Pune, April 01, 2022 (GLOBE NEWSWIRE) -- The Global Cancer Therapeutics Market size is expected to clock US$ ~250.08 billion by 2031, according to the latest report published by growth plus reports. owing to the rising prevalence of the different types of cancers coupled with a strong product pipeline.
Market Dynamics
Rising prevalence of cancer across the globe, strong product pipeline, growing demand for personalized medicine, an increasing number of cancer awareness programs, and growing public & private funding for R&D activities of cancer therapeutics are some of the key factors propelling the growth of cancer therapeutics market. However, the high cost of drug development and the high cost and adverse effects of cancer therapy are likely to restrain market growth to a certain extent.
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Government bodies and numerous organizations across the globe are making efforts to accelerate the development and commercialization of cancer drugs and therapies by providing the necessary funding, grants, permissions, clearances, and approvals. For instance, in April 2020, the FDA granted accelerated approval to Trodelvy (sacituzumab govitecan-hziy) for the treatment of adult patients with triple-negative breast cancer that has spread to other parts of the body.
The global cancer therapeutics market has been analyzed from four different perspectives–Treatment Type, Application, End-User, and Region.
Excerpts from ‘By Application Segmentation’
The global cancer therapeutics market has been segmented majorly into seven distinct categories depending on application, viz.
- bladder cancer
- breast cancer
- colon & rectal cancer
- lung cancer
- prostate cancer
- lung cancer
- others (endometrial cancer, pancreatic cancer, thyroid cancer, etc.).
The breast cancer segment dominated the market with the largest share owing to its high prevalence in 2020. About 1 in 8 U.S. women develops invasive breast cancer. In 2021, an estimated 281,550 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 49,290 new cases of non-invasive (in situ) breast cancer. Such large pool of cancer population will further propel the growth of breast cancer diagnostics market.
Excerpts from ‘By Region Segmentation’
The global cancer therapeutics market has been segmented into
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
North America is expected to command the largest share in the global cancer therapeutics market, followed by Asia Pacific, Europe, and Rest of the World (RoW). Factors such as presence of prominent players coupled with large number of drugs present in pipeline, rising prevalence of different type of cancers in the region, and greater funding by public & private organizations for cancer research are attributed for the large share of the region in the global market.
Excerpts from ‘Competitive Landscape’
The prominent players operating in the global cancer therapeutics market are
- Merck Sharp & Dohme Corp
- Novartis AG
- Pfizer Inc
- Bristol-Myers Squibb Company
- Johnson & Johnson Services, Inc
- Bayer AG
- F. Hoffmann-La Roche Ltd
- AstraZeneca
- Amgen Inc
- Lilly USA, LLC
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2021 to 2031 |
| Forecast Period 2021 to 2031 CAGR | 7.5% |
| 2031 Market Value | USD 250.08 Billion |
| Base Year | 2020 |
| Historical Data | 2018 and 2019 |
| Number of pages | 100 - 120 |
| Segment Covered | Type, Application, End-User |
VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
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- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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