Allied Market Research published a report, titled, "Top 10 Cancer Drugs Market by Region (Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2018–2026." According to the report, the global top 10 cancer drugs industry generated $63.61 billion in 2018, and is estimated to reach $129.94 billion by 2026, witnessing a CAGR of 9.8% from 2019 to 2026.
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Drivers, restraints, and opportunities
Surge in incidence of cancer across the globe, increase in aging population, and rise in expenditure of government on healthcare infrastructure drive the global top 10 cancer drugs market. However, adverse effects related to usage of cancer usage hinder the market growth. Contrarily, surge in number of pipeline drugs and untapped potential in emerging geographies create new opportunities in the market.
Drugs such as Revlimid, Opdivo, Keytruda, Herceptin, Avastin, Rituxan, Imbruvica, Neulasta/Peglasta, Ibrance, and Zytiga are the top selling drugs in 2018. The key drivers of the global cancer drugs market are increase in incidence of cancer, rise in adoption of advance therapies such as biological & targeted drug therapies, surge in geriatric population, and rise in collaborations & partnerships to facilitate drug development. In addition, availability of the drugs and increase in healthcare expenditure have significantly contributed toward the growth of this market. Increase in number of pipeline drugs along with high potential of emerging economies are further expected to provide lucrative opportunities for market expansion. However, high cost involved in new drug development and adverse effects related to cancer drugs are expected to impede the market growth.
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Leading market players:
- AbbVie Inc.
- Astellas Pharma Inc.
- AstraZeneca PLC
- Bristol-Myers Squibb Company
- Celgene Corporation
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson (Janssen Global Services, LLC)
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
The global top 10 cancer drugs sales is segmented on the basis of region. Regionally, the market is studied across Europe (Russia, Netherlands, Switzerland, Sweden, Belgium, Austria, Norway, Denmark, Poland, Finland, Portugal, Greece, Ireland, Czech Republic, Hungary, Romania, Ukraine), Asia-Pacific (Taiwan, Indonesia, New Zealand, Singapore, Malaysia, Vietnam, Myanmar, Sri Lanka, Macau, Nepal), and LAMEA (Turkey, Venezuela, Colombia, Argentina, Iran, Israel, Chile, Algeria, United Arab Emirates, Puerto Rico, Morocco, Costa Rica, Lebanon).
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