In a recent published report, Kenneth Research has updated the market report for Cancer Drug Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cancer Drug Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Cancer Drug Market was valued at USD 73.40 Billion in the year 2017. Global Cancer Drug Market is further estimated to grow at a CAGR of 7.98% from 2018 to 2025 to reach USD 135.71 Billion by the year 2025. North America region holds the highest Market share in 2017 with APAC region is considered as the fastest growing Market in the forecasted period. At a country level, the U.S is the biggest Market in 2017 and it is projected to grow at a gradual pace in the coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The major market players in Cancer Drug Market are Roche Holdings Inc., Johnson & Johnson, Novartis AG, Celgene, Eli Lilly and Company, Pfizer, Celgene Corporation, Sanofi, Merck & Co., Amgen Inc. (Other 13 companies detailed information is provided in research report). Roche Diagnostics holds the substantial Market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Cancer Drugs Market
Strength
Growing incidence and pervasiveness of various types of cancer
Academic alliances and partnerships
Weakness
Side-effects of anti-cancer drug therapy
The high cost of drug development and a threat of failure
Opportunity
Scientific advancements in treatment methods
Increasing focus on personalized Anti-cancer medicine
Threats
Patent Cliff
The Immunotherapy segment in the global Cancer Drug Market is expected to hold the highest Market share during the forecast period. The growth can be attributed to growing areas within oncology R&D, high efficacy and fewer side effects and unique molecular level targeting. On the other hand, Blood Cancer by the application is expected to grow at the highest CAGR during the year 2018-2025. Majorly due to growing number of blood cancer patient and the high cost of drugs used for the treatment of blood cancer.
By Application
Gastrointestinal cancer
Blood cancer
Prostate cancer
Skin cancer
Respiratory/lung cancer
Breast cancer
Other types of cancers
By Products & Services
Immunotherapy (biologics therapy)
Hormonal therapy
Targeted therapy
Chemotherapy
Others
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By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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