Report Overview

Global Oncology/Cancer Drugs Market Overview

Cancer is a chronic disease group characterized by uncontrolled harmful cell growth. The most common types of cancer are breast cancer, lung cancer, colorectal cancer, cervical cancer, and thyroid cancer. The three main types of drugs used for cancer are cytotoxic drugs, targeted drugs, and hormonal drugs, depending on their mechanism of action. Due to increased drug approvals and the advent of bio-similar drugs for cancer treatment, the Global Oncology Drug Market has seen tremendous growth in the recent past. Increasing spending on cancer treatment has also led to increased research and development efforts to develop new, highly effective, and least side-effect cancer drugs.

Global Oncology/Cancer Drugs Market Outlook and Trends

The global market for Oncology/Cancer Drugs is anticipated to expand at a 7.2% CAGR during the projection period. An increase in the incidence of cancer over the world and a significant increase in government healthcare outlay facilitate growth in the Global Market for Oncology/Cancer Drugs. An increase in the number of pipeline drugs and untapped potential combined with rising alliances among pharmaceutical companies offer lucrative opportunities to the market players in the industry, particularly in emerging countries. Besides, the rising geriatric population and cancer-causing factors, as well as the high probability of cancer cases in emerging economies, induce the demand for cancer-treating drugs. The market is expected to witness substantial growth during the projection period due to the factors mentioned above. However, adverse drug-related effects hinder the growth of the market.

Growth drivers

Rising incidence of cancer cases across the globe

The escalating cases of cancer across the globe are attributed to several factors, such as the growing ageing population, as well as the thriving prevalence of specific cancer causes linked to social and economic development. In fast-growing economies, the shift has been noticed from poverty-related cancers and infections to lifestyle-related cancers. It directly drives substantial demand for oncology drugs in the global market with significant growth.

Need for Innovative Drugs and Target Groups

Cancer research organizations are involved in the development of drugs that target cancer cells directly and help destroy them. R & D and novel drugs play a crucial role in the growth of the Global Market for Oncology/Cancer Drugs. Also, the emphasis on biological therapy has recently brought massive revenues to the global market for oncology/cancer drugs.

Restraint

Adverse effects associated with the use of cancer drugs

Despite the improved efficacy and enhanced survival offered by modern treatments, the side effects and long-term sequel of anti-cancer chemotherapy remain a significant concern for both patients and medical professionals.

Global Oncology/Cancer Drugs Market Segmentation

By Drug Class Type

Targeted therapy and Chemotherapy segments together accounted for nearly three-fourths of total market share in 2019 based on drug class type, and are expected to maintain dominance in the cancer drug industry over the forecast period. Conversely, the section of immunotherapy is predicted to be a witness of lucrative growth due to higher survival rates and use-related relief.

By Indication

Based on the indication, it is estimated that the lung cancer segment would record a significant rate of growth from 2020 to 2026 due to a considerable increase in the prevalence of cancer worldwide. On the other hand, the other segments such as Kidney, Breast, and Prostate cancer together have contributed to the largest share of total market share in 2019 and, are projected to continue to lead during the forecast period. 

Due to the high adoption rate of cancer drugs, North America was the leading contributor to the worldwide market in 2019 and is expected to maintain the same because of massive healthcare development during the projection period. However, Asia-Pacific is expected to grow at the highest rate due to rising disposable income, research, development & innovation activities, and awareness of various cancers during the forecast period from 2019 to 2026. Due to a vast population base and modern health care facilities, North America and Europe accounted for almost three-fourths of total market share in 2019 and, will register substantial growth by 2026 due to the increased awareness of advanced therapies, growth in cancer cases led by unhealthy lifestyle and easy access of premiere chemotherapy treatments.

Competitive Landscape

AbbVie Inc., Astellas Pharma, Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., Johnson & Johnson (Janssen Global Services, LLC,), Merck & Co., Inc., Novartis AG, Pfizer Inc. and Other Prominent PlayersThe major companies operating in this market are 

Scope of the Report

By Class Type

• Chemotherapy
• Targeted Therapy
• Immunotherapy (Biologic Therapy)
• Hormonal Therapy

By Indication

• Lung Cancer
• Stomach Cancer
• Colorectal Cancer
• Breast Cancer
• Prostate Cancer
• Liver Cancer
• Esophagus Cancer
• Cervical Cancer
• Kidney Cancer
• Bladder Cancer
• Other Cancers

By Region: 

• North America
• Europe
• Asia Pacific (APAC)
• Latin America
• Middle East & Africa

The objective of the Study:

• To analyze and estimate the Global Oncology/Cancer Drugs Market size, in terms of value.
• To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Global Oncology/Cancer Drugs Market into five regions, namely, North America, Europe, Asia Pacific, Rest of the World and their leading countries.
• To outline, categorize and project the Global Oncology/Cancer Drugs Market based on Class Type, Indication and Region.
• To examine competitive developments in product, therapies and indication segments as well as cancer types within the Global Oncology/Cancer Drugs Market.
• To highlight market dynamics such as drivers, restraints, opportunities, and challenges and their impact.
• To provide a detailed competitive landscape, including major players, their strategic profiles, and market shares.

Business Questions Answered by the Report:

• How will the market drivers, restraints, and opportunities affect the market dynamics?
• What will be the market size in terms of value and volume and market statistics with a detailed classification?
• Which segment dominates the market or region, and which one will be the fastest-growing, and why?
• Who are the key players in the market, and what is their share?
• What is the strategy adopted by key players, and how does it affect the existing and new players?

Customization Scope for the Client:

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:

• Additional Company Information
• Detail Analysis of five additional companies
• Additional country analysis
• Detailed segment analysis