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Cancer Therapeutics Market to Grow Valuation of $180.19 Billion by 2026 | Johnson & Johnson, Celgene Corporation

03-04-2021 03:49 PM CET | Health & Medicine

Press release from: Allied Market Research

Cancer Therapeutics Market

Cancer Therapeutics Market

Rise in prevalence of cancer, surge in cancer research, and increase in strategic acquisitions & collaborations are the major factors propelling the growth of the global cancer therapeutics market.

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The global cancer therapeutics market was pegged at $98.90 billion in 2018 and is expected to hit $180.19 billion by 2026, growing at a CAGR of 7.7% from 2019 to 2026.

COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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Increase in incidence of cancer, rise in cancer research, and surge in strategic acquisitions & collaborations fuel the growth of the global cancer therapeutics market. On the other hand, high cost of drug development, threat of failure and adverse effects associated with cancer drug therapy restrain the growth to certain extent. Nevertheless, high potential associated with personalized medicines and rise in purchasing power of the individuals in emerging economies have paved the way for lucrative opportunities in the near future.

The lung cancer segment to retain its dominance by 2026-

Based on application, the lung cancer segment contributed to nearly one-fifth of the total market revenue in 2018 and is expected to dominate throughout the study period. The prostate cancer segment, on the other hand, would cite the fastest CAGR of 15.2% by 2026.

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The revlimid segment to rule the roost-

Based on top selling drugs, the revlimid segment garnered the major share in 2018, holding 9% of the total market and is anticipated to maintain its top status during the forecast period. Simultaneously, the opdivo segment would showcase the fastest CAGR of 13.3% throughout 2019–2026.

North America to lead the trail in terms of revenue-

Based on geography, North America accounted for more than half of the total market share in 2018 and is projected to maintain the lion’s share till 2026. At the same time, the region across Asia-Pacific is anticipated to garner the fastest CAGR of 10.4% during the estimated period.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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