Oncology Drugs Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4450
Oncology Drugs Market size is expected to grow significantly from 2019 to 2025.
Oncology is a branch of medication that specifically deals with the treatment, diagnosis and prevention of cancer. Cancer is a type of disease involving abnormal growth of cells with the ability to spread across the other parts of body. Several different cancer such as colon, skin, leukemia, lymphoma and basal cell cancer among others affects the whole-body functioning that may cause severe health problems.
Global Oncology Drugs Market, By Cancer Type, 2018 (USD Million)
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Favorable reimbursement schemes in developed countries will drive the oncology drugs market growth. Under the (PPACA) Patient Protection and Affordable Care Act various insurance companies and manufacturers are offering a range of breast pumps for the ease of women’s convenience. Presence of insurance covered pumps offered by several other companies is estimated to fuel the demand for breast pumps. In addition, various manufacturers deliver secured health plans and customer service for effective mother and child health management thereby augments the business progress.
Surging demand for personalized cancer medication will propel the oncology drugs industry growth. Personalized medication identifies the patient’s genetic makeup along with tumor growth and helps physician to effectively screen and treat the tumor. This medication targets cancer specific proteins and genes to efficiently manage patient’s overall health conditions. Moreover, different cancers are targeted with personalized medicines such as gastrointestinal stromal tumor, colorectal, kidney, lung and breast cancer among others that further treats patients health condition. However, adverse side effects associated with the use of drugs should hamper the oncology drugs market progress.
Oncology drugs market is segmented based on drug type, cancer type and distribution channel. The drug type segment is bifurcated into cytotoxic drugs, targeted drugs, hormonal drugs. The targeted drugs segment is estimated to witness lucrative growth trend during the analysis period. Targeted therapies target the cancer’s tissue environment, proteins and specific genes that contributes to cancer survival and growth. Moreover, the U.S. FDA has approved numerous targeted therapies and drugs for several other types of cancer. Thus, above mentioned factors thereby fosters the overall segmental growth.
Cancer type segment covers breast, colorectal, lung, prostate, blood cancer and others. Lung cancer segment will considerably grow during the forecast timeline. According to the data published on CDC, 218,229 American patients were suffering from bronchus and lung cancer in 2016. Thus, selection of accurate treatment at early stages plays a crucial role in the treatment of cancer. Therefore, availability of different drugs used for the treatment of lung cancer should accelerate the segmental progress.
Distribution channel segment is divided into retail pharmacies, hospital pharmacies, online pharmacies. The hospital pharmacies segment should witness significant growth over the analysis timeframe. These pharmacies are usually found within the premises of hospitals to accurately and immediately treat patients. These pharmacies stock large range of medicines including investigational and specialized medications; thus, it helps in the immediate treatment of patients. Hence, several such mentioned aspects thereby boosts the segmental demand.
Europe oncology drugs market will account for substantial revenue share by 2025 owing to increasing government support. Different factors such as developed healthcare infrastructure, new drug development coupled with government initiatives should foster the overall regional growth. Furthermore, strong foothold of prominent industry players focusing on developing innovative drugs thus accelerates regional growth.
Eminent industry players functioning in oncology drugs market include AbbVie, AstraZeneca, Bayer, Bristol-Myers Squibb, Celgene, Eli Lilly, Hoffmann-La Roche, Merck, Novartis and Pfizer. Prominent industry players adopt several organic growth strategies to sustain market competition.
Oncology Drugs Market By Drug Type, 2014-2025 (USD Million)
- Cytotoxic drugs
- Alkylating agents
- Targeted drugs
- Monoclonal antibodies
- Small-molecule drugs
- Hormonal drugs
- Ovarian function blockers
- Selective estrogen receptor modulator (SERM)
Oncology Drugs Market By Cancer Type, 2014-2025 (USD Million)
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Prostate Cancer
- Blood Cancer
Oncology Drugs Market By Distribution Channel, 2014-2025 (USD Million)
- Retail pharmacies
- Hospital pharmacies
- Online pharmacies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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