The global Anti-Neoplastic Agents Market is on the verge of witnessing a drastic In Upcoming Years. The digital renaissance is dictating the terms for the industry. AI-powered data core is being used for delivering insights. Also, the virtual workforce is being developed with a transfer of digital skills, that too, from a plethora of innovative ecosystems and industries. Conversational AI is being deployed for helping the end-users with timely feedback. This trend is bound to take the overall industry at a greater stride in the upcoming period.
The second major cause of death in U.S. is Cancer after cardiovascular diseases and is expected to ascend becoming the leading cause of death in next few years. According to Center for Disease Control and Prevention (CDC), malignant neoplasms accounted for 15% of deaths worldwide in 2012 with 19.3 Mn new cases of cancer are expected to be diagnosed by 2025.
The increasing number is a major challenge to physicians and researchers to fulfill the unmet needs in treatment of malignant neoplasms. Anti-neoplastic agents are used prominently as a first line therapy for alternative cancer treatment as well as in combination with surgery or radiation therapy.
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Plenty of anti-neoplastic agents are available commercially for the treatment of different types of cancers including Oncotrex, Gleevec, Neosar, Cytarine, Leukeran etc. Several new anti-neoplastic agents are in clinical trials such as Oncofetal Ag (phase 1), Panobinostat (Phase 2), Volasertib (phase 2), Bortezomib (phase 4) etc. which are expected to launch in next 5-10 years.
Factors such as growing incidence of cancer across the globe and demand for cost-effective treatment options are believed to play crucial role for the growth of global anti-neoplastic agents market.
Rapid innovation in the field of personalized medicine presents a huge opportunity to manufacturers of anti-neoplastic agents. However, heterogeneous nature of cancer and high development cost of neoplastic agents are the factors limiting the growth of global anti-neoplastic agents market.
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Market Segmentation
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Increasing investment by multinational companies in cancer research owing to increasing prevalence of cancer is expected to boost the global market for anti-neoplastic agents during the forecast period. Based on product type, anti-neoplastic agents are classified as chemotherapeutic agents, biological or immunotherapeutic agents and personalized medicine.
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Chemotherapeutic agents segment is foreseen to lead the market owing to easy availability of drugs and immunotherapeutic agents segment is expected grow rapidly due to increasing acceptance of biological therapy owing to lesser side effects.
Hospital end user segment is anticipated to contribute the maximum share among end users. As per the statistics given by The Healthcare Cost and Utilization Project (H-CUP), there were 4.7 Mn hospitalizations related to cancer in U.S. in year 2009 and about 6% of adult inpatient hospital cost was generated by hospitalization of cancer patients.
North America will continue to dominate the global anti-neoplastic agents market for due to high prevalence of malignant neoplasm. Europe is expected to hold second largest market share in global anti-neoplastic agents market. In 2013, as per Cancer Research UK, 605 people per 100,000 general population were diagnosed with cancer.
Some of the major players in global anti-neoplastic agents market include Hoffmann-La Roche Ltd., Amgen Inc., Bristol-Myers Squibb Company, Baxter Healthcare Corporation, Boehringer Ingelheim GmbH, Aspen Global Inc., Bayer AG, Teva pharmaceutical Industries Ltd., Johnson & Johnson Pvt. Ltd., Merc & Co., Inc., Pfize Inc., Accord Healthcare, Inc., Genentech, Inc., Lundbeck LLC, AbbVie Inc. and others.
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