New York, USA, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global cytotoxic drugs market is anticipated to generate a revenue of $14,885.2 million and rise at a CAGR of 1.2% over the estimated timeframe from 2021 to 2028.
As per our analysts, with the rising prevalence of cancer all across the globe which leads to an increase in the adoption of cytotoxic chemotherapy drugs among people, the cytotoxic drugs market is predicted to witness progressive growth over the forecast period. Moreover, the significant expansion of healthcare establishments across the Asia-Pacific region is predicted to create huge investment opportunities for the market throughout the analysis timeframe. However, the lower product penetration in low-income regions may hinder the growth of the market during the estimated period.
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Segments of the Market
The report has divided the cytotoxic drugs market into segments based on drug type, route of administration, application, and region.
Drug Type: Antimetabolites Drugs Sub-Segment to be Most Productive
The antimetabolites drugs sub-segment is expected to generate a revenue of $6,908.1 million over the forecast timeframe. This is mainly due to the enormous benefits of antimetabolite drugs. Moreover, the growing incidences of breast cancer and lung cancer, and the rising public awareness regarding chronic cancer diseases are the factors expected to bolster the growth of the market sub-segment throughout the analysis period.
Route of Administration: Parental Sub-Segment to be Most Profitable
The parental sub-segment is predicted to garner a revenue of $11,273.0 million during the estimated period. The parental administration of cytotoxic drugs plays a vital role in shrinking cancer cells which is the major factor expected to augment the growth of the cytotoxic drugs market sub-segment over the analysis period.
Application: Breast Cancer Sub-Segment to be Most Lucrative
The breast cancer sub-segment is expected to generate a revenue of $5,011.5 million throughout the forecast timeframe. The increasing prevalence of the disease along with the invention of novel therapies are predicted to fuel the growth of the market sub-segment during the analysis timeframe.
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North America Region to Hold the Largest Share of the Market
The North America region of the cytotoxic drugs market is projected to garner a revenue of $6,902.3 million throughout the forecast period. This is majorly due to the increasing prevalence of cancer-causing diseases in this region. Furthermore, the strong existence of leading players in this region together with their innovative product developments is predicted to drive the regional growth of the market over the analysis timeframe.
Covid-19 Impact on the Cytotoxic Drugs Market
The outbreak of the Covid-19 pandemic has badly affected the growth of the cytotoxic drugs market. This is mainly due to the prolonged and stringent lockdowns along with the travel restrictions which compelled patients to delay their treatment during the pandemic period. Moreover, healthcare professionals have neglected people suffering from other diseases such as cancer during that period due to the rising burden of COVID cases. All these factors have declined the growth of the market during the period of crisis.
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Key Players of the Market
The major players of the cytotoxic drugs market include
- F. Hoffmann-La Roche AG
- Merck & Co. Inc.
- Bristol-Myers Squibb
- GlaxoSmithKline PLC
- Sanofi
- Johnson & Johnson
- Novartis AG
- AbbVie Inc.
- Eli Lilly and Company
- Pfizer Inc.
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry- Inquire here to grab full report
For instance, in December 2021, Pfizer Inc., a leading American multinational pharmaceutical and biotechnology corporation announced its acquisition of Arena Pharmaceuticals, Inc., an American biopharmaceutical company. With this acquisition, the companies aimed to develop innovative potential therapies for the treatment of several immune-inflammatory diseases including cancer, cardiovascular diseases, skin diseases, and many more.
In addition, the report also summarizes various important aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Cytotoxic Drugs Market:
- 6 Cytotoxic Drugs That Have Become Quintessential to Treat Cancer
- What Precautionary Measures do the Health Care Workers and Family Members Need to Take along with the Cytotoxic Drugs Consuming Patients?
- Surging Prevalence of Cancer and Noteworthy Expansion of the Healthcare Sector to Drive the Global Cytotoxic Drugs Market by 2028
