U.S (New York) – Report Ocean has recently published a comprehensive research report titled “China Oncology 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 China oncology drugs market was valued at $6,498.2 million in 2018 and is projected to reach $12,688.7 million by 2026, registering a CAGR of 8.7% from 2019 to 2026. Cancer is the second leading cause of death globally and is responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer according to the data published by WHO. Being the most populous country in the world, cancer rates are significantly rising in China. As per Global Cancer Observatory in 2018, the number of new cancer cases registered each year in China are 4,285,033.
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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.
Amongst which, lung cancer constitutes 18.1%; colorectum cancer is about 12.2%; stomach cancer is approximately 10.6%; liver cancer constitutes 9.2%; breast cancer comprises of 8.6% and 41.1% other cancers. The population of China accounts for 19.3% of the global population, and the incidence rate of cancer accounts for 22% of global cancer incidence, ranking first in the world. Cancer deaths in China account for about 27% of global cancer deaths. Cancer mortality in China is also higher than the global average of 17%.
Rise in incidence of various cancer conditions, aging population, westernized diet, shift to sedentary lifestyle, and surge in tobacco smoke exposure due to urbanization in China are the key factors that drive the growth of the cancer. This in turn boosts the growth of the China oncology drugs market. Furthermore, rise in cancer awareness and increase in availability of cancer drugs are expected to boost the market growth. However, the use of traditional Chinese medicine (TCM) to cure cancer and high cost involved in new drug development coupled with threat of failure & adverse effects associated with cancer drugs therapies are expected to restrain the growth of the market. Conversely, high potential of emerging economies and increase in number of pipeline products are expected to provide new opportunities for market players in future.
The China oncology drugs market is segmented based on drug class type and indication. Depending on drug class type, the market is divided into chemotherapy, targeted therapy, immunotherapy, and hormonal therapy. By indication, it is categorized into blood cancer, breast cancer, gastrointestinal cancer, prostate cancer, lung cancer, skin cancer, ovarian cancer, cervical cancer, kidney cancer, and other cancers.
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KEY MARKET BENEFITS
> This report entails a detailed quantitative analysis along with the current China oncology drugs market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
> The market forecast is studied from 2019 to 2026.
> The market size and estimations are based on a comprehensive analysis of key developments in the industry.
> A qualitative analysis based on innovative products facilitates strategic business planning.
> The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
LIST of KEY PLAYERS PRofILED IN THE REPORT
> AbbVie Inc.
> Astellas Pharma Inc.
> AstraZeneca PLC
> Bristol-Myers Squibb Company
> Celgene Corporation
> F. Hoffmann-La Roche Ltd.
> Johnson & Johnson
> Shanghai Junshi Biosciences Co., Ltd.
> Beigene
> Jiangsu Hengrui Medicine Co., Ltd
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Key market segments
By Drug Class Type
> Chemotherapy
> Targeted Therapy
> Immunotherapy Therapy
> Hormonal Therapy
By Indication
> Blood Cancer
> Breast Cancer
> Gastrointestinal Cancer
> Prostate Cancer
> Lung Cancer
> Skin Cancer
> Ovarian Cancer
> Cervical Cancer
> Kidney Cancer
> Other Cancers
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