Oncology Drugs Market 2019 | Potential Growth by Players Hoffmann-La Roche AG, Novartis International AG, Celgene Corporation, Johnson & Johnson, Bristol-Myers Squibb, Pfizer Inc., Merck & Co., Eli Lilly and Company, AbbVie, Inc., AstraZeneca plc., Bayer

Increasing drug approvals and robust pipeline for novel therapeutic agents are some of the key factors driving the oncology drugs market growth. For instance, in August 2017, Tisagenlecleucel (Kymriah), a drug developed by Novartis was approved by the U.S. Food and Drug Administration (FDA) for the treatment of pediatric and young adults with refractory or relapsed Acute Lymphoblastic Leukemia (ALL).

Moreover, increasing prevalence of various types of cancer is also fueling the oncology drugs market growth. For instance, according to a report by National Cancer Institute, 2016, around 16.8 million new cases of cancer are diagnosed in the U.S. every year, with around 595,690 deaths from the disease and the number of people with cancer is expected to increase to 19 million by 2024.

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Increasing number of drugs are being approved for treating various types of cancer. According to U.S. FDA, around 16 new drugs were approved in 2017 for treatment of cancer. Moreover, by mid November 2018, eight more drugs were approved for cancer. Notable drug approvals from 2017 include, Yescarta from Kite Pharmaceuticals that consist of the axicabtagene ciloleucel, for the treatment of relapsed or refractory large B-cell lymphomas (approved in October 2017)

Kymriah (tisagenlecleucel) from Novartis for the treatment of refractory B-cell precursor acute lymphoblastic leukemia (approved in August 2017),. Imfinzi (durvalumab) from AstraZeneca for the treatment of advanced or metastatic urothelial carcinoma and stage III non-small cell lung cancer (approved in May 2017),.

Increasing number of blockbuster drugs going off patent is expected to boost entry of biosimilars and generic versions of oncology drugs. For instance,Avastin (bevacizumab), which is a Humanized Monoclonal Antibody product for Colorectal, lung, breast, glioblastoma, kidney, and ovarian cancer by Roche is going off patent by July 2019 in U.S.

Erbitux (cetuximab), which is monoclonal antibody/ epidermal growth factor receptor inhibitor for treating colorectal cancer and head and neck cancer form Bristol-Myers Squibb and Eli Lilly and Company went off patent in 2016

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For instance, in May 2018, Eli Lilly and Company acquired two market players, Armo BioSciences and AurKa Pharma for US$ 1.6 billion and US$ 111 million, respectively, to expand its cancer portfolio. In March 2016, Kite Pharma, Inc. collaborated with Genentech, a member of Roche Group, to evaluate a drug molecule, KTE-C19 in combination with atezolizumab for refractory, aggressive non-Hodgkin lymphoma (NHL). The trials are conducted under the names ZUMA-1, ZUMA-2, ZUMA-3, and ZUMA-4.

Major players operating in the global oncology drugs market include, Hoffmann-La Roche AG, Novartis International AG, Celgene Corporation, Johnson & Johnson, Bristol-Myers Squibb, Pfizer Inc., Merck & Co., Eli Lilly and Company, AbbVie, Inc., AstraZeneca plc., Bayer AG, and Amgen Inc.

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