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    Anticancer Drug Market Report

    Anticancer Drug Market Report
    Report code - SR1564 Delivery - 2 Weeks
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    Anticancer Drug Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Anticancer Drug Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Anticancer Drug Market

    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.

    Market Insights

    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.

    Figure: Anticancer Drug Market Size, 2020-2026 (USD Billion)

    Anticancer-Drugs-Market-Forecast

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    What is cancer?

    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

    Key players operating in the Anticancer Drug market are-

    • 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)
    • GlaxoSmithKline plc (UK)

    Market Dynamics

    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.

    Segments' Analysis

    Application Trends

    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.

    Regional Trends

    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.

    COVID-19 Impact on Anticancer Drug Market

    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. 

    Critical Questions Answered in the Report

    • What are the key trends in the Anticancer Drug market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the Anticancer Drug market?
    • What are the key strategies adopted by the major vendors to lead in the Anticancer Drug market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the anticancer drugs market hopes to have the greatest opportunity to convert-

    • Anticancer drug distributors
    • Anticancer drug suppliers
    • Anticancer drug manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    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.

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