Cancer Drug Market Global Demand, Competitive Landscape and Business Outlook 2021 to 2030

The Global Cancer Drug Market size valued at USD 112.73 billion in 2019, and is predicted to reach USD 215.11 billion by 2030, with a CAGR of 5.9%, from 2020-2030.

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Competitive Landscape

The cancer drug market is highly competitive and consists of various market players. Some of the major market players include Astellas Pharma Inc., AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca PLC, f. Hoffmann-La Roche ltd., Celgene Corporation, Merck & Co., Inc., Johnson & Johnson (Janssen Global Services, LLC,), Pfizer Inc., and Novartis AG among others.

An upsurge in R&D activities and advancement in product technologies along with new product launches by the key players, is leading the healthcare infrastructure to new heights, thereby creating lucrative opportunities in the global cancer drug market.

For instance, in September 2019, a clinical trial study demonstrated that patients receiving Bristol-Myers Squibb’s immuno-oncology drugs OPDIVO and YERVOY as an initial treatment for advanced non-small cell lung cancer had longer life-span as compared to those undergoing normal chemotherapy.

In December 2019, Adaptimmune Therapeutics Plc., a pioneer in T-cell cancer treatment therapy and one of the major players in the global cancer drug market, announced that it has received RMAT (Regenerative Medicine Advanced Therapy) designation from the US Food and Drug Administration (FDA), for its ‘ADP A2M4,’ a therapeutic treatment for synovial sarcoma. In the same year ADP-A2M4 was granted ODD (Orphan Drug Designation) for the treatment of soft tissue sarcomas by the US FDA. RMAT opens the door for commercialization of ADP-A2M4, that shall enter the cancer drug market by 2022.

Furthermore, in January 2020, Merck, a leading company in the cancer drug market, announced that it has achieved U.S. Food and Drug Administration approval for its ‘anti-PD-1 therapy,’ monotherapy for the treatment of patients suffering from Bacillus Calmette-Guerin (BCG)-unresponsive, high-risk, non-muscle invasive bladder cancer with carcinoma in situ (CIS), with or without papillary tumors, for whom undergo cystectomy is not a feasible option or is not advisable. KEYTRUDA is a drug that can be used in combination with various drugs to treat different types of cancer. Traditionally, for the patients suffering from BCG-unresponsive, high-risk, non-muscle invasive bladder cancer with CIS, there were limited non-surgical treatment options, but Merk’s KEYTRUDA proves to be a ray of hope encouraging the medical practitioners with new treatment option in the cancer drug market.

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Market Segmentations and Scope of the Study:

The global cancer drug market share has been analyzed based on drug class, indication and geography.

Based on drug class, the cancer drug market is segmented into Chemotherapy, Targeted Therapy, Immunotherapy (Biologic Therapy), and Hormonal Therapy. Based on indication, the cancer drug market is divided into Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, and Other. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

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