Global Basel Cell Carcinoma Therapeutics Market 2018-2022 | Heavy Investments to Develop a Strong R&D Department Impacting the Market Growth | Technavio
The global Basel cell carcinoma therapeutics market 2018-2022 is expected to post a CAGR of more than 5% during the forecast period, according to the latest market research report by Technavio.
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Technavio predicts the global Basel cell carcinoma therapeutics market to post a CAGR of more than 5% by 2022. (Graphic: Business Wire)
A key factor driving the growth of the market is heavy investments to develop a strong R&D department. Cancer is the most common cause of death globally, and the prevalence of cancer has witnessed a significant rise in the last few years. Thus, increasing an urgent need for the treatment of these indications. The increasing number of cancer patients has resulted in a need for the companies to invest heavily in the R&D for oncology medicines. Also, pharmaceutical companies and various government organizations are investing heavily in the R&D of novel therapies. The increasing incidence rate of cancer is expected to drive the market in future.
This market research report on the global basal cell carcinoma therapeutics market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advancements in the field of oncology research as one of the key emerging trends in the global basal cell carcinoma therapeutics market:
Global basal cell carcinoma therapeutics market: Advancements in the field of oncology research
The big players of the pharmaceutical industry such as Merck Sharp & Dohme, Novartis, and Celgene are constantly developing medicines for various cancer indications. The urgency for the treatment has resulted in the companies receiving support from the US FDA, EMA, and other regulatory bodies. The oncology market has been growing at a very fast pace and has seen an increase in the number of drugs approved each year. The advancements in oncology are expected to contribute directly to the global basal cell carcinoma therapeutics market, thus helping the market growth during the forecast period.
“In 2016, the US FDA approved eight cancer medicines, while it approved a total of 18 medicines in 2017. The major players have multiple drugs in phase II and phase III stages of clinical trials for various indications of cancer and the number of approvals in the coming years is expected to grow significantly,” says a senior analyst at Technavio.
Global basal cell carcinoma therapeutics market: Segmentation analysis
This market research report segments the global basal cell carcinoma therapeutics market by ROA (topical RoA and oral RoA) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 51%, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the high prevalence of the disease in the region, the well-defined healthcare infrastructure in the US and increasing initiatives taken by the US government.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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