LONDON--(BUSINESS WIRE)--According to a recent Technavio report, the cancer cachexia therapeutics market is expected to grow by USD 568.85 million during 2019-2023. Growth in the cancer cachexia therapeutics market can be attributed to many segments, one of which is the product segment comprising of corticosteroids, progestogens, combination therapies, and other therapeutics. Industry participants are focusing on analyzing maximum growth opportunities in the market by considering their prospects in the fast-growing segment, product segment.
What are the Latest Trends?
The lack of approved drugs for the treatment of cachexia in patients and administration of monotherapy with progestogens and corticosteroids have driven cancer patients and physicians to opt for alternative therapeutic approaches. Consequently, a combination of multiple medical and nutritional therapeutic interventions are gaining traction in the market. These therapeutics offer better safety and efficacy profiles. As per Technavio, the cancer cachexia therapeutics market is forecasted to grow at a CAGR of almost 6% by 2023.
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The adoption of combination of multiple medical and nutritional therapeutic interventions is leading to an increase in the use of novel pharmacological and non-pharmacological therapies in cancer cachexia treatment.
In addition, the availability of novel drugs and approaches for the treatment of cancer cachexia, such as hormone therapy and cannabinoids, is also increasing. This will further boost the preference for novel therapies.
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Developments in the field of Cancer Cachexia Therapeutics
Several vendors in the market are collaborating with pharmaceutical companies to develop advanced drugs and therapeutics such as progestogen and cannabinoids, along with anti-emetic agents such as REGLAN, metoclopramide, and dexamethasone. These drugs help in alleviating cancer cachexia-associated symptoms.
AbbVie Inc. is one of the several vendors operating in the cancer cachexia therapeutics space, and it collaborates with other pharmaceutical companies to develop targeted immunotherapy for various cancer indications.
For Further Market Information
More insights like this on the U.S. and global markets can be found in a series of reports published by Technavio entitled the Cancer Immunotherapies Market Analysis, Size, Trends | Global | 2019-2023 & Cancer Biologics Market Analysis, Size, Trends | Global | 2019-2023.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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