Compounding Chemotherapy Market to grow with a CAGR of 5.08%
Increasing healthcare infrastructure and
initiatives taken by the government are the major drivers for the Global Compounding
Chemotherapy Market.
According
to TechSci Research report, “Global Compounding Chemotherapy Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Compounding
Chemotherapy Market has valued at USD 5.07 billion in 2022 and is anticipated
to witness an impressive growth in the forecast period with a CAGR of 5.08 %
through 2028. This can be ascribed to collaborations and partnerships among
leading companies with a diverse approach to merge the expertise of individual
companies and to strengthen their position in the market.
Increased
cancer screening efforts drive the demand for the Global Compounding
Chemotherapy Market. Cancer screening programs aim to detect cancer at an
earlier, more treatable stage. As a result, more individuals are diagnosed with
cancer in its early stages, increasing the number of patients who require
cancer treatment, including chemotherapy. With the expansion of cancer
screening programs, the overall incidence of cancer diagnoses increases. This
higher incidence translates into a greater demand for cancer therapies and
medications. Increased cancer screening broadens the pool of patients eligible
for treatment. This includes individuals who may not have been diagnosed until
later stages of the disease without screening. Compounding chemotherapy
services are needed to accommodate the diverse needs of this expanded patient
population. Some cancer patients may require specialized chemotherapy
formulations based on their specific medical conditions or treatment plans.
Compounding pharmacies are essential for preparing these specialized
formulations to meet individual patient needs. Early detection allows for more
treatment options. Compounded chemotherapy can provide the flexibility needed
to adjust dosages, routes of administration, or combinations of drugs based on
individual patient responses and tolerances.
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Chemotherapy
is a pharmacological treatment designed to target rapidly dividing cells in the
body using potent drugs. It is primarily employed in cancer treatment because
cancer cells multiply much faster than most normal cells. To address the issue
of medication errors arising from factors like inadequate communication between
doctors and pharmacists, improper storage practices in pharmacies, and
confusion due to similar labels, an automated method for compounding
chemotherapy was introduced.
In June 2023, Cardinal Health has entered into a
binding agreement to transfer its Outcomes business to Transaction Data Systems
(TDS). This transaction involves Cardinal Health receiving a minority ownership
stake in the merged entity, which is a portfolio company of BlackRock Long Term
Private Capital and GTCR. The merged entity will build upon TDS's current
offerings related to clinical care delivery, medication therapy management, and
broadening revenue sources within the pharmacy sector. This expansion will
include the incorporation of Outcomes' digital tools, which encompass patient
engagement, virtual verification, order grouping, pill counting, and financial
insights. As a result of this collaboration between TDS and Outcomes, there
will be increased prospects for pharmacists to engage in sponsored clinical
interventions. Additionally, it will enhance access for payors and
pharmaceutical firms, ultimately aiming to improve patient care and outcomes.
Supply chain disruptions represent a significant
challenge in the Global Compounding Chemotherapy Market, as they can impact the
availability, quality, and timely delivery of critical components and
medications.
Compounding chemotherapy requires access to specific
raw materials, including active pharmaceutical ingredients (APIs) and
excipients. Supply chain disruptions, such as shortages or delays in the
production and distribution of these materials, can hinder the compounding
process and lead to treatment delays or shortages of compounded medications. Ensuring
the quality, purity, and safety of chemotherapy drugs is paramount. Supply
chain disruptions can disrupt the availability of high-quality raw materials
and components needed for compounding. This can compromise the integrity of
compounded medications and patient safety.
Global Compounding Chemotherapy Market segmentation
is based on Drug Type, Route of Administration, Cancer Type, By Company, Distribution
Channel and Region.
Based on Drug Type, Global Compounding Chemotherapy
Market is segmented into Cytotoxic Drugs, Hormonal Agents, Immunomodulatory
Agents, Targeted Therapies, Supportive Care Drugs. Cytotoxic
drugs, also known as cytostatic or antineoplastic drugs, are a class of medications
primarily used in the treatment of cancer and certain autoimmune diseases.
These drugs work by inhibiting or disrupting the growth and division of cells,
particularly rapidly dividing cells like cancer cells. Cytotoxic drugs are
designed to target and disrupt the growth of cells that divide rapidly. Cancer
cells, which multiply uncontrollably, are particularly vulnerable to the
effects of cytotoxic drugs. These drugs can also impact other rapidly dividing
cells in the body, such as those involved in the immune system, bone marrow,
and the gastrointestinal tract. Cytotoxic
drugs are a cornerstone of cancer treatment, often used in combination with
other therapies like surgery, radiation therapy, targeted therapy, and
immunotherapy. They can be effective in shrinking tumors, preventing the spread
of cancer, and killing cancer cells.
Based on Region, the North America segment is the dominating
segment of Global Compounding Chemotherapy Market. Many North American patients have
access to health insurance coverage, which may include coverage for compounded
chemotherapy drugs. This financial support can drive the demand for such
medications. The region has been at the forefront of adopting technological
advancements in healthcare, including compounding practices. Automation and
advanced equipment can enhance the precision and safety of compounding
chemotherapy drugs. North America hosts some of the world's largest
pharmaceutical companies, which often have specialized divisions or
partnerships for compounding chemotherapy drugs. This contributes to a robust
supply chain and availability of these medications. The region often conducts a
significant number of clinical research trials for new cancer treatments,
including chemotherapy drugs. These trials can create opportunities for
compounding pharmacies to supply investigational drugs. There is a growing
focus on personalized medicine and patient-centric care, which aligns with the
principles of compounding chemotherapy. Tailoring treatments to individual
patient needs is a key driver for the use of compounded drugs.
Asia
Pacific is the fastest-growing region in the Global Compounding Chemotherapy Market.
The Asia Pacific region has witnessed a significant rise in the incidence of
cancer in recent years. This increase is attributed to factors such as
population growth, aging demographics, lifestyle changes, and environmental
factors. With more cancer cases, there is a growing demand for cancer
treatments, including chemotherapy. Many countries in the Asia Pacific region
are investing in their healthcare infrastructure, including cancer treatment
facilities and oncology centers. This improved healthcare infrastructure is
better equipped to handle cancer diagnoses and treatments, leading to increased
demand for chemotherapy services. There is an increasing awareness of cancer
and the importance of early detection and treatment in many Asian countries.
Patients and healthcare providers are more informed about available treatment
options, including compounding chemotherapy, leading to greater adoption. The
Asia Pacific region has a rapidly aging population, which is more susceptible
to cancer. As the elderly population grows, so does the demand for cancer care,
including chemotherapy services tailored to their specific needs. Some
governments in the region have launched initiatives to improve cancer care and
access to treatments. These initiatives may include subsidizing cancer
treatments and promoting the use of advanced therapies, including compounding
chemotherapy.
Some
of the major companies operating in the Global
Compounding Chemotherapy Market include:
- Pfizer
Inc.
- Baxter
International Inc.
- Grifols
SA
- Comecer
S.P.A.
- Arxium
Inc.
- Dedalus
Group
- B. Braun Melsungen AG
- Omnicell Technologies Inc.
- The
Metrix Company
- Sterline
S.R.L
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“Certain areas, particularly in North
America, are projected to exert significant demand of Compounding Chemotherapy.
The growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the Global Compounding
Chemotherapy Market in the forecast period," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
Compounding
Chemotherapy Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented by Drug Type (Cytotoxic Drugs, Hormonal Agents,
Immunomodulatory Agents, Targeted Therapies, Supportive Care Drugs), By Route
of Administration (Intravenous, Oral, Subcutaneous, Intramuscular,
Intrathecal), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer,
Prostate Cancer, Leukemia, Lymphoma, Others), By Distribution Channel (Hospital
Pharmacies, Retail Pharmacies, Online Pharmacies), By Region, and Competition has
evaluated the future growth potential of Global Compounding Chemotherapy Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Compounding Chemotherapy Market.
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