Theglobal 'oncology drugs marketsize’ is expected to reach USD 394.24 billion by 2027,exhibiting a CAGR of 11.6% during the forecast period. The growing prevalenceof cancer around the world will spur opportunities for this market during theforecast period, states Fortune Business Insights, in a report, titled“Oncology Drugs Market Size, Share &COVID-19 Impact Analysis, By DrugsClass (Cytotoxic Drugs, Targeted Drugs, Hormonal Drugs, and Others), By Therapy(Chemotherapy, Targeted Therapy, and Immunotherapy), By Indication (LungCancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, andOthers), By Dosage Form (Solid, Liquid, and Injectable), By Distribution Channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), andRegional Forecast, 2020-2027.” The market size stood at USD 141.33 billion in2019.
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The oncology drugs market highlights:
- An extensivestudy of regions
- Forecast value of the market
- Detailed analysis ofthe segments
- COVID-19 effect on the market
- Ongoing clinical trials
Regional Analysis:
Rising Prevalence to Cancer to Influence Market in North America
Themarket size in North America is expected to witness a rapid growth rate duringthe forecast period. The dominance in the region is attributed to the growingprevalence of cancer in the U.S. As per the National Cancer Institute, in 2020,approximately 1.8 million people will be diagnosed with cancer in the U.S. Therecent product launches will aid the expansion of the market in the region.Europe is predicted to exhibit a stellar growth rate during the forecast periodowing to the growing cancer burden in countries such as U.K., Germany, andFrance. The market in Asia Pacific is predicted to rise tremendously during theforecast period due to the rising awareness among the population regardingcancer.
Frequently Ask Question :
1) How much is the oncology drugsmarket worth?
Fortune Business Insights says that the global oncology drugs marketsize was USD 141.33 billion in 2019 and is projected to reach USD 394.24billion by 2027.
2) What was the value of themarket in North America in 2019?
In 2019, the North America market value stood at USD 65.63 billion.
3) At what CAGR is the marketprojected to grow in the forecast period (2020-2027)?
Growingat a CAGR of 11.6%, the market will exhibit steady growth in the forecastperiod (2020-2027).
An Overview of the Impact of COVID-19 on this Market :
Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral companies can help in the fight against this highly contagious disease.There are some industries that are struggling and some are thriving. Overall,almost every sector is anticipated to be impacted by the pandemic.
Weare taking continuous efforts to help your business sustain and grow duringCOVID-19 pandemics. Based on our experience and expertise, we will offer you animpact analysis of corona virus outbreak across industries to help you preparefor the future.
Positive Impact on Oncology Drugs Market Growth During COVID-19
Theoutbreak of COVID-19 has had a positive impact on the oncology drugs marketglobally. Certain market segments have witnessed a growth in demand for drugswith respect to the COVID-19 emergency. Panic buying of medications has beenwitnessed among the cancer patients amid lockdown. The pharmaceutical companiesinvolved in this market have significantly improved their supply chainmanagement, enhanced the capabilities of their R&D, and invested more theirmanufacturing management and quality control. For instance, according to thequarterly reports of 2020 of Roche, their global supply chain of medicines andtests remain intact and their pharmaceutical division sales increased by 7% ascompared to the prior year.
Market Driver:
Surging Pharmaceutical Industry to Contribute Colossal Development
Theongoing technological advancement in the field of pharmacy is expected tocreate opportunities for the market during the forecast period. The clinicaltrials and various drugs in the pipeline can further facilitate the healthygrowth of the industry. The growing cases of numerous types of cancer, such aslung cancer, skin cancer, prostate cancer, colon cancer, breast cancer, andothers will spur demand for oncology drugs, thus enhancing market growth.According to the World Health Organization (WHO), cancer is a growing burdenand the number of new cancer cases is going to rise from 18.1 million in 2018to 29.4 million by 2040. Moreover, product launches and approvals are expectedto have a tremendous impact on the market.
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Positive Impact on Oncology Drugs Market Growth During COVID-19
Theoutbreak of COVID-19 has had a positive impact on the oncology drugs marketglobally. Certain market segments have witnessed a growth in demand for drugswith respect to the COVID-19 emergency. Panic buying of medications has beenwitnessed among the cancer patients amid lockdown. The pharmaceutical companiesinvolved in this market have significantly improved their supply chainmanagement, enhanced the capabilities of their R&D, and invested more theirmanufacturing management and quality control. For instance, according to thequarterly reports of 2020 of Roche, their global supply chain of medicines andtests remain intact and their pharmaceutical division sales increased by 7% ascompared to the prior year.
Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Key Indications (Lung Cancer, Breast Cancer, Prostate Cancer, etc.), By Region/Country
- Overview of Different Oncology Drugs with respect to Regulatory Approvals and Clinical Trials
- Pricing Analysis, By Key Players
- Recent Advancements in Development of Oncology Drugs
- Key Industry Developments (Mergers, Acquisitions, and Partnerships)
- Impact of COVID-19 on Oncology Drugs Market
Contine…
Key Development:
April 2019: Sun Pharmaceutical Industriesannounced the release of INFUGEM injection, which will ve used for thetreatment of cancer in the US.
The Report Lists the Main Companies in the Market:
- Hoffmann-La Roche Ltd (Basel, Switzerland)
- Genentech, Inc. (California, United States)
- Novartis AG (Basel, Switzerland)
- Pfizer Inc. (New York, United States)
- Bristol-Myers Squibb Company (New York, United States)
- GlaxoSmithKline plc. (Brentford, United Kingdom)
- Eli Lilly and Company (Indiana, United States)
- AstraZeneca (Cambridge, United Kingdom)
- Sanofi (Paris, France)
- Bayer AG (Leverkusen, Germany)
- Other Players
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Global Oncology Drugs Market Segmentation :
By Drug Class
- Cytotoxic Drugs
· Alkylating Agents
· Antimetabolites
· Others
- Targeted Drugs
· Monoclonal Antibodies
· Others
- Hormonal Drugs
- Others
By Therapy
- Chemotherapy
- Targeted Therapy
- Immunotherapy
By Indication
- Lung Cancer
- Stomach Cancer
- Colorectal Cancer
- Breast Cancer
- Prostate Cancer
- Others
By Dosage Form
- Solid
· Tablets
· Capsules
- Liquid
- Injectable
· Prefilled Syringes
· Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
By Geography
- North America (the U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
- Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)
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