Research Nester released a report titled “5-HT3 receptor antagonists Market: Global Demand Analysis & Opportunity Outlook 2030″ which delivers detailed overview of the global 5-HT3 receptor antagonist market in terms of market segmentation by distribution channel, indication, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global 5-HT3 receptor antagonist market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030 on account of the increasing prevalence of cancer due to changes in lifestyle and increasing pollution globally. The 5-HT3 receptor antagonists drug are given to patients to control post-operative and post-chemotherapy nausea and vomiting. Furthermore, the growing number of chronic diseases that require surgeries are estimated to boost the market growth. According to data provided by National Cancer Institute, nausea and vomiting occur in up to 80% of chemotherapy sessions.
The market is segmented based on indication into post-operative induced nausea and vomiting, radiation-induced nausea and vomiting, chemotherapy-induced nausea and vomiting, and others. The post-operative nausea segment is anticipated to grab a significant share by the end of 2021, on account of an increasing number of surgeries due to the up-surge in prevalence chronic diseases, such as cardiovascular diseases, arthritis and others.
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Regionally, the market is segmented into five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific region is estimated to grow at the highest CAGR throughout the forecast period owing to the high geriatric population, increasing healthcare investment, and economic development in the region. Currently, the market in North America region holds the largest share owing to the early adoption of medicines and drugs, accompanied by presence of leading healthcare companies in the region.
Increase in Prevalence of Cancer to Drive the Market Growth
According to the data collected from WHO, about 1 in 6 deaths is due to cancer, and it caused over 10 million deaths in 2020.
The rapidly increasing prevalence of cancer and chronic diseases, such as, cardiovascular diseases, backed by the changing lifestyle patterns and growing pollution worldwide are estimated to boost the market growth. Moreover, the increasing geriatric population, leading to the use of the drug during surgeries, is also estimated to support the growth of the market.
However, competitive therapies with fewer side effects and higher efficiency are expected to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global 5-HT3 receptor antagonists market which includes company profiling of Pfizer Inc., Novartis AG, Johnson & AstraZeneca, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Merck & Co. Inc., GlaxoSmithKline plc, Eli Lilly and Co., and Bristol Myers Squibb Co. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 5-HT3 receptor antagonists market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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