Peritoneal Cancer Market to grow at highest pace owing to rising cancer awareness

 

The peritoneal cancer market comprises of products such as chemotherapy drugs and equipment used to administer chemotherapy for peritoneal cancer treatment. Some key chemotherapy drugs used in peritoneal cancer treatment include cisplatin, carboplatin, paclitaxel, and bevacizumab. Equipment involved include elastomeric pumps, infusion systems, and catheters. Peritoneal cancers arise from the peritoneum, which is a thin layer of tissue that lines the inner wall of the abdomen and covers most of the abdominal organs. Peritoneal cancers are rare but aggressive types of cancer that affect the abdominal area. Early signs and symptoms are vague but may include abdominal pain, swelling in the abdomen, and weight loss. Advances in early detection through improved imaging technologies and minimally invasive surgical techniques have enabled faster diagnosis and treatment of peritoneal cancers.

The Global peritoneal cancer therapeutics market is estimated to be valued at US$ 562 million in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2024-2032.

Key Takeaways

Key players operating in the peritoneal cancer market are Eli Lilly and Company, Pfizer Inc., Celgene Corporation, Merck KGaA, and Bristol-Myers Squibb. Eli Lily dominates the market with its key chemotherapy drugs including Alimta and Erbitux.

Growing cases of abdominal cancer types such as ovarian cancer and gastrointestinal cancer are driving the demand for peritoneal cancer drugs and devices. According to WHO, ovarian cancer reported 5,69,847 new cases globally in 2020. Early diagnosis of peritoneal metastasis is prompting increased demand.

Technological advancements in diagnostics through improved imaging technologies and minimally invasive surgical procedures are enabling faster diagnosis and localized drug delivery methods like hyperthermic intraperitoneal chemotherapy (HIPEC), which is boosting the peritoneal cancer market growth. Developments in targeted drug therapies are also expanding treatment options.

Market Trends

Increasing partnerships between pharma companies and cancer institutes to develop novel treatments for rare peritoneal cancers is a key trend. For instance, in 2021, Chugai Pharmaceutical announced partnership with National Cancer Center to develop immunotherapy drugs for pseudomyxoma peritonei.

Rising focus on personalized medicine and companion diagnostics is another notable trend. Companies are developing therapies with biomarkers to deliver customized care based on patients' genetic makeup and cancer characteristics. This is expected to drive the segment growth.

Market Opportunities

Untapped emerging markets in Asia Pacific and Latin America owing to increasing healthcare spending and lack of awareness present major opportunities for key players.

Growth opportunities lie in developing innovative drug delivery systems like nano-carriers and implantable pumps for localized targeted drug release and reduced systemic side effects.

Impact of COVID-19 on Peritoneal Cancer Market Growth

The COVID-19 pandemic has significantly impacted the peritoneal cancer market. During the initial phases of the pandemic, restrictions on non-essential medical procedures and people's reluctance to visit hospitals resulted in delay of cancer screening, surgeries, chemotherapy and other vital treatments. With a majority of healthcare resources focused on handling the rising number of COVID cases, resources for cancer care were diverted. This proved detrimental for peritoneal cancer patients whose conditions require timely interventions. However, as the pandemic spread, telehealth emerged as an important tool to continue cancer consultations and management of stable patients virtually.

As the pandemic lingers, healthcare systems are learning to provide cancer care while protecting against coronavirus spread. Hospitals have implemented stringent safety protocols like separate treatment areas, regular sanitization and protective gear for staff. While surgeries and treatments saw initial declines, the numbers are gradually increasing as COVID-19 situation stabilizes in many regions. The pandemic underscored the need for innovations in cancer care delivery to minimize disruptions in future health crises. Telehealth and home-based monitoring are likely to see higher adoption going forward. Vaccination drives also aim to normalize healthcare access. Overall, though COVID-19 slowed peritoneal cancer market growth initially, a coordinated response is helping the market recover in the post-pandemic period.

In terms of value, North America accounts for the largest share of the global peritoneal cancer market currently. This is due to advanced healthcare infrastructure and widespread medical insurance in the region which facilitates early detection and effective management of the disease. Research activities are also high and new treatment options are regularly approved. Furthermore, America has a sizeable patient population and progressive reimbursement structure, supporting market growth.

Asia Pacific is expected to witness the fastest growth over the forecast period owing to improving economic conditions, rising healthcare spending, growing public awareness about cancer and expanding healthcare infrastructure in populous countries like China and India. Rising medical tourism in the region coupled with initiatives to boost cancer care accessibility will further support peritoneal cancer market growth in Asia Pacific going forward.

Get more insights on this topic : https://nouw.com/ajay100/peritoneal-cancer-market-to-witness-high-growth-attributed-to-increasing-cancer-awareness-campaigns-38619893

What Are The Key Data Covered In This Peritoneal Cancer Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Peritoneal Cancer's growth between 2024 and 2031.

:- Accurate calculation of the size of the Peritoneal Cancer and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Peritoneal Cancer Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Peritoneal Cancer vendors

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it