Rise in prevalence of cancer, surge in cancer research, and increase in strategic acquisitions & collaborations are the major factors propelling the growth of the global cancer therapeutics market.
As per the report issued by Allied Market Research, the global cancer therapeutics market was pegged at $98.90 billion in 2018 and is expected to hit $180.19 billion by 2026, growing at a CAGR of 7.7% from 2019 to 2026. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in incidence of cancer, rise in cancer research, and surge in strategic acquisitions & collaborations fuel the growth of the global cancer therapeutics market. On the other hand, high cost of drug development, threat of failure and adverse effects associated with cancer drug therapy restrain the growth to certain extent. Nevertheless, high potential associated with personalized medicines and rise in purchasing power of the individuals in emerging economies have paved the way for lucrative opportunities in the near future.
The lung cancer segment to retain its dominance by 2026-
Based on application, the lung cancer segment contributed to nearly one-fifth of the total market revenue in 2018 and is expected to dominate throughout the study period. The prostate cancer segment, on the other hand, would cite the fastest CAGR of 15.2% by 2026.
The revlimid segment to rule the roost-
Based on top selling drugs, the revlimid segment garnered the major share in 2018, holding 9% of the total market and is anticipated to maintain its top status during the forecast period. Simultaneously, the opdivo segment would showcase the fastest CAGR of 13.3% throughout 2019–2026.
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North America to lead the trail in terms of revenue-
Based on geography, North America accounted for more than half of the total market share in 2018 and is projected to maintain the lion’s share till 2026. At the same time, the region across Asia-Pacific is anticipated to garner the fastest CAGR of 10.4% during the estimated period.
Frontrunners in the industry-
Key market players analyzed in the report include Bristol-Myers Squibb Company, Eli Lilly and Company Astellas Pharma, Inc., F. Hoffmann-La Roche AG, F. Hoffmann-La Roche AG, Johnson & Johnson, Merck KGaA, Celgene Corporation, AbbVie, Inc., Pfizer, Inc., and Novartis AG. These players have taken recourse to high-end market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to heighten their stand in the industry.
Scope Of The Report
|Market size available for years||2018–2026|
|Base year considered||2019|
|Forecast units||Value (USD)|
|Segments covered||By Application, By Top Selling Drugs, By Region|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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