The Anticancer Drugs Market to witness a steadfast growth backed by digital transformation

The Anticancer Drugs Market is expected to grow on an irreversible note in the next 10 years. The future scenario would be data-driven healthcare. This would, in turn, widen the potential for enhancing treatment options. With interoperability taking the centre stage, program participants could access app blueprints, data templates, and security tools. Thus, the big data cloud would turn out to be kinetic. This would result in an upswing in the healthcare vertical going forward.

The Anticancer Drugs Market is expected to grow on an irreversible note in the next 10 years. The future scenario would be data-driven healthcare. This would, in turn, widen the potential for enhancing treatment options. With interoperability taking the centre stage, program participants could access app blueprints, data templates, and security tools. Thus, the big data cloud would turn out to be kinetic. This would result in an upswing in the healthcare vertical going forward.

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This report published by Persistence Market Research throws light on the revenue projections of the global market for anticancer drugs, which is estimated to reach a whopping valuation of US$ 227 Bn by the end of 2026, up from just under US$ 129 Bn in 2018. This is indicative of a growth rate of 7.4% during the period from 2018 to 2026.

Company Profiles:

F. Hoffmann-La Roche Ltd
Roche Holding AG
Celgene Corp
Novartis AG
Bristol-Myers Squibb Co
Johnson & Johnson
Merck & Co.
Eli Lilly and Company
AstraZeneca plc
Amgen Inc..

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Companies operating in the global anticancer drugs market are also seeking the necessary regulatory approvals for multiple indications to ensure a maximum return on their investment from a single molecular entity. Immuno-oncology is currently the most active area in cancer research and doctors and research scientists across the world are collaborating to develop newer ways to use immuno-oncology to treat various types of cancers. Immunotherapy is fast gaining traction in the global healthcare sector, with several successful clinical trials that have led to the recent approvals of newer anticancer drugs in the global market.

Immunotherapy is finding increasing acceptance among the global medical fraternity over conventional chemotherapy, which until now, had been the first line of treatment for cancer. Immunotherapy is considered a safer alternative to chemotherapy, and companies in the anticancer drugs market are introducing newer portfolios of early checkpoint-based immunotherapy drugs to meet the growing demands from hospitals and healthcare institutions. With key players queuing up to obtain the necessary regulatory approvals, immunotherapy is slated to grab maximum value share of the global market for anticancer drugs in the near future.

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Newer Cancer Treatment Options and an Ever-increasing Drugs Pipeline Owing to the Current Spate of Ongoing Clinical Trials to Bode Well for the Anticancer Drugs Market

In the last five years, 70 new cancer treatment options have been introduced in the global market and are used by healthcare facilities to treat more than 20 different types of tumors. Innovation is fueling the pipeline of oncology drugs in clinical development and this is only expected to increase in the near future. The pipeline of anticancer drugs in different stages of clinical development has expanded significantly in the last decade, with clinical trials for immunotherapies being the fastest growing within oncology R&D and likely to lead the drugs pipeline by 2020.

This indicates the rising demand for anticancer drugs in the global healthcare sector, pushing companies to speed up drugs development and clinical trials and also seek the necessary regulatory approvals. This factor is expected to augment revenues in the global anticancer drugs market.

Manufacturers of Anticancer Drugs to Expand Their Product Portfolio Through Strategic Partnerships

One of the key trends being observed in the anticancer drugs market is the increasing number of partnerships between large biopharmaceutical companies and relatively smaller pharmaceutical companies to retain competitive edge and to beef up their product pipeline. Through partnerships and licensing deals, big pharmaceutical companies are acquiring new product lines from smaller companies while also continuing to enhance their in-house drug development strategies.

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