|12-04-2018 03:05 PM CET - Health & Medicine||
Global Oncology Drugs Market is Growing at a Remarkable CAGR 2018-2026 By Global Key Players Like Roche, Celgene, Johnson & Johnson, Pfizer, Sanofi, Bristol-Meyers Squibb And Other
Press release from: Coherent Market Insights - Pharmaceutical Industry
Roche is a world leader in oncology, which is engaged in developing new approaches for advanced cancer treatment. Roche operates in two segments, which includes pharmaceuticals and diagnostics with annual sales of US$ 39.1 Bn and US$ 11.5 Bn respectively. Roche is at the forefront of cancer immunotherapy with ten investigational drug candidates currently in the clinical development phase. In 2016, the company entered into 10 new clinical collaboration agreements to explore drug combinations for maximizing therapeutic benefits and develop the lead immunotherapy drug. The company has set up imCORE, a network of 21 academic institutions working with Roche to advance research into cancer immunotherapies, thus contributing to enhance the global oncology drugs market in the near future.
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Oncology drugs and medications have become a blooming business for players in the pharmaceutical industry. Major pharmaceutical companies are focused on manufacturing and development of oncology drug. Market players have oncology drugs in pipeline, which are expected to be in the market as potential medications in near future. Also, the global oncology market is expected to gain a significant traction with the increasing prevalence of cancer.
The major competitors are focused on developing efficient treatment for specific type of cancer which is expected to be a prominent factor to augment the global oncology drugs market.
Major manufacturers in the oncology drugs market include:
Johnson & Johnson
Merck & Co.
Johnson and Johnson operates in three business segments namely consumer, pharmaceutical and medical devices. The business of Johnson & Johnson is conducted by more than 230 operating companies located in 60 countries worldwide. In 2016, the company has invested around US$ 9.1 Bn in research and development activities.
Pfizer, Inc. develops oncology therapies that provide maximum efficacy while minimizing adverse effects on the patient. The current portfolio of oncology drugs covers a range of cancers. The company studies these therapies alone and in combination with other treatments to improve the lives of cancer patients.
Novartis is leading provider of cancer treatments, following the acquisition of oncology products from GlaxoSmithKline in 2015. In 2016, the company collaborated with Surface Oncology to bolster the cancer immunotherapy pipeline that will provide access to four preclinical programs. Also, with a licensing agreement with Xencor, it plans to co-develop two bispecific antibodies designed to target acute myeloid leukemia and B-cell malignancies, thereby aiding the growth of oncology drugs market.
Sanofi operates through two business segments namely pharmaceuticals and vaccines. Sanofi gains insights through its network of collaborations with biotech companies such as Immunogen and Evotec, academic cancer centers such as Institut Gustave Roussy, Institut Curie, and the Dana Farber Cancer Institute, enabling superior use of software, analytics, and new technology, which helps to increase its productivity, maximize return on R&D investment, and accelerate the development of new products.
The major strategic collaborations included in the competitive analysis include:
Sanofi and Regeneron collaborated to develop REGN2810, with an overall expenditure of US$ 325 million each towards developing the therapy currently in the Phase I
Bristol-Myers Squibb (BMS) and CytomX Therapeutics collaborated to develop four target cancer therapies using CytomX’s Probody drug discovery platform. The collaboration would provide CytomX with a net US$ 1.2 Bn.
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This release was published on openPR.
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