- September 21, 2020
- Category: Drugs and Therapeutics, Healthcare and LifeSciences
Global Anticancer Drugs Market is valued approximately at USD 105.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2020-2027. Sales of anti-cancer drugs are gaining momentum, as many awareness campaigns are being undertaken at global level by governments and central authorities. The National Breast Cancer Foundation, Inc. is undertaking an annual initiative to promote information on the disease by observing October as a month of recognition of breast cancer and encouraging women to undergo screening tests. Such programs are rising the number of diagnostics, unwittingly creating a large patient pool for anticancer drugs. The increase in funding to promote research and development of anticancer therapy is contributing to improvements in treatment methods and routes of administration. The creation of therapies with improved patient outcomes and less side-effects than traditional drugs is expected to increase patient confidence in these drugs and thus improve the growth potential of the market for anticancer drugs. Besides, the U.S. The Food and Drug Administration (FDA) determines the status of ‘orphan drugs’ for drugs that have a promising potential for the treatment of rare diseases. In order to further encourage the production of highly successful medicines for rare diseases such as cancer, the FDA provides benefits such as market exclusivity and tax credits for clinical trials. In the background of these dynamics, the demand for and availability of these drugs is expected to increase, thereby boosting the growth of the global market for anticancer drugs. Anti-cancer drug market sales are projected to rise by 50% over the next five years, primarily due to favorable regulatory scenarios in the U.S. According to the American Cancer Society, the number of deaths worldwide was 8.2 billion in 2012 and is projected to rise over the predicted period. Despite a dramatic increase in cancer diagnosis rates, the sales of anticancer drugs have yet to recognize their true potential. Growing understanding of the side-effects of anticancer treatment, such as hair loss, anemia, constipation, infection and neutropenia, sexual health problems, and bleeding and bruising, is expected to raise the consumer’s inclination towards natural therapy. In regions such as Southeast Asia , the Middle East and Africa, India and China, patients are taking alternative therapeutic drugs such as Ayurveda, homoeopathic and herbal medicines, which could have a negative effect on the demand for anticancer drugs during the forecast period (2020-2027).
The regional analysis of global Anticancer Drugs Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is projected to grow at a rapid pace during the forecast period other than Japan and Australia, which appears to be favorable to business growth. Growing recognition of the advantages of early detection, growing disposable incomes, increasing prevalence of the number of types of cancer, and estimated pipeline drugs are driving the growth of the regional sector. Due to the easy availability of drugs in the region and high spending on healthcare from both the private and public sectors, North America is projected to make a major contribution to the global market for anti-cancer drugs. Apart from that, existing players are joining China and India because of the high prevalence of the market making it attractive. Markets in other regions, such as Africa , the Middle East and Latin America, are expected to expand at a moderate pace during the forecast period.
Major market player included in this report are:
F. Hoffmann-La Roche Ltd
Eli Lilly and Company
Takeda Pharmaceutical Company Limited
Merck & Co., Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Drug Type:
By Therapy Type:
By Cancer Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Anticancer Drugs Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers