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Anti-Neoplastic Agents Market Key Drivers, Insights, Outlook, Overview And Market Research Report 2024-2033
Anti-Neoplastic Agents Market
The anti-neoplastic agents market size is expected to see strong growth in the next few years. It will grow to $184.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to patient education and awareness, government initiative, growing demand for personalized cancer treatment, growing focus on quality of life in cancer treatment. Major trends in the forecast period include advancements in oncology research, development of targeted therapies, biotechnology innovation, advancements in diagnostic tools.
Market Overview -
Anti-neoplastic agents refer to drugs that inhibit or destroy abnormal tissue growth, specifically targeting and combating cancerous cells in the body. They have a vital role in cancer treatment by disrupting the processes involved in tumor development and progression.
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Rising Cancer Cases Propel Antineoplastic Agent Market Growth
The increasing number of cancer cases is expected to propel the growth of the antineoplastic agent market going forward. Cancer is a category of illnesses that can develop in nearly any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their normal boundaries and either spread to other organs or invade neighboring body parts. Antineoplastic agents play an essential role in cancer treatment by inhibiting cancer cell growth and division through various mechanisms, including DNA (Deoxyribonucleic acid) damage, cell cycle disruption and interference with crucial cellular pathways. For instance, in 2023, according to the American Cancer Society Inc., a US-based non-profit health group, 1.9 million new cancer cases are expected to be diagnosed in the US, an increase from 1.8 million new cancer cases diagnosed in 2020. Further, 609,820 cancer-related deaths are anticipated in 2023, an increase from 606,520 in 2020. Therefore, the increasing number of cancer cases is driving the growth of the antineoplastic agent market.
Competitive Landscape -
Major players in the anti-neoplastic agents market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Fresenius SE & Co. KGaA, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Eisai Co. Ltd., Sun Pharmaceutical Industries Limited, Ipsen SA, Cipla Limited, Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Limited, Hikma Pharmaceuticals PLC, Gland Pharma Limited, Zydus Lifesciences Limited, Glenmark Pharmaceuticals Ltd., Jubilant Life Sciences Ltd., Lantheus Holdings Inc., Hutchison Medipharma Ltd., Natco Pharma Ltd., Accord Healthcare Limited, Qilu Pharmaceutical Co. Ltd.
Leading Companies Drive Antineoplastic Agent Market Through Clinical Advancements
Major companies operating in the anti-neoplastic agent market are focused on developing clinical practices to sustain their position in the market. For instance, in March 2022, Novartis AG, a Switzerland-based pharmaceutical corporation, announced the Food and Drug Administration's (FDA) approval of Pluvicto, a first targeted radioligand therapy for the treatment of progressive, PSMA (Prostate-specific membrane antigen) positive metastatic castration-resistant prostate cancer (mCRPC). It is recommended to provide 7.4 GBq (200 mCi) of Pluvicto intravenously every six weeks for a maximum of six doses or until disease progression or intolerable toxicity, whichever comes first. Based on PSMA expression in tumors, patients with previously treated mCRPC should be chosen for treatment with Pluvicto utilizing Locametz or another authorized PSMA-11 imaging agent.
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Key Segments -
The anti-neoplastic agents market covered in this report is segmented -
1) By Type: Alkylating Agents; Antimetabolites; Hormones And Antagonists; Miscellaneous
2) By Disease Type: Gastrointestinal Cancer; Prostate Cancer; Lung Cancer; Breast Cancer; Other Disease Types
3) By End User: Hospitals; Clinics; Cancer Rehabilitation Centers; Ambulatory Surgical Centers
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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