5-HT3 Receptor Antagonists Market size was over USD 5.31 billion in 2024 and is poised to exceed USD 10.78 billion by 2037, witnessing over 5.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of 5-HT3 receptor antagonists is evaluated at USD 5.56 billion.
The rapidly increasing prevalence of cancer and other chronic diseases, such as, cardiovascular diseases are expected to fuel the growth of the market. The increasing number of chemotherapies and radiation therapies that induce nausea and vomiting surges the demand for the drug that aids in controlling nausea and vomiting post-chemotherapy and surgeries. HT3 receptor antagonists are used to control and curb the urge for vomiting, which is estimated to boost the 5-HT3 receptor antagonists market growth. Moreover, the geriatric population is more vulnerable to chronic diseases such as arthritis, stroke, and heart attack, leading to operations and surgeries, which is estimate to further promote the growth of the 5-HT3 receptor antagonist market. According the data by the WHO, in 2020, 9.318% of the total population of the world aged 65 years and above. Furthermore, the market development can also be attributed to the factors, such as, the increasing need for early diagnosis of the disease and increased research expenditure by governments and private organizations. In addition to this, the drug is also used in clinical trials to treat irritable bowel syndrome, arrhythmia, and schizophrenia, which is also expected to boost the 5-HT3 receptor antagonists market growth.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.60% |
|
Base Year Market Size (2024) |
USD 5.31 billion |
|
Forecast Year Market Size (2037) |
USD 10.78 billion |
|
Regional Scope |
|
On the basis of indication, the 5-HT3 receptor antagonists market is divided into postoperative induced nausea and vomiting, radiation-induced nausea and vomiting, chemotherapy-induced nausea and vomiting, and others. The postoperative nausea segment is anticipated to grab the most significant share by the end of 2021 on account of an increasing number of surgeries due to the increase in chronic diseases. Moreover, the chemotherapy-induced nausea segment is also expected to grow significantly over the forecast period due to the rising prevalence of cancer globally. According to a report by the World Health Organization, more than 10 million deaths were caused by cancer in 2020.
Based on distribution channel, the hospital pharmacies segment in market is projected to grow with a significant CAGR over the forecast period. The segment growth can be attributed surging adoption of technological medicines and drugs in hospitals, and increasing number of chemotherapy procedures being performed in hospitals.
Our in-depth analysis of the global market includes the following segments:
|
Indication |
|
|
Distribution Channel |
|
The 5-HT3 receptor antagonists market is segmented on the basis of region into five North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa region. The market in the Asia Pacific industry is likely to dominate majority revenue share by 2037, owing to increased healthcare expenditure and the expanding cancer patient pool in the region. Moreover, in 2021, the market in the North American region is evaluated to occupy the largest share in terms of revenue due to the ongoing technological advancement in the region and the presence of leading healthcare companies. Furthermore, rising cases of surgeries and the high prevalence of chronic diseases such as cardiovascular diseases in the region are estimated to boost the regional 5-HT3 receptor antagonists market growth. According to the data provided by Centres for Disease Control and Prevention (CDC) statistics, around 655,000 Americans die from heart diseases every year, that is, one in every four deaths is caused by CVDs.
April 2021: Pfizer Inc. announced the acquisition of Amplyx Pharmaceuticals, Inc., previously a private company dedicated to developing therapies for debilitating and life-threatening diseases that affect people with compromised immune systems.
January 2021: Eli Lilly and Company announced the acquisition of Prevail Therapeutics, a biotechnology company for about USD 1.04 billion.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?