Pune, India., June 16, 2021 (GLOBE NEWSWIRE) -- Generic Oncology Drugs Market: Key Insights
According to our new research study on “Generic Oncology Drugs Market to 2027 – Global Analysis and Forecast – by Molecular Type, and Indication” the Generic Oncology Drugs Market Size was valued at US$ 21,200.00 million in 2018 and is projected to reach US$ 36,029.60 million by 2027; it is expected to grow at a CAGR of 6.3% during 2019–2027.
Generic Oncology Drugs Market: Competition Landscape and Key Developments
Teva Pharmaceutical Industries LTD., Sandoz International GMBH, Glenmark Pharmaceuticals LIMITED, Sun Pharmaceutical Industries LTD, MSN Laboratories, Aurobindo Pharma, Intas Pharmaceuticals LTD, Zydus Cadila, Mylan N.V., Shilpa Medicare LTD, Fresenius Kabi AG and Dr. Reddy’s Laboratories are among the key companies operating in the Generic Oncology Drugs market. Leading players are focusing on the new product launch, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
In October 2018, Dr. Reddy's Laboratories Ltd announced the launch of Imatinib Mesylate tablets, which is a generic version of Novartis' blockbuster anti-cancer drug Gleevec, in the US market.
In July 2019, Drug maker Pfizer Inc. has agreed to spin off its generic drugs business and combine it with Mylan, a move that leaves Pfizer with more profitable innovative drugs, including cancer drug Ibrance and pneumonia vaccine Prevnar.
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In 2019, North America dominated the global Generic Oncology Drugs market. The market growth in the region is attributed to rising prevalence of cancer, along with increasing awareness regarding the medical condition as well as the presence of supportive associations in the region. For instance, as per the National Cancer Institute, approximately 1,735,350 new cases of cancer were diagnosed in the country in 2018. The common cancers include breast cancer, lung & bronchus cancer, prostate cancer, colon & rectum cancer, melanoma cancer, and liver cancer. Furthermore, according to the data published by A Cancer Journal for Clinicians, in 2017, it was estimated that 1,688,780 new cases of cancer were in the US. The incidences of cancer are rising at an alarming rate in the country, which leads to increased diagnosis for the cancer treatment.
Based on molecule type, the Generic Oncology Drugs market was segmented into large molecules and small molecules. The small molecule segment held ~87.67% of the market share in 2018. On the basis of indication, the Generic Oncology Drugs market is segmented into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, kidney cancer, cervical cancer and others. The lung cancer segment held the largest market share in 2018, and it is further anticipated to register a significant CAGR during 2019–2027.
Cancer is one of the leading cause of deaths across the globe and is extremely affecting the quality of life. Thus, cancer will be burden on society if not diagnosed and treated on time. According to the World Health Organization in 2018, approximately, 9.6 million deaths across the globe were due to cancer. Furthermore the National Cancer Institute predicted that in 2018, approximately 1,735,350 new cancer cases will be diagnosed in the US.
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Figure. 1. Most Prevalent Forms of Cancers Globally, 2018
| Cancer | Global Number of Cases |
| Lung Cancer | 2.09 million cases |
| Breast Cancer | 2.09 million cases |
| Colorectal Cancer | 1.80 million cases |
| Prostate Cancer | 1.28 million cases |
| Skin cancer | 1.04 million cases |
| Stomach Cancer | 1.03 million cases |
Source: The World Health Organization and The Insight Partners Analysis
Additionally, cancer is found to be common in European countries as well. As per the Cancer Research UK, in 2016, around 163,444 deaths in UK were due to cancer.
Furthermore, Asia Pacific region is also facing the problem of growing prevalence of cancer. The top 15 countries with Cancer prevalence are: Japan, Taiwan, Singapore, South Korea, Malaysia, Thailand, China, Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, India, Laos, and Cambodia. According to the National Institute of Cancer Prevention and Research (NICPR), in 2018, in India total deaths due to cancer were 784,821.
These statistics determine an increase in the demand for advanced cancer diagnostics in various regions across the globe. Thus driving the growth of generic oncology drugs during the forecast period.
Generic Oncology Drugs Market: Segmental Overview
In terms of indication, the stomach cancer segment is anticipated to register the highest CAGR in the Generic Oncology Drugs market during the forecast period. Stomach cancer occurs more in older adults and about twice as common in men in comparison with women. As per the American Cancer Society, in 2019, stomach cancer was diagnosed in approximately 27,510 cases. Among which 17,230 in men and 10,280 in women. Moreover, nearly 11,140 people are estimated to die from stomach cancer, in which 6,800 were men, and 4,340 were women. The prevalence of stomach cancer is more common in other developing countries as compared to developed countries.
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Some of the common drugs prescribed for the treatment of stomach cancer includes Everolimus, Doxorubicin Hydrochloride, Trastuzumab, Mitomycin C, and others. Therefore, the rising cases of stomach cancer and the need for better therapeutic generics will grow the market in the forecast period.
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Oncology Drugs Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Drug Class Type ( Chemotherapy, Targeted Therapy, Immunotherapy (Biologic Therapy), Hormonal Therapy ); Indication ( Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, Others ) - https://www.theinsightpartners.com/reports/oncology-drugs-market
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