Press release
Generic Oncology Drugs Market Report: Global Industry Trends, Size, Value and Forecast to 2027 – Aurobindo, Intas Pharmaceuticals, Zydus Cadila, Glenmark
Generic Oncology Drugs Market to 2027
The key factors such as increasing prevalence of cancer across the globe, growing generic drug launches and benefits offered by the generic drugs are likely to boost the market growth, whereas, inclination towards the personalized medicine for cancer is likely to be a prevalent trend in the future years. Asia Pacific generic oncology drugs market is expected to grow at highest rate during the forecast period. The growth is contributed by the key driving factors such as development of generics at mass scale, increasing exports by Indian manufacturers, new trade agreements by Asian companies with international players for sales, distribution as well as research collaborations as well as launch of innovative and novel generics for cancer treatment. The market for generic oncology drugs in the Asia Pacific region is expected to reach US$ 7,692.32 Mn in 2027 from US$ 4,299.63 Mn in 2018. The growth rate of the market in the region is estimated to be 6.9% during the forecast period.
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Top Market Players
Some of the prominent players operating in the generic oncology drugs market are Teva Pharmaceutical Industries Ltd., Sandoz International GMBH, Glenmark, Sun Pharmaceutical Industries Ltd, MSN Laboratories, Aurobindo Pharma, Intas Pharmaceuticals, Zydus Cadila, Mylan N.V., Cipla Inc., Fresenius Kabi AG, and Dr. Reddy’s Laboratories Ltd., among others.
The global generic oncology drugs market, based on the molecule type was segmented into small molecule and large molecule. In 2018, the small molecule segment held a largest market share of 87.67% of the generic oncology drugs market, by molecule type. The advantages of small molecules in terms of their complexity and molecular size that can traverse throughout reach to target site and show its effective action as well as advent of personalized drug development are the major factors to likely account for the growth of the segment over the years to come. However, the same segment is expected to witness the highest CAGR of 6.6% over the coming years.
Cancer is one of the leading cause of deaths across the globe and is extremely affecting the quality of life. Thus, cancer will be burden on society if not diagnosed and treated on time. According to the World Health Organization in 2018, approximately, 9.6 million deaths across the globe were due to cancer. Furthermore, the National Cancer Institute predicted that in 2018, approximately 1,735,350 new cancer cases will be diagnosed in the US. Furthermore, Asia Pacific region is also facing the problem of growing prevalence of cancer. The top 15 countries with Cancer prevalence are: Japan, Taiwan, Singapore, South Korea, Malaysia, Thailand, China, Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, India, Laos, and Cambodia. According to the National Institute of Cancer Prevention and Research (NICPR), in 2018, in India total deaths due to cancer were 784,821. These statistics determine an increase in the demand for advanced cancer diagnostics in various regions across the globe. Thus driving the growth of generic oncology drugs during the forecast period.
GLOBAL GENERIC ONCOLOGY DRUGS MARKET –
MARKET SEGMENTATION
Global Generic Oncology Drugs Market – By Molecule Type
• Large Molecule
• Small Molecule
Global Generic Oncology Drugs Market – By Application
• Lung Cancer
• Stomach Cancer
• Colorectal Cancer
• Breast Cancer
• Prostate Cancer
• Liver Cancer
• Kidney Cancer
• Cervical Cancer
• Others
Global Generic Oncology Drugs Market – By Region
• North America
• U.S.
• Canada
• Mexico
• Europe
• France
• Germany
• UK
• Spain
• Italy
• Asia Pacific (APAC)
• China
• India
• Japan
• Australia
• South Korea
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• UAE
• South America (SAM)
• Brazil
• Argentina
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defence.
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