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Top 10 Cancer Drugs Market Size to hit $129.9 billion by 2026, Top Prominent Players: AbbVie Inc., Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, Celgene Corporation

04-07-2020 05:55 PM CET | Health & Medicine

Press release from: Allied Market Research

Top 10 Cancer Drugs Market

Top 10 Cancer Drugs Market

The top 10 cancer drugs market accounted for $63.6 billion in 2018, and is expected to reach $129.9 billion by 2026, registering a CAGR of 9.8% from 2019 to 2026.

Cancer caused when the cells present in the body grow at an uncontrolled rate leading to the formation of a tumor. Cancer has different stages based on its progression. Metastasis is the final stage of the disease, which is marked by the invasion of tumor into others parts of body. The management of cancer in patients requires the use of different forms of drugs such as hormonal therapy, immunotherapy, targeted therapy, and others.

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Drugs such as Revlimid, Opdivo, Keytruda, Herceptin, Avastin, Rituxan, Imbruvica, Neulasta/Peglasta, Ibrance, and Zytiga are the top selling drugs in 2018. The key drivers of the global cancer drugs market are increase in incidence of cancer, rise in adoption of advance therapies such as biological & targeted drug therapies, surge in geriatric population, and rise in collaborations & partnerships to facilitate drug development. In addition, availability of the drugs and increase in healthcare expenditure have significantly contributed toward the growth of this market. Increase in number of pipeline drugs along with high potential of emerging economies are further expected to provide lucrative opportunities for market expansion. However, high cost involved in new drug development and adverse effects related to cancer drugs are expected to impede the market growth.

The global top 10 cancer drugs sales is segmented on the basis of region. Regionally, the market is studied across Europe (Russia, Netherlands, Switzerland, Sweden, Belgium, Austria, Norway, Denmark, Poland, Finland, Portugal, Greece, Ireland, Czech Republic, Hungary, Romania, Ukraine), Asia-Pacific (Taiwan, Indonesia, New Zealand, Singapore, Malaysia, Vietnam, Myanmar, Sri Lanka, Macau, Nepal), and LAMEA (Turkey, Venezuela, Colombia, Argentina, Iran, Israel, Chile, Algeria, United Arab Emirates, Puerto Rico, Morocco, Costa Rica, Lebanon).

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In the current scope of the study, Europe was the leading revenue contributor to the market in 2018, owing to high adoption rate of cancer drugs. However, Asia-Pacific is expected to grow at the highest CAGR from 2019 to 2026, owing to increase in adoption of advanced therapies, surge in research, development, & innovation activities; and rise in awareness related to different cancers.

The Major Key Players Are:

o AbbVie Inc.
o Astellas Pharma Inc.
o AstraZeneca PLC
o Bristol-Myers Squibb Company
o Celgene Corporation
o F. Hoffmann-La Roche Ltd.
o Johnson & Johnson (Janssen Global Services, LLC,)
o Merck & Co., Inc.
o Novartis AG
o Pfizer Inc.

Key Findings of the Top 10 Cancer Drugs Market :

o Revlimid occupied 15.22% share of the global top 10 cancer drugs sales in 2018.
o Keytruda is anticipated to grow at the highest rate during the analysis period.
o The Europe cancer drugs accounted for 21.21% share of the global top 50 cancer drugs sales in 2018.
o The top 10 cancer drugs accounted for 52.96% share of the global top 50 cancer drugs sales in 2018.
o Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA

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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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