Pune India, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Anti-Cancer drug market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Anti-Cancer drug market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the indication, drug, route of administration, end-user, distribution channel, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Anti-Cancer drug market are Pfizer Inc, AstraZeneca, ANI Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Hikma Pharmaceuticals PLC, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Cipla Inc., Amneal Pharmaceuticals LLC, Glenmark Pharmaceuticals Limited, Fresenius Kabi AG, Mayne Pharma Group Limited, Mylan N.V., Novartis AG., Vintage Labs, Dr. Reddy's Laboratories Ltd, Jiangsu Hengrui Medicine Co., Ltd, Novo Nordisk A/S, Otsuka America Pharmaceutical, Inc., and WOCKHARDT among others. To achieve a substantial market share in the worldwide Anti-Cancer drug market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A tumor is created in a patient's body in a specific organ as a result of the proliferation of cancer cells. These cancerous cells disrupt the normal functions of that organ, making the body weak and vulnerable. Therefore, cancer patients are given an anti-cancer drug to fight cancerous cells. According to a report in Cancer Connect 2020, researchers from the Dana Farber Cancer Institute discovered that during the COVID-19 pandemic, diagnoses of the six most common cancer types—breast, colorectal, lung, pancreatic, gastric, and esophageal cancers—declined by 46%. The Centers for Disease Control and Prevention (CDC) and numerous other medical professional organizations also recommended delaying elective surgeries, cancer screenings, and other health prevention services unless the risks outweighed the benefits and preparing the hospital infrastructure for the care of COVID-19 patients. Therefore, the COVID-19 pandemic has had an impact on the market for cancer medicines.
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Scope of Anti-Cancer Drug Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Indication, Drug, Route of Administration, End-User, Distribution Channel, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Pfizer Inc, AstraZeneca, ANI Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Hikma Pharmaceuticals PLC, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Cipla Inc., Amneal Pharmaceuticals LLC, Glenmark Pharmaceuticals Limited, Fresenius Kabi AG, Mayne Pharma Group Limited, Mylan N.V., Novartis AG., Vintage Labs, Dr. Reddy's Laboratories Ltd, Jiangsu Hengrui Medicine Co., Ltd, Novo Nordisk A/S, Otsuka America Pharmaceutical, Inc., and WOCKHARDT among others. |
Segmentation Analysis
The lung cancer segment is expected to be the fastest-growing segment in 2022.
The indication segment is breast cancer, lung cancer, prostate cancer, gynecologic cancer, gastrointestinal cancer, and others. The lung cancer segment is expected to witness the highest growth rate during the forecast period. Lung cancer is more common in men than in women. Nevertheless, in industrialized countries, particularly in North America and Europe, males are more prone than women to develop prostate disease. In both developed and emerging economies, breast cancer is the most common type among females.
The targeted therapy segment is expected to be the fastest-growing segment in 2022.
The drug segment is cytotoxics, targeted therapy, hormonal therapy, and others. The targeted therapy segment is expected to witness the highest growth rate during the forecast period. When a cancer patient receives targeted therapy, the drugs particularly affect the genes or proteins that the cancer cells have. Examples of targeted therapy for cancer include inducers of apoptosis, angiogenesis inhibitors, signal transduction inhibitors, hormone therapies, gene expression modulators, and numerous other treatments. In the quickly developing field of targeted therapy for cancer, numerous new targets are being researched. For instance, the human epidermal growth factor receptor 2 (HER-2) proteins are extensively expressed on the surface of certain cancer cells. One of the targeted drugs that target this gene is trastuzumab (Herceptin), which is approved to treat some breast and stomach cancers that overexpress HER-2.
The hospital segment is expected to be the fastest-growing segment in 2022.
The end-user segment is hospitals, home care, specialty clinics, and others. The hospital segment is expected to witness the highest growth rate during the forecast period. Hospitals with a safety-net role, such as critical hospitals, have been dedicated to providing excellent care to all populations. They have also joyously accepted the burden of caring for patients and working to eliminate health disparities.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the anti-cancer drug include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The North America region witnessed a major share. Due to the rising incidence of cancer in the United States and the increased usage of cancer medicines. According to the Globocan 2020 report, the number of cancer-related fatalities and new cases in the US in 2020 is expected to be roughly 612,390 and 2,281,658 respectively. The most common malignancies in the US in 2020 were colon (101,809), lung (227,875), prostate (209,512), and breast (253,465). The high concentration of prominent competitors in North America, the rise in strategic partnerships and FDA approvals, and the sizeable investment in R&D activities all point to an expansion of the market in the region.
Country Analysis
- Germany
Germany's Anti-Cancer drug market size was valued at USD 0.11 billion in 2022 and is expected to reach USD 0.17 billion by 2030, at a CAGR of 5.8% from 2023 to 2030. This region has a high adoption rate for personalized and targeted therapies due to their fewer side effects, being more aware of their availability, and supportive reimbursement policies for pricey-focused therapies. Targeted medications are also commonly used in these areas because they have fewer side effects.
- China
China’s Anti-Cancer drug market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.27 billion by 2030, at a CAGR of 6.9% from 2023 to 2030. Targeted therapy is a common method of treatment because of the strong medical infrastructure and high levels of personal disposable resources in these areas. The primary driving forces behind the market expansion in these regions are anticipated by several factors.
- India
India's Anti-Cancer drug market size was valued at USD 0.15 billion in 2022 and is expected to reach USD 0.24 billion by 2030, at a CAGR of 6.3% from 2023 to 2030. The local market is growing as a result of rising awareness of the benefits of early detection, rising disposable incomes, a rise in the prevalence of specific cancer types, and anticipated new drug developments.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of Ant-cancer drug market is mainly driven owing to the increasing multiple cancer incidences, especially in developed economies.
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