Anticancer Drug Market Report
Anticancer Drug Market Trends, Dynamics & Market Insights See less
Anticancer Drug Market Trends, Dynamics & Market Insights
Anticancer Drug Market, By Type (Targeted Drugs, Cytotoxic Drugs, Hormonal Drugs), Application (Immunotherapy, Targeted Therapy, Chemotherapy, Hormonal Therapy, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies), and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Anticancer Drug 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.
Anticancer Drug Market, By Type (Targeted Drugs, Cytotoxic Drugs, Hormonal Drugs), Application (Immunotherapy, Targeted Therapy, Chemotherapy, Hormonal Therapy, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies), and Region ...
The Anticancer Drug Market is projected to grow from USD 141.6 billion in 2020 to USD 215.5 billion by 2026 at a CAGR of around 7.4% during the forecast period.
Cancer is a type of disease associated with abnormal cell growth with the potential to spread to other parts of the body. The common type of cancers includes carcinomas, lymphomas, sarcomas, and leukemia. Anticancer drugs are designed to treat malignancies. Cancer is characterized by the rapid explosion of abnormal cells beyond their boundaries and invading adjoining organs resulting ultimately in death.
Key players operating in the Anticancer Drug market are-
The growth of the anticancer drug market is primarily driven by the rising incidence of different types of cancers, strong technological advancements, and rising concern over high death rates due to cancer. In addition to this, the introduction of new therapies and drugs for cancer and government support to enhance the healthcare facilities are likely to drive the market growth at a significant rate during the review period. However, strict government regulations and the high cost of cancer treatments are likely to hinder the industry's growth.
By application, the anticancer drug market has been bifurcated into immunotherapy, targeted therapy, chemotherapy, hormonal therapy, and others. The chemotherapy segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.
By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to rising healthcare expenditure, the presence of a large patient population, and early adoption of advanced drugs coupled with the presence of key market players such as Celgene Corporation (US) and Pfizer Inc. (US). The market growth in Asia-Pacific is expected to be driven by the rising number of cancer patients coupled with increasing investment in R&D activities to develop advanced cancer treatment solutions.
The COVID-19 outbreak adversely affected the market growth of the anticancer drugs industry due to the shift of medical treatment from cancer to rising coronavirus-affected patients. Patients suffering from cancer were asked to postpone their surgery due to a rapid surge in COVID-19 cases across the globe. Additionally, people having chronic cancers such as blood and lung cancer were at risk of becoming severely ill.
Here is the list of the group of customers that the anticancer drugs market hopes to have the greatest opportunity to convert-
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The anticancer drug market is expected to witness an impressive growth of 7.4% CAGR in the coming years.
F. Hoffmann-La Roche AG (Switzerland), Celgene Corporation (US), Pfizer Inc. (US), Bristol Myers Squibb (US), Novartis International AG (Switzerland), AstraZeneca plc (UK), Teva Pharmaceutical Industries Ltd (Israel), Bayer AG (Germany) and GlaxoSmithKline plc (UK) are among the key players in the anticancer drug market.
The anticancer drug market size is expected to witness an impressive growth of USD 215.5 billion in the foreseeable future.
The chemotherapy segment is expected to register significant growth in the anticancer drug market in the coming years.
North America accounted for the largest share in the anticancer drug market in 2020.
Anticancer drug distributors, Anticancer drug suppliers, Anticancer drug manufacturers, Logistics organizations, Government bodies are the target audience in the anticancer drug market.