The compounding chemotherapy market is comprised of pharmaceutical services and sterile preparations of customized chemotherapy regimens in specific drug dosages, combinations, and volumes. Compounding pharmacies prepare these personalized chemotherapy drugs for patients who require an alternative to commercially available chemotherapy drugs based on their individual needs, like alternative routes of administration, specific dosages, or mixtures of different chemotherapies. The products involved in compounding chemotherapy include oral solids, oral liquids, topical preparations, suppositories and sterile preparations. Chemotherapy drugs are commonly used in the treatment of cancer to shrink tumors or slow their growth. The rising prevalence of various types of cancer such as breast cancer, lung cancer, prostate cancer and colorectal cancer globally has increased the demand for chemotherapy as one of the major treatment options. According to estimates by the American Cancer Society, there were 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States in 2022. The global compounding chemotherapy market is estimated to be valued at US$ 11.76 Bn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Compounding Chemotherapy Market Size are Singapore Airlines, Air New Zealand, Qantas, Qatar Airways, Virgin Australia, Emirates, All Nippon Airways, EVA Air, American Airline, Spicejet, The Boeing Company, Airbus SE, Lockheed Martin Corporation, Textron Inc, Embraer S.A. These players focus on expanding their service portfolio and geographical presence globally to strengthen their market position. For instance, in 2022, Singapore Airlines announced plans to resume more international flights from May 2022 in a phased manner as countries ease COVID-19 related travel restrictions.
The key opportunities in the compounding chemotherapy market include growing need for personalized cancer treatment, increasing demand for alternative medication formulations, and shortage of commercially available chemotherapy drugs. Major players are focusing on investment and partnerships to tap these opportunities through new product launches and service expansion.
The global expansion of key players operating in the compounding chemotherapy market through partnerships, mergers and acquisitions, and new service launches in emerging markets will further drive the market growth. For instance, in 2023, Singapore Airlines expanded its services to six new destinations in India including Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad and Cochin to capitalize on the increasing demand for international travel from India.
Market drivers
Rising prevalence of cancer - The increasing incidence of various types of cancers such as lung cancer, breast cancer, prostate cancer, and colorectal cancer globally has resulted in high demand for effective treatments including chemotherapy. It is estimated that cancer burden will further increase considerably in the coming decades.
Market restraints
Stringent regulatory requirements - Regulatory bodies like the FDA and EMA have stringent conditions for approval, manufacturing practices and quality standards for compounding pharmacies providing customized chemotherapy drugs. Extensive documentation and compliance requirements add to industry costs.
Segment Analysis
The compounded chemotherapy market can be segmented based on drugs class, therapeutic area and distribution channel. Based on drugs class, the market is divided into alkylating agent, antitumor antibiotic, enzyme inhibitors, antimetabolites and others. The antimetabolites segment currently dominates the market due to wide applications in cancer treatment. These drugs suppress DNA replication by substituting normal metabolites required for DNA synthesis.
Based on therapeutic area, the market is categorized into lung cancer, breast cancer, ovarian cancer, leukemia, lymphoma and others. The breast cancer segment holds the maximum share as it is the most common type of cancer amongst women globally. Compounding chemotherapy drugs are majorly used for adjuvant treatment of breast cancer after surgery.
Global Analysis
North America holds the largest share in the global compounded chemotherapy market due to increasing cancer incidence and growing adoption of novel drugs. Furthermore, supportive reimbursement policies for chemotherapy drugs boost the market growth in the region. Europe is expected to witness rapid growth during the forecast period on account of rising geriatric population susceptible to cancer.
Asia Pacific is projected to be the fastest growing region in compounded chemotherapy market owing to improving healthcare infrastructure, surging medical tourism and increasing awareness about cancer treatment. Rising disposable incomes encourage patients to opt for advanced therapies like compound chemotherapy in the region. Additionally, presence of generic drug manufacturers fuels the market expansion in Asia Pacific.
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