The cancer therapeutic drugs market is projected to grow at a CAGR of 6.87% to reach US$223.141 billion by 2024 from US$149.750 billion in 2018. The cancer therapeutic drugs market is expected to grow at a fast pace during the forecast period due to the growing incidence of cancers worldwide. Geographically, North America is expected to hold the highest market share owing to the highest health spending of the United States among all the developed regions, in addition to having a high cancer prevalence in the country. Growing adoption of unhealthy living conditions is further emanating the market growth during the forecast period. Furthermore, growing cancer drug spending is driving the growth of the global cancer therapeutics market during the forecast period. The growing number of clinical trials have improved the chances of new innovations for targeted cancer treatment, emanating the market growth during the forecast period and beyond. Growing health awareness among people worldwide will lead to early diagnosis, further leading to the treatment of cancer, when detected at an early stage, thus, propelling the market growth in the forecast period.
DRIVERS
Rising cancer incidences worldwide
Growing cancer drug spending
Increasing health awareness among people worldwide
RESTRAINTS
The high cost of cancer treatment
INDUSTRY UPDATE
On 17th June 2019, Pfizer announced that it has entered into a definitive merger agreement under which it will acquire Array Pharma.
On 31st August 2018, Servier Pharmaceuticals announced that it has completed the acquisition of Shire’s oncology business.
Major industry players profiled as part of the report are Pfizer Inc., Celgene Corporation, F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Novartis Pharmaceuticals Corporation, Janssen Global Services, LLC, Eli Lilly and Company, Merck & Co., Inc., and Astellas Pharma Inc.
Segmentation
The cancer therapeutic drugs market has been analyzed through the following segments:
By Indication
Skin Cancer
Lung Cancer
Breast Cancer
Prostate Cancer
Others
By Product Type
Revlimid
Avastin
Herceptin
Rituxan
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
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