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Oncology Drugs Market is Expected to Reach $111.9 Billion, Globally, by 2020. Read more at: https://www.alliedmarketresearch.com/oncology-cancer-drugs-market<br><br>Augmentation in the prevalence and incidence rate of various cancers, growing popularity of biological and targeted modalities, along with the patent expiration of major cancer drugs are expected to drive the growth of global oncology drugs market. However, high initial capital investment in new drug development, long-term side effects associated with chemotherapy, and high cost of advanced therapies (targeted and immunotherapies) would limit the growth of the market.
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Global Oncology/Cancer DrugsMarketForecast 2013-2020 PublishedDate:24Feb 2015 No.ofpages:159
Oncology Drugs Market Scenario • Oncology Drugs Market is Expected to Reach $111.9 Billion, Globally, by 2020, registering a CAGR of 7.1% from 2014 to 2020. • Increase in adoption of combination therapies instead of traditional cytotoxic therapies is a major factor that contributes to the market growth. • The combinational therapies which include targeted therapy and immunotherapy (Biologic therapy), is expected to witness ~10% surge in its market share collectively by 2020. • Augmentation in the prevalence and incidence rate of various cancers, growing popularity of biological and targeted modalities, along with the patent expiration of major cancer drugs are expected to drive the growth of global oncology drugs market. • However, high initial capital investment in new drug development, long-term side effects associated with chemotherapy, and high cost of advanced therapies (targeted and immunotherapies) would limit the growth of the market.
Oncology Drugs Market Key Segments • Therapeutic Modalities • Chemotherapy • Targeted Therapy • Immunotherapy (Biologic Therapy) • Hormonal Therapy • Others • Cancer Types • Blood Cancer • Breast Cancer • Gastrointestinal Cancer • Prostate Cancer • Respiratory/Lung Cancer • Skin Cancer • Other Cancers
Oncology Drugs Market is further bifurcated based on • The global oncology drugs market is experiencing a shift in therapeutic modalities i.e. from traditional cytotoxic agents to newly develop targeted and immunotherapeutic modalities. • Tumor cell specificity, an attribute of aforementioned modality, has reduced drug remission rates and has rendered an enhanced rate of survival in cancer patients thus, complementing the market growth. • chemotherapeutic modalities would continue to be the leading therapeutic modality segment owing to its higher adoption rate and economic pricing. • Going forward, the demand for the chemotherapy modality might confront a negative influence due to marginal efficacy and chronic side effects such as anemia. • Amongst these different cancer types, blood cancer was the largest revenue generating segment in 2015. The growth of blood cancer segment is majorly due to the high cost of the drugs used to treat blood cancer.
Oncology Drugs Market Drivers And Restraints • Drivers • Rising incidence and prevalence of various cancer types • Growing importance of biological and targeted drug therapies • Expiration of key patents and Biosimilars impact • Acquisitions and collaborations bolt-on strategies driving the market growth • Restraints • High cost of drug development and threat of failure • Adverse effects of anti-cancer drug therapy
Key Benefits • Immunotherapy/biological drugs segment expected to grow at a double digit CAGR during the forecast period and would grow at the fastest rate • Blood cancer is the major revenue generating segment in the global oncology drug application market however, lung cancer segment is expected to grow fastest among all • Currently, North America garners a major share in the oncology drugs market, in terms of market size • Asia Pacific oncology drug market is dominated by China and Japan, together contributing to ~60% of the regional market revenue in 2014
Oncology Drugs Market By Geography North America, Europe, Asia Pacific, LAMEA
Key Players Operating in Oncology Drugs Market Roche diagnostics Novartis AG Celgene Corporation AstraZeneca Johnson & Johnson Merck & Co. Eli Lilly & Co. Amgen Inc. Pfizer GlaxoSmithKline
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