/ Press Release Details /

Cancer Therapeutics Market Size Worth $186.3 Billion By 2025 | CAGR: 10.0%

The global cancer therapeutics market is expected to grow at growth rate of 10.0% to reach USD 186.3 billion by 2025.

Cancer is characterized by the abnormal proliferation of cells beyond their usual boundaries. This disease is one of the most prevalent chronic conditions, affecting millions of population worldwide every year. For example, as per the World Health Organization (WHO), more than 9.6 million patients died due to cancer in 2018 across the globe. The organization has also mentioned that the number of new cancer cases is projected to rise by 70% over the next 2 decades. Due to constant rising in cancer incidences, research activities to develop new and effective therapeutics has increased significantly. It is justified by the sharp increase in the number of pipeline therapeutics. According to an article published by the American Cancer Society (2017), the pipeline of oncology drugs has expanded by 60% during the past decade.

In addition, favorable government initiatives would, in turn, support the industry growth significantly. For example, Conference Series Ltd. is engaged in organizing numerous Oncology & Cancer Conferences. This organization has hosted more than 600 conferences, 1200 symposiums, and 1200 plus workshops on cancer-related topics. However, challenges encountered during the clinical trials for developing cancer therapeutics is expected to hamper the industry growth to some extent.

Key Takeaways

Of the different types, blood and breast cancers are accounted for the majority of revenue share. Increasing incidences of these cancers drive the segment growth. According to the Leukemia & Lymphoma Society (LLS), every three minutes, one person is diagnosed with a blood cancer in the U.S.
However, prostate cancer is anticipated to grow with the fastest CAGR of 12.6% during the forecast period. Advancements in proteomic technologies coupled with improvements in screening and diagnosis techniques will support the segment growth.
Chemotherapy accounted for the highest revenue share, accounted for more than 45% share throughout the study period. Its potential molecular genetics assessment, low side effects and proven efficacy back up the growth.
Agents like alkylating agents, anti-metabolites, and anti-microtubule agent are commonly used for the chemotherapy treatment
We analyzed that by 2020, most of the oncology drugs will be available for multiple indications. A new wave of cancer therapy is sweeping the industry landscape and offering excitement and hope among cancer drug manufacturers.
Lots of efforts are made by many researchers to develop cancer therapeutics for multiple indications. For example, of 88 cancer therapeutics marketed in 2014, approximately 40 were for single indications and more than 48 were for multiple indications. This new strategy, would, in turn, amplify the need for end-users.
North America accounted for significant revenue share due to a continuous increase in the patient numbers in the U.S. As per the National Cancer Institute (NCI), in 2016, around 1,685,000 new cancer cases were recorded in the U.S. and 595,690 patients died from the disease.
In addition, a launch of novel therapeutics such as Xtandi (enzalutamide), Zytiga (abiraterone acetate) and Xofigo set a healthy platform for the regional growth and development
This fragmented industry is characterized by the presence of a large number of small scale and large scale players. F. Hoffmann-La Roche emerged as a key player, contributing 17.03% share of the global market owing to the strong performance of company’s blockbuster drug Avastin and Herceptin. In 2015, the company registered USD 6,631.6 and USD 6,486.7 from Avastin and Herceptin respectively.
Whereas, companies namely Novartis, Amgen, Inc., Johnson and Johnson, and Eli Lilly and Company captured significant market share. New product launch and strategic collaborations helped these players to sustain their market position
In April 2018, Eli Lilly and Company announced positive phase III result of Cyramza (Ramucirumab) for the treatment of patients with hepatocellular carcinoma (HCC), a type of liver cancer.

KEY BENEFITS OF THE REPORT:

Understanding of the strategies that are being adopted by the key players in this market to stay competitive
Extensive analysis of the key players dominating the competitive landscape of this market
In-depth analysis of the key factors are propelling the growth of the global market
Detailed analysis of the geographic region that will witness the strongest growth
Granular analysis of the current market scenario and the expected market grow

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET, BY TYPES