Anti-cancer Drug Market Size Worth USD 256.66 Billion by 2029
Market definition covered in the large-scale Global Anti-cancer Drug Market report explores the market drivers which indicate the factors causing rise in the market growth and market restraints which indicate the factors causing fall in the market growth. This report also studies consumption of market, key players involved, sales, price, revenue and market share with volume and value for each region. The business report helps customers or other market participants to be aware of the problems they may face while operating in this market over a longer period of time. The excellence and transparency continued in the Global Anti-cancer Drug Market report makes gain the trust and reliance of member companies and customers.
The increasing prevalence rate of different types of cancer, such as liver, breast, skin, and much more, directly enhances the demand for effective medical treatment. According to the American Cancer Society, the number of deaths globally in 2012 was 8.2 billion, which is anticipated to increase during the forecast period. Furthermore, pharmaceutical organizations focus on manufacturing new medicines to meet consumer needs.
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Cancer is a threatening ailment wherein cancer cells multiply to develop a tumor in thepatient’s body in a particular organ. These cancerous cells damage the functioning of that particular organ leaving the body vulnerable and weak. Therefore, anti-cancer drugs are the medications that are given to the cancer patients to battle cancerous cells.
The anti-cancer drug treatment is supportive and aims to reduce the severity of the symptoms. Data Bridge Market Research analyses that the anti-cancer drug market will grow at a CAGR of 7.40% during the forecast period of 2022 to 2029. This indicates that the market value was valued at 144.99 billion in 2021 and would stand tall by USD 256.66 billion by 2029.
Drivers
- Cancer prevalance
Surging incidence rate of different types of cancer such as beast cancer, liver cancer, skin cancer and much more is directly propelling the demand for effective medical treatment. Lung cancer has the highest incidence rate of all which indicates that increase in prevalence rate would directly affect the demand for anti-cancer drugs.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the market’s growth rate is the rising healthcare expenditure, which helps in improving its infrastructure. Growth and expansion of healthcare industry especially in the developing economies would invite the use and application of new and advanced medial technologies, equipment and drugs. This will directly increase the demand for anti-cancer drugs.
- Research and development activities
Growing number of strategic collaboration between public and private market players is inducing growth in the number of research and development activities on daily basis. These research and development proficiencies are being conducted in novel drugs and medical technologies that will propel the demand for anti-cancer drugs.
Furthermore, emergence of novel treatment and awareness about cancer, rising initiatives by public and private organizations to spread awareness and increase in popularity of advance therapies are the factors that will expand the market growth rate. Other factors such as increase in the demand for effective therapies, availability of cost effective drugs and rising adoption rate for early diagnostic procedures will positively impact the market’s growth rate.
Recent Development
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- Merck Co. & Inc. received the United States Food & Drug Administration approval in November 2020, for Keytruda in combination with chemotherapy in the treatment of triple-negative breast cancer.
Key Players:
Some of the major players operating in the proctitis market are Pfizer Inc, AstraZeneca, ANI Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Hikma Pharmaceuticals PLC, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Cipla Inc., Amneal Pharmaceuticals LLC, Glenmark Pharmaceuticals Limited, Fresenius Kabi AG, Mayne Pharma Group Limited, Mylan N.V., Novartis AG., Vintage Labs, Dr. Reddy’s Laboratories Ltd, Jiangsu Hengrui Medicine Co., Ltd, Novo Nordisk A/S, Otsuka America Pharmaceutical, Inc., and WOCKHARDT others.
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Anti-cancer Drug Market Scope
Indication
- Breast Cancer
- Blood Cancer
- Prostate Cancer
- Gastrointestinal Cancer
- Gynecologic Cancer
- Lung Cancer
- Others
On the basis of indication, the global anti-cancer drug market is segmented into breast cancer, blood cancer, prostate cancer, gastrointestinal cancer, gynecologic cancer, lung cancer and others.
Drug
- Cytotoxics
- Hormonal Therapy
- Targeted Therapy
- Others
Based on drug, the global anti-cancer drug market is segmented into cytotoxics, hormonal therapy, targeted therapy and others.
Route of administration
- Oral
- Parenteral
- Others
Route of administration segment of global anti-cancer drug market is segmented into oral, parenteral and others.
End Users
- Hospitals
- Homecare
- Specialty Clinics
- Others
On the basis of end-users, the global anti-cancer drug market is segmented into hospitals, homecare, specialty clinics and others.
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
On the basis of distribution channel, the global anti-cancer drug market has been bifurcated into hospital pharmacy, online pharmacy and retail pharmacy.
Pipeline Analysis
The University of Sussex identified the role of lemur tyrosine kinase 3 (LMTK3) in the cell proliferation in breast cancer in November 2020 and since then are planning to advance the research toward developing LMTK3 specific drugs. Novartis AG, Pfizer Inc., F. Hoffmann-La Roche, Eisai Co. Ltd, and Merck & Co. Inc. and others are the involved in the development of potential drugs for the improvement of treatment of breast cancer.
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Regional Insights: North America is expected to dominate the Global Anti-Cancer Drug Market
North America dominates the market due to the developed healthcare industry, several government initiatives to raise consumer awareness, and several advancements in new medicine development. The increase in favorable reimbursement policies is further boosting the market growth.
Asia-Pacific is expected to grow in 2023-2030 due to the rising awareness in developing countries and increasing government support. Developing economies in Asia mostly China, India, Japan, and South Korea, are anticipated to show a steady growth rate in anti-cancer drugs due to increased cancer prevalence, tobacco consumption, and a growing population.
Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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