Major players in the ovarian cancer drugs market are AstraZeneca, Roche, Tesaro, Clovis Oncology,and Boehringer Ingelheim. The global ovarian cancer drugs market is expected to grow from $1.
New York, May 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ovarian Cancer Drugs Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067936/?utm_source=GNW
49 billion in 2020 to $1.73 billion in 2021 at a compound annual growth rate (CAGR) of 16.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.51 billion in 2025 at a CAGR of 19.3%.
The ovarian cancer drugs market consists of sales of ovarian cancer drugs to treat ovarian cancer.Ovarian cancer is caused due to abnormal growth of cells in ovary.
This industry includes establishments that produce drugs used in chemotherapy, radiation, and surgery for treating ovarian cancer. The ovarian cancer drugs include Paclitaxel, Cisplatin, Adriamycin PFS (Doxorubicin Hydrochloride), Carboplatin, Cyclophosphamide, Platinol (Cisplatin), Paraplatin (Carboplatin), Doxorubicin Hydrochloride Liposome, Evacet (Doxorubicin Hydrochloride Liposome), Cytoxan (Cyclophosphamide), Paraplat (Carboplatin), Taxol (Paclitaxel), Neosar (Cyclophosphamide) and others.
In January 2019, GlaxoSmithKline (GSK), a UK-based pharmaceutical company, acquired Tesaro for $5.1 billion. This acquisition would enable GSK to expand its product portfolio with Tesaro’s Zejula, PARP inhibitor and others, improve significant opportunities in strengthening GSK’s pharmaceutical business by accelerating the build of GSK’s pipeline and commercial capability in oncology. Tesaro, a biopharmaceutical (oncology-focused) company, is involved in manufacturing and marketing ovarian cancer drugs such as Zejula (niraparib), an oral poly ADP ribose polymerase (PARP) inhibitor and others, that aid in treating ovarian cancer. Tesaro was founded in 2010 and headquartered in Waltham, Massachusetts, USA.
The rising incidence of ovarian cancer is driving the ovarian cancer drugs market.Furthermore, ovarian cancer is recorded to be the eighth most commonly occurring cancer in women and the 18th most commonly occurring cancer across the globe.
According to a study by The World Ovarian Cancer Coalition an estimated 55% rise is expected in the number of patients suffering from ovarian cancer by 2035.According to the Cancer Statistics in 2020, published by the American Cancer Society’, about 1,806,590 new cancer cases and 606,520 deaths were expected in USA.
Thus, the increasing incidence of ovarian cancer cases across the globe drives the ovarian cancer drugs market growth.
Drug manufacturing companies in the industry are increasingly innovating and developing combination drugs to treat ovarian cancer drugs.Combination drugs consists of two or more active pharmaceutical ingredients (APIs) that are combined into a single dosage form to treat complex medical conditions.
The pharmaceutical companies in the ovarian cancer drugs market are investing on the research and development of innovative products such as combination drugs to reduce manufacturing costs, increase compliance and efficiency, improve medication concordance, increase profitability and reduce side effects. For instance, Roche’s blockbuster tranquilize Avastin (bevacizumab), is a combination drug approved by FDA, with ingredients such as carboplatin and paclitaxel, which is utilized to treat advance stage (III or IV) ovarian cancer.
The Ovarian cancer drugs market is governed by regulatory framework of agencies such as Food and Administration Agency (FDA) and American Society of Clinical Oncology (ASCO).FDA’s recommendation for ovarian cancer drugs market in the form of guidelines are mentioned within the CFR ’s (Code for Federal Regulations) title number 21 under part 312, that contains sub-parts from sub part ’A’ to sub part ’I’.
The sub-part ’E’ deals with the procedures designed to push the development, evaluation, and marketing of drugs related to therapies aimed to treat persons with life-threatening and illnesses such as kidney cancer.The sub part ’E’ also includes guidelines for the monitoring and evaluation of clinical trials of ovarian cancer drugs and other cancer drugs by agency officials to determine whether new treatments are safe and effective, or better than existing treatments.
All companies operating in ovarian cancer drugs industry are required to abide to the regulations under FDA.
Increasing use of biologics and targeted therapies are restraining the Ovarian Cancer drugs market growth.Targeted therapies act as substitutes for drugs as they identify and attack cancer cells rather than destroying normal cells.
For example, Bevacizumab is a targeted therapy biologics drugs used to treat Ovarian Cancer.A targeted therapy drug, Zejula was approved by FDA for ovarian cancer, and many targeted therapy drugs such as PARP inhibitors (targeted therapy drug) are undergoing clinical trials and are in drug pipeline.
FDA has also approved Genentech’s biologics license for ovarian cancer drugs highlighting the fact many new companies are entering into the biologics ovarian drug cancer market. Hence, the growing popularity of alternatives such as biologics and targeted therapies may hinder the growth of ovarian cancer drugs market.
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