Anti-Cancer Drug Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029

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Anti-Cancer Drug Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029

Status : March, 2023 | Pharmaceutical

Report Digest

Anti-Cancer Drug Market: Overview

Anticancer drugs have attracted profound interest of molecular biologists, medicinal chemists, and oncologists. The drive in the anticancer drugs market has gained impetus from relentless efforts in the discovery and design of novel cancer therapies. The research community has over the course of few years gravitated from cytotoxic chemotherapy to targeted cancer drug discovery which use novel drug targets. Analysis of drug-disease or -target networks plays crucial role in identification of these drug targets. Industry players in the anticancer drugs market are also trying novel drug combinations and new drug repurposing strategies.

Research on finding new chemotherapy drugs has expanded the horizon in the anticancer drugs market, helping scientists design effective oncology drugs. The anticancer drugs market has seen the novel small-molecule cancer drugs paving way to future research directions.

Anti-Cancer Drug Market: Competitive Analysis and Key Developments

Expanding array of new effective oncology drugs approved by the FDA over the past several years has shaped the completive dynamics of the anticancer drugs market. As many as 20 oncology drugs have been approved in 2017. Of these, 12 are anticancer drugs while eight are for orphan drug indications. Noteworthy approvals were Chimeric Antigen Receptor (CAR)-T cell therapies and IDH2 inhibitor.

The subsequent year borne more striking approvals in the anticancer drugs market: ‘tissue-agnostic’ drug to treat tumors of a specific type of mutation that applies to all cancers. In 2019, an anticancer drug for treating indications of relapsed or refractory multiple myeloma (RRMM) further broadened the revenue potential of the anticancer drugs market. A majority of the anticancer drugs approved by the U.S. FDA were large molecules.

Targeted chemotherapies will gain further significance in shaping the competitive dynamics in the anticancer drugs market. Some of the prominent players in the anticancer drugs market are Hoffmann-La Roche Ltd, Celgene Corporation, Pfizer, Novartis, Sanofi, GlaxoSmithKline, Bristol-Myers Squibb, and Merck.

Anti-Cancer Drug Market: Key Trends

The worldwide health burden of cancer is massive by any standard. According to various reports by the WHO one in five men and one in six women can develop cancer during their lifetime, while one in 8 men and one in 11 women will die from it. The mortality of some cancers are significantly higher than the mortality of others. Among those with substantial mortality are lung cancer, stomach cancer, liver cancer, and colorectal cancer.

A number of strategies have been adopted by researchers that shorten the drug development process. This has been bolstering new opportunities for pharmaceutical companies in the anticancer drugs market. Identification of novel drug targets has hastened the development and design of innovative anticancer drugs. Advances in new strategies for drug repurposing have opened new avenues in the anticancer drug market. In this regard, data from human genome project has boosted the growth of the market. In recent years, industry players in the anticancer drugs market have been trying to leverage the potential of monoclonal antibodies. Demonstrating the potential of antibody–drug conjugates and growing understanding of activity/function spectrum are boosting the anticancer drugs market. Various kinase inhibitors have gained importance.

Anti-Cancer Drug Market: Regional Analysis

Some of the key regions in the anticancer drugs market are North America, Europe, the Middle East and Africa, Asia Pacific, and Asia Pacific. North America, Europe, and Asia Pacific are regional market with considerable revenue potential during the forecast period.

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  • How has COVID-19 affected the market?
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  • What are the major threats that will dent the growth prospects of the market?