The global radiation-induced fibrosis treatment market is set for significant growth, with an expected compound annual growth rate (CAGR) of 6.4%. According to recent projections, the market value is anticipated to rise from USD 73.8 million in 2023 to USD 137.1 million by 2033. Following a valuation of USD 69.8 million at the end of 2022, the market is also expected to show year-over-year growth of 5.8% in 2023.
Key Growth Drivers
Several factors are driving the expansion of the radiation-induced fibrosis treatment market:
- Increasing Incidence of Cancer Treatments: As the number of cancer patients receiving radiation therapy rises, the demand for effective treatments for radiation-induced fibrosis is expected to grow, addressing the side effects of radiation.
- Advancements in Treatment Options: Ongoing research and development efforts are leading to the introduction of innovative therapies aimed at managing and mitigating radiation-induced fibrosis, enhancing patient care.
- Growing Awareness of Long-Term Effects of Radiation Therapy: There is an increasing recognition among healthcare professionals and patients regarding the long-term consequences of radiation therapy, leading to a higher demand for targeted treatments.
Treatment options have been expanded as a result of ongoing research and development efforts aimed at finding out the underlying mechanisms of radiation-induced fibrosis and creating novel approaches to therapy. Market expansion is supported by breakthrough techniques and promising pipeline drugs.
Competitive Landscape
The market’s key players are increasing their efforts in research and development to improve their competitiveness in the radiation-induced fibrosis treatment market and to broaden their presence in developing nations. Partnerships and collaborations with research other companies are the primary strategies used by manufacturers to dominate the market and grow their businesses.
For instance:
- In June 2021, Mylan N.V. announced the launch of its generic version of the cancer drug Azacitidine for the treatment of radiation-induced fibrosis, expanding the company’s oncology portfolio.
- In May 2021, Pfizer Inc. and HOOKIPA Pharma Inc. announced a collaboration to develop immuno-oncology treatments, including those for radiation-induced fibrosis.
Key Companies Profiled
- Boehringer Ingelheim
- Pfizer Inc.
- Novartis AG
- GlaxoSmithKline plc
- Bristol Myers Squibb Company
- AstraZeneca plc
- F. Hoffmann-La Roche Ltd.
- Merck & Co., Inc.
- Johnson & Johnson
- Eli Lilly and Company
- AbbVie Inc.
- Sanofi SA
- Takeda Pharmaceutical Company Limited
- Amgen Inc.
- Mylan N.V.
- Bayer AG
- Celgene Corporation (Bristol Myers Squibb)
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Key Market Segments Covered in Radiation Induced Fibrosis Treatment Industry Analysis
By Drug Class:
- Corticosteroids
- Anti-fibrotic Drugs
- Immunotherapy
- Immunoglobulin
By Route of Administration:
- Oral
- Injectable
- Topical
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
Author By:
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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