Global Oncology/Cancer Drugs Market To Grow At CAGR of 7.6% During 2020 To 2028
Quince Market Insights
6 min read
Oncology/Cancer Drugs Market by Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, and Hormonal Therapy) and Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, and Others), End User (Hospitals, Clinics, Others), Distribution Channel (Retail, Third Party)-Market Size & Forecasting (2016-2028)
Pune, India, Aug. 29, 2020 (GLOBE NEWSWIRE) -- The global oncology market is valued at USD 100.0 billion in 2020 and is anticipated to grow with a CAGR of 7.6% during the forecast period from 2020 to 2028. Increasing incidence of cancer will create lucrative opportunities in the market for key players.
Cancer is a group of diseases associated with abnormal cell growth with the potential to plague or spread to other parts of the body. Major types of cancers include carcinomas, sarcomas, lymphomas, and leukemia. Sarcomas begin in the connective tissue such as muscle or bones (Ewing sarcoma). Soft-tissue sarcomas can begin in fatty tissues.
As per the National Cancer Institute in 2018, around 1,735,350 new cases of cancer were diagnosed in the United States of America. Compared to the past 5 years, 57 newly launched oncology therapeutics have received approval for 89 indications recently. Some of these drugs can treat multiple types of tumors. Increasing cases of cancer have created lucrative opportunities for the global oncology/cancer drugs market.
Global Oncology/Cancer Drugs Market, by Drug Class Type
In terms of drug class type, the market is segmented into chemotherapy, targeted therapy, immunotherapy, and hormonal therapy. The targeted therapy held significant revenue in 2020 and is expected to grow with a moderate CAGR during the forecast period. This is due to the ability of targeted therapies to kill only malignant cells, their superior efficacy, and advanced survival rates related with their use. The immunotherapy segment is expected to indicate fastest growth during the forecast period.
Global Oncology/Cancer Drugs Market, by Indication
In terms of indications, the market is segmented into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer, and others. The prostate cancer segment is expected to grow with a considerable CAGR during the analysis period. This is due to the increasing geriatric population, which is raising the risk of this type cancer.
Global Oncology/Cancer Drugs Market, by End User
In terms of end-users, the market is segmented into hospitals, clinics, and others. Hospitals have emerged as one of the major segments in the global oncology market. The increasing number of cancer patients in hospitals is also raising the demand for this market.
Global Oncology/Cancer Drugs Market, by Distribution Channel
In terms of distribution channels, the market is segmented into retail and third party. Retail is expected to grow with a significant growth rate due to the easily availability of medicines and also because patients can get advice about the prescribed medicines.
Global Oncology/Cancer Drugs Market, by Region:
In terms of region, the North American region has captured the largest market for global oncology in 2020 and is anticipated to remain dominant till the forecast period. The major contributing factors are growing chronic diseases, growing awareness, and increasing R&D investments in the oncology sector.
Some Major Findings of the Oncology Market Report Include:
Global oncology market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
In-depth global oncology market analysis by drug class type, indication, end-user, distribution channel and regions with an analysis of trend-based insights and factors
Profiles of the major market players operating in the global oncology market, which AbbVie Inc., AstraZeneca PLC, Astellas Pharma Inc., Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche ltd., Merck & Co., Inc., Johnson & Johnson (Janssen Global Services, LLC,), Novartis AG, and Pfizer Inc.
Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years.
Key impact factor analysis across regions that includes clinical pipeline analysis, along with the drivers, restrains, opportunities, and challenges that are prevailing in the global oncology market.
Impact analysis of COVID-19 on the oncology market.
Browse key industry insights spread across 119 pages with 102market data tables and 68figures & charts from the report, “Oncology/Cancer Drugs Market by Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, and Hormonal Therapy) and Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, and Others), End User (Hospitals, Clinics, Others), Distribution Channel (Retail, Third Party),By Region (North America, Europe, Asia Pacific, Middle East Africa, and South America) -Market Size & Forecasting (2016-2028)”in-depth analysis along with the table of contents (ToC).
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Quince Market Insights is a global market research and consulting company publishing syndicate studies as well as consulting assignments pertaining to markets that promise high growth opportunities in strategic future. We are dedicated team of analysts with strong base in technical expertise as well as thorough understanding of the market dynamics. Some of key areas expertise includes chemicals, advanced materials, construction, mining, food & agriculture, automotive, machines & equipment, and others. We analyze emerging trends in relatively nascent markets that promise high growth opportunities in future. We focus towards precision research practices that provide accurate market estimations and forecasts. This helps our clients to make proper estimations with regards to demand analysis, regional growth, major competitors, and dynamics of the market.
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