The global market for anticancer drugs was worth US$ 85,000 million in 2016, with targeted drugs dominating the global market.
Albany, NY -- (SBWIRE) -- 02/01/2018 -- This research report offers a comprehensive analysis of the "Anticancer Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025" The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Global Anticancer Drugs Market: Snapshot
Cancer is one of the leading cause of death worldwide and considered as the second major cause of death after cardiovascular diseases. The drugs that are used to prevent or reduce the cell proliferation of cancer tissues are termed as anticancer drugs. These drugs are used for treatment of various forms of cancer as well as in combination with radiation therapy, surgery or chemotherapy. The global market for anticancer drugs was worth US$ 85,000 million in 2016, with targeted drugs dominating the global market.
The global anticancer drugs market is witnessing a significant growth and is expected to expand at substantial CAGR during the forecast period of 2017–2025. Factors such as the rising prevalence of cancer in many regions, rising awareness towards cancer diagnosis and treatment, introduction of novel pipeline drugs and therapies, rise in cancer awareness programs such as breast cancer screening are expected to have a positive impact on the growth of global anticancer drugs market during the forecast period.
Drugs for Lung Cancer to Continue to See High Uptake
The global anticancer drugs market is segmented on the basis of drug type, therapy type and cancer types. Based on drug type, the global anticancer drugs market is segmented into cytotoxic drugs, targeted drugs, and hormonal drugs. Targeted drugs segment accounted for over 40% share in terms of value of the global anticancer drugs market in 2016. The segment is anticipated to dominate the global anticancer drugs market throughout the forecast period due to increase in uptake of targeted therapies, specific activity of the drugs, and limited side effects as compared to other types.
Based on the therapy type, the global anticancer drugs market is segmented into chemotherapy, targeted therapy, immunotherapy and others. Targeted therapy is expected to be the leading segment and is expected to expand at 6%-7% CAGR over the forecast period due to shift of preference from chemotherapy to targeted therapy. Based on cancer types, the global market is segmented into lung cancer, breast cancer, leukemia, and colorectal cancer. The segment of lung cancer is expected to expand at a robust CAGR of over 6% during the forecast period due to high prevalence and incidence of lung cancer and promising pipeline for non-small cell lung cancer (NSCLC) drugs.
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Developed Regions to Remain at the Fore of Development of Anticancer Drugs Market
Geographically, North America and Europe are the leading regional markets with promising revenue opportunity for the global market. The U.S, U.K and Germany show high adoption for anticancer drugs as compared other regions due to developed healthcare infrastructure, targeted efforts of government and NGOs towards cancer management, prevalence of unhealthy lifestyle, and high prevalence of the disease in the regions.
The market for anticancer drugs Asia Pacific is expected to show expansion at a rapid pace during the forecast period. Developed countries such as Australia and Japan are favorable for the growth of the market. Projected pipeline drugs, rising prevalence of number of forms of cancer, rising disposable incomes, and increased awareness regarding the benefits of early diagnosis are driving the growth of the regional market. India and China are attractive markets due high prevalence of the disease and entry of established market players. The market in regions such as Latin America and Middle East and Africa is expected to grow at moderate rate during the forecast period.
Some of the key players in the global anticancer drugs market are F. Hoffmann-La Roche Ltd, Eli Lilly and Company, CELGENE CORPORATION, Novartis AG, Pfizer Inc, Amgen Inc, Bayer AG, AstraZeneca, Takeda Pharmaceutical Company Limited, Merck & Co., Inc.
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