Oncology Adjuvants Market Report Overview
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The global oncology adjuvant market size is estimated to be USD 487.3 million in 2022 and the market is projected to touch USD 642.63 million by 2030, exhibiting a CAGR of 3.5% during the forecast period.
Oncology adjuvant is a treatment for cancer therapy. It includes cancer treatment after the primary treatment is accomplished. The treatment mainly focuses on reducing the reoccurrence of cancer.
The key factor is anticipated to fuel market growth are increased number of cancer patients worldwide. The treatment is used to treat several cancers such as lung cancer, colon cancer, prostate cancer, breast cancer, and other forms of gynecological cancers. The treatment is effective and helps to reduce the reoccurrence of cancer. Government initiatives and rapid development in the healthcare sector. Further, increased R&D activities to develop new advanced treatments to fight against cancers are anticipated to fuel market growth. Increased per capita healthcare expenditure and fast developing healthcare infrastructure. Such factors are estimated to surge market growth in the forthcoming years. High adoption of new technology coupled with a growing number of cancer hospitals is expected to fuel market growth. On the contrary, the high cost associated with the treatment is estimated to restrain market growth throughout the projected period.
The global COVID-19 pandemic has been unprecedented and staggering, with oncology adjuvant experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
COVID-19 Impact: Rapid Development in Healthcare Sector to Drive Market Growth
The Coronavirus pandemic affected several businesses. The oncology adjuvant market witnessed positive growth due to an increase in development in the healthcare sector. Growing need to fight against coronavirus and control the spread of disease to surge market growth. High demand to protect cancer patients from the deadly coronavirus and follow overall healthcare procedure fuel to fuel market growth. Increased awareness about the development of healthcare equipment and extensive adoption of new technology. Further, ongoing research for cancer treatment and COVID-19 vaccinations to accelerate market growth.
LATEST TRENDS
"Increasing Number of Cancer Research Institutes to Fuel Market Growth"
Oncology adjuvant treatment is extensively used in cancer research institutes. The treatment helps to fight patients with cancer. The treatment helps to increase the efficiency of the treatment and reduce the side effects. Increased number of cancer institutes globally coupled with increased need to treat cancer patients safely and effectively is anticipated to fuel market growth. The treatment helps to improve the response rate of chemotherapy. Further, rise in the survival rate of cancer coupled with improving the quality of life of cancer patients. These factors are estimated to foster market growth in the upcoming years. Ongoing research in cancer institutes to develop more advanced technology is expected to drive oncology adjuvant market growth.
Oncology Adjuvants Market Segmentation
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- By Type
Based on type, the market is divided into radiotherapy, chemotherapy, immunotherapy, hormone therapy, targeted therapy, and oncology adjuvants.
Chemotherapy is estimated to be the leading part of type segmentation.
- By Application
Based on application, the market is classified into cancer research institutes and cancer hospitals.
Cancer hospitals are estimated to be the leading part of application segmentation.
DRIVING FACTORS
"Rise in Demand for Cancer Hospitals to Surge Market Growth "
Rising demand for cancer hospitals globally is estimated to drive market growth. The treatment is used to treat several cancers such as lung cancer, colon cancer, prostate cancer, breast cancer, and other forms of gynecological cancers. The treatment is effective and helps to reduce the reoccurrence of cancer. Cancer hospitals extensively used the treatment to improve patient outcomes by growing the effectiveness of primary treatment. It is used to improve overall treatment efficiency. Also, rise in funding for cancer research and an increase incidence of cancer globally are predicted to fuel market growth. The product is typically a drug that is used along with primary cancer treatments such as radiation therapy, surgery, and chemotherapy. These factors are anticipated to accelerate market progress in the forthcoming years.
"High Government Funding and Well-Developed Healthcare Infrastructure to Incite Market Growth"
High adoption of new technology and increased government funding for cancer research & hospitals is estimated to fuel market growth. Further, the presence of well-developed healthcare infrastructure and the availability of advanced healthcare equipment is estimated to drive market growth. Increased per capita healthcare expenditure and fast developing healthcare infrastructure. Positive policy by the insurance companies and governments for reimbursements of cancer treatment cost is estimated to lift the market progress. Increased number of patients are willing to fight against cancer and lead a life. Growing number of professionals are preferring the drug to increase efficiency and reduce toxicity levels are anticipated to foster market growth over the forecast time period.
RESTRAINING FACTORS
"High Cost Associated with The Treatment to Limit Market Growth "
The high cost associated with the treatment is estimated to restrain market growth throughout the projected period.
Oncology Adjuvants Market Regional Insights
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"Presence of a Large Number of Cancer Research Institutes in North America to Drive Market Share "
North America is anticipated hold the largest oncology adjuvant market share due to presence of a large number of cancer research institutes. Availability of advanced healthcare infrastructure and increased adoption of new technology. Moreover, the increasing incidence of cancer is predicted to foster market growth. Government initiatives and rapid development in healthcare sector. Further, increased R&D activities to develop new advanced treatment to fight against cancers are anticipated to fuel market growth. Increased per capita healthcare expenditure and fast developing healthcare infrastructure.
Asia Pacific is estimated to dominate market share owing to increase in per capita healthcare expenditure for better quality. Growing research and development activities and growing demand for cancer treatment in the region are projected to open horizon for the market growth. High adoption of new technology coupled with growing number of cancer hospitals is expected to fuel market growth.
KEY INDUSTRY PLAYERS
"Leading Players Adopt Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the Industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Eli Lilly (U.S.)
- Amgen (U.S.)
- BMS (U.S.)
- Biogen (U.S.)
- Sanofi (France)
- AstraZeneca (U.K.)
- Pfizer (U.S.)
- Hengrui Medicine (China)
- Hisun Pharmaceutical (China)
- Yibai Pharmaceutical (China)
- SL Pharmaceutical (China)
- Zhendong Pharmaceutical (China)
- Main Luck Pharmaceuticals (China)
- Sanjiu Medical (China)
- Livzon Pharmaceutical (China)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 487.3 Million in 2022 |
Market Size Value By |
US$ 599 Million by 2030 |
Growth Rate |
CAGR of 3.5% from 2022 to 2030 |
Forecast Period |
2023-2030 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the oncology adjuvant market expected to touch by 2030?
The global oncology adjuvant market is expected to reach USD 642.63 million by 2030.
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What CAGR is the oncology adjuvant market expected to exhibit by 2030?
The oncology adjuvant market is expected to exhibit a CAGR of 3.5% by 2030.
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What are the driving factors of the oncology adjuvant market?
Drivers of this oncology adjuvant market are rise in demand for cancer hospitals and high government funding and well-developed healthcare infrastructure.
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Which are the top companies operating in the oncology adjuvant market?
Eli Lilly, Amgen, BMS, Biogen, Sanofi, AstraZeneca, Pfizer, Hengrui Medicine, Hisun Pharmaceutical, Yibai Pharmaceutical, SL Pharmaceutical, Zhendong Pharmaceutical, Main Luck Pharmaceuticals, Sanjiu Medical, and Livzon Pharmaceutical are the top companies operating in the oncology adjuvant market.
