Newark, Jan. 11, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 146.72 billion in 2022 global oncology/cancer drugs market will reach USD 311.81 billion by 2032. Continued progress in genomics and biomarker discovery offers opportunities for precision medicine in oncology. Identifying specific genetic alterations and molecular markers can guide the development of targeted therapies tailored to individual patient profiles. Furthermore, CAR-T cell therapies have shown promise in treating certain hematologic malignancies. Opportunities lie in expanding the application of CAR-T cell therapies to other types of cancers and improving their safety and efficacy. Additionally, advancements in liquid biopsy technologies provide opportunities for non-invasive cancer diagnostics. Liquid biopsies enable the detection of circulating tumour DNA, RNA, and proteins, offering the potential for early cancer detection and monitoring treatment responses. Gene and cell therapies, including gene editing techniques like CRISPR, also present opportunities for developing innovative cancer treatments. Modifying genes or cells to target cancer-specific abnormalities may open new avenues for personalized therapies. Besides, nanotechnology offers opportunities to enhance drug delivery systems, improving the targeted delivery of cancer drugs and reducing side effects. Nano-sized drug carriers can enhance drug bioavailability and distribution to cancer cells.
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Key Insight of the global Oncology/Cancer Drugs market
Asia Pacific is expected to witness the highest market growth over the forecast period.
The region is home to a large and rapidly ageing population. Ageing is a main threat to cancer, and as the population ages, there is a growing majority of cancer cases, necessitating the use of cancer drugs. In addition, economic growth in countries like China, India, and others in the region has led to increased healthcare spending. Rising incomes and government initiatives contribute to improved access to advanced cancer treatments. Many nations in the Asia Pacific region are investing in developing healthcare infrastructure, including establishing specialized cancer treatment centres. Improved infrastructure enhances access to oncology drugs and treatments. Moreover, governments across the region are implementing initiatives to address the growing burden of cancer. Increased funding for cancer research, awareness programs, and treatment accessibility supports market growth. Further, the pharmaceutical industry in Asia Pacific is rapidly expanding, with a focus on research and development. Drug discovery and development investments contribute to the availability of a diverse range of oncology drugs. Besides, there is a growing adoption of targeted therapies and personalized medicine in the Asia Pacific region. Advances in genomics and molecular diagnostics contribute to developing more effective and targeted cancer treatments.
In 2022, the targeted therapy segment held the largest market share at 53.24% and a market revenue of 78.11 billion.
The drug class type segment is divided into chemotherapy, hormonal therapy, immunotherapy, targeted therapy and others. In 2022, the targeted therapy segment held the largest market share at 53.24% and a market revenue of 78.11 billion.
In 2022, the breast cancer segment dominated the market with the largest share of 24.36% and revenue of 35.74 billion.
The indication segment includes breast cancer, bladder cancer, colorectal cancer, head & neck cancer, lungs cancer, liver cancer, prostate cancer and others. In 2022, the breast cancer segment dominated the market with the largest share of 24.36% and revenue of 35.74 billion.
In 2022, the injectable segment dominated the market with the largest share of 62.44% and revenue of 91.61 billion.
The dosage form segment is classified into injectable, liquid and solid. In 2022, the injectable segment dominated the market with the largest share of 62.44% and revenue of 91.61 billion.
In 2022, the hospital pharmacies segment dominated the market with the largest share of 41.85% and revenue of 61.40 billion.
The distribution channel segment is split into hospital pharmacies, retail pharmacies and online pharmacies. In 2022, the nature language processing segment dominated the market with the largest share of 41.85% and revenue of 61.40 billion.
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Advancement in market
In November 2023: The US has approved AstraZeneca's Truqap (capivasertib) when used in combination with Faslodex (fulvestrant) for the treatment of adult patients diagnosed with HR-positive, HER2-negative, locally advanced or metastatic breast cancer. This approval is specifically for individuals with one or more biomarker alterations, including Phosphatase and tensin homolog (PTEN), AKT Serine/Threonine Kinase 1 (AKT1) or phosphatidylinositol-4,5-bisphosphate 3-kinase catalytic subunit alpha (PIK3CA).
In November 2023: Astellas Pharma Inc. has declared that, through a U.S. subsidiary, Astellas is set to acquire Propella under a merger agreement. Propella, a renowned biopharmaceutical company, has utilized an exclusively owned proprietary platform that integrates medicinal chemistry with lymphatic targeting to develop novel oncology drugs.
Market Dynamics
Driver: government initiatives and funding.
Governments worldwide play a pivotal role in advancing cancer care through supportive initiatives, which include establishing national cancer control programs, public awareness campaigns, and initiatives to enhance cancer prevention, early detection, and treatment. These efforts form facilitative circumstances for the growth of the oncology drugs market. Governments and private and philanthropic organizations allocate substantial funding for cancer research. Research grants, fellowships, and institutional support contribute to discovering novel therapeutic targets, innovative drug development, and advancements in cancer treatment strategies. Increased funding fosters a robust pipeline of potential oncology drugs. Furthermore, regulatory agencies like the FDA and the European Medicines Agency (EMA) provide incentives and streamlined pathways for developing and approving oncology drugs. Fast-track designations, priority review processes, and orphan drug status are regulatory incentives encouraging pharmaceutical companies to invest in cancer drug development.
Restraint: Limited efficacy in some cancers.
Some cancers possess inherent characteristics that make them resistant to traditional therapies, such as chemotherapy or radiation therapy. This resistance can be attributed to the specific biology of the cancer cells, including mutations or alterations that render them less susceptible to standard therapeutic approaches. Tumours often exhibit heterogeneity, meaning that different subpopulations of cancer cells within the same tumour may have distinct molecular profiles. This diversity makes it challenging to target all cancer cells effectively with a single therapy, leading to treatment resistance. In addition, cancer cells can evolve, acquiring new mutations or genetic alterations that confer resistance to previously effective treatments. Despite ongoing therapeutic interventions, this adaptive capability allows cancer cells to survive and proliferate.
Opportunity: Orphan drugs and rare cancers.
Rare cancers often lack specific treatment options due to a limited understanding of the diseases and fewer research initiatives compared to more common cancers. Developing orphan drugs for these rare cancers provides an opportunity to meet significant unmet medical needs, offering hope to patients with few or no treatment alternatives. Additionally, regulatory agencies, such as the FDA and the European Medicines Agency (EMA), provide orphan drug designation to drugs for treating rare diseases or conditions. Companies developing orphan drugs receive market exclusivity for a specified period, protecting them from competition and allowing for a more favourable market position. Orphan drug designation often comes with extended periods of patent protection. This additional protection provides companies a longer period during which they can exclusively market and sell the orphan drug, allowing them to recoup development costs and potentially generate greater returns on investment.
Challenge: Diversity in patient populations.
Genetic diversity plays a crucial role in how individuals respond to cancer drugs. Genetic variations can impact drug metabolism, efficacy, and toxicity. Different ethnic groups may exhibit variations in drug-metabolizing enzymes, drug transporters, and drug targets, influencing the overall pharmacogenomics of cancer treatments. Furthermore, pharmacogenetic differences between ethnic groups can result in varied drug responses. Polymorphisms in genes accountable for drug disposition and metabolism may affect the pharmacokinetics and pharmacodynamics of cancer drugs, influencing both efficacy and adverse effects. Historically, clinical trials investigating cancer drugs have often underrepresented certain ethnic and racial groups. This lack of diversity in trial populations limits the generalizability of study findings and may lead to an incomplete understanding of how drugs perform in diverse patient cohorts.
Some of the major players operating in the global Oncology/Cancer Drugs market are:
• AbbVie Inc.
• AstraZeneca PLC
• ARIAD Pharmaceuticals, Inc.
• Amgen Inc.
• Astellas Pharma Inc.
• Boehringer Ingelheim GmbH
• Bayer Healthcare AG
• Bristol-Myers Squibb Company
• CELGENE Corporation
• Eli Lilly and Company
• GlaxoSmithKline
• Genentech, Inc.
• Hoffmann-La Roche Ltd.
• Johnson & Johnson
• Merck & Co.
• Novartis
• Pfizer
• Sanofi
• Teva Pharmaceuticals Industries
Key Segments cover in the market:
By Drug Class Type
• Chemotherapy
• Hormonal Therapy
• Immunotherapy
• Targeted Therapy
• Others
By Indication
• Breast Cancer
• Bladder Cancer
• Colorectal Cancer
• Head & Neck Cancer
• Lungs Cancer
• Liver Cancer
• Prostate Cancer
• Others
By Dosage Form
• Injectable
• Liquid
• Solid
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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