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Gynecological Cancer Drugs Market Size, Trends And Global Forecast Report 2024 To 2033
Gynecological Cancer Drugs Market
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According to The Business Research Company's, The gynecological cancer drugs market size has grown strongly in recent years. It will grow from $13.87 billion in 2023 to $14.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to growing advancements in chemotherapy, hormone therapy developments, early detection and diagnosis, surgical innovations, government funding and research grants,increasing awareness and screening programs.
The gynecological cancer drugs market size is expected to see strong growth in the next few years. It will grow to $19.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing incidence rates, advancements in biomarker research, government funding and support, growing aging population, clinical trial advancements.. Major trends in the forecast period include health equity and access initiatives, advancements in diagnostic tools, combination therapies and targeted agents, telemedicine and remote monitoring, patient-centric care models, collaborations and partnerships.
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Market Drivers and Trends:
The prevalence of gynecological cancer is expected to propel the growth of the gynecological cancer drugs market going forward. Gynecologic cancer refers to any cancer that begins in a woman's reproductive organs. Gynecological cancer drugs help reduce the prevalence of gynecological cancer by treating and managing the disease, preventing recurrence, and improving patient outcomes by applying different therapies. For instance, in February 2022, according to the World Ovarian Cancer Coalition, a Canada-based not-for-profit organization, ovarian cancer affected 313,959 women worldwide in 2020. This will have increased by 42% by 2040 to 445,721; between 2020 and 2040, there will be a 51% increase in the number of women dying from ovarian cancer, from 207,252 to 313,617. Therefore, the high prevalence of gynecological cancer is driving the growth of the gynecological cancer drugs market.
Advanced therapeutics are a key trend gaining popularity in the gynecological cancer drugs market. Major companies operating in the gynecological cancer drugs market are launching innovative therapeutics to sustain their position in the market. For instance in December 2021, the UK government, through the Scottish Medicines Consortium, announced the availability of an innovative combination for women with ovarian cancer. It's the first time two ovarian cancer drugs, Olaparib (Lynparza) and bevacizumab (Avastin), are available in combination for newly diagnosed women with ovarian cancer. This combination will be available to women diagnosed with advanced, high-grade serous ovarian cancer. Through new genomic testing, tumors will be tested to see if they are more susceptible to these drugs (HRD testing).
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche AG, AbbVie Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb, Sanofi S.A., AstraZeneca, Fresenius Kabi AG, GlaxoSmithKline, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Merck KGaA, Baxter International Inc., Eisai Co. Ltd., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries, Ipsen, Dr Reddy's Laboratories, Cipla Ltd., Apotex Inc., Hikma Pharmaceuticals, Seagen Inc., CSL Vifor, Accord Healthcare, Spectrum Pharmaceuticals Inc.
Gynecological Cancer Drugs Market 2024 Key Insights:
• The gynecological cancer drugs market size is expected to see strong growth in the next few years. It will grow to $19.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Gynecological Cancer Drugs Market Set To Grow Due To Rising Prevalence Of Gynecological Cancer
• Innovative Therapeutics In Gynecological Cancer Drugs Market
• North America was the dominant region in the gynecological cancer drugs market in 2023
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