Promising drugs in late stage of pipeline with high potential of emerging economies are further expected to provide lucrative opportunities for market expansion

PORTLAND, OREGON, UNITED STATES, September 13, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Global Oncology/Cancer Drugs Market by Drug Class Type, Indication, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030," The oncology drugs market size was valued at $135,494.17 million in 2020, and is projected to reach $274,400.63 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.

♦ 𝐅𝐨𝐫 𝐚 𝐟𝐚𝐢𝐫 𝐩𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞 𝐚𝐧𝐝 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐠𝐞𝐭 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/121

The rise in cancer incidence, the rise in the global geriatric population, and the rise in public spending on health care have driven the global market for cancer/cancer drugs. However, the negative effects associated with the use of anticancer drugs hinder market growth. Conversely, the increase in the number of drugs under development and the high growth potential in untapped emerging economies should open up new opportunities for market players in the future.

Cancer is caused when the cells present in the body grow at an uncontrolled rate leading to the formation of a tumor. Cancer has different stages based on its progression. Metastasis is the final stage of the disease, which is marked by the invasion of tumor into others parts of body. The management of cancer in patients requires the use of different drugs such as hormonal therapy, immunotherapy, targeted therapy, and chemotherapy.

By type, the targeted therapy segment had the largest share in 2020, accounting for more than half of the market. However, the immunotherapy segment is expected to exhibit the highest CAGR of 8.7% over the forecast period.

Coronavirus (COVID-19) was discovered in late December in the Hubei province of Wuhan city in China. The disease is caused by a virus, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from person to person. supply chains have been disrupted due to restrictions on the trade of pharmaceutical ingredients and products between countries. Additionally, COVID 19 is an infectious disease with flu-like symptoms, including fever, cough, and shortness of breath. In its disruption of clinical trials and drug delivery to patients, the COVID-19 pandemic has hit the most crucial areas of the cancer / cancer drug market. The pandemic has directly affected the supply of cancer drugs to cancer patients; Not only is it difficult to administer chemotherapy and other treatments outside of a clinic, but the spread of the coronavirus has reduced patients' willingness and ability to access not only treatment, but also the testing of new drugs. COVID-19's interference with research and development of new treatments is one of the biggest hits the anticancer drug market has received. However, this situation is expected to change after the COVID-19 pandemic in the coming years.

♦ 𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲: https://www.alliedmarketresearch.com/purchase-enquiry/121

The report offers an analysis of the global Cancer / Cancer Drugs market across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The North American market captured the largest share in 2020, accounting for nearly half of the market. However, the Asia Pacific market is expected to show the highest CAGR of 9.0% during the forecast period.

Major Key Players -

The global oncology/cancer drugs market report includes an in-depth analysis of the prime market players such as
AbbVie Inc., Amgen,
Astellas Pharma Inc.,
AstraZeneca PLC.,
Bristol-Myers Squibb Company,
F. Hoffmann-La Roche Ltd.,
Johnson & Johnson (Janssen Global Services, LLC,),
Merck & Co., Inc.,
Novartis AG, and
Pfizer Inc.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 accounted for the largest share of revenue in 2020, and is anticipated to maintain its dominance from 2021 to 2030, owing to presence of large patient population, strong presence of key players, ease of drug availability, well developed healthcare infrastructure, favorable reimbursement policies in healthcare system, higher number of research, development, & innovation activities and higher adoption of advanced therapeutics. However, Asia-Pacific is expected to witness growth at the highest CAGR, owing to increase in number of cancer affected population and rise in awareness related to different cancers.

♦ 𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/5e8d7013b65055e0b9e086b8e0a9c8d2

Key findings of the study -

Based on the type of drug class, the targeted therapy segment held the largest share of the cancer drug market in 2020 and is expected to remain dominant throughout the forecast period.
On an indicative basis, the breast cancer segment held the largest market share in 2020 and is expected to remain dominant throughout the forecast period. Asia-Pacific is expected to grow at the highest rate during the analysis period, followed by LAMEA.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with vario research data tables and confirms utmost accuracy in our market forecasting. Each and ever us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
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