February 24, 2024
Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics Market

Growing Cancer Incidence Rates to Fuel Growth in the Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics Market

Market Overview:

The cancer chemotherapy associated nausea and vomiting therapeutics market consists of drugs used for treatment and prevention of nausea and vomiting associated with cancer chemotherapy. Chemotherapy is an integral part of cancer treatment but a common side effect caused by chemotherapy is nausea and vomiting. The therapeutic products used for preventing and treating chemotherapy-induced nausea and vomiting help reduce the adverse effects of chemotherapy. These include 5-HT3 receptor antagonists, neurokinin receptor antagonists, and other drugs targeting multiple receptors sites involved in nausea and vomiting.

The global 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 key trends:

The rising prevalence of cancer across the globe drives the demand for cancer chemotherapy. It is estimated that the global cancer burden has risen to 19.3 million new cases and 10.0 million cancer deaths in 2020. Growing cancer incidence rates will consequently boost the need for chemotherapy-associated nausea and vomiting therapeutics over the forecast period. Furthermore, the development of novel combination therapies for improved treatment efficacy and patient compliance is another key trend observed in this market.

Porter’s Analysis

Threat of new entrants: The cancer chemotherapy associated nausea and vomiting therapeutics market requires high R&D investments and regulatory approvals. This acts as a barrier for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as there exist many established brands in the market. However, the necessity of products gives buyers less negotiating power.
Bargaining power of suppliers: The key raw materials and manufacturing equipment suppliers have moderate bargaining power due to the availability of substitutes and less differentiation in materials.
Threat of new substitutes: New substitute products may emerge in future, but replacing existing drugs requires huge investments and clinical trials. This keeps the threat of substitutes low.
Competitive rivalry: The cancer chemotherapy associated nausea and vomiting therapeutics market is dominated by key global players like Johnson & Johnson Services, Inc.

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 prevalence of cancer and rising number of chemotherapy procedures worldwide.

Regional analysis
North America dominates the global market and is expected to grow at a significant pace during the forecast period. This is attributed to high healthcare spending and availability of advanced therapies. Asia Pacific is expected to emerge as the fastest growing region due to rising cancer cases, improving healthcare infrastructure and increasing patient affordability.

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. Teleflex Incorporated specializes in providing minimally invasive surgical solutions and medical devices.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it