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 Overview:
Cancer Chemotherapy Associated Nausea And Vomiting Therapeutics are medications used to prevent and treat nausea and vomiting that may occur as an unintended side effect of cancer chemotherapy. These medications work by interacting with the brain and stomach receptors that control nausea and vomiting. They are available as oral pills, injections, and skin patches. With rising cancer prevalence worldwide, the demand for anti-emetic drugs is also growing in order to provide relief from chemotherapy side effects and improve patient compliance to cancer treatment.
Market key trends:
One of the key trends in the market is the increasing adoption of novel therapies for chemotherapy-induced nausea and vomiting (CINV). Some of the novel therapies include neurokinin-1 receptor antagonists such as rolapitant, netupitant and palonosetron. These drugs act by blocking the substance P neurotransmitter that causes vomiting and are more effective than older classes of anti-emetics. Additionally, new drug delivery approaches such as subcutaneous formulations and transdermal patches are gaining popularity due to ease of administration. Biologics such as monoclonal antibodies are also emerging which provide sustained relief from nausea. Rising R&D investment by players to develop these novel therapies will likely aid the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The cancer chemotherapy associated nausea and vomiting therapeutics market requires substantial investment in R&D for new product development and it is difficult for new players to gain regulatory approvals. Bargaining power of buyers: Individual buyers have low bargaining power but groups of hospitals and insurers can negotiate lower prices from established manufacturers. Bargaining power of suppliers: Established players source raw materials from few suppliers globally which gives suppliers moderate bargaining power over prices. Threat of new substitutes: New alternative therapies are available for reducing chemotherapy induced nausea and vomiting but existing products have strong brand loyalty which provides protection from substitutes. Competitive rivalry: The market is consolidated with few top players holding majority share. Price competition is high among manufacturers to gain market share.
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 cancer prevalence and rising number of cancer chemotherapy procedures.
Regional analysis: North America dominates the market and is expected to continue its dominance over the forecast period. This is attributed to high healthcare expenditure and availability of advanced treatment options. Asia Pacific exhibits highest growth prospects due to rise in cancer treatment seeking population and healthcare infrastructure advancements in countries like China and India.
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, Applied Medical Resources Corporation, LaproSurge, Purple Surgical, CONMED, Hangzhou Boer Medical Instruments Co., Ltd., Duomed, Changzhou Cheayoo Medical Devices Co., Ltd., and Tianjin Zhichao Medical Technology Co., Ltd. Key players are focusing on expansion in emerging markets through partnerships and product launches.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
