Global Anti-cancer Drugs Market: Key Trends and Opportunities
The rising global incidence of various cancers, including cancer of the breast, prostate, skin, blood, gastrointestinal tract, and lungs, is the primary factor boosting the demand for anti-cancer drugs. In addition to this, the development of advanced therapeutic modalities, such as targeted therapies, chemotherapy, immunotherapy, and hormonal therapies has significantly benefited the anti-cancer drugs market in recent years.
This market is predicted to benefit from the commercialization of follow-on-biologics and patent expiration of several blockbuster drugs. The threat of failure of the drugs, the high cost involved in the development of anti-cancer drugs, and the possible side effects of these drugs are expected to challenge the expansion of the global market in the coming years. However, rising government funds are likely to reduce the negative impact of these obstacles and continue propelling the anti-cancer drugs market.
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Global Anti-cancer Drugs Market: Overview
The World Cancer Research Fund states that in 2012, there were around 14 million new cases of cancer around the world; of these, women accounted for 6.7 million cases and men accounted for 7.4 million cases. This figure is likely to increase to 24 million by 2035. Similarly, according to the World Health Organization, an estimated 8.2 million deaths in 2012 were directly related to cancer and the number of new cancer cases is anticipated to increase by an estimated 70% over the next two decades. Accounting for 13% of the total number of new cases diagnosed in 2012, lung cancer was the most common cancer across the globe, followed by breast cancer (1.7 million new cases), and colorectal cancer (1.4 million new cases).
Cancer mortality can be reduced if the disease is detected and treated early. Timely and correct diagnosis is key to effective and adequate treatment. Today, the global anti-cancer drugs market can be rightly characterized by the enormous amount of innovation that hopes to transform the landscape for patients, providers, and companies alike. SEER (Surveillance, Epidemiology, and End Results) survival statistics reveal that in 1990, only half of all cancer patients lived for five years after diagnosis. This has now increased to two-thirds, a result of gradual but consistent innovation in the anti-cancer drugs market.
This research report serves as a blueprint for all stakeholders in the anti-cancer drugs market as it not only gives them a fresh, objective, and accurate perspective of the global industry but also examines the key factors governing its growth from 2016 to 2024, the report’s forecast period. Leading trends, forces driving the growth, and challenges that lie ahead have been discussed at length, supported by appropriate statistics and inputs from industry experts.
Global Anti-cancer Drugs Market: Competitive Landscape and Region-wise Outlook
Some of the most prominent players in the global anti-cancer drugs market are Celgene Corporation, Eli Lilly and Company, Roche Diagnostics, Novartis AG, Pfizer, Sanofi, Amgen Inc., GlaxoSmithKline PLC, Merck & Company, and Johnson and Johnson.
Geographically, the international market for anti-cancer drugs is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America presently surpasses all of the aforementioned regional markets and is likely to retain its leading position throughout the duration of the forecast period. Favorable reimbursement policies, the surge in investments by prominent multinational companies in the research as well as development of anti-cancer drugs, and the high adoption rate of immunotherapies are some of the major factors responsible for the growth of the North America anti-cancer drugs market.
Asia Pacific has been identified as a rather lucrative region for the anti-cancer drugs market owing to the rising awareness regarding the availability of advanced therapies. The increase in healthcare expenditure and per capita disposable income is also likely to contribute toward the future expansion of the Asia Pacific anti-cancer drugs market.
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Last updated on: 15/09/2016
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