The Oncology Drugs Market is anticipated to achieve a market size of US$ 202.9 billion in 2022 and grow at a CAGR of 5.5% to reach US$ 347.3 billion by the end of 2032. Persistence Market Research found that in 2021, sales of oncology medications represented a 12.7% revenue share of the market for pharmaceutical drug formulations worldwide.
A revised research on the market for generic cancer medications was recently released by Persistence Market Research. Along with complete information about the market structure, the research gives detailed valuation on key market characteristics, such as the drivers, trends, opportunities, and restraints. This research report offers unique data and statistics on the projected growth of the worldwide generic oncology medicine industry from 2021 to 2031.
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The study by Persistence Industry Research provides a thorough explanation of key market backdrop indicators such as value chain analysis, supplier chain, compound annual growth rate (CAGR), and year-over-year (Y-o-Y) market growth. The reader can use this information to better comprehend the market predictions for generic cancer medications in terms of their quantitative development during the forecast period.
Research Techniques
In the research report from Persistence Market Research, in-depth analysis of the growth of the worldwide generic oncology pharmaceuticals market is conducted in order to draw conclusions about the market’s potential future drivers of growth. Analysts use both secondary and primary research in this research process to guarantee the accuracy and dependability of the conclusions. The oncology drugs market is anticipated to experience tremendous growth prospects due to the increased focus on the research and development of treatments and therapies for lung, colorectal, multiple myeloma, and prostate cancer.
Furthermore, it is anticipated that partnerships between major players in the pharmaceutical sector and funding initiatives and reimbursement regulations to address the unmet diagnostic and therapeutic needs of patients with life-threatening diseases such as cancer will foster market expansion. Additionally, the pipeline for cancer treatment will rise as a result of pharmaceutical companie’s growing interest in the creation of medications for various malignancies.
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Companies
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- GlaxoSmithKline plc.
- Astrazeneca
- Merck KGaA
- Johnson & Johnson
- Pfizer, Inc.
- Bayer AG
- Sanofi S.A.
- Boehringer Ingelheim
- Bausch Health Companies Inc.
- Galderma SA
- Novartis AG (Alcon)
- Arbor Pharmaceuticals
- Perrigo Company Plc.
- Allergan
- Lupin
- Teva pharmaceuticals
- Ultragenyx Pharmaceutical Inc
- Zydus Cadila Healthcare Ltd.
- Glenmark Pharmaceuticals
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Key Segments in Oncology Drugs Market Industry Research
By Drug Class:
Chemotherapy
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- Alkylating Agents
- Antimetabolites
- Anti-tumour Antibiotics
- Topoisomerase Inhibitors
- Mitotic Inhibitors
- Others
Targeted Therapy
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- Monoclonal Antibodies
- Small molecule Inhibitors
Immunotherapy
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- Immune Checkpoint Inhibitors.
- Cell Therapy and Gene Therapy
- Oncolytic Virus Therapy
- Immune System Modulators
- Others
Hormonal Therapy
By Indication:
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- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Multiple Myeloma
- Colorectal Cancer
- Non-Hodgkin’s Lymphoma
- Kidney Cancer
- Chronic lymphocytic Leukaemia
- Melanoma
- Others
By Route of Administration:
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- Oral
- Injectable
By Distribution Channel:
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- Hospital Pharmacies
- Retail Pharmacies
- Others
By Region:
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- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Country-wise Insights
Why is the U.S. a Lucrative Market for Oncology Drug Manufacturers?
“New Oncology Treatments Being Approved in the Country”
The U.S. accounted for 91.6% share of the North American oncology drugs market in 2021. The U.S. oncology drugs market is anticipated to grow as more novel active substances for the treatment of cancer are approved and released.
For example, in 2021, 22 novel active substances for the treatment of solid tumours and haematological cancers were introduced, including two diagnostic agents.
A few other factors that will support regional growth include favourable R&D activities by industry participants and technological advancements in cancer diagnosis and treatment techniques.
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