North America to Remain Frontrunner in Anti-Neoplastic Agents Market
Global Anti-Neoplastic Agents Market Information, by type (alkylating and alkylating-like agents, antimetabolites, antitumor antibiotics, plant alkaloids, hormonal agents, and miscellaneous agents), by end user (hospitals, clinics, research institutes, cancer rehabilitation centers and others) - Forecast to 2027
Market Analysis
The global anti-neoplastic agents market is predicted to touch USD 150 billion at an 8% CAGR over the forecast period (2016-2022), states the new Market Research Future (MRFR) report. Anti-neoplastic agents, simply put, are specialized drugs used to treat cancer. It is administered to patients in combination with other anti-neoplastic drugs or alone. This can be given after, during, or before a patient undergoes radiation therapy or surgery. It is extensively used together with targeted therapy, radiotherapy, hormone therapy, surgery, and immunotherapy for different types of solid tumors, especially metastatic. This travels inside the body for destroying the cancerous cells.
The anticancer or anti-neoplastic agents are a diverse and large class of medications. Generally, they have limited yet vital uses, and at times have significant hepatotoxicity. They are not easily classified, yet historically are categorized into hormones and antagonists, natural products, antimetabolites, alkylating, and miscellaneous.
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Various factors are propelling the anti-neoplastic agents market growth. These factors, as stated by the latest MRFR report, include growing geriatric population, the alarming prevalence of diseases owing to changes in lifestyle, demand for cost-effective cancer treatment, and increasing funding by government authorities. Additional factors propelling market growth include favorable reimbursement policies, increasing incidence of cancer cases, and constant advancements in technology.
On the flip side, lack of expertise about cancer treatment in underdeveloped nations and some developing nations, and technological complexities associated with the diagnostic examination are factors that are likely to deter the anti-neoplastic agents market growth over the forecast period.
Market Segmentation
The MRFR report provides a complete segmental analysis of the anti-neoplastic agents market report on the basis of end user and type.
Based on type, the anti-neoplastic agents market is segmented into miscellaneous agents, antitumor antibiotics, hormonal agents, plant alkaloids, antimetabolites, alkylating and alkylating-like agents, and others.
Based on end user, the anti-neoplastic agents market is segmented into research institutes, clinics, hospitals, cancer rehabilitation center, and others. Of these, the hospital segment will dominate the market over the forecast period.
Regional Analysis
By region, the anti-neoplastic agents market report covers the latest trends and growth opportunities across Europe, the Asia Pacific, North America, and the Middle East and Africa. Of these, North America will remain the frontrunner in the market over the forecast period. It is predicted to touch USD 111 billion by 2022. Factors aiding growth in the region include consumers unhealthy lifestyle, resulting in chronic diseases, government expenditure, and advanced healthcare facilities and infrastructure.
The anti-neoplastic agents market in Europe is predicted to have the second-largest share in the market over the forecast period. Germany and the UK are the key contributors in this region due to growing awareness about anti-neoplastic agents, advancement in the healthcare industry, favorable government policies, and government funding.
The anti-neoplastic agents market in the APAC region is predicted to grow at the fastest pace over the forecast period. Australia and Japan are the key contributors in this region, followed by India and China.
Factors aiding growth in the region include improving healthcare sector, awareness of the benefits of early diagnosis, and rise in disposable income.
The anti-neoplastic agents market in the Middle East and Africa is predicted to have a gradual and slow growth over the forecast period. This is chiefly due to scarcity of skilled expertise for medical treatments and cancer cure, lack of awareness about antineoplastic agents and optimal healthcare, and lack of proper healthcare facilities.
Key Players
Leading players profiled in the anti-neoplastic agents market report include Teva Pharmaceutical Industries Ltd, AbbVie Inc., Bristol-Myers Squibb Company Genentech Inc., Baxter Healthcare Corporation, Pfizer Inc., Aspen Holdings, F. Hoffmann-La Roche Ltd, Amgen Inc., and Bayer AG, Boehringer Ingelheim GmbH. Various strategies have been incorporated by key players to strengthen their position in the market and also cater to the growing demands of the consumers. These strategies include product innovations and launches, research and development activities, mergers and acquisitions, partnerships/joint ventures, collaborations, and expansions.
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