The Cachexia Treatment Market is expected to grow at a decent In Upcoming Years. The cutting-edge technologies, software, and automation are being efficiently driven by digital transformation. Everything – flexible hours of productivity and the evolution of new business is seeing the light of the day due to digital solutions being provided. Both – process and discrete industries would be able to lay their hands on the specific requirements of the end-users with digitization by their side. This would be the running trend in the forecast period.
Cachexia is a wasting syndrome characterized by extreme weight loss, anorexia, asthenia and anaemia. This syndrome affects populations who were in the late stages of severe diseases like cancer, HIV or AIDS, kidney disease, COPD and congestive heart failure (CHF). Appetite stimulants, anti-inflammatory drugs, Corticosteroids, Enobosarm and Other Anabolics are most commonly used for cachexia treatment.
The COVID-19 pandemic has an impact on several industries. Due to COVID-19 outbreak, the rate of patients visiting the hospitals has declined which contributed to the reduction in the diagnosis rate of cancer patients and patients seeking treatments. Besides, the manufacturing industries are mostly obstructed due to lockdown causing unparalleled technology and transfigure of business model. These might cause a disturbance in the supply of medicines most commonly imports from China due to global limitations, this is affecting cancer and its associated treatment.
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Rising prevalence of cancer cachexia and along with the development of novel therapy for its treatment will drive the cachexia treatment market growth. The increase in the elder population is another major factor which may propel the growth of the global cachexia treatment market.
Also, an increasing patient awareness level and investment of government into the advancement of healthcare facilities are some of the influencing factors for the growth of global cachexia treatment market. However, some factors can restrain the cachexia treatment market growth such as treatment for cachexia is mostly affected by certain adverse effect associated with cachexia therapy.
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The global cachexia treatment market is likely to grow over the forecast period with the increasing demand for combination therapy for cancer patients. Progestogens held the dominant share in the cancer cachexia treatment market in the year 2019. This is mainly due to the effectiveness and safety of progestogen in the cachexia treatment as well as its cost-effectiveness. Comparatively, Progestogens is expected to remain demanding over the next few years owing to its efficacy than others.
Weight loss stabilizers dominate cachexia treatment market due to extreme weight loss occurs in the patients suffering from cancer and physicians recommending weight loss stabilizers to counter the weight loss as well as to improve the quality of life of cancer patients suffering from cachexia. Based on indications, cancer cachexia segment has a larger share in cachexia treatment market, as the prevalence of cachexia in cancer patients is high (60-80%), when compared with COPD or CIF (5% and 15% respectively).
Based on the distribution channels, the hospital pharmacies are expected to be the most profitable segment in the global cachexia treatment market due to the increasing number of hospital footfall for the treatment of cancer.
North America is expected to hold a major share in the cachexia treatment market due to the increasing prevalence of cancer patients. North America is expected to be followed by Europe due to rise cases of a chronic condition such as cancer and an increase in awareness about the cachexia treatment as well as advanced healthcare facilities. The Asia Pacific is also expected to have a rapid growth in the global cachexia treatment market due to the increased in government initiatives, investment of prominent company as well as advancement in the healthcare facilities.
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The key participants operating in the global Cachexia treatment market are Alder Biopharmaceuticals Inc., GTx Inc., Helsinn Group, Merck & Co. Inc., Bristol-Myers Squibb Company, Inc., Helsinn Healthcare S.A., PsiOxus, Purdue Pharma L.P., Eterna Zentaris Inc., Aphios Corporation, Eli Lilly and Company. Aeterna Zentaris Inc, Aphios Corporation, Neurim, Novartis AG, Pernix Therapeutics, Pfizer Inc, SkyePharma, Sanofi Pasteur, Takeda Pharmaceutical Company, Therapeutics Ltd, and Obexia AG, XBiotech.
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