Cancer Therapeutics Market to Generate Huge Revenue in Future

The Global Cancer Therapeutics Market was valued at $81,291 million in 2016 and is estimated to reach at $178,863 million by 2023, registering a CAGR of 11.9% from 2017 to 2023. Cancer therapeutics involves the use and administration of chemotherapy and oncology drugs to treat cancer.
Increase in cancer prevalence, surge in collaboration between pharmaceutical companies, and rise in cancer research are the key factors that augment the growth of the cancer therapeutics market. Furthermore, growth in geriatric population is expected to boost the market.

However, high costs associated with oncology drug development along with adverse effects associated with cancer therapeutics are some of the factors that restrain the market growth. Conversely, the upsurge in demand for personalized medicine and high potential of developing nations is expected to provide new opportunities for the market players in future.

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The cancer therapeutics market is segmented based on application, top selling drugs, and region. Based on application, the market is divided into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, and others. By top selling drugs, it is categorized into Revlimid, Avastin, Herceptin, Rituxan, Opdivo, Gleevec, Velcade, Imbruvica, Ibrance, Zytiga, Alimta, Xtandi, Tarceva, Perjeta, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The lung cancer segment dominated the cancer therapeutics market, owing to the surge in prevalence of lung cancer and favorable government regulations towards lung cancer therapeutics.

A rise in focus of vendors on the emerging markets, such as Asia-Pacific and LAMEA is expected to boost the market growth. Asia-Pacific is projected to witness significant growth in future, owing to increase in R&D investment and surge in cancer awareness. Furthermore, this region presents remarkable opportunities for the venture capitalists and investors, as the developed markets are comparatively saturated.

The report provides an extensive competitive analysis and profiles of the key market players such as F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, AbbVie, Inc., Johnson & Johnson, Celgene Corporation, Astellas Pharma, Inc., Pfizer, Inc., Novartis AG, Merck KGaA, and Eli Lilly and Company. The other players in the value chain (not included in the report) include AstraZeneca plc, Bayer AG, and Takeda Pharmaceutical Company Limited.

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North America was the leading revenue contributor to the global market in 2016, owing to high adoption rate of cancer therapeutics. North America occupied nearly half of the total market share in 2016. However, Asia-Pacific is expected to grow at the highest CAGR of 13.6% from 2017-2023, owing to increase in disposable income; surge in research, development, & innovation activities; and growth in awareness of cancer therapeutics.

The report provides extensive competitive analysis and profiles of the key market players such as F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, AbbVie, Inc., Johnson & Johnson, Celgene Corporation, Astellas Pharma, Inc., Pfizer, Inc., Novartis AG, Merck KGaA, and Eli Lilly and Company. The other players in the value chain (not included in the report) include AstraZeneca plc, Bayer AG, and Takeda Pharmaceutical Company Limited.

Key Benefits

• This report entails a detailed quantitative analysis of the market trends from 2016 to 2023 to identify the prevailing opportunities along with strategic assessment of the global cancer therapeutics market.
• Cancer therapeutics market size and market estimations are based on a comprehensive analysis of the applications, top selling drugs, and developments in the industry.
• An in-depth analysis based on region assists to understand the regional market and facilitate the strategic business planning.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

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