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The antiemetics and antinauseants market has been on an upward growth curve recently, set to grow from $7.75 billion in 2023 to $8.09 billion in 2024 at a compound annual growth rate CAGR of 4.3%. Key contributing factors for this expansion during the historical period include strong branding and heightened market competition, traditional treatment preferences, robust economic conditions, global health events and advancements in medical research.
How Will The Antiemetics And Antinauseants Market Fare In The Coming Years?
Expectations point towards a steady growth in the antiemetics and antinauseants market over the next few years. It is projected to expand further to $9.46 billion in 2028 at a CAGR of 4.0%. This forecasted growth can be attributed to committed research and development initiatives, economic factors, market competition, industry trends, changing disease patterns, and healthcare policies and regulations. Major trends likely to be witnessed during the forecast period include a heightened focus on the patient experience, evolving healthcare policies, a consumer preference for non-invasive treatments, the rising prevalence of chemotherapy and pregnancy-related nausea, and the emergence of targeted therapies.
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What Are The Key Factors Driving Growth In The Antiemetics And Antinauseants Market?
The antiemetics and antinauseants market's growth is propelled by the rising prevalence of cancer. As one of the most recommended treatments to cure cancer, chemotherapy often results in side effects such as chemotherapy-induced nausea and vomiting CINV. Antiemetics are a valuable aid to prevent CINV in about 60%-70% of patients. As per WHO reports, the incidence of cancer globally has risen to 18.1 million new cases and 9.6 million deaths. Another report by the Centers for Disease Control and Prevention states that about 650,000 cancer patients in the USA receive chemotherapy in an outpatient oncology clinic each year. The CINV caused by chemotherapy treatments is alleviated by using antiemetic and antinauseant drugs like Dolasetron Anzemet, Ranitidine Zantac, and other serotonin 5-HT3 receptor antagonists. Therefore, an increase in the incidence of cancer will boost the demand for antiemetics and antinauseants, thereby contributing to the market's revenue.
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Which Companies Are Leading In The Antiemetics And Antinauseants Market?
Key industry players featuring in the antiemetics and antinauseants market report include Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Bayer AG, Novartis AG, Sanofi SA, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Cipla Ltd., Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Kyowa Hakko Kirin Pharma Co. Ltd., Daiichi Sankyo Company, Braun GmbH, Eisai Co. Ltd., Sun Pharmaceuticals Industries Ltd., Dr. Reddy's Laboratories, Hikma Pharmaceuticals plc, IPCA Laboratories Ltd., Eagle Pharmaceuticals Inc., Cadila Pharmaceuticals Ltd., Bristol Laboratories Ltd., Tesaro Inc., SRS Pharmaceuticals Pvt. Ltd., Acacia Pharma Ltd., Algen Healthcare Ltd., Mirabilia Sciences Pvt. Ltd., Helsinn Healthcare SA.
What Are The Emerging Trends In The Antiemetics And Antinauseants Market?
Manufacturers in the antiemetics and antinauseants market are leveraging nanotechnology to deliver therapeutic agents to specifically targeted sites in a controlled manner through Nanomedicine and Nano delivery systems. The medical application of nanotechnology, Nanomedicine, uses nanoparticles to enhance the action of the drug in treatment. The design and production aspects of nanotechnology involve controlled manipulation of size and shape at the nanometer scale. The antiemetic and antinauseant drug manufacturers are increasingly inclined towards the use of Nanomedicine or Nano drugs to make the medication more effective, which in turn, boosts their revenues. Merck & Co., an American multinational pharmaceutical company, has led the way, manufacturing Aprepitant under the brand name Emend. It's the first FDA-approved drug for preventing acute chemotherapy-induced nausea and vomiting CINV that employs nanotechnology to allow more efficient and easier absorption of the drug.
Understanding the Segmentation Of The Antiemetics And Antinauseants Market
The market for antiemetics and antinauseants in this report is segmented into:
1 By Drug: Dopamine antagonists, NK1 receptor antagonist, Antihistamines H1 histamine receptor antagonists, Cannabinoids, Benzodiazepines, Anticholinergics, Steroids, 5-HT3 receptor antagonists, Other Drug Types
2 By Application: Chemotherapy, Motion sickness, Gastroenteritis, General anaesthetics, Opioid analgesics, Dizziness, Pregnancy, Food poisoning, Emotional stress, Other Application Types
3 By End Users: Hospital, Medical Center, Clinic, Research Institutes.
Regional Insights Into The Antiemetics And Antinauseants Market
North America held the lion's share in the antiemetics and antinauseants market as of 2023. Meanwhile, the Middle East is set to be the fastest-growing region during the forecast period. Other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, and Africa.
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