CHEMOTHERAPY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Regional Analysis

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Regional Analysis: Chemotherapy Market

Dominating Region: North America

North America is expected to dominate the chemotherapy industry with the highest market share of 41.9% in 2024, due to factors such as widespread health insurance coverage, government support for cancer research, and presence of leading pharmaceutical companies.

Fastest-Growing Region: Asia Pacific

Asia Pacific region exhibits the fastest growth with 21.9% market share in 2024, due to growing medical tourism, rising healthcare spending, and increasing focus of global players to tap into opportunities in developing markets.

Chemotherapy Market Outlook for Key Countries

Increasing product approvals in the U.S.

The U.S. chemotherapy industry continues to grow steadily backed by new product approvals and rising demand for affordable biosimilars. For instance, in February 2023, GSK plc., a biopharmaceutical company, announced that it had received approval from the U.S. Food and Drug Administration for Jemperli (dostarlimab-gxly) for the treatment of adult patients with mismatch repair-deficient (dMMR) recurrent or advanced endometrial cancer.

Large patient pool in China

The China chemotherapy industry is experiencing rapid growth due to a large patient pool, bolstered by rising cancer incidence and increasing awareness campaigns. For instance, in November 2022, the government of China, initiated Lung Cancer Awareness Month, to raise awareness about lung cancer and the actions to help prevent it and reduce the stigma associated with this disease.

Widespread health insurance in Japan

The Japan chemotherapy market is thriving, primarily due to the government's commitment to widespread health insurance coverage and robust R&D efforts by major pharmaceutical companies like Takeda and Daiichi Sankyo. This support fosters innovation and enhances access to effective cancer treatments, solidifying Japan's leadership in the Asia Pacific chemotherapy market.

Increasing research and development activities in India

Increasing research and development activities by key market players in India is poised to drive the market growth. For instance, in May, 2023, Rakuten Medical, Inc., a biotechnology company, announced that the company had started a Global Phase 3 Trial of Alluminox treatment using ASP-1929 for recurrent head and neck cancer in India.