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Generic Oncology Drugs Market Competitive Dashboard, Segmentation, Key Players And Forecast To 2033
Generic Oncology Drugs Market
As per the report, the generic oncology drugs market size has grown strongly in recent years. It will grow from $25.64 billion in 2023 to $27.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The generic oncology drugs market size is expected to see strong growth in the next few years. It will grow to $35.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
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Surge In Cancer Cases Fuels Expansion Of Generic Oncology Drugs Market
A significant rise in cancer patients is expected to propel the growth of the generic oncology drugs market going forward. Cancer refers to uncontrolled cell growth, which impacts various organs and contributes to significant morbidity and mortality worldwide. The availability of cost-effective generic oncology drugs plays a crucial role in cancer treatment by increasing access to essential therapies, promoting market competition, and reducing healthcare costs. For instance, in January 2022, according to the National Cancer Institute (NCI), a US-based government agency, in the United States, approximately 5.4% of the population, or 18.1 million individuals, were cancer survivors. In addition, 623,405 people were living with metastatic breast, prostate, lung, colorectal, or bladder cancer or metastatic melanoma in 2022, projected to rise to 693,452 by 2025. Therefore, the significant rise in cancer patients is driving the growth of the generic oncology drugs market.
Novel Formulations Transforming Generic Oncology Drugs Market
Novel formulations are a key trend gaining popularity in the generic oncology drugs market. Major companies operating in the generic oncology drugs market are focused on developing novel drug delivery systems, modified-release formulations, and alternative dosage forms to improve patient compliance and sustain their position in the market. For instance, in January 2023, MSN Laboratories Private Limited, an India-based pharmaceutical company specializing in generic drugs, launched Palborest, the world's first generic Palbociclib tablets for advanced breast cancer treatment. It is a generic breast cancer drug that offers a cost-effective alternative to the innovator tablet while maintaining bioequivalence. Its tablet dosage form provides a notable advantage over capsules as it can be taken with or without food and co-administered with proton pump inhibitors or antacids. Furthermore, the tablet formulation is free from lactose and gelatin, enhancing the drug's efficacy.
The generic oncology drugs market covered in this report is segmented -
1) By Molecule Type: Large Molecule, Small Molecule
2) By Route of Administration: Oral, Parenteral
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacies, Managed Care Institutions
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Major companies operating in the generic oncology drugs market report are Pfizer Inc., AbbVie, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca Plc, Abbott Laboratories, Fresenius Kabi AG, GlaxoSmithKline PLC, Eli Lilly and Company, Merck & Co. Inc., Becton Dickinson and Company, Baxter International Inc., Mylan N.V., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Hikma Pharmaceuticals, Endo Pharmaceuticals Inc., Aspen Pharmacare Holdings Limited, Lupin Limited, Towa Pharmaceutical Co Ltd, Torrent Pharmaceuticals Ltd., Cadila Healthcare Ltd., Accord Healthcare
Contents of the report:
1. Executive Summary
2. Generic Oncology Drugs Market Report Structure
3. Generic Oncology Drugs Market Trends And Strategies
4. Generic Oncology Drugs Market - Macro Economic Scenario
5. Generic Oncology Drugs Market Size And Growth
…..
27. Generic Oncology Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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