Cancer Cachexia Market CAGR to reach 4.8% by 2023 Globallyjohndsouzaind | October 10, 2019 | 0 | Pharmaceutical and Healthcare
Global Cancer Cachexia Market Overview:
The global cancer cachexia market is anticipated to record a 4.8% CAGR over the forecast era, 2018-2023. Cachexia is a weight loss, muscle atrophy, exhaustion, weakness, and important appetite loss in someone who is not actively attempting to lose weight. Cachexia is seen in individuals with cancer, AIDS, coeliac illness, chronic obstructive lung illness, various sclerosis, rheumatoid arthritis, congestive heart failure, tuberculosis, family amyloid polyneuropathy, mercury poisoning acrodynia, Crohn’s illness, untreated/serious type 1 diabetes mellitus, anorexia nervosa, and hormonal deficiency.
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Growing Prevalence of Cancer Cachexia Boost the Demand of this Market:
Cachexias growing incidence, particularly in industrialized areas such as North America, Europe, and Japan, is the primary factor behind the important development of the global cancer cachexia industry. According to the 2014 Journal of Cachexia, Sarcopenia and Muscle, cachexia impacts around nine million patients worldwide, roughly 1 percent of the general patient pool. This factor is anticipated to generate more possibilities for current members and players looking to join the market over the next few years. The market is anticipated to develop due to growing knowledge among individuals and healthcare practitioners about cancer support care. In addition, the existence of pipeline drugs in stage 3 clinical trials, anticipated to be launched on the market over the next 2-3 years, is also anticipated to drive North America’s cancer cachexia market soon. A strong product pipeline also drives the forecast period market.
Stringent Regulatory Requirements Hinders this Market:
Manufacturers of cancer cachexia medicines are dissuaded from investing in the market owing to the stringent regulatory demands and lengthy FDA approval procedure, which may impede these markets’ long-term development. Cancer drug regulation allows patients to be protected from damaging drugs while ensuring that patients have access to high-quality, efficient medicines. Drug approval is really based on fulfilling regulatory authorities that the drugs therapeutic benefit outweigh any side effects disadvantages. Once authorized, drugs would still be tracked. Cancer drugs have both therapeutic impacts and side-effects. It is essential to monitor carefully that adverse effects do not outweigh therapeutic impacts. Because of this, regulations are stringent and can sometimes become an issue for producers. Hence, strict regulatory requirements restrict the cancer cachexia drug market.
Asia-Pacific to Register Highest CAGR in the Market:
Asia-Pacific Cancer Cachexia market is expected to experience high development during the forecast period. This is attributed to the presence of a large pool of undiagnosed patients, increasing urbanization, a rise in disposable income, and increasing support for healthcare from the government.
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Global Cancer Cachexia Market Key Players:
ÆternaZentaris Inc., Alder BioPharmaceuticals Inc., Aphios Corporation, Bristol-Myers Squibb Company, Eli Lilly and Company, GTx Inc., Helsinn Group, Merck & Co. Inc., Novartis AG, and XBiotech, Inc. among others.
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