The global oncology drugs market is estimated to witness a CAGR of 7.0% during the forecast period 2018–2024. The market is analyzed based on three segments: therapeutic modality, applications, and regions.
Key Players: Hoffmann-La Roche Ltd., Bristol–Myers Squibb, Novartis AG, Johnson & Johnson, Pfizer, Inc., Celgene Corporation, AstraZeneca PLC, GlaxoSmithKline plc, Eli Lilly and Company, Amgen Inc., Merck & Co., AbbVie, Inc., Sanofi, and other predominate & niche players. and others
The oncology drugs market, by applications, is segmented into breast cancer, blood cancer, prostate cancer, gastrointestinal cancer, lung cancer, and others. The incidence of cancer is one of the leading causes of death globally due to unhealthy food habits, changing lifestyle, and increasing consumption of tobacco-related products. According to the estimation of the National Cancer Institute, in the US, around 1.6 million new cases of cancer were diagnosed and 595,690 people died due to cancer in 2016. Nearly 60% of new cancer cases are from Africa, Asia, Central and South American countries and almost 70% of cancer deaths are from these regions. The Indian Council for Medical Research estimated around 1.4 million new cancer cases in 2016, which is expected to rise to 1.7 million cases by 2020.
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Increased prevalence of cancer, unhealthy lifestyle, and increasing geriatric population are the primary factors driving the market growth. However, the high cost of the drug & development process and side effects of the drug are the factors hampering the market growth. The development of pipeline oncology products and expiry of key patents are providing an opportunity for the manufacturers of cancer drugs.
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is set to be the leading region for the oncology drugs market growth followed by Europe, Asia Pacific, and Rest of the World.
Therapeutic Modality Analysis: The global oncology drugs market by therapeutic modality is segmented into chemotherapy, immunotherapy, targeted therapy, and others. Chemotherapy occupied the largest share in 2017, and immunotherapy is expected to grow at a high CAGR in the coming years due to high efficiency, increased preference of targeted immunotherapy from chemotherapy, and fewer side effects.
Applications Analysis: The global oncology drugs market by applications is segmented into breast cancer, blood cancer, prostate cancer, gastrointestinal cancer, lung cancer, and others. Blood cancer occupied the largest share in 2017, and lung cancer application is expected to be the fastest growing segment during the forecast period due to the high incidence of lung cancer and promising pipeline for NSCLC drugs.
The study presents reliable qualitative and quantitative insights into:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand chain of the market
- Market valuation (revenue and/or volume)
- Key trends/opportunities/challenges
- Forces defining present and estimated future state of the competitive landscape
- Technological developments
- Value chain and stakeholder analysis
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The high adoption of personalized medicine and immuno-oncology have fueled a shift in cancer treatment from chemotherapy in the past decade. During 2011–2017, around 84 new drugs have been approved across 22 indications globally, of which immuno-oncology PD-1 and PD-L1 inhibitors have seen a speedy uptake based on their notable clinical profile and approval for various cancers. Additionally, there is a robust late-stage oncology pipeline with around 630 unique molecules in the development, i.e., more than 7% when compared to the previous year, including 278 biological therapies and 82 vaccines. The market is dominated by key vendors such as F. Hoffmann-La Roche Ltd., Bristol–Myers Squibb, Novartis AG, Celgene Corporation, Pfizer Inc., and Johnson & Johnson; and products of these firms are available globally through their distributors and subsidiaries.
The report provides complete details about the usage and adoption of oncology drugs in various applications and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the product adoption in the upcoming years along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in specific verticals to analyze before investing or expanding the business in this market.
Highlights of the report:
- A detailed analysis of key segments of the market
- Recent developments in the market’s competitive landscape
- Detailed analysis of market segments up to second or third level of segmentation
- Historical, current, and projected future valuation of the market in terms of revenue and/or volume
- Key business strategies adopted by influential market vendors
- Outline of the regulatory framework surrounding and governing numerous aspects of the market
- Growth opportunities in emerging and established markets
- Recommendations to market players to stay ahead of the competition
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