Cancer Drugs Market Predicted to Grow at 7.5% CAGR by 2030 | Claims AMR

The field of oncology has witnessed remarkable advancements in recent years, transforming the landscape of cancer treatment. The emergence of precision medicine and targeted therapies has revolutionized the way we approach cancer, offering hope and improved outcomes for patients. In this article, we will explore the latest developments in oncology/cancer drugs, highlighting their potential to unleash the power of precision medicine in the fight against cancer. As per the report published by Allied Market Research, the global Oncology/Cancer Drugs Market was accounted for $135.49 billion in 2020, and is estimated to garner $274.40 billion by 2030, growing at a CAGR of 7.5% from 2021 to 2030.

What are the market values / growth % of emerging countries?

North America has the highest growth rate of 6.8% in the market which is growing due to presence of large patient population, strong presence of key players, ease of drug availability, well developed healthcare infrastructure, favourable reimbursement policies in healthcare system, higher number of research, development, & innovation activities and higher adoption of advanced therapeutics.

What are the key trends in the Oncology/Cancer Drugs market report?

New product launch, agreement, collaboration, acquisition, partnership and product approval are the key trends in the Oncology/Cancer Drugs market report.

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• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

Covid-19 Situation –

• The Covid-19 pandemic directly affected the supply of oncology drugs to cancer patients. Moreover, it became difficult to administer chemotherapy outside clinics.
• However, as the number of vaccination drives has increased, the market is expected to get back on track.

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The landscape of oncology/cancer drugs is rapidly evolving, driven by advancements in precision medicine, targeted therapies, immunotherapy, genetic testing, combination therapies, and novel drug delivery systems. These breakthroughs have transformed the way we approach cancer treatment, offering hope and improved outcomes for patients.

As research and technology continue to advance, the potential for personalized and effective cancer treatments continues to expand. With precision medicine at the forefront, we are unleashing the power to fight cancer with unprecedented precision and effectiveness.

Major Key Market Players in the Industry –

• Abbvie Inc.,
• Amgen, Inc.,
• Astellas Pharma Inc.,
• Astrazeneca Plc,
• Bristol-Myers Squibb Company,
• Hoffmann-La Roche Ag,
• Johnson & Johnson,
• Merck & Co., Inc.,
• Novartis International Ag,
• Pfizer, Inc.

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Market: By Region Outlook

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)

Important Questions Being Answered by This Market Report Are –

Q1. What is the total market value of Oncology/Cancer Drugs market report?

Q2. Which are the top companies hold the market share in Oncology/Cancer Drugs market?

Q3. Which is the most influencing segment growing in the Oncology/Cancer Drugs market report?

Q4. What would be forecast period in the market report?

Key findings of the study –

• On the basis of drug class type, the targeted therapy segment held largest oncology drugs market share in 2020, and is expected to remain dominant throughout the forecast period.
• On the basis of indication, the breast cancer segment held largest market share in 2020 and is expected to remain dominant throughout the forecast period.
• Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.

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