The new report by Expert Market Research titled, ‘Global Cancer Therapeutics Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global cancer therapeutics market, assessing the market based on the top selling drugs, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 109,268.7 Million
• Forecast CAGR (2021-2026): 10.1%
• Forecast Market Size (2026): USD 194,634.5 Million
The growth in the global cancer therapeutics market is rising as cancer prevalence is increasing, pharmaceutical company collaborations are on the surge, and cancer research has also been enhanced. In addition, the growing geriatric population is anticipated to drive the market. However, the rising cost of cancer treatment drug research, as well as the negative impacts of anticancer therapy, are among the factors limiting market growth. Alternatively, the rise in demand for personalised medicine and the great potential of developing countries are anticipated to offer new opportunities for market participants. Competitive pressure and consistent technical advances have resulted in product line advancements; thus, product authorizations and product innovation are two of the main planning processes used by market participants in the global cancer therapeutics market.
Industry Definition and Major Segments
Cancer therapy entails its use administration of chemotherapeutics and oncology drug treatments. It is a form of treatment that uses drugs or even other substances to identify and target specific types of cancer cells while causing less damage to normal cells. A few therapeutic approaches inhibit the activity of specific enzymes, proteins, or other molecules involved in cancer cell development.
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Based on top selling drugs, the market is divided into:
Based on application, the industry is segmented into:
• Blood Cancer
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Cervical Cancer
On the basis of region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Cancer incidences are increasing, pharmaceutical companies are cooperating more, and there is more innovation in the cancer-research sector, all of which are propelling the market of the cancer therapeutics industry. The geriatric population is expected to grow during the forecast period, expanding the market for cancer therapy. Furthermore, rising demand for targeted therapies and greater investment in the health sector, mainly in developing nations, are offering new opportunities for growth for the cancer therapeutics market. Furthermore, rising government initiatives to raise cancer awareness and the growing demand for personalised medicine that provides accurate and effective results are expected to drive the market during the forecasted period.
Key Market Players
The major players in the market are AbbVie Inc. (NYSE: ABBV), Astellas Pharma Inc., Bristol Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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