Global Oncology Drugs Market Size 2021: Current Trends, Latest Developments, Business Growth Statistics, Size with Regional Analysis 2030

In a recent published report, Kenneth Research has updated the market report for Global Oncology Drugs Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Oncology Drugs Market products.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10085341

According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Global Oncology Drugs Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024

Overview: Oncology drugs or anti-cancer drugs or anti-neoplastic drugs are agents that can be used alone or in combination to control or destroy neoplastic cells. These agents can be either systemic or targeted. In systemic, the drug spreads throughout the body, whereas in targeted, the drug or substance identifies the specific location causing less harm to the growth of neighboring healthy cells. The oncology drugs market, by applications, is segmented into breast cancer, blood cancer, prostate cancer, gastrointestinal cancer, lung cancer, and others. The incidence of cancer is one of the leading causes of death globally due to unhealthy food habits, changing lifestyle, and increasing consumption of tobacco-related products. According to the estimation of the National Cancer Institute, in the US, around 1.6 million new cases of cancer were diagnosed and 595,690 people died due to cancer in 2016. Nearly 60% of new cancer cases are from Africa, Asia, Central and South American countries and almost 70% of cancer deaths are from these regions. The Indian Council for Medical Research estimated around 1.4 million new cancer cases in 2016, which is expected to rise to 1.7 million cases by 2020.

Increased prevalence of cancer, unhealthy lifestyle, and increasing geriatric population are the primary factors driving the market growth. However, the high cost of the drug & development process and side effects of the drug are the factors hampering the market growth. The development of pipeline oncology products and expiry of key patents are providing an opportunity for the manufacturers of cancer drugs.

Market Analysis: The global oncology drugs market is estimated to witness a CAGR of 7.0% during the forecast period 2018–2024. The market is analyzed based on three segments: therapeutic modality, applications, and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is set to be the leading region for the oncology drugs market growth followed by Europe, Asia Pacific, and Rest of the World.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10085341

Therapeutic Modality Analysis: The global oncology drugs market by therapeutic modality is segmented into chemotherapy, immunotherapy, targeted therapy, and others. Chemotherapy occupied the largest share in 2017, and immunotherapy is expected to grow at a high CAGR in the coming years due to high efficiency, increased preference of targeted immunotherapy from chemotherapy, and fewer side effects.

Applications Analysis: The global oncology drugs market by applications is segmented into breast cancer, blood cancer, prostate cancer, gastrointestinal cancer, lung cancer, and others. Blood cancer occupied the largest share in 2017, and lung cancer application is expected to be the fastest growing segment during the forecast period due to the high incidence of lung cancer and promising pipeline for NSCLC drugs.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10085341

Key Players: F. Hoffmann-La Roche Ltd., Bristol–Myers Squibb, Novartis AG, Johnson & Johnson, Pfizer, Inc., Celgene Corporation, AstraZeneca PLC, GlaxoSmithKline plc, Eli Lilly and Company, Amgen Inc., Merck & Co., AbbVie, Inc., Sanofi, and other predominate & niche players.

Competitive Analysis: The high adoption of personalized medicine and immuno-oncology have fueled a shift in cancer treatment from chemotherapy in the past decade. During 2011–2017, around 84 new drugs have been approved across 22 indications globally, of which immuno-oncology PD-1 and PD-L1 inhibitors have seen a speedy uptake based on their notable clinical profile and approval for various cancers. Additionally, there is a robust late-stage oncology pipeline with around 630 unique molecules in the development, i.e., more than 7% when compared to the previous year, including 278 biological therapies and 82 vaccines. The market is dominated by key vendors such as F. Hoffmann-La Roche Ltd., Bristol–Myers Squibb, Novartis AG, Celgene Corporation, Pfizer Inc., and Johnson & Johnson; and products of these firms are available globally through their distributors and subsidiaries.

Benefits: The report provides complete details about the usage and adoption of oncology drugs in various applications and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the product adoption in the upcoming years along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in specific verticals to analyze before investing or expanding the business in this market.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10085341

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us
Kenneth Research
Email: Sales@kennethresearch.com
Phone: +1-(347)-627-0064,+1 313 462 0609

James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology

Leave a Reply