Global Alternative Cancer Therapeutics Market is Anticipated to Witness Impressive Growth During the Forecast Period. this Can be Ascribed to the Rising Aging Population, Which is Susceptible to Different Types of Cancers.
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Growing Prevalence of Cancer
The increasing incidence of adenocarcinoma, lymphoma, and gastrointestinal stromal tumors, lung cancer, breast cancer due to the consumption of alcohol, tobacco, and unhealthy food by the majority of the population across the world is driving the market growth during the forecast period. Similarly, the rising aging population, which is susceptible to chronic diseases like stomach cancer, one of the most common deadly cancers worldwide among older males, will boost the market growth in the forecast period. In 2022 the National Cancer Institute estimated around 26,380 new stomach cancer cases and 11,090 deaths in the United States. In developing countries, stomach cancer is diagnosed more in males than females. The increasing prevalence of gastric cancer across the North American region and also across different parts of the globe has increased the demand for effective therapies for treating patients, which in turn is expected to propel the market growth during the forecast period. For instance, according to the 2021 statistics published by the Canadian Cancer Society, 4,000 Canadians were estimated to develop gastric cancer in 2021. Similarly, growing initiatives by the government to promote the adoption of alternative cancer therapeutics are also boosting the growth of the market over the years. Also, the Ministry of Ayush in India was set up by the government of India to look into matters related to the education, product, and research of naturopathy, Ayurveda, and homeopathy medicines. Therefore, the rising government investments in the growth of alternative therapies is fuelling the demand for various complementary and alternative cancer treatment.Rising Healthcare Expenditure
Due to the increasing technological developments in the research and development sector in the healthcare industry and the use of alternative therapies in cancer diagnosis, the demand for alternative cancer therapy is expected to create a lucrative growth in the forecast period. Similarly, private and government organizations are supporting the research and development sector with the help of pharmaceutical and biotechnology firms which is further boosting the market growth in the forecast period. The funding for cancer research is rapidly increasing, and most of the government funding is for breast cancer and childhood cancer. In 2019 the National Institutes of Health (NIH) invested USD460 million in breast cancer, which increased to USD3.5 billion in the year 2022.Market Segmentation
Global alternative cancer therapeutics market can be segmented on therapy type, disease type, end users, region, and competitive landscape. Based on the therapy type, the market can be segmented into Hormone Therapies, Acupuncture, and Dietary Supplements, among Others. Based on Diseases Type, the market can be segmented into Gastrointestinal, Lung Cancer, Breast Cancer, Colorectal Cancer, Leukemia, Lymphoma, Melanoma, Prostate Cancer, and Others. Based on the End Users, the market can be differentiated into Hospitals and Clinics, cancer and Radiation Therapy Centers, Home Care, and Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominated the global alternative cancer therapeutics market on account of the increasing incidence of different types of cancer in the country.Recent Development
- In February 2018, Health Canada approved Janssens Zytiga in combination with prednisone and androgen deprivation therapy for the treatment of patients with newly diagnosed, high-risk metastatic hormone-sensitive prostate cancer who have received up to three months of prior androgen deprivation therapy.
- In April 2020, the US FDA supported Trodelvy (sacituzumab govitecan-hziy) for the therapy of adult patients with triple-negative breast cancer. Trodelvy is a Trop-2-coordinated immunizer and topoisomerase inhibitor drug form which focuses on the Trop-2 receptor that helps cancer develop, separate, and spread.
Market Players
Innovative Medicine, LLC. , Northwest Natural Health Clinic, Immunotherapy Institute, Georgia Cancer Specialists, Holistic Bio Spa, Johnson & Johnson, Celgene Corporation, Astellas Pharma, Inc., Novartis AG, and Merck KGaA are some of the leading players operating in the Global Alternative Cancer Therapeutics Market.Report Scope:
In this report, global alternative cancer therapeutics market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:Alternative Cancer Therapeutics Market, By Therapy Type:
- Hormone Therapies
- Acupuncture and Dietary Supplements
- Others
Alternative Cancer Therapeutics Market, By Disease Type:
- Gastrointestinal
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Leukemia,
- Lymphoma
- Melanoma
- Prostate Cancer
- Others
Alternative Cancer Therapeutics Market, By End Users:
- Hospitals and Clinics
- Cancer and Radiation Therapy Center
- Home Care
- Others
Alternative Cancer Therapeutics Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Alternative Cancer Therapeutics Market.Available Customizations:
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Innovative Medicine, LLC
- Northwest Natural Health Clinic
- Immunotherapy Institute
- Georgia Cancer Specialists
- Holistic Bio Spa
- Johnson & Johnson
- Celgene Corporation
- Astellas Pharma, Inc.
- Novartis AG
- Merck KGaA