Global anticancer drugs market to record 6.7% CAGR through 2027
Global Anticancer Drugs Market - Overview
The research analysis on ‘global anticancer drugs market’ offers a comprehensive assessment of this business vertical by highlighting the major growth stimulants, challenges & restraints and other future trends over the period of 2020-2027. It also comprises of a comparative analysis of the past records and the current market trends to derive the expansion rate as well as the remuneration scale of this industry landscape during the study period.
As cited by credible estimates, global anticancer drugs market had reached USD 105.4 billion mark in the year 2019 and is predicted to expand with a CAGR of 6.7% between 2020 and 2027. This rapid expansion can be credited to favorable government initiatives and rising R&D investments.
Apart from this, the document scrutinizes and provides critical information concerning the different market segmentations and their relative impact on the overall industry growth. It also provides crucial insights pertaining to the geographical landscape as well as the numerous companies operating in this business vertical, further ensuring state-of-the-art decision making during investment analysis.
For those unfamiliar, anti-cancer drugs are gaining quite the recognition owing to the introduction of various cancer management programs by government and central authorities. Such programs have resulted in high number of diagnostics, thereby fueling the demand for anti-cancer drugs.
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Mounting investments towards research & development activities have resulted in development of advanced routes of administration and treatments. Thus, advent of therapies with better patient outcomes and minimal side-effects as compared to traditional drugs is stimulating global anticancer drugs industry outlook.
It is also worth mentioning that the U.S. FDA (The Food and Drug Administration) grants orphan drugs status to therapies which offer a promising potential for rare disease treatments. The FDA also offers benefits including tax credits and market exclusivity for clinical trials. These supportive regulations have impelled the demand and availability of cancer management therapies, thereby fueling global anticancer drugs market size.
Increased pervasiveness of cancer has also fostered the demand for anticancer therapies across the globe, thereby favoring the market outlook. However, lack of awareness and rising concerns regarding the side-effects of anticancer treatment such as bruising, bleeding, neutropenia, infection, constipation, anemia, and hair loss could act as a bottleneck to the expansion of global anticancer drugs market. Availability of alterative therapeutic drugs, particularly in developing economies, could also potentially hamper the product demand in the ensuing years.
To access a sample pages of this report titled “Global Anticancer Drugs Market Size study, By Drug Type - Cytotoxic Drugs (Alkylating Agents, and Antimetabolites), Targeted Drugs (Monoclonal Antibodies and Tyrosine Kinase Inhibitors), and Hormonal Drugs), By Therapy Type (Chemotherapy, Targeted Therapy, and Immunotherapy), By Cancer Type (Lung Cancer, Breast Cancer, Leukemia, and Colorectal Cancer), and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below:
Elaborating on the geographical reach
The regional analysis of global anticancer drugs market covers Latin America, North America, Asia-Pacific, Europe, and rest of the world. According to reliable predictions, North America currently accounts for a significant market share and is likely to display similar growth trends in the forthcoming years.
Improved cognizance regarding benefits of early detection of cancer, rising per capita income, and high occurrence of cancer are favoring the regional market outlook. Escalating healthcare expenditure and easy availability of anticancer drugs is also facilitating the business scenario in North America.
Global Anticancer Drugs Market by Drug Type (Revenue, USD Billion, 2017-2027)
- Hormonal Drugs
- Targeted Drugs
- Cytotoxic Drugs
Global Anticancer Drugs Market by Therapy Type (Revenue, USD Billion, 2017-2027)
- Targeted Therapy
Global Anticancer Drugs Market by Cancer Type (Revenue, USD Billion, 2017-2027)
- Colorectal Cancer
- Breast Cancer
- Lung Cancer
Global Anticancer Drugs Market Regional Analysis (Revenue, USD Billion, 2017-2027)
- United States
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
Rest of the World
Global Anticancer Drugs Market Competitive Landscape (Revenue, USD Billion, 2017-2027)
- Amgen Inc.
- Celgene Corporation
- Merck & Co. Inc.
- Takeda Pharmaceutical Company Limited
- AstraZeneca plc
- Bayer AG
- Pfizer Inc
- Novartis AG
- Eli Lilly and Company
- F. Hoffmann-La Roche AG
Global Cancer Vaccines Market Size and Regional Forecasts 2020-2027
Global Cancer Vaccines Market is valued at approximately USD 4.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.6% over the forecast period 2020-2027. Cancer vaccines are a form of immunotherapy which is considered as a biological response modifier. Usually, cancer treatment vaccines are distinct from the vaccines that work against bacteria and viruses. Cancer vaccines can stimulate the immune system of the patient’s body to fight against cancer cells. Rather than preventing disease, these vaccines are primarily focused to boost the immune systems to medicate a disease that already occurred in the patient’s body.
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