The Global Oncology Drugs Market, by Drug Type (Targeted Drugs (Tyrosine Kinase Inhibitors and Monoclonal Antibodies), Cytotoxic Drugs (Antimetabolites and Alkylating Agents), and Hormonal Drugs (Estrogen Production Blockers, Ovarian Function Blockers, and Estrogen’s Effect Blockers (SERMs (Selective Estrogen Receptor Modulators))), by Cancer Type (Bladder Cancer, Lung Cancer, Blood Cancer, Prostate Cancer, Colorectal Cancer, and Breast Cancer), by Distribution Channel (Online Pharmacies, Hospitals Pharmacies, and Retail Pharmacies), and by Region (North America, Asia Pacific, Latin America, Europe, Middle East, and Africa) had a market valuation of around US$ 77.3 billion in 2018 and is anticipated to grow at a CAGR of 12.3 percent during the forecast period (2018 – 2026).
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Drivers
In the entire pharmaceutical and biotech business, the global oncology drugs market is one of the fastest-growing. The following are some of the major factors driving this market’s expansion:
- Globally, the prevalence of many forms of cancer is increasing.
Increasing the rate of cancer detection at an early stage.
- Pharmaceutical firms are increasing their investment in anticancer treatment research and development.
- A growing number of popular pharmaceuticals are losing their patent protection, allowing new generics and biosimilars to enter the market.
- Increasing business ties between important stakeholders for medication research, marketing, and distribution of the product.
- Increased number of anticancer medications gaining regulatory authorization and a robust pipeline of medicines and biologics-based goods.
Cancer is one of the most lethal diseases, with a decreasing probability of survival as the disease advances. The GLOBOCAN 2018 study, released by the International Agency for Research on Cancer, predicts cancer incidence and death rates. This paper examines the regional variation in cancer incidence and death rates in 20 different global regions. According to the estimate, there would be 18.1 million new cancer cases in 2018 and 9.6 million cancer deaths. As a result, the increasing proportion of cancer patients is projected to be a key driver in the global oncology drugs market’s growth.
As per a 2015 study by the Pharmaceutical Research and Manufacturers Association, approximately 800 medications targeting various forms of cancer are in the development stage. Furthermore, according to the same source, roughly 73 percent of tailored medication in development is aimed at cancer. The most commonly targeted cancers for therapeutic development include prostate cancer, breast cancer, melanoma, lung cancer, blood cancer, and colorectal cancer. As per a research issued in 2017 by the International Federation of the Pharmaceutical Manufacturers Association, there were 1,919 cancer medicines in development in 2014.
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A growing number of medications are being licensed for the treatment of different cancers. As per the United States Food and Drug Administration, roughly 16 new cancer medicines were authorized in 2017. Furthermore, by the middle of November 2018, eight additional cancer treatments had been authorized. Among the notable medication approvals in 2017,
Yescarta, a Kite Pharmaceuticals drug containing the axicabtagene ciloleucel, was authorized in October 2017 for the treatment of relapsed or refractory large B-cell lymphomas.
Novartis’ Kymriah was authorized in August 2017 for the treatment of refractory B-cell precursor acute lymphoblastic leukemia.
AstraZeneca’s Imfinzi was authorized in May 2017 for the treatment of advanced or metastatic urothelial carcinoma and stage III non-small cell lung cancer.
Lorbrena was authorized by Pfizer in November 2018 for the therapy of ALK-positive advanced non-small cell lung cancer.
Biosimilars and generic versions of anticancer medications are likely to gain traction as more blockbuster medications come off patent. Roche’s Avastin, a Humanized Monoclonal Antibody medication for colorectal, lung, breast, glioma, kidney, and ovarian cancer, will lose its patent protection in the U.S. by July 2019.
Several biosimilars and generic medications have been introduced to the market, including:
In March 2018, Mylan N.V. released Mitomycin for Injection USP, a generic version of Bristol Myers Squibb’s mutamycin, which is used to treat gastric and pancreatic cancer.
In September 2017, Samsung Bioepis introduced Ontruzant (SB3), a biosimilar of trastuzumab recommended for breast cancer.
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Key takeaways
Due to growing clearances for immunotherapy-based treatments, the global oncology drugs market is predicted to grow at a CAGR of 12.5 percent from 2018 to 2026.
During the forecast period, the targeted pharmaceuticals category is projected to maintain its market share. This is due to a rise in the use of targeted treatment, which has fewer adverse effects than chemotherapy medications.
During the forecast period, the lung cancer sector is projected to have a dominating position in the global oncology drugs market. This is due to the high number of authorized lung cancer treatments and the rising prevalence of the illness.
Hospital pharmacies are inclined to maintain a prominent position among distribution channels during the forecast period since funding and the price of medications are more advantageous in hospital pharmacy due to the 340B pricing scheme.
Competitive Landscape
Major companies contributing in the global oncology drugs market are Bristol-Myers Squibb, Johnson & Johnson, Celgene Corporation, AbbVie, Inc., Novartis International AG, Hoffmann-La Roche AG, Amgen Inc., Bayer AG, AstraZeneca plc., Eli Lilly and Company, Merck & Co., and Pfizer Inc.
Reasons to Purchase this Report
• To gain an in-depth understanding of Oncology Drugs market globally
• To identify the on-going trends and anticipated growth in the next nine years
• To help industry consultants, Oncology Drugs market other stakeholders align their market-centric strategies
• To obtain research-based business decisions and add weight to presentations and marketing strategies
• To gain competitive knowledge of leading market players
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Table of Content
Global Oncology Drugs Market Research Report
Section 1: Global Oncology Drugs Industry Overview
Section 2: Global Economic Impact on Oncology Drugs Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Oncology Drugs Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Oncology Drugs Market Forecast
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