Oncology Drugs Market Report
The report on the Global Oncology Drugs Market is segmented By Drug Class (Cytotoxic drugs, Targeted drugs, Hormonal drugs, Others), By Therapy (Chemotherapy, Targeted therapy, Immunotherapy), By Indication (Blood Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Cervical Cancer, Brain Tumor, Skin Cancer, Ovarian Cancer, Bladder Cancer, Pancreatic Cancer, Others) and Region. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global oncology drugs market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Oncology Drugs Market is segmented By Drug Class (Cytotoxic drugs, Targeted drugs, Hormonal drugs, Others), By Therapy (Chemotherapy, Targeted therapy, Immunotherapy), By Indication (Blood Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Cervical Cancer, Brain Tumor, Skin Cancer, Ovarian Cancer, Bladder Cancer, Pancreatic Cancer, Others) and Region. ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Oncology Drugs Market is projected to grow from USD 182.56 billion in 2020 to USD 340.27 billion by 2026 at a CAGR of over 10.9% during the forecast period.
Figure: Global Oncology Drugs Market Size, 2020-2026 (USD Billion)
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The increased developments in the pharmaceutical industry in the past few years, continue to make cancer more treatable. The growing prevalence of cancer led to a rise in demand for cancer drugs across the globe. The oncology drugs that are majorly used in the diagnosis of cancer depend upon the stages of the progression. Various types of cancer such as blood cancer, skin cancer, lung cancer, breast cancer, gastrointestinal cancer, and bone cancer among others can be treated by oncology drugs.
Key players operating in the global oncology drugs market are-
Increasing incidence of different types of cancers, strong technological advancements, rising concern over high death rates due to cancer, and a surge in the need for better R&D activities in cancer treatment are some of the key drivers augmenting the product demand.
Moreover, the introduction of new therapies and drugs for cancer and government support to enhance the healthcare facilities are further expected to promulgate the demand for oncology drugs. However, strict government regulations and the high cost of cancer treatments are likely to hinder the industry's growth.
Based on therapy, the global oncology drugs market has been classified into chemotherapy, targeted therapy, and immunotherapy.
By region, the North America market garnered the largest market share in 2020 and is projected to grow at a robust CAGR during the review period.
The COVID-19 outbreak adversely affected the market growth of the oncology drugs industry due to shift of medical treatment from cancer to rising coronavirus affected patients.
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The oncology drugs market is expected to witness an impressive growth of 10.9% CAGR in the foreseeable future.
F. Hoffmann-La Roche AG (Switzerland), Novartis AG (Switzerland), Bristol-Myers Squibb Company (The U.S), Merck & Co., Inc. (The U.S), Johnson & Johnson (The U.S), Pfizer Inc. (The U.S), AstraZeneca (UK), AbbVie Inc. (The U.S), Astellas Pharma Inc. (Japan) and CELGENE CORPORATION (The U.S) are among the key players in the oncology drugs market.
The oncology drugs market size is expected to reach USD 340.27 billion in the coming years.
North America garnered the largest share in the oncology drugs market in 2020.
The targeted therapy segment is expected to register the healthy CAGR in the oncology drugs market during the forecast period.
Oncology Drugs companies, Hospitals, Diagnostic Centers And Laboratories, Academic Institutions, Research Centers & Organizations are the target audience in the oncology drugs market.