ONCOLOGY MARKET ANALYSIS
Abstract
Oncology/Cancer Drugs Market by Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, and Hormonal Therapy) and Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, and Others): Global Opportunity Analysis and Industry Forecast, 2018 – 2025. The global oncology/cancer drugs market was valued at $97,401 million in 2017, and is estimated to reach at $176,509 million by 2025, registering a CAGR of 7.6% from 2018 to 2025.Cancer is a disease, which involves the abnormal growth of cells that results in the formation of a tumor. However benign tumors are not cancers. The abnormal tumor cells have the tendency to spread to other local tissues and may also spread to different parts of body through blood and lymphatic system. Different types of cancers such as lung cancer, colorectal, breast cancer, and others are predominant among the populace. Treatment of cancer depends upon the stages of the disease progression. Chemotherapy is majorly used in the earlier stages whereas other therapy options such as targeted therapy drugs, immunological therapy drugs are used in late stage. Cancer has a widespread prevalence worldwide, which has led to rise in demand for cancer drugs. The key factors that are responsible for the growth of the oncology/cancer drugs market are surge in cancer research, rise in geriatric population worldwide, and increase in number of collaborations between pharmaceutical companies. In addition, rise in healthcare expenditure worldwide is expected to boost the market expansion. Moreover, high market growth potential in developing nations, rise in number of pipeline products, and upsurge in demand for personalized medicines are expected to create new opportunities for the market players during the forecast period. However, adverse effects associated with the use of cancer drugs and high costs related with cancer drug development are the major factors that impede the growth of the market. The global oncology/cancer drugs market is segmented based on drug class type, indication, and region. On the basis of drug class type, the market is divided into chemotherapy, targeted therapy, immunotherapy (biologic therapy), hormonal therapy, and others. By indication, it is categorized into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer, and other cancers.Region wise, it is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South ONCOLOGY MARKET ANALYSIS Mohameed Ahsraf Pakistan Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). According to drug class type, the targeted therapy segment occupied the largest oncology/cancer drugs market share in 2017. This is due to the ability of targeted therapies to kill only malignant cells, higher efficacy and higher survival rates associated with their use. The immunotherapy segment is expected to show fastest growth during the forecast period, registering a CAGR of 10.4%. This is attributed to surge in incidence of cancer worldwide and high unmet medical needs in some countries. Immunotherapy drugs are widely accepted as an ideal treatment option as these drugs are potentially harmless to the other living cells of the body which makes them less toxic as compared to other modes of cancer therapies. Moreover, continuous efforts in R&D to design and develop new immunotherapeutic for the treatment of various cancer types serves as a key factor for the growth of the oncology/ cancer drugs market.According to indication, the prostate cancer segment occupied the largest oncology/cancer drugs market share in 2017. This is due to presence of huge geriatric population. The lung cancer segment is expected to show fastest growth during the forecast period. This is due to technological developments in the field of cancer diagnostics and rise in the awareness related to the early diagnosis of cancer. Asia-Pacific oncology/cancer drugs market possesses high growth potential, owing to rise in cancer awareness across the region and increase in R&D investment. Furthermore, this region presents notable opportunities for the venture capitalists and investors, as the developed markets are comparatively saturated. Moreover, increase in disposable income; surge in research, development, & innovation activities; and rise in awareness related to different cancers are some other factors, which contribute toward the growth of the oncology/cancer drugs market in this region. In addition, widespread prevalence of certain cancers, such stomach cancer, and presence of huge geriatric population in countries such as Japan drive the market growth in this region. The global oncology/cancer drugs market was valued at $97,401 million in 2017, and is estimated to reach at $176,509 million by 2025, registering a CAGR of 7.6% from 2018 to 2025.Cancer is a disease, which involves the abnormal growth of cells that results in the formation of a tumor. However benign tumors are not cancers. The abnormal tumor cells have the tendency to spread to other local tissues and may also spread to different parts of body through blood and lymphatic system. Different types of cancers such as lung cancer, colorectal, breast cancer, and others Cancer Surg Volume 5 • Issue 3 are predominant among the populace. The report provides an extensive competitive analysis and profiles of the key market players such as 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, and Pfizer Inc.. The other players in the value chain include Sanofi, Amgen Inc. Bayer AG, and Exelixis, Inc. Key Benefits for Oncology Drugs Market: This report entails a detailed quantitative analysis along with current oncology/cancer drugs market trends of the oncology/cancer drugs market from 2017 to 2025 to identify the prevailing opportunities along with strategic assessment of the global oncology/cancer drugs market.The oncology/cancer drugs market forecast is studied from 2018 to 2025.Oncology/ cancer drugs market size and estimations are based on a comprehensive analysis of key developments in the oncology/ cancer drugs industry.A qualitative analysis based on innovative products facilitates strategic business planning.The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global oncology/ cancer drugs market.
