Anti-inflammatory Drugs and HBOT Treatment to Provide Significant Nudge to Radiation Proctitis Treatment Market
Published : 21 Apr 2021 Industry: Healthcare
Award-winning consulting firm Fact.MR’s radiation proctitis treatment market report forecasts a positive growth trajectory for 2021 and beyond, majorly attributed to increasing frequencies of radiation therapy for various types of pelvic cancers. As per the report, the market is poised to reach nearly US$ 750 million by 2031, expanding at approximately 7% CAGR over the next ten years.
The market posted significant gains in the past, valued at over US$ 300 million in 2019. According to the International Agency for Research on Cancer, 1 in 5 people develop cancer during their lifetime, with breast cancer topping the list (~25%). Simultaneously, incidence of prostate and cervical cancer is also rising, prompting patients to seek powerful radiation treatment.
Consequently, radiation proctitis incidence has also surged, with studies advocating that external beam radiation causing incidence rates to vary anywhere between 2% to 39%, while intensity modulated radiation therapy (IMRT) incidence rates vary from 1% to 9%. Hence, prominent manufacturers are introducing a plethora of oral and surgical treatment approaches, with specific emphasis on anti-inflammatory drug production and hyperbaric oxygen therapy (HBOT).
Key Takeaways from Market Study
- By indication, acute radiation proctitis treatment remains dominant, with chronic radiation proctitis treatment to expand swiftly
- Anti-inflammatory drug-based oral therapy to remain the most preferred treatment for radiation proctitis
- Incorporation of hyperbaric oxygen therapy to fuel radiation proctitis treatment prospects across the U.S.
- The market in the U.K. experiencing high growth amid increasing cervical cancer treatment procedures
- Broadening cancer research funding to bolster sales of radiation proctitis treatment solutions in the German market
“Ever-increasing burden of pelvic cancer is prompting patients to seek highly effective treatment approaches, leading to a spike in radiation proctitis incidences, compelling them to seek effective treatment,”remarks a Fact.MR analyst.
Key market players are majorly emphasizing on developing new treatment approaches, including potential drug candidates in the oncology segment, as well as concentrating on capacity expansion by virtue of collaborations and acquisitions.
- For instance, in 2019, Sun Pharmaceutical Industries Ltd. entered into a licensing agreement with AstraZeneca UK Ltd. to introduce certain novel ready-to-use (RTU) infusion oncology products in China. As per the agreement, Sun Pharma is responsible for the development, regulatory filings, and manufacturing of the products, while AstraZeneca will exclusively distribute them across China.
- Regarding product offerings, Sechrist Industries Ltd. offers a wide range of hyperbaric oxygen chambers, including the Monoplace Hyperbaric Chamber Gurney Storage, the Model 4100 Hyperbaric Oxygen Chamber, the Model 3600H Hyperbaric Oxygen Chamber, the Model 3300H Hyperbaric Chamber, and the Model 2800 Hyperbaric Classic Pneumatic Chamber.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the radiation proctitis treatment market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of indication (acute radiation proctitis and chronic radiation proctitis) and therapy (oral therapy, ablative procedures, hyperbaric oxygen therapy, formalin, and surgery), across five major regions of the world (North America, Latin America, Europe, Asia Pacific, and MEA).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Healthcare