Global Oncology Drugs Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Oncology Drugs Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global oncology drugs market report has been segmented on the basis of product type, cancer type, end user, and region.

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Global Oncology Drugs Market: Overview

Cancer is a class of chronic disease that is characterized by uncontrolled growth of cells. Lung cancer, breast cancer, colorectal cancer, thyroid cancer, and uterine cancer are some common types of cancer. There are three types of drugs used for treating cancer, which are based on their mechanism of action – cytotoxic drugs, targeted drugs, and hormonal drugs.

Global Oncology Drugs Market: Dynamics

Increasing incidence of various types of cancers is a key factor expected to drive growth of the global market over the forecast period. In addition, increasing drug approvals and robust pipeline for new therapeutic agents are some other factors expected to further fuel growth of the target market over the forecast period.

Furthermore, rising technological advancements, increasing need for research and development activities for cancer treatment, and rising concerns towards high death rates due to cancer are some other factors expected to boost growth of the global market in the near future. Moreover, increasing government support for improving healthcare infrastructure in developing countries is expected to propel growth of the target market over the forecast period.

However, high cost of cancer drugs development process and increasing adoption of alternative treatment options such as surgery and radiation therapy are major factors expected to restrain growth of the global market over the forecast period.

Ongoing development of pipeline oncology products and expiry of key patents are expected to create potential revenue opportunities for players operating in the target market over the forecast period. In addition, several leading oncology drugs are expected to lose patent during the year 2018-2020, which is turn expected to create an opportunity for players in the global market. For instance, Avastin, which is a humanized monoclonal antibody product for Colorectal, lung, breast, glioblastoma, kidney, and ovarian cancer by Roche Holding AG, which is going off patent by July 2019 in the US.

Global Oncology Drugs Market: Segment Analysis

On the basis of cancer type, the lung cancer segment is expected to register significant share in terms of revenue over the forecast period, owing to high prevalence of lung cancer and promising pipeline for non-small cell lung cancer (NSCLC) drugs in the near future.

Global Oncology Drugs Market: Regional Analysis

The market in North America is expected to dominate in the global oncology drug market over the forecast period, owing to increasing affordability of cancer treatment, improved healthcare infrastructure, and high disposable income across various countries in the region. The market in Europe is expected to register significant share in terms of revenue over the forecast period, owing to increasing manufacturers’ focus towards development of biologics or immunotherapeutic. In addition, the markets in Asia Pacific and Latin America are expected to register fastest growth rate over the forecast period, owing to increasing incidence of various types of cancers in developing countries in these regions.

Global Oncology Drugs Market Segmentation:

Segmentation by product type:

• Cytotoxic Drugs
• Targeted Drugs
• Hormonal Drugs

Segmentation by cancer type:

• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Blood Cancer
• Bladder Cancer
• Others

Segmentation by end user:

• Hospitals Pharmacies
• Retail Pharmacies
• Online Pharmacies

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa