Increasing Prevalence of Cancer to Augment the Cytotoxic Drugs Market Growth

 

Cytotoxic drugs are widely used as anti-cancer agents to destroy tumors and cancer cells by inhibiting cell division and diminish cancer symptoms, reduce metastasis, and boost the outcomes of radiotherapy or surgery. Cytotoxic drugs are also used to treat rheumatoid arthritis, auto-immune conditions, psoriasis, and to prevent transplant rejection. Increasing utilization of cytotoxic drugs and increasing number of cytotoxic drug approvals by regulatory bodies is the major factor driving the cytotoxic drugs market growth. For instance, in 2018, the Food and Drug Administration (FDA) approved 19 applications for new cancer drug and biologics as well as 38 supplemental indications and four biosimilars.

FDA approved larotrectinib, the first ever oral tyrosine kinase inhibitor for the treatment of adult and pediatric patients with solid tumors that have a neurotrophic receptor tyrosine kinase gene fusion without a known acquired resistance mutation. Cytotoxic drugs are classified as hazardous and can cause adverse health effects from exposures in the workplace. The more common routes of exposure are exposure to skin or mucous membranes, ingestion, and inhalation. Moreover, unsafe handling of cytotoxic drugs has been reported to cause birth defects, genetic damage, fertility problems, organ toxicity, and cancer.

With the increasing prevalence of cancer worldwide, the demand for cytotoxic drugs is also increasing. The American Cancer Society estimated that, in 2020, there will be around 1.8 million new cancer cases and 606,520 cancer deaths in the United States. Moreover, the cytotoxic drugs market is witnessing significant growth due to the availability of wide range of cytotoxic drugs and the increasing awareness among people about these drugs. Thus, market players are focused on launching novel drugs to meet increasing demand due to increasing incidence of cancer worldwide.

For instance, in April 2019, Sun Pharmaceutical launched INFUGEM injection, used for treatment of cancer, in the US market. Sun Pharma received approval for INFUGEM injection from the US Food and Drug Administration (USFDA) in July 2018 in combination with other drugs for the treatment of breast, ovarian, non-small cell lung cancers, and as a single agent for the treatment of pancreatic cancer. However, adverse side effects associated with consumption of cytotoxic drugs is the major restraining factor for the cytotoxic drugs market growth.

Asia Pacific is expected to witness significant growth in the cytotoxic drugs market due to large patient pool and favorable government initiatives in the region. For instance, in 2018, the Indian government launched Pradhan Mantri Jan Arogya Yojana to provide health insurance worth US$ 7,124.54 to over 100 million families, every year.