Dublin, March 09, 2021 (GLOBE NEWSWIRE) -- The "Oncology Drugs Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global oncology drugs market is expected to grow from $80.92 billion in 2020 to $84.38 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%.
Oncology Drugs Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global oncology drugs market as it emerges from the COVID-19 shut down.
Major companies in the oncology drugs market include F. Hoffmann-La Roche Ltd; Novartis AG; Gilead Sciences Inc; Bayer AG and Takeda Pharmaceticals.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $112.14 billion in 2025 at a CAGR of 7%.
The oncology drugs market consists of sales of oncology drugs and related services by entities (organizations, sole traders and partnerships) that produce oncology drugs to diagnose and treat all types of cancers. This industry includes establishments that produce drugs used in chemotherapy, surgery and radio therapies for treating pancreatic cancer, breast cancer, ovarian cancer, brain tumor, and other different cancer types.
The oncology drugs market is segmented into lung cancer; pancreatic cancer; breast cancer; prostate cancer; ovarian cancer; colorectal cancer; gastric cancer; kidney cancer; brain tumor; thyroid cancer; skin cancer; bladder cancer; cervical cancer; blood cancer; and others (kaposi sarcoma, aids-related lymphoma, anal cancer, bone cancer, retinoblastoma, testicular cancer, hepatocellular (liver) cancer, mouth cancer, neuroblastoma).
North America was the largest region in the global oncology drugs market, accounting for 35% of the market in 2020. Asia Pacific was the second largest region accounting for 35% of the global oncology drugs market. Africa was the smallest region in the global oncology drugs market.
Companies in the oncology drug market are investing in targeted therapy, which has proven to be less toxic compared to traditional treatment options. Targeted cancer therapies are drugs or substances which block the growth of cancer by interfering with molecules that are more specifically involved in cancer cell progression than in normal cell activity. The goal of these therapies is to eliminate cancerous cells in the body while leaving normal cells unharmed.
By focusing on changes in the cell that are specific to cancer, this therapy may prove to be more effective than traditional chemotherapy and radiotherapy. Companies in oncology market such as Pfizer, Novartis and Abbvie have understood the importance of this treatment method and are increasingly investing in it. According to a report by QuintilesIMS, 87% of the drugs currently in pipeline constitute of targeted therapy drugs.
Companies in the oncology drugs market are increasingly investing in technologies such as artificial intelligence (AI) to save time and reduce research and development costs. AI is the simulation of human intelligence processes by machines, especially computer systems, which has the potential to surpass human intelligence levels.
This technology helps to analyze large sets of chemical and biological data to identify potential drug candidates with higher success rates and at a quicker pace when compared to human analysis. The technology also helps in speeding up the patient recruitment process by matching cancer patients with the most relevant clinical trials, thus lowering clinical trial costs.
Major oncology drug manufacturers such as Roche, Pfizer and Johnson and Johnson have already invested in AI technologies to reduce time taken and costs incurred for drug development. For example, Johnson and Johnson has recently entered into an agreement with BenevolentAI, a UK-based start-up, to mine data for designing new oncology drugs.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on the oncology drugs market in 2020 as supply chains were disrupted due to restrictions on trade of pharmaceutical ingredients and products across countries. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
Pharmaceutical markets such as this one have been relatively unaffected however due to continued availability of drugs during government lock downs and inelasticity of demand. It is expected that the oncology market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Oncology Drugs Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Oncology Drugs Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Oncology Drugs Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Oncology Drugs Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Oncology Drugs Market Trends and Strategies
8. Impact of COVID-19 on Oncology Drugs
9. Oncology Drugs Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Oncology Drugs Market Regional Analysis
10.1. Global Oncology Drugs Market, 2020, by Region, Value ($ Billion)
10.2. Global Oncology Drugs Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Oncology Drugs Market, Growth and Market Share Comparison, by Region
11. Oncology Drugs Market Segmentation
11.1. Global Oncology Drugs Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Lung Cancer Drugs
- Pancreatic Cancer Drugs
- Breast Cancer Drugs
- Prostate Cancer Drugs
- Ovarian Cancer Drugs
- Colorectal Cancer Drugs
- Gastric Cancer Drugs
- Kidney Cancer Drugs
- Brain Tumor Drugs
- Thyroid Cancer Drugs
- Skin Cancer Drugs
- Bladder Cancer Drugs
- Cervical Cancer Drugs
- Blood Cancer Drugs
- Others (Kaposi Sarcoma, AIDS-Related Lymphoma, Anal Cancer, Bone Cancer, Retinoblastoma, Testicular Cancer, Hepatocellular (Liver) Cancer, Mouth Cancer, Neuroblastoma)
11.2. Global Oncology Drugs Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospital Pharmacies
- Retail Pharmacies/ Drug Stores
- Others
11.3. Global Oncology Drugs Market, Segmentation by Route of Administration, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Oral
- Parenteral
- Others
11.4. Global Oncology Drugs Market, Segmentation by Drug Classification, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Branded Drugs
- Generic Drugs
11.5. Global Oncology Drugs Market, Segmentation by Mode of Purchase, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Prescription-Based Drugs
- Over-The-Counter Drugs
12. Oncology Drugs Market Metrics
12.1. Oncology Drugs Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Oncology Drugs Market Expenditure, 2015-2025, Global
Companies Mentioned
- F. Hoffmann-La Roche Ltd
- Novartis AG
- Gilead Sciences Inc
- Bayer AG
- Takeda Pharmaceticals
For more information about this report visit https://www.researchandmarkets.com/r/x9e3x4