Anticancer Drugs Market: Global Industry Analysis And Forecast (2023-2029)

Anticancer Drugs Market size was valued at US$ 198.55 Bn. in 2022 and the total Anticancer Drugs Market revenue is expected to grow at 12% from 2023 to 2029, reaching nearly US$ 438.95 Bn.
Anticancer Drugs Market Overview:
Cancer is the third most fatal condition in the world, after cardiovascular, parasitic, and infectious diseases.Chemoprevention is the use of manufactured or naturally occurring chemicals in pharmacological interventions to potentially suppress or prevent carcinogenesis. Cancer treatment involves the use of radiation, surgery, and pharmaceuticals. Surgery is the primary line of defence against cancer in its early stages. Radiotherapy is typically utilised in close proximity to surgical procedures. The final one makes use of chemotherapy (CTX), which uses a wide range of drugs that have cytotoxic effects. Targeted therapy is a sort of cancer treatment that goes after the changes in cancer cells that encourage their division, development, and dissemination.To know about the Research Methodology :- Request Free Sample Report

Cancer immunotherapy is a type of treatment that helps the immune system fight the illness.Breast and prostate cancers that utilise hormones to grow are treated with hormone therapy to delay or stop their growth. The anticancer drugs stop cell division and proliferation while being less selective for cancer cells. Therefore, both malignant and healthy cells are eliminated by these drugs. Chemotherapy and anticancer medications stops the growth of cancer cells, thereby deactivating them. Anticancer medications slow the division of cancer cells, but normal cells are also impacted by the process.

Our research methodology started with gathering information on the main vendors' revenue through secondary research in order to estimate and forecast the market for unified monitoring. To divide the market into segments, by Drug Class (Targeted Therapy, Chemotherapy, Immunotherapy, Hormonal Therapy) by Indication (Breast Cancer, Lung Cancer, Stomach Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer Cervical Cancer, Kidney Cancer, Bladder Cancer, Other Cancers) vendors' offerings are taken into account. These segments were then confirmed through primary research by conducting in-depth interviews with important figures, including chief executive officers (CEOs), vice presidents (VPs), directors, and executives.

In order to estimate the market size, top-down and bottom-up methods are employed. Primary and secondary research are used to identify the major players in the Anticancer Drugs Market and to calculate their market revenues. In contrast to secondary research, which required examining the annual and financial reports of the leading manufacturers, primary research involved conducting interviews with major opinion leaders and business leaders in the industry, including CEOs and marketing executives. Abbott Laboratories, AbbVie, Amgen
,Astellas Pharma, AstraZeneca, Aurora Biophama is a few of the top significant competitors in the global anticancer drugs market For the duration of the forecast period, they are continually strategizing about mergers and acquisitions to increase their market shares and growth potential.

Covid-19 Impact:

In late December, the coronavirus (COVID-19) was found in the Chinese city of Wuhan's Hubei province. A virus called the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that spreads from person to person is the cause of the illness. Owing to international trade limitations on pharmaceutical items and chemicals, supply chains were interrupted. Additionally, COVID 19 is an infectious illness that causes flu-like symptoms like fever, coughing, and breathing difficulties.

The COVID-19 pandemic has a significant influence on the most important sections of the market for cancer treatments by interfering with clinical trials and patient access to medications. The pandemic has a direct impact on the availability of anticancer drugs for cancer patients. In addition to making it challenging to administer chemotherapy and some other treatments outside of a clinic, the spread of the coronavirus has decreased patients' willingness and ability to participate in clinical trials for new medications. One of the biggest blows to the anticancer drug market has been the interference of COVID-19 with research and development of new treatments. However, after the COVID-19 pandemic, this condition is expected to change.
Anticancer Drugs Market Dynamics:
Market Drivers:

Increased Cancer Prevalence supports market growth. After cardiovascular diseases, cancer is now the second biggest cause of death owing to an increase in its incidence rate. This phenomena is caused by environmental variables such cigarette use, altered dietary habits, urbanisation, and prolonged postreproductive lifespan. For instance, the World Health Organization (WHO) estimates that there will be 30 million new instances of cancer globally by 2040, up from 21 million in 2021. Therefore, it is expected that throughout the forecast period, the rising incidence of cancer increases demand for anticancers medications globally.

Furthermore, it is expected that in the forecast period, the global market benefit from the population's growing awareness of cancer. Strong drug pipeline present to promote growth opportunities The rate of advancement in cancer treatment is growing. Emerging from the research and development pipeline are a number of novel treatments that are frequently combined with other brand-new or current medications. A large number of pharmaceutical corporations are funding the development of new cancer treatments. For instance, Pfizer purchased Array BioPharma in June 2019 with the intention of growing its anticancer footprint and pipeline, starting with a melanoma combination medication that has been licenced and is currently undergoing testing for a type of metastatic colorectal cancer. This is expected to accelerate market growth, along with consumer desire for biosimilar and biologic products growing.

Market Restraints:

Adverse drug reactions, Strict Regulations, and Patent Expiration to hamper Market Growth Chemotherapy medications destroy cancer cells while harming healthy bodily cells as well. For the patients, this has a variety of negative side effects.

Bone marrow suppression, gastrointestinal issues, neuropathies, hair loss, lethargy, and skin issues are among of the most typical adverse effects. As a result, the market's growth is being adversely affected by severe side effects of oncology medications. Other factors that are preventing the global market from growing throughout the Forecast period include strict government regulations, expensive medication, and patent expiration.

Market Opportunities:

The rise in risk factors for cancer, such as industrialization, sedentary lifestyles, and exposure to carcinogens, as well as attractive reimbursements, are some of the major reasons expected to drive the market growth of the anticancer drug market.

The market for anticancer medications is growing significantly owing to rising awareness of early diagnosis and treatment. Other factors expected to help to the market growth of the anticancer drug market include the growing healthcare infrastructure, government efforts, and healthcare investments. In addition, rising out-of-pocket healthcare costs in both developing and developed economies, as well as the establishment of sizable cancer speciality hospitals, are expected to fuel the growth of the anticancer drug market. Another factor driving the global market for anti-cancer medications is the rising incidence of breast cancer and the improvements in survival rates.

Recent Trends:

Growing R&D Focus to Promote Uptake of Advanced Drug Therapies. Cancer patients are treated with the hopes of curing the illness, extending life, and enhancing quality of life. Immune cells are crucial to the development of tumours.

Consequently, encouraging immune responses against cancers is an appealing therapeutic and preventative approach. Therefore, leading market players are making investments in immunotherapy research and development to treat a variety of cancers. For instance, in March, the National Cancer Center of Japan and the Fujifilm Corporation jointly announced the start of a research effort for a novel cancer immunotherapy employing a liposome formulation. Owing to its success in providing effective treatment that improves patient outcomes, immunotherapy is more widely used nowadays. As a result, this is helping the market growth.
Anticancer Drugs Market Segment Analysis:
Based on Drug Class, The Targeted therapy segment is expected to grow at the highest CAGR during the forecast period. The market offers cytotoxic pharmaceuticals, targeted drugs, hormonal drugs, and other drugs based on drug class. The intended In 2022, the pharmaceuticals market category dominated the global market for anticancer drugs. Either the chemotherapy. While limiting unintended side effects on healthy cells, focused therapy targets the disease.

This causes it to be more widely used than the other medications on the market, which results in its domination. Additionally, the increased number of product approvals and pipeline prospects for this category are expected to boost the growth of the market during the expected time frame. For instance, Pfizer introduced three anticancer products in January 2020.Treatments with monoclonal antibodies called rituximab-pwr (Ruxience), bevacizumab-bvzr (Zirabev), and market for trastuzumab-qyyp (Trazimera).

Based on Indication, The Breast Cancer segment is expected to grow at the highest CAGR during the forecast period. The market for anticancer drugs are divided into categories for breast cancer, lung cancer, stomach cancer, colorectal cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer and others based on indication.

Breast cancer is becoming more common, awareness is rising, there are more breast cancer therapies being introduced, and major R&D investments by leading market participants are some of the factors driving its quicker growth throughout the forecast period. For instance, Emcure Pharmaceuticals introduced the generic Eribilin, a therapy for metastatic breast cancer, in India in April 2019. On the other hand, the others category, which includes many other cancer kinds like bladder cancer, kidney cancer, thyroid cancer, uterine cancer, pancreatic cancer, lymphoma, etc., accounts for the largest proportion in 2022.
Anticancer Drugs Market Regional Insights:
North America accounted as a largest market for the anticancer drugs market. Owing to a large patient population, the presence of significant key players, the ease with which drugs are made available, the strength of the healthcare infrastructure, the favourable reimbursement policies in the healthcare system, the higher number of research, development, and innovation activities, and the higher adoption of advanced therapeutics are all factors that are expected to maintain its dominance from 2023 to 2029.

However, due to an increase in the number of people with cancer and a rise in awareness of various malignancies, Asia-Pacific is expected to grow at the highest CAGR. Owing to growing demand, the global market for anticancer medications has become more attractive owing to an increase in disease prevalence in emerging regions. Due to unmet demands and the high mortality rates from cancer in the region, China and India are the two countries driving a substantial revenue market.

The objective of the report is to present a comprehensive analysis of the Anticancer Drugs Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Anticancer Drugs Market dynamics, structure by analyzing the market segments and project the Anticancer Drugs Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Anticancer Drugs Market make the report investor’s guide.
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Anticancer Drugs Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 198.55 Bn.


Forecast Period 2023 to 2029 CAGR:
12%
Market Size in 2029:
US $ 438.95 Bn.


 Segments Covered:
by Drug Class
Targeted Therapy
Chemotherapy
Immunotherapy
Hormonal Therapy


by Indication
Breast Cancer
Lung Cancer
Stomach Cancer
Colorectal Cancer
Prostate Cancer
Liver Cancer
Esophagus Cancer
Cervical Cancer
Kidney Cancer
Bladder Cancer
Other Cancers



Anticancer Drugs Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Anticancer Drugs Market Key Players
1.Abbott Laboratories
2.AbbVie
3.Amgen
4.Astellas Pharma
5.AstraZeneca
6.Aurora Biophama
7.F. Hoffmann-La Roche AG
8.Novartis AG
9.Boehringer Ingelheim
10.Bristol-Myers Squibb Company
11.Eli Lilly
12.Fresenius Kabi
13.Gilead
14.GlaxoSmithKline (GSK)
15.Grifols
16.Merck & Co., Inc.
17.Johnson & Johnson
18.Jounce Therapeutics
19.Pfizer Inc
20.Celgene Corporation

FAQs:

1. Which is the potential market for the Anticancer Drugs Market in terms of the region?
Ans. In North America region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Anticancer Drugs Markets in educational institutes

3. What is expected to drive the growth of the Anticancer Drugs Market in the forecast period?
Ans. A major driver in the Anticancer Drugs Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic

4. What is the projected market size & growth rate of the Anticancer Drugs Market?
Ans. Anticancer Drugs Market size was valued at US$ 198.55 Billion in 2022 and the total Anticancer Drugs Market revenue is expected to grow at 12% through 2023 to 2029, reaching nearly US$ 438.95 Billion.

5. What segments are covered in the Anticancer Drugs Market report?
Ans. The segments covered are Drug Class, Indication, and Region.