Press Release

Global Oncology Drugs Market Size, Future Growth, Share, Supply, Demand, Segments and Forecast 2020-2027

The global ‘oncology drugs market size’ is expected to reach USD 394.24 billion by 2027, exhibiting a CAGR of 11.6% during the forecast period. The growing prevalence of cancer around the world will spur opportunities for this market during the forecast period, states Fortune Business Insights, in a report, titled “Oncology Drugs Market Size, Share &COVID-19 Impact Analysis, By Drugs Class (Cytotoxic Drugs, Targeted Drugs, Hormonal Drugs, and Others), By Therapy (Chemotherapy, Targeted Therapy, and Immunotherapy), By Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, and Others), By Dosage Form (Solid, Liquid, and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), and Regional Forecast, 2020-2027.” The market size stood at USD 141.33 billion in 2019.

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Regional Analysis:

Rising Prevalence to Cancer to Influence Market in North America

The market size in North America is expected to witness a rapid growth rate during the forecast period. The dominance in the region is attributed to the growing prevalence of cancer in the U.S. As per the National Cancer Institute, in 2020, approximately 1.8 million people will be diagnosed with cancer in the U.S. The recent product launches will aid the expansion of the market in the region. Europe is predicted to exhibit a stellar growth rate during the forecast period owing to the growing cancer burden in countries such as U.K., Germany, and France. The market in Asia Pacific is predicted to rise tremendously during the forecast period due to the rising awareness among the population regarding cancer.

The oncology drugs market highlights:

  • An extensivestudy of regions
  • Forecast value of the market
  • Detailed analysis ofthe segments
  • COVID-19 effect on the market
  • Ongoing clinical trials

An Overview of the Impact of COVID-19 on this Market :

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.

Positive Impact on Oncology Drugs Market Growth During COVID-19

The outbreak of COVID-19 has had a positive impact on the oncology drugs market globally. Certain market segments have witnessed a growth in demand for drugs with respect to the COVID-19 emergency. Panic buying of medications has been witnessed among the cancer patients amid lockdown. The pharmaceutical companies involved in this market have significantly improved their supply chain management, enhanced the capabilities of their R&D, and invested more their manufacturing management and quality control. For instance, according to the quarterly reports of 2020 of Roche, their global supply chain of medicines and tests remain intact and their pharmaceutical division sales increased by 7% as compared to the prior year.

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Market Driver:

Surging Pharmaceutical Industry to Contribute Colossal Development

The ongoing technological advancement in the field of pharmacy is expected to create opportunities for the market during the forecast period. The clinical trials and various drugs in the pipeline can further facilitate the healthy growth of the industry. The growing cases of numerous types of cancer, such as lung cancer, skin cancer, prostate cancer, colon cancer, breast cancer, and others will spur demand for oncology drugs, thus enhancing market growth. According to the World Health Organization (WHO), cancer is a growing burden and the number of new cancer cases is going to rise from 18.1 million in 2018 to 29.4 million by 2040. Moreover, product launches and approvals are expected to have a tremendous impact on the market.

Key Development:

April 2019: Sun Pharmaceutical Industries announced the release of INFUGEM injection, which will ve used for the treatment of cancer in the US.

The Report Lists the Main Companies in the Market:

  • Hoffmann-La Roche Ltd (Basel, Switzerland)
  • Genentech, Inc. (California, United States)
  • Novartis AG (Basel, Switzerland)
  • Pfizer Inc. (New York, United States)
  • Bristol-Myers Squibb Company (New York, United States)
  • GlaxoSmithKline plc. (Brentford, United Kingdom)
  • Eli Lilly and Company (Indiana, United States)
  • AstraZeneca (Cambridge, United Kingdom)
  • Sanofi (Paris, France)
  • Bayer AG (Leverkusen, Germany)
  • Other Players

Positive Impact on Oncology Drugs Market Growth During COVID-19

The outbreak of COVID-19 has had a positive impact on the oncology drugs market globally. Certain market segments have witnessed a growth in demand for drugs with respect to the COVID-19 emergency. Panic buying of medications has been witnessed among the cancer patients amid lockdown. The pharmaceutical companies involved in this market have significantly improved their supply chain management, enhanced the capabilities of their R&D, and invested more their manufacturing management and quality control. For instance, according to the quarterly reports of 2020 of Roche, their global supply chain of medicines and tests remain intact and their pharmaceutical division sales increased by 7% as compared to the prior year.

Table Of Content :

  1. Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  2. Executive Summary
  3. Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  4. Key Insights
    • Prevalence of Key Indications (Lung Cancer, Breast Cancer, Prostate Cancer, etc.), By Region/Country
    • Overview of Different Oncology Drugs with respect to Regulatory Approvals and Clinical Trials
    • Pricing Analysis, By Key Players
    • Recent Advancements in Development of Oncology Drugs
    • Key Industry Developments (Mergers, Acquisitions, and Partnerships)
    • Impact of COVID-19 on Oncology Drugs Market

Contine…

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Global Oncology Drugs Market Segmentation :

By Drug Class

  • Cytotoxic Drugs
  • Alkylating Agents
  • Antimetabolites
  • Others
  • Targeted Drugs
  • Monoclonal Antibodies
  • Others
  • Hormonal Drugs
  • Others

By Therapy

  • Chemotherapy
  • Targeted Therapy
  • Immunotherapy

By Indication

  • Lung Cancer
  • Stomach Cancer
  • Colorectal Cancer
  • Breast Cancer
  • Prostate Cancer
  • Others

By Dosage Form

  • Solid
  • Tablets
  • Capsules
  • Liquid
  • Injectable
  • Prefilled Syringes
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Others

By Geography

  • North America (the U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)
  • Latin America (Brazil, Mexico, and the Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

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Dale Martinez

Dale possesses an engineering degree in Electronics from the Georgia Institute of Technology. She is the sole contributor at the Healthcare IT column. Before opting to write, Dale worked at major firms such as Microsoft, Amazon, GE, Raytheon, and so on. She possesses vast knowledge about a variety of fields like IT, IoT, Telecommunications, Health Dialysis, photovoltaic, and many others. Dale is also a ballet dancer.

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