Radiation Proctitis Treatment Market to Grow At 7% CAGR; High Demand for Oral Treatment Options Boosts Growth, Fact.MR
Rising popularity of anti-inflammatory drugs for treating radiation induced rectal bleeding is facilitating radiation proctitis treatment market growth.
Fact.MR, New York: As per a study by Fact MR, the global radiation proctitis treatment market is expected to surpass the valuation of US$750 Mn by the end of 2031. Hyperbaric oxygen treatment has yielded promising results during treatment of severe radiation induced symptoms. Research and development in the field of oncology and medicine will escalate the demand for radiation proctitis treatment.
According to report published by the World Health Organization (WHO), around 600,000 women are diagnosed with cervical cancer by 2020. That is around 6.5% of all female cancers. Radiotherapy is usually recommended as a main treatment option. Cancer recurrence is also treated by employing radiotherapy. Extensive use of radiation therapy will lead to radiation proctitis boosting the radiation proctitis treatment market growth.
“Soaring incidence of cervical cancer and encouragement towards using radiation therapy as treatment option have led to jump in radiation proctitis cases. Market players are constantly working towards developing highly efficient treatment, thus driving the market growth”, said a lead analyst at Fact.MR.
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Radiation proctitis treatment market: Key Findings
- Growing prevalence of prostate cancer and other pelvic malignancies in US has fuelled the demand for radiation proctitis treatment.
- Surging demand for use of high energy x-ray to treat various forms of cancer in UK will assist in radiation proctitis treatment market growth.
- High dependence on radiotherapy for cancer treatment and increasing funding towards cancer research in Germany will drive the market growth.
- Growing customer preference towards minimal invasive and oral therapy using Sulfasalazine and balsalazide will further propel the market growth.
- Increasing use of microbiotics towards treatment of chronic radiation proctitis will drive the market expansion.
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Radiation proctitis treatment market – Key Driving Factors
- Introduction of anti inflammatory drugs for treating severe radiation symptoms and side effects fuels the market growth.
- Increasing use of hyperbaric oxygen therapy for treatment of severe proctitis boosts the market demand.
- Soaring demand of radiation therapy in pharmaceutical sector for treating cervical, rectal and prostate cancer boosts market growth.
Radiation proctitis treatment market – Key Restraints
- Expensive radiation proctitis treatment procedure along with grim radiation induced symptoms hinders the market growth.
- Consistent efforts towards developing alternative treatments for radiation proctitis will impede the market growth in future.
- Lack of healthcare infrastructure coupled with low awareness regarding the treatment in developing countries hampers the market expansion.
Radiation proctitis treatment market – COVID-19 Impact
COVID-19 pandemic stressed the global healthcare system to its core. The impact of the pandemic varied on regional basis. Redirection of skilled staff towards COVID patients and reduced funding slowed the radiation proctitis treatment market. Disruption of supply chain led to delay in raw material procurement negatively affecting the market growth. Lockdown led to closure of manufacturing sectors leading to shortage of radiation proctitis treatment equipments further hampering the market sales.
Some of the leading radiation proctitis treatment manufacturers are Allergan Plc., Amneal Pharmaceuticals Inc., Mylan Inc. (Viatris), Johnson & Johnson (Johnson & Johnson Consumer Inc.), Environmental Tectonics Corporation, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Sanofi SA, Pharmaceutical Industries Ltd., Sun , Sechrist Industries Ltd. The market is highly consolidated and is forcing market players towards developing new products to strengthen their foothold. They are also collaborating and doing strategic merger to further their market reach and working towards regulatory approvals from concerned agencies.
For instance, Sanofi SA acquired Kiadis Pharma in April 2021 to strengthen its market position in the immuno-oncology sector. Pfizer Inc. collaborated with Myovant Sciences in December 2020 with the mission to develop and commercialize ORGOVYXTM for advanced prostate cancer and gonadotrophin-releasing hormone (GnRH) receptor antagonist to advance women’s health.
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More Insights on the radiation proctitis treatment market
In its latest report, Fact.MR offers unbiased analysis of the radiation proctitis treatment market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of indication (Acute Radiation Proctitis Treatment, Chronic Radiation Proctitis Treatment), Therapy (Oral Therapy, Ablative Procedures, Hyperbaric Oxygen Therapy, Formalin, Surgery) across five regions (North America, Latin America, Europe, Asia Pacific, MEA).
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