Anti-Cancer Drug Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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