Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Global Metastatic Cancer Drugs Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Indication, By Therapy (Targeted Therapy, Immunotherapy, Hormonal Therapy and Chemotherapy), By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global Metastatic Cancer Drugs Market is set for substantial expansion, with a projected value of USD 115.6 billion by the year 2030, growing at an impressive Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.
Tobacco-Related Lung Cancer on the Rise:
Tobacco use is a major contributor to cancer worldwide, with lung cancer expected to claim over 30% of the market share by 2030. Alarming statistics from the World Health Organization (WHO) indicate that approximately 1.3 billion people are tobacco smokers, resulting in about 8 million deaths each year, including 1.8 million from tobacco-induced lung cancer. The growing prevalence of cancer is a global concern for governments and the public alike. Furthermore, the WHO reports a 40 million increase in male smokers between 2000 and 2018, portending a significant rise in cancer incidence and cigarette consumption.
Key Market Strategies:
Market players are adopting strategic partnerships as a vital approach to adapt to evolving end-user demands. For instance, in December 2022, Sanofi expanded its collaboration with Innate Pharma to develop natural killer (NK) cell therapeutics in oncology. Similarly, in March 2023, Merck partnered with Nectin Therapeutics to develop treatment regimens for cancer patients.
Market Leaders:
Pfizer, Inc. is positioned as a frontrunner in the market, with notable collaborations such as the one with Arvinas, Inc. in July 2021, focusing on the development and commercialization of ARV-471, an investigational oral PROTAC (PROteolysis TArgeting Chimera) estrogen receptor protein degrader. Sanofi S.A., Novartis AG, and Eli Lilly and Company are among the key innovators in this market.
Impact of COVID-19:
The COVID-19 pandemic disrupted supply chains, leading to delays in diagnosis and treatment, heightened complications in metastatic cancer patients, and a decrease in patient care quality. This disruption also impacted the demand for metastatic cancer drugs. However, the adoption of telemedicine and remote monitoring technologies accelerated during the pandemic, ensuring the availability of essential prescriptions, including pharmaceuticals, for metastatic cancer patients through online channels, thereby aiding market expansion.
Market Growth Factors:
- Rising Aging Population: The World Health Organization (WHO) predicts that by 2030, one in six individuals globally will be aged 60 or older, totaling 1.4 billion people. This demographic is more susceptible to cancer, leading to a global increase in cancer risk. The aging population presents significant growth opportunities for the market.
- Advancements in Cancer Research: Cancer research has made strides in understanding metastasis, the process of cancer cell migration. This knowledge has led to the identification of molecular targets and pathways, opening doors to tailored treatments that can disrupt metastasis. Advances in cancer research, including combination therapy, are driving the development of metastatic therapies, improving patient outcomes and bolstering the market.
Market Restraints:
Adverse Effects of Cancer Drugs: Chemotherapy drugs, while effective at targeting rapidly dividing cells, cannot differentiate between healthy and cancerous cells, leading to severe side effects, such as damage to bone marrow's blood-forming cells and anemia. These side effects deter a significant number of patients from opting for cancer drugs, limiting market growth during the forecast period.
Scope of the Study:
- Distribution Channels: Hospital Pharmacies, Drug Store & Retail Pharmacies, Online Providers.
- Indications: Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Melanoma & Others.
- Therapies: Targeted Therapy, Immunotherapy, Hormonal Therapy, Chemotherapy.
Key Market Players:
A list of companies profiled in the report includes:
- Bristol Myers Squibb Company
- Merck & Co., Inc.
- AstraZeneca PLC
- Novartis AG
- Eli Lilly And Company
- Pfizer, Inc.
- F.Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Amgen, Inc.
- Sanofi S.A.
For more information about this report visit https://www.researchandmarkets.com/r/498dxs
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