Biologics and pharmaceutical organizations are adopting practices that ensure the availability of the product in the market at a rapid pace. This strategic approach is helping them bolster their position in the global cancer cachexia market.
Clinical trials in progress in oncology field have highlighted the multifactorial pathogenicity of cachexia. Understanding the mechanism of cancer cachexia has become crucial for the understanding of prognostic factors for cancer. Cachexia is often a permanent side effect of diseases like HIV and Cancer.
Top impacting factors: Market Scenario Analysis:
Factors like increasing prevalence of cancer and cancer cachexia in patients, the demand for therapeutic treatment and drugs have increased all over. This rising demand for therapeutics in the market has accelerated the R&D activities in order to develop novel therapeutic drugs. This has led to creation of a strong product pipeline consisting various therapy products. These factors have been major reason for the growth of the market. In addition, increased awareness has regarding this syndrome and advancements related to treatment of cancer cachexia has also helped the market growth.
On the contrary, lack of studies and research that could explain high efficacy of a specific treatment, making the progress in the cancer cachexia market has been considerably at slower pace. The manufacturers of cancer cachexia drugs are hesitant while investing in the market because of the stringent regulatory guideline which may restrict the long-term growth of this market.
North American region expected to dominate the Cancer Cachexia Market
The U.S. alone accounted for an estimated 1.8 million cancer patients and over 606,000 deaths in 2019 and this number is expected to grow with time. American region is expected to grow due to factors like rising incidence of cancer patients and hence cancer cachexia as well with the presence of large number of drug manufacturers and key players in the market along with advancing paradigm of care for cancer patients that is supporting the growth in this region. As a result, this segment holds the largest market share.
COVID – 19 scenario analysis:
- Due to the COVID – 19 outbreak, majority of healthcare, pharmaceutical and biotechnology organizations have concentrated on diagnostics kits, safety wearables (PPE kits, face shields, masks) and treatment therapies and medication against Novel coronavirus
- R&D labs are also focusing on finding a breakthrough vaccine against novel coronavirus
- In addition, the medical professionals are engaged in providing COVID-19 related services, as a result, other healthcare segments have to face negligence.
Companies covered:
Eterna Zentaris, Alder BioPharmaceuticals Inc., Eli Lilly and Company, GTx Inc., Merck & Co. Inc., Novartis AG, Bristol-Myers Squibb Company, XBiotech, Inc., Pernix Therapeutics, Pfizer Inc, and Purdue Pharma L.P., Sanofi, SkyePharma, Takeda Pharmaceutical Company.
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