Global Cancer/Oncology Drugs Market Experiences Growth Spurts: Forecast to grow at a CAGR of 9.5% through 2028: Zion Market Research

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NEW YORK, February 22, 2022 /PRNewswire/ — The global cancer drug market has been capitalized at nearly , according to analysts at Zion Market Research $155.12 billion in 2020 and is expected to generate an income of almost $292.80 billion to 2028 and develops at a CAGR of almost 9.5% from 2021 to 2028.

Read the market research report “Cancer Drugs Market by Therapy (Immunotherapy, Targeted Therapy, Chemotherapy, Hormone Therapy and Others), by Cancer Type (for Breast Cancer, Blood Cancer, Gastrointestinal Cancer, Prostate Cancer, Skin Cancer, Lung Cancer and Other): Global Industry Perspective, Comprehensive Analysis and Forecast, 2021-2028.”

The cancer drug market has collapsed due to the various closures and government orders to contain the spread of COVID 19. The entire pharmaceutical industry came to a halt during the strict lockdown as all attention drastically shifted to COVID 19. The restrictions imposed by different nations to contain COVID had halted the supply chains and exchange of important medicinal ingredients between countries, leading to a collapse of the market. The pharmaceutical industry has now put all investments and research into the focus of COVID19. Chemotherapy in the cancer industry depends on R&D spending, but post-pandemic spending on COVID has shifted.

Increasing research and development on targeted and biological drug treatments to cure cancer to positively impact the anti-cancer drug market:

“The global anti-cancer drug market is being greatly boosted by the increase in target diseases such as breast cancer, lung cancer and cervical cancer around the world,” according to analysts at Zion Market Research. Other important growth drivers are the increasing research and development of targeted and biologic drug treatments to cure cancer. On the other hand, strict regulatory guidelines and the high cost of drug development coupled with the possibility of failure are the main constraints that could hamper the development of the cancer drug market.

Still, the huge spending on cancer drug research coupled with the rising goal of personalized medicine around the world is likely to open up new growth opportunities for the anti-cancer drug market in the coming years. Increasing elderly population in both developed and developing countries is also one of the main reasons behind the development of the anti-cancer drug market. In addition, various mergers and acquisitions of market participants will strengthen the anti-cancer drug market. For example in June 2018, Bayer successfully completed the acquisition of Monsanto. Likewise in May 2018Boehringer Ingelheim (the second largest animal health company in the world) increased its investments in China by expanding the Asia Veterinary Center for Research and Development (Research and Development) to improve its innovation and research capacity.

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North America is likely to remain the dominant area in the global anti-cancer drug market for the years to come:

Europe, North America, Latin America, Asia Pacificand the middle East & Africa are major regional areas in the global anti-cancer drug market. North America should remain the dominant area in the years to come. The need for cancer drugs was the top priority North America especially in the US Therefore Asia Pacific is likely to be the moderately developing area in the cancer drug market in the coming years. In addition, the Latin America and middle East & Africa should also develop moderately in the market for cancer drugs in the coming years.

Report scope:

report attribute

details

Market size value in 2020

$155.12 billion

Sales forecast 2028

$292.80 billion

growth rate

CAGR of almost 9.5% 2021-2028

base year

2021

historical years

2016 – 2020

Expected years

2021 – 2028

Covered Segments

By product type, application and end use

Forecast Units

Value (Billion USD) and Volume (Units)

Quantitative Units

Revenue in USD million/Billion and CAGR from 2021 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa and Rest of World

Countries Covered

USA, Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others

company covered

GlaxoSmithKline, Bayer, Sanofi, Novartis, Amgen, Pfizer, Bristol-Myers Squibb, Merck, Ariad Pharmaceuticals, Celgene Corporation, Hoffmann-La Roche Ltd, Eli Lilly, Johnson and Johnson, Boehringer Ingelheim GmbH and Teva Pharmaceuticals

report coverage

Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments and Regions, Company Market Share Analysis, and COVID-19 Impact Analysis.

customization area

Take advantage of customized purchasing options to meet your exact research needs.

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The Cancer Drugs Market is segmented as follows:

Cancer Drugs Market: By Cancer Therapy Outlook (2021-2028)

  • immunotherapy
  • Targeted Therapy
  • chemotherapy
  • Hormone therapy

Cancer Drugs Market: Outlook by Cancer Type (2021-2028)

  • breast cancer
  • blood cancer
  • Gastrointestinal Cancer
  • prostate cancer
  • skin cancer
  • lung cancer

Cancer Drugs Market: Outlook by Region (2021-2028)

North America

Europe

  • France
  • The United Kingdom
  • Spain
  • Germany
  • Italy
  • the rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • the rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • the rest of Latin America

middle East & Africa

  • GCC
  • South Africa
  • the rest of middle East & Africa

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List of Major Players of Cancer Drugs Market:

  • GlaxoSmithKline
  • Bayer
  • Sanofi
  • Novartis
  • amgen
  • Pfizer
  • bristolMyers Squibb
  • note
  • Ariad Pharma
  • Celgene Corporation
  • Hoffmann-La Roche Ltd
  • Eli Lilli
  • Johnson and Johnson
  • Boehringer Ingelheim GmbH
  • Teva Pharmaceuticals
  • Other

Press Release for the Cancer Drugs Market: https://www.zionmarketresearch.com/news/global-cancer-drugs-market

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