New York, April 13, 2023 (GLOBE NEWSWIRE) -- The global ovarian cancer drugs market is estimated to be valued at US$ 9,857 million by 2032 from US$ 2,678 million in 2022 and is expected to exhibit a CAGR of 14.3% during the forecast period 2023 to 2032. Ovarian cancer is the common cause of death for females who are suffering from gynaecological cancers. Also, it ranks 7th in terms of the most common causes of female death around the globe. Most of the cases are found after the condition has already progressed to the point where it is lethal. The low predictive value of the present screening tests makes this anxiety even worse.
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Key Takeaway:
- By Therapy, the highest market revenue will likely be held by the targeted therapy segment over the forecast period 2023 to 2032.
- By Distribution Channel, the hospital pharmacy segment was anticipated to dominate the market due to an increase in ovarian cancer prevalence.
- In 2022, North America dominated the market with the highest revenue share of 38%.
- Asia-Pacific will grow at the fastest CAGR from 2023-2032.
Early detection methods such as a comprehensive gynaecological examination, laboratory markers like the cancer antigen-125 assay, and transvaginal ultrasound have not significantly reduced cancer morbidity and mortality. Chemotherapy with platinum as the agent is the most common form of treatment for cancer. A thorough understanding of the malignancy's molecular characteristics is essential for the development of novel treatment strategies now more than ever. The rise in ovarian cancer cases, and ease of use of new drugs and therapies, the increasing geriatric population of women, increased government funding, and the rise in healthcare expenditure are estimated to boost the growth of the ovarian cancer drug market.
Factors affecting the growth of the Ovarian Cancer Drugs Market
There are several factors that can affect the growth of the ovarian cancer drug market. Some of these factors include:
- Increased sensitivity of equipment: Increased sensitivity of equipment is responsible for driving the market over the forecast period.
- The increasing burden of ovarian cancer: The rising burden of ovarian cancer leads to propel the market during the forecast period.
- Use of combination therapy for the treatment of ovarian cancer: The use of different combination therapies offers enormous opportunities for market growth.
- Lack of awareness of ovarian cancer: Lack of awareness about cancer may hinder the growth of the market.
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Top Trends in the Global Ovarian Cancer Drugs Market
Computed tomography (CT) is an imaging procedure that uses specialized X-ray equipment to produce detailed pictures, or scans, of specific body parts. Computerized axial tomography (CAT) and computerized tomography are two other names. This apparatus assists in determining the presence of a tumor and detecting whether the cancer is increasing into nearby structures. Also, indications of cancer spreading to the liver or other organs aids in identifying enlarged lymph nodes and indications that an ovarian tumor is affecting the kidneys or bladder. Because of the huge importance of CT scans, there is a rising demand for CT procedures to diagnose ovarian cancer, which results in the growth of the segment.
Market Growth
The expansion of this market is propelled by a rise in early screening and cancer awareness. The growth of the market is further fueled by a rise in investment from the private, public, and government sectors. The market might expand because of the expansion of new businesses due to the expiration of the patents on numerous well-known medications. Ovarian cancer drugs are widely used as a result of increased consumer awareness of accessibility and preventive healthcare. Thus, due to these shifting dynamics, it is estimated that the market will grow during the forecast period. Also, an improvement in patient quality of life through a rise in breast, ovarian, and other cancer patients' remission and survival rates. Furthermore, an increase in the use of PARP inhibitors, aromatase inhibitors, and tamoxifen in the treatment of ovarian cancer has fastened the growth of the cancer hormonal therapy market.
Regional Analysis
North America dominates the ovarian cancer drug market with 38% of the share due to the rising prevalence of ovarian cancer. The ovarian cancer drug market will expand due to increased acceptance of novel therapeutics, new product launches, and a large target population during the forecast period. Asia-Pacific will undergo significant change due to the excellent healthcare reforms and the rising incidence of ovarian cancer; it is estimated that the ovarian cancer drug market will grow in this region. Additionally, this market is expected to expand in the coming years due to a lack of control, a low-cost base, and cultural inhibitions.
Competitive Landscape
The expansion of the market is aided by the approval of the regulatory authorities. For instance, Siemens Medical Solutions Inc. received FDA approval for Siemens NAEOTOM Alpha in September 2021. This advanced computed tomography device is made to turn information from X-ray photons that travel through a patient's body and are received by a detector into a precise three-dimensional image.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | US$ 2,678 Million |
| Market Size (2032) | US$ 9,857 Million |
| CAGR (from 2023 to 2032) | 14.3% |
| North America Revenue Share | 38% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The key drivers of the expansion of ovarian cancer drugs are the equipment's increased sensitivity and result accuracy. The ovarian drugs market is poised for innovation and growth in the pharmaceutical industry. The market is estimated to grow significantly in the upcoming years due to the improved technology and high specificity of CT scans. This is due to a large pool of health-conscious customers. The market is estimated to grow positively due to the positive impact of key players globally approving different ovarian cancer medications.
Market Restraints
The high cost of gynecology medications hindered the expansion of the market. Due to their high cost, most patients cannot afford these medications. The market's expansion is hampered because most families from emerging economies hesitate to visit hospitals because was unable to pay for expensive treatments and medications.
Market Opportunities
Around the world, ovarian cancer is the third most common cancer after uterine and cervical cancer. Daily, thousands of women are dying because of this cancer. As per the report of the American Cancer Society, in the US, around 19,880 new cases of cancer will be detected and around 12,810 women will die due to ovarian cancer. This will boost the global ovarian cancer drugs market. The increasing health awareness among the population also results in the expansion of market growth. Many researchers are investing in the launches of new drug which expand the market’s growth. Various innovative launches in medications for the treatment will boost the market growth.
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Report Segmentation of the Ovarian Cancer Drugs Market
Therapy Insight
In the forecast period, it is anticipated that the targeted therapy segment will continue to dominate the global market. Some targeted cancer therapies have the potential to enhance the immune system's ability to combat cancer and accelerate market expansion effectively. Specific targeted therapies can mark cancer cells, making it easier for the immune system to eliminate and identify them. In addition, the rise in the incidence of cancers like ovarian, gynecological, and breast cancer is also propelling the development of targeted therapies for cancer treatment. Research companies invest a lot of money in creating biologically targeted drugs.
Distribution Channel Insight
The hospital pharmacy held the largest share of the market due to a rise in ovarian cancer prevalence and healthcare spending. The market's expansion is fueled by the rise of hospital pharmacies and an improvement in their structure in developing nations like India and China. Additionally, the primary responsibility of the hospital pharmacy is to monitor the availability of all hospital-used medications. Patients' trust in hospitals due to their easy access to medicines and high-quality services is primarily responsible for enhancing hospital pharmacies. There has been an increase in hospital admissions, as treatment of ovarian cancer is mainly done in hospitals, which helped this market grow.
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Market Segmentation
Based on Therapy
- Chemotherapy
- Immunotherapy
- Targeted Therapy
- Hormonal Therapy
- Radiation Therapy
- Other Therapies
Based on Distribution Channel
- Drug Stores & Retail Pharmacy
- Hospital Pharmacy
- Online Pharmacy
By Geography
- North America
- The US
- Canada
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Mexico
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Market Key Players
- Genentech Inc.
- GlaxoSmithKline plc
- Roche
- Johnson & Johnson
- ImmunoGen
- Janssen Pharmaceuticals, Inc.
- Eli Lilly and Company
- Pfizer
- Other Key Players.
Recent Development of the Ovarian Cancer Drugs Market
- May 2022, After listing Apealea on Gelbe Liste, a German drug distribution website, HLB reported that Elevar Therapeutics, its subsidiary, began marketing the ovarian cancer treatment in Germany.
- May 2022: The Food and Drug Administration of the United States granted ImmunoGen approval. Mirvetuximab soravtansine monotherapy in patients with folate receptor alpha high platinum-resistant ovarian cancer who have previously been treated with 1-3 prior systemic treatments was submitted in the Biologics License Application by the organization.
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