In the dynamic landscape of the Global Radiation Induced Myelosuppression Treatment Industry, sales have surged to an impressive US$ 2.9 Billion in 2022, and the trajectory is set to continue on a steadfast path, with an anticipated 3.1% Compound Annual Growth Rate (CAGR). Projections paint an even more remarkable picture, with the market’s worth expected to soar to over US$ 3.5 Billion by 2028.
This robust growth is underpinned by the escalating worldwide incidence of cancer, compelling an increased demand for cutting-edge cancer treatment options and therapeutic solutions. The confluence of early diagnosis capabilities and the widespread availability of radiotherapy and chemotherapy further cements the market’s potential, with this upward trajectory expected to persist through 2031.
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Report tracks key factors driving revenue growth of the market –
- Increasing prevalence of cancers
- Early diagnosis, promising improved chances of positive outcomes
- Fostering R&D funds supporting cancer research
- Strong product pipeline
- Bolstering adoption of chemo-radiotherapy in cancer treatment
In the backdrop of patent expiry, a majority of market leaders are shifting their focus to the expansion of product pipeline of a wide range of innovative formulations, likely to shape the radiation-induced myelosuppression treatment landscape.
- Myelo001 by Myelo Therapeutics GmbH recently received an FDA approval as an orphan drug to be used in the ARS (acute radiation syndrome) treatment.
- Mylan NV and Pfizer Inc. also reveived FDA approvals for their recently launched biosimilars – Epogen and Neupogen, and Neulasta respectively.
Patent expiry of originator biologics formulations is creating investment opportunities in biosimilars production – for the operators in radiation-induced myelosuppression treatment landscape. As there is a considerable cost difference of around 20% between originator biologics and biosimilars, patients are inclined more towards an economical means of treatment, thereby fueling the scope of penetration of radiation-induced myelosuppression treatment in coming years.
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Backed by a majority of established players housing strong bases across North America, especially the US, the report indicates a steady growth outlook for the radiation-induced myelosuppression treatment industry in the region. North America will reportedly continue to account for over 65% share in the global market value.
New product launches currently mark the top developmental strategy adopted by leading companies competing in the radiation-induced myelosuppression treatment industry. A majority of key players are also identified to focus on enhancing their geographical foothold in the global radiation-induced myelosuppression treatment landscape. The report in a distinct section covers some of the key competitors operating in the radiation-induced myelosuppression treatment marketplace, emphasizing their financial as well as strategic profiles in depth.
A few of the profiled companies include
Pfizer Inc., Janssen Pharmaceutical NV, Janssen Global Services, LLC (Johnson & Johnson), Amgen Inc., Mylan NV, Teva Pharmaceutical Industries Ltd., Novartis AG, and Partner Therapeutics, Inc.
In the highly consolidated competitive landscape of global radiation-induced myelosuppression treatment, the three top-ranking companies, i.e. Janssen Pharmaceutical NV, Amgen Inc., and Teva Pharmaceutical Industries Ltd. dominate in terms of market value. These players continue to hold winning revenue shares in the radiation-induced myelosuppression treatment owing to a strong global presence and a considerable number of new drug approvals. Established companies are entering strategic partnerships and collaborations with regional leaders, in an effort to achieve better penetration into regional markets.
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Radiation-Induced Myelosuppression Treatment Industry by Category
Indication:
- Neutropenia
- Anemia
- Thrombocytopenia
Drug Class:
- Growth factors
- Erythropoietin stimulating agents
- Thrombopoietic agents
- Iron supplements
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
- Drug stores
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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