Press release
Oncology Drugs Market Emerging Trends and Business Opportunities by 2030 | Covid 19 Impact And Recovery
Oncology Drugs Market
The global oncology drugs market is expected to decline from $84.4 billion in 2019 to $75.5 billion in 2020 at a compound annual growth rate (CAGR) of -10.6%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Hospitals across the world have postponed the chemo treatments for cancer patients due to covid positive cases in the hospitals. The sessions are delayed or postponed to prevent patients and staff from unnecessary exposure. The cancer treatment can lower the patient's ability to fight infection. COVID-19 pandemic is affecting industries across the globe including the pharmaceutical sector. The disruptions due to extended factory closures in various countries, shortage of APIs and other chemicals, rise in prices of key ingredients, and slowed production are the key factors for this decline. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $113.7 billion in 2023.
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The oncology drugs market consists of sales of oncology drugs and related services by entities (organizations, sole traders and partnerships) that produce oncology drugs to diagnose and treat all types of cancers. This industry includes establishments that produce drugs used in chemotherapy, surgery and radio therapies for treating pancreatic cancer, breast cancer, ovarian cancer, gastric cancer, kidney cancer, brain tumor, and other cancer types.
Companies are increasingly using cancer biomarkers in the drug development process. Cancer biomarkers are molecules secreted by a tumor or a specific response of the body to the presence of cancer. Identifying and targeting these can enhance cancer detection and facilitate high-speed noninvasive diagnosis using genomics and proteomics tools. It can also help predict the drug efficacy faster than conventional clinical endpoints, the point at which an undesired or abnormal effect of the drug is observed indicating withdrawal from therapy. Companies in this market are investing in the development of biomarkers for use in various activities such as tracking drug activity, the pharmacodynamics of drugs and to study diseases and treatment pathways. For instance, Nektar Therapeutics is developing and using biomarkers in drug development processes of its pipeline drugs NKTR-214 and NKTR-181. Janssen's research & development is also focusing on identifying predictive markers or stratification markers to help target the new therapies.
Oncology Drugs Market Segmentation: -
By Type
Lung Cancer
Pancreatic Cancer
Breast Cancer
Prostate Cancer
Ovarian Cancer
Colorectal Cancer
Gastric Cancer
Kidney Cancer
Brain Tumor
Thyroid Cancer
Skin Cancer
Bladder Cancer
Cervical Cancer
Blood Cancer
Others (Kaposi Sarcoma, AIDS-Related Lymphoma, Anal Cancer, Bone Cancer, Retinoblastoma, Testicular Cancer, Hepatocellular (Liver) Cancer, Mouth Cancer, Neuroblastoma)
By Distribution Channel
Hospital Pharmacies
Retail Pharmacies/ Drug Stores
Others
By Route Of Administration
Oral
Parenteral
Others
By Drug Classification
Branded Drugs
Generic Drugs
By Mode Of Purchase
Prescription-Based Drugs
Over-The-Counter Drugs
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Oncology Drugs Market Characteristics
4. Oncology Drugs Market Product Analysis
5. Oncology Drugs Market Supply Chain
......
20. Key Mergers And Acquisitions In The Oncology Drugs Market
21. Market Background: Pharmaceutical Drugs Market
22. Recommendations
23. Appendix
24. Copyright And Disclaimer
The report covers the trends and market dynamics of the Oncology Drugs Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Oncology Drugs Market are F. Hoffmann-La Roche Ltd; Novartis AG; Gilead Sciences Inc; Bayer AG; Takeda Pharmaceticals
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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