Westford, USA, June 17, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the cancer therapeutics market will attain a value of USD 299.13 billion by 2031, with a CAGR of 9.1% during the forecast period (2024-2031). The significant development of the cancer therapeutics market can be accredited to the factors like rise in the number of cases of cancer, rising strategic association between various pharma players with an upswing in cancer research. In addition, the constantly increasing research and utility of greatly revolutionary treatments including immunotherapies, targeted therapies and individualized medicines also have questions to do. These treatments have been revealed to be effective with encouraging signs when it comes to handling all kinds of cancer; this has been a major boost to tackle cancer patient prognosis besides the survival rates.
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Browse in-depth TOC on "Cancer Therapeutics Market"
- Pages - 157
- Tables - 112
- Figures – 76
Cancer Therapeutics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 149.02 Billion |
| Estimated Value by 2031 | $ 299.31 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.1 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Top Selling Drugs, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Development of Biosimilars |
| Key Market Drivers | Rising Cancer Prevalence Drives the Market Growth |
Lung Cancer Dominating Application Segment in the Market Due to High Prevalence and Effective Therapies
The high prevalence rate of lung cancer and its serious impact on global health has resulted in the lung cancer sector emerging as the dominant force, making it rank among the leading causes of cancer-related deaths worldwide. The healthcare burden of lung cancer is heavy. Its treatment options range from surgery, chemotherapy to immunotherapy and many more. This dominance of the lung cancer segment is also fueled by favorable government regulations toward lung cancer therapeutics and the increasing prevalence of the disease.
Rise in Revolutionary Treatment Advances in Blood Cancer Drives the Growth in the Application Segment
Blood cancer is one of the fastest-growing segments in the cancer therapeutics market due to the growing incidence of blood cancer and the ongoing advances in treatment options. The most recent advancements such as CAR-T cell therapy have brought a change in the treatment landscape for a few types of blood cancers has resulted in remarkably high response rates and long-lasting remissions in some cases. The success of CAR-T cell therapy heralds a new era of precision medicine and personalized therapy in blood cancer treatment.
Driven by Innovation and Strong Healthcare Infrastructure North America Takes Lead
Along with the United States and Canada leading the pack, the North America is leading the cancer therapeutics market, driven by several factors, such as the increased rate of cancer in this region, strong healthcare infrastructure, and a regulatory environment that supports innovation. At the same time, North America continues to be home to some of the top pharmaceutical and biotechnology companies that strive hard, day in and day out, to push the domain of oncology research and invent novel drugs, in addition to that, advances in precision medicine and personalized therapies further consolidate the position of this region in this market.
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Cancer Therapeutics Market Insights:
Drivers
- Rising Cancer Prevalence Drives the Market Growth
- Advancements in Medical Technology Grabs Patient’s Attention
Restraints
- High Cost of Cancer Treatments Hampers Growth
- Side Effects and Toxicity Causing Discomfort
Prominent Players in Cancer Therapeutics Market
The following are the Top Cancer Therapeutics Companies
- Rache Holding AG
- Novartis AG
- Merck & Co., Inc.
- Pfizer Inc.
- AstraZeneca plc
- Bristol Myers Squibb Company
- AbbVie Inc.
- Amgen Inc.
- GlaxoSmithKline plc
- Eli Lilly and Company
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Key Questions Answered in Cancer Therapeutics Market Report
- What drives the cancer therapeutics market growth?
- Who are the leading cancer therapeutics providers in the world?
- Where will cancer therapeutics demand soar high?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of cancer therapeutics market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the cancer therapeutics market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
Related Reports:
Cancer Biological Therapy Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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