The global Anti-Tumor Drugs Market is expected to surpass USD 110 billion by 2022, growing at a CAGR greater than 6% over the forecast period. The market growth may be attributed to increasing demand and continuous development in the field of medicine. However, high cost and the side effects associated with these drugs may act as a challenge to the companies.
Rising incidences of different types of cancer, availability of various therapy options, upcoming patents, and developments in the field of medicine are expected to escalate the industry growth. Anti-tumor drugs market can be segmented depending upon the type of tumor, blood cancer accounting for the highest share, owing to the high cost of therapies. These medicines find applications in different healing methods namely surgical, chemotherapy, radiation, targeted and immunotherapy. Various other methods such as blood transfusion and stem cell transplant are implemented for particular types of tumor/cancer. Immunotherapy and targeted therapy techniques portray healthy potential for growth owing to lack of side effects and specialized targeted response.
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Targeted therapy though primarily a chemotherapy method may observe a significant market rise due to the R&D involved. This technique aims to cure tumors using specially engineered drugs which act only at the desired targeted regions in the body, causing little or no harm to surrounding areas.
Key players such as Roche, Novartis and Celgene dominate with close to 70% market share in the industry. Drug manufacturing companies encounter various product pipelines and aim to capitalize in different phases of the product life-cycle. Roche, a Switzerland-based drug manufacturer, enjoys the largest share owing to high success rates of its drugs, better life-cycle management and maximum extension of its inline products. The expected growth and size of the market act as influential factors for companies to opt for mergers and acquisitions, which leads them to adopt various product pipelines for further development purposes.
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