U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Oncology/Cancer Drugs Market ” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
The global oncology drugs market was valued at $128,352 million in 2019, and is projected to reach $222,380 million by 2027, registering a CAGR of 7.4%. Biological drugs based on monoclonal antibodies (mAbs) have emerged as a preferred option to treat various cancer types. Rise in incidence of various cancer conditions, increase in popularity of advance therapies (biological and targeted drug therapies), and surge in geriatric population worldwide are the key factors driving the growth of the global oncology/cancer drugs market. Furthermore, rise in cancer awareness, early screening of the cancer and availability of cancer drugs are expected to boost the market growth.
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Cancer is the uncontrolled growth of abnormal cells in the body. Cancer develops when the body’s normal control mechanism stops working. Old cells do not die and instead grow out of control, forming new, abnormal cells. The treatment of cancer in patients requires the use of different drugs like hormonal therapy, immunotherapy, targeted therapy, and chemotherapy.
However, high cost involved in new drug development coupled with threat of failure & adverse effects associated with cancer drugs therapies is expected to restrain the growth of the market. Conversely, high potential of emerging economies and higher number of potential drugs in pipeline are expected to provide new opportunities for market players in future.
The global oncology/cancer drugs market is segmented based on drug class type, indication, and region. Depending on drug class type, the market is divided into chemotherapy, targeted therapy, immunotherapy (biologic therapy), and hormonal therapy. By indication, it is categorized into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer, and other cancers. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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KEY BENEFITS FOR STAKEHOLDERS
? The study provides an in-depth analysis of the global oncology/cancer drugs market along with the current trends and future estimations to elucidate the imminent investment pockets.
? The report provides a quantitative analysis for the period of 2019-2027 to enable stakeholders to capitalize on the prevailing market opportunities.
? Extensive analysis of the market by components helps to understand the various types of instruments used across geographies.
? Comprehensive analysis of all geographic regions is provided to determine the prevailing opportunities in these regions.
? Key market players have been profiled in the report and their strategies have been analyzed thoroughly to understand the competitive outlook of the global market.
? Extensive analysis of the market is conducted by closely following key product positioning, and monitoring the top contenders within the market framework.
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KEY MARKET SEGMENTS
By Drug Class Type
– Chemotherapy
– Targeted Therapy
– Immunotherapy (Biologic Therapy)
– Hormonal Therapy
By Indication
– Lung Cancer
– Stomach Cancer
– Colorectal Cancer
– Breast Cancer
– Prostate Cancer
– Liver Cancer
– Esophagus Cancer
– Cervical Cancer
– Kidney Cancer
– Bladder Cancer
– Other Cancers
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By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
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– Asia-Pacific
o Australia
o Japan
o India
o China
o Rest of Asia-Pacific
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– LAMEA
o Latin America
o Middle East and Africa
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