Fact.MR, Rockville MD: An ongoing study on the oral chemotherapy market by consulting firm Fact.MR anticipates a healthy growth outlook for FY 2021-22 and beyond, as global incidence of cancers across key regions increase at an alarming pace.
Higher inclination towards minimally invasive therapeutic alternatives spurring oral drug discovery
Fact.MR, Rockville MD: An ongoing study on the oral chemotherapy market by consulting firm Fact.MR anticipates a healthy growth outlook for FY 2021-22 and beyond, as global incidence of cancers across key regions increase at an alarming pace. Prospects during 2020 were especially high, with the COVID-19 pandemic compelling clinicians to prioritize cancer treatment to avoid complications.
According to the study, growth across the current financial year is expected to be underpinned by a slew of new drug approvals by regulatory authorities, including the US Food & Drug Administration. Recently, in March 2021, AVEO Oncology, a prominent cancer drugs specialist, announced the approval of its Fotvida (tivozanib) tyrosine kinase inhibitor for treating advanced renal cell carcinoma.
Likewise, in February 2021, TG Therapeutics Inc., announced the approval of its Ukoniq (umbralisib) tablets, consisting of a dual inhibitor of phosphoinositide 3 kinase (PI3K) delta for treating marginal zone lymphoma (MZL) and follicular lymphoma (FL).
“Growing inclination towards non-invasive treatment procedures to reduce body trauma is widening the scope for orally administrable chemotherapy drugs, in addition to their cost effectiveness,” says the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Oral Chemotherapy Study
- By form, capsules are expected to generate the maximum revenue share through 2021 and beyond
- Hospital pharmacies to be the primary oral chemotherapy drug distribution channels, attributed to prescription based administration
- By drug class, non-steroidal aromatase inhibitors to remain dominant, owing to increased prevalence of breast cancer
- A slew of fast track FDA approvals have heightened oral chemotherapy drugs sales across the US
- UK to benefit immensely from the discovery of new generation drugs such as Larotrectinib (Vitrakvi), unveiled in 2020
- High prevalence rates of prostate and breast cancers to accelerate R&D efforts to develop potential candidates across Germany & France
- India to emerge as a major oral chemotherapy drugs manufacturer, especially in the generic drugs segment
- Incorporation of herbal medicine into mainstream drug development to elevate growth prospects across China
Oral Chemotherapy Market- Prominent Drivers
- Rising hospitalization costs are prompting cancer patients to opt for home based oral chemotherapy, elevating growth prospects
- Key manufacturers are showing greater inclination towards developing, procuring and distributing generic formulations, owing to reduced costs
- Implementation of National Cancer Control Programs at country wide levels to provide massive impetus to market growth
Oral Chemotherapy Market- Key Restraints
- Documented instances of damage to the bone marrow, hair follicles and the alimentary canal to deter oral chemotherapy drugs consumption
- Restricted access to effective cancer treatment in developing and underdeveloped countries to hinder future growth prospects
Discover more about the oral chemotherapy market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/3975/oral-chemotherapy-market
Competitive Landscape
Key players in the oral chemotherapy market as profiled by Fact.MR include Pfizer, Inc., Amgen Inc., Sanofi S.A., Novartis AG, Johnson and Johnson, Merck and CO. F. Hoffman-La Roche AG, Bristol-Myers Squibb and Eli Lily & Co among others. Key expansion strategies include development of new drug candidates. Moreover, they also rely on capacity expansion measures such as acquisitions, mergers and collaborations.
In March 2021, Pfizer Inc. announced that the US Food & Drug Administration has approved its supplemental New Drug Application (sNDA) for LORBENA® (Lorlatinab), expanding the indication to include first-line treatment of people with anaplastic lymphoma kinase (ALK)-positive non-small cell lung cancer (NSCLC). This marks the transition to full approval from accelerated approval designated in 2018.
With respect to acquisitions, Amgen Inc. announced its decision to acquire Five Prime Therapeutics, a clinical stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies. This acquisition adds Five Prime’s innovative pipeline to Amgen’s leading oncology portfolio. This move majorly concerns Five Prime’s lead asset, bemaritzumab, a drug candidate suitable for treating advanced gastric or gastroesophageal junction cancer.
More Insights on the Oral Chemotherapy Market
In its latest report, Fact.MR offers unbiased analysis of the global oral chemotherapy market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of drug class (non-steroidal aromatase inhibitor, protein kinase inhibitors, anti-androgens, antineoplastic agents and alkylating agents), form (tablets, capsules and liquids) and distribution channel (hospital pharmacies, retail pharmacies and drug stores) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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