Global Oncology Drugs Market
Dublin, June 21, 2022 (GLOBE NEWSWIRE) -- The "Oncology Drugs Global Market Report 2022, By Type, Drug Type, Drug Classification" report has been added to ResearchAndMarkets.com's offering.
The global oncology drugs market is expected to grow from $199.95 billion in 2021 to $223.21 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The market is expected to reach $328.22 billion in 2026 at a CAGR of 10.1%.
Major companies in the oncology drugs market include F.Hoffmann-La Roche Ltd., Novartis AG, Gilead Sciences Inc., Bayer AG and Takeda Pharmaceuticals.
North America was the largest region in the oncology drugs market in 2021. Middle East is expected to be the fastest growing region in the forecast period.
The oncology drugs market consists of sales of oncology drugs and related services by entities (organizations, sole traders and partnerships) that produce oncology drugs to diagnose and treat all types of cancers.
Companies in the oncology drugs market are increasingly investing in technologies such as artificial intelligence (AI) to save time and reduce research and development costs. AI is the simulation of human intelligence processes by machines, especially computer systems, which has the potential to surpass human intelligence levels.
This technology helps to analyze large sets of chemical and biological data to identify potential drug candidates with higher success rates and at a quicker pace when compared to human analysis. The technology also helps in speeding up the patient recruitment process by matching cancer patients with the most relevant clinical trials, thus lowering clinical trial costs.
Major oncology drug manufacturers such as Roche, Pfizer and Johnson and Johnson have already invested in AI technologies to reduce time taken and costs incurred for drug development. For example, Johnson and Johnson has recently entered into an agreement with BenevolentAI, a UK-based start-up, to mine data for designing new oncology drugs.
Companies in the oncology drug market are investing in targeted therapy, which has proven to be less toxic compared to traditional treatment options. Targeted cancer therapies are drugs or substances which block the growth of cancer by interfering with molecules that are more specifically involved in cancer cell progression than in normal cell activity.
The goal of these therapies is to eliminate cancerous cells in the body while leaving normal cells unharmed. By focusing on changes in the cell that are specific to cancer, this therapy may prove to be more effective than traditional chemotherapy and radiotherapy.
Companies in oncology market such as Pfizer, Novartis and Abbvie have understood the importance of this treatment method and are increasingly investing in it. According to a report by QuintilesIMS, 87% of the drugs currently in pipeline constitute of targeted therapy drugs.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Oncology Drugs Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Oncology Drugs Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Oncology Drugs Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Oncology Drugs Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Oncology Drugs Market Trends And Strategies
8. Impact Of COVID-19 On Oncology Drugs
9. Oncology Drugs Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Oncology Drugs Market Regional Analysis
10.1. Global Oncology Drugs Market, 2021, By Region, Value ($ Billion)
10.2. Global Oncology Drugs Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Oncology Drugs Market, Growth And Market Share Comparison, By Region
11. Oncology Drugs Market Segmentation
11.1. Global Oncology Drugs Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.2. Global Oncology Drugs Market, Segmentation By Drug Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Others (Kaposi Sarcoma, AIDS-Related Lymphoma, Anal Cancer, Bone Cancer, Retinoblastoma, Testicular Cancer, Hepatocellular (Liver) Cancer, Mouth Cancer, Neuroblastoma)
11.3. Global Oncology Drugs Market, Segmentation By Distribution Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Retail Pharmacies/Drug Stores
11.4. Global Oncology Drugs Market, Segmentation By Route Of Administration, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.5. Global Oncology Drugs Market, Segmentation By Drug Classification, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Oncology Drugs Market Metrics
12.1. Oncology Drugs Market Size, Percentage Of GDP, 2016-2026, Global
12.2. Per Capita Average Oncology Drugs Market Expenditure, 2016-2026, Global
F.Hoffmann-La Roche Ltd.
Gilead Sciences Inc.
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