, under the central government, has allocated 19.15 crore (INR) to support the team in conducting a first-in-human phase-1/2 clinical trial for CAR-T cells.

COVID IMPACT:

The global healthcare systems have been significantly affected by the COVID-19 pandemic, leading to notable implications for the cancer therapy market. According to a Cancer Connect article in 2020, doctors from the Dana Farber Cancer Institute observed a 46% decrease in the diagnoses of the six most common cancer types—breast, colorectal, lung, pancreatic, gastric, and esophageal cancers—during the COVID-19 pandemic. Furthermore, the Centers for Disease Control and Prevention (CDC) and various medical professional organizations recommended the postponement of cancer screening, health prevention services, and elective surgeries unless the potential risks outweighed the benefits, aiming to prioritize hospital infrastructure for treating COVID-19 patients. Consequently, the COVID-19 pandemic has had a discernible impact on the cancer therapy market. Nonetheless, gradual improvements are anticipated in the foreseeable future.

SEGMENTATION ANALYSIS:

The chemotherapy segment is anticipated to grow significantly during the forecast period.

The chemotherapy segment is positioned to take the lead in the cancer therapy market throughout the forecast period, primarily fueled by the increasing prevalence of cancer. Chemotherapy emerges as a foremost and extensively employed approach for addressing various types of cancer. This dominance mirrors the pivotal role played by chemotherapy in the broader landscape of cancer treatment.

The growing incidence of cancer across diverse types and stages underscores the urgent need for effective therapeutic strategies. Chemotherapy, as a pharmacological treatment, utilizes potent chemicals to specifically target and eliminate rapidly proliferating cells, particularly cancer cells. Its mechanism revolves around disrupting the accelerated division and growth of these abnormal cells, with the goal of managing or eradicating the malignancy. The prevalence of the chemotherapy segment underscores the widespread reliance on this treatment modality due to its effectiveness in tackling a diverse range of cancers. In the face of the ongoing global increase in the burden of cancer, chemotherapy remains a fundamental component in the array of cancer therapies, making a substantial contribution to the comprehensive management and treatment of the disease.

The hospital segment is anticipated to grow significantly during the forecast period.

The hospital segment is anticipated to assert dominance in the cancer infusion therapy market throughout the forecast period. This prominence can be attributed to a heightened awareness among the general population about cancer care. As individuals become more informed about the importance of cancer treatment, hospitals play a pivotal role in addressing these healthcare needs. The hospital setting offers comprehensive medical care, making it a preferred choice for cancer patients seeking infusion therapy.

Furthermore, the collaborative efforts between hospitals and pharmaceutical companies in the development and implementation of novel cancer therapies contribute to the sector's dominance. The collaboration facilitates the integration of advanced and innovative treatment modalities, ensuring that patients receive state-of-the-art care within the hospital setting. This alignment with pharmaceutical companies allows hospitals to stay at the forefront of cancer care, offering patients access to cutting-edge therapies and contributing to the overall growth of the cancer infusion therapy market.

REGIONAL ANALYSIS:

The North American region is set to witness significant growth during the forecast period.

In the expected period, North America is poised to dominate the market share, primarily driven by the increasing occurrence of cancer and a rising demand for secure and effective cancer treatments in the region. Notably, the endorsement of cancer immunotherapy for the treatment of various cancer types has significantly influenced this trajectory. Cancer immunotherapy, a specialized category of cancer treatment aimed at enhancing the immune system's capacity to combat cancer cells, has been instrumental in shaping this trend. The region is experiencing a notable surge in cancer cases, leading to a heightened demand for advanced solutions in cancer treatment. The escalating number of cancer diagnoses underscores the imperative for efficacious therapeutic interventions. The growing awareness and a preference for treatments that prioritize patient safety and demonstrate proven efficacy have fueled the demand for secure and effective cancer therapies, positioning North America prominently in the market. The approval and widespread adoption of cancer immunotherapy techniques stand out as key catalysts for the region's prominence. Immunotherapy, through its innovative approach of bolstering the immune system's response to combat cancer, represents a revolutionary paradigm in cancer treatment.

COMPETITIVE ANALYSIS

The global Cancer Infusion Therapy market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

Amgen and Allergan

In March 2018, Amgen and Allergan obtained a favorable CHMP opinion for ABP 980, a biosimilar of Herceptin, intended for the treatment of three cancer types.

B. Braun Melsungen AG

Medtronic plc

Becton, Dickinson and Company

ICU medical (Smiths Medical)

Baxter International, Inc.

Polymedicure

BIO-MED

Terumo Medical Corporation

MEDIPRIM GmbH

Fresenius Kabi

Cardinal Health

SCOPE OF THE REPORT

By Product

Infusion Pumps

Ambulatory Infusion Pumps

Stationary Infusion Pumps

Syringe Infusion Pumps

Disposable Pumps

Large Volume Pumps

Elastomeric pumps

Infusion Set

Accessories

By Indication

Cancer

Gastrointestinal Diseases/Disorders

Congestive Heart Failure

Rheumatoid Arthritis

Hemophilia

Immune Deficiencies

Others

By Therapy

Antibiotic/Antiviral

Anti-coagulation

Anti-emetics

Blood Component Stimulating Factor

Chemotherapy

Nutrition

Hydration

Pain Management

By End Users

Hospitals

Ambulatory Surgical Centers

Clinics

Homecare Settings

By Region

North America (the United States & Canada)

Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Rest of the World (the Middle East & Africa, and Latin America)

KEY REASONS TO PURCHASE THIS REPORT

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Cancer Infusion Therapy market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Cancer Infusion Therapy submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032. Show more