Cancer Drugs Market - Current Competitive Analysis 2024 | Bayer AG, Eli Lilly and Company, Novartis AG, Amgen, GlaxoSmithKline plc., Bristol-Myers Squibb Company, Pfizer

The main objective of this report is to define, describe, and forecast the global “Cancer Drugs” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global cancer drugs market is projected to grow at a CAGR of 7.2% over the forecast period of 2018-2024.

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FDA approve Regeneron, Sanofi skin Cancer drugs

October 2018, Drug makers Regeneron Pharmaceuticals and Sanofi have won federal approval to make a skin cancer medication for patients who do not respond to surgery or radiation. The U.S. Food and Drug Administration approved Libtayo for use on patients suffering from a skin cancer known as metastatic cutaneous squamous cell carcinoma. It is the second most common form of skin cancer, according to the FDA. Regeneron is headquartered in Tarrytown, New York, and manufacturers most of its medications in East Greenbush, The company partnered with Paris, France-based Sanofi three years ago to develop and commercialize antibody cancer treatments in the emerging field of immuno-oncology.

Leading Players

Some of the leading companies in Cancer drugs market are Amgen Inc., Johnson & Johnson, GlaxoSmithKline, Eli Lilly & Co., Roche Diagnostics, Novartis AG, Pfizer, Merck & Co., Sanofi, Celgene Corporation

Rising Occurrences of Malignant Cancers to Drive the Cancer Drug Market

Growing occurrence of different types of cancer such as breast cancer, lung and bronchus cancer, colon and rectum cancer, bladder cancer, and liver cancer has a positive impact on the growth of the market. People with cancer requires more than one type of treatment. Further, availability of many types of FDA approved drugs for several types of cancers, increasing concerns over high death rates due to cancer, and advancement in cancer treatment technology are some factors responsible for the growth of Cancer drugs market. Further, government aid and help from NGO that promotes cancer care/treatment and, the introduction of new drugs and therapies for cancer are also some factors boosting the demand for the same. However, on the contrary, the high cost of cancer treatments, and the threat of failure and the adverse effects of Cancer drugs therapy, mostly chemotherapy, hampers the growth of the Cancer drugs market. Furthermore, Introduction of novel Cancer drugs products to boost the demand for the Cancer drugs market.

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North America to Dominate the Cancer Drug Market over the period from 2018 to 2024

Among the geographies, North America is expected to dominate the cancer drug market. As per national cancer institute, approximately 38.4% of men and women will be diagnosed with cancer in the United States based on 2013–2015 data. Favorable health insurance policies, high disposable income, government, and other private institutes heavily invest in research and development activities are some factors responsible for the growth of Cancer drugs market in North America region. Moreover, the presence of top players of pharmaceuticals in the U.S. region also increases the market in this region. Further, Europe is the second revenue-generating region for the Cancer drugs market. In Europe region, a majority of the multinational players have focused on the development of biologics or immunotherapeutic due to its high efficiency and target specific action. 

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