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Metastatic Cancer Drugs Market to Reach $136.9 Billion, Globally, by 2032 at 7.3% CAGR | Johnson & Johnson, Sanofi S.A., Bristol-Myers Squibb Company
Metastatic Cancer Drugs Market Research, 2032
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Increase in prevalence of metastatic cancer cases worldwide, ongoing advancements in cancer detection and diagnosis, and increase in adoption of personalized medicine has revolutionized the field of healthcare, particularly in the treatment of metastatic cancer are the factors that drive the growth of the global metastatic cancer drugs market. However, adverse effects of medications used for treating metastatic cancer is hampering the metastatic cancer drugs market growth. On the contrary, the high growth potential in untapped emerging economies and increase in the number of pipeline drugs are expected to offer remunerative opportunities for expansion of the metastatic cancer drugs market during the forecast period.
The targeted therapy segment to maintain its leadership status throughout the forecast period
Based on therapy, the targeted therapy segment held the largest share in 2022, accounting for nearly two-third of the global metastatic cancer drugs market revenue, owing to rise in adoption of targeted therapy in metastatic cancer treatment. On the other hand, immunotherapy therapy is projected to manifest the highest CAGR of 7.7% during forecast period, owing to rise in regulatory approvals, clinical success of immunotherapy and use of immunotherapy in aggressive metastatic cancer subtypes such as triple-negative breast cancer (TNBC).
The breast cancer segment is anticipated maintain its leadership status throughout the forecast period
Based on indication, the breast cancer segment held the largest share in 2022, accounting for more than one-fourth of the global metastatic cancer drugs market revenue, owing to rise in number of breast cancer cases diagnosed and wide availability of novel therapeutics for metastatic breast cancer treatment. On the other hand, lung cancer segment is expected to register highest CAGR of 8.1% during the forecast period owing to increasing number of metastatic non-small cell lung cancer (NSCLC) cases, and rise in regulatory approvals.
The hospitals segment to maintain its lead position during the forecast period
Based on distribution channel, the hospital pharmacies segment accounted for the largest share in 2022, accounting for more than half of the global metastatic cancer drugs market revenue owing to availability of wide range of specialized metastatic cancer drugs, including novel therapies and clinical trial medications. However, drug stores and retail pharmacies segment is projected to register highest CAGR of 7.6% during the forecast period, owing to accessibility of retail pharmacies everywhere and large chain of distribution networks.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than half of the global metastatic cancer drugs market revenue, owing to presence of large patient population suffering from metastatic cancer, strong presence of key players, ease of drug availability, well developed healthcare infrastructure, favorable reimbursement policies in healthcare system, higher number of research, development, and innovation activities, and upsurge in adoption of advanced therapeutics for metastatic cancer. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.1% from 2023 to 2032, owing to increase in investments for development of anti-cancer agents, increase in number of metastatic cancer cases, and rise in awareness related to available treatment options, thereby driving the growth of market during the forecast period.
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Leading Market Players: -
Bristol-Myers Squibb Company
Merck and Co., Inc.
AstraZeneca Plc
Novartis AG
Eli Lilly and Company.
Pfizer Inc.
F. Hoffmann-La Roche Ltd.
Johnson and Johnson
Amgen Inc.
Sanofi S.A.
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