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Surge In Cancer Cases Fuels Expansion Of Generic Oncology Drugs Market: The Driving Engine Behind Generic Oncology Drugs Market Evolution in 2025
Generic Oncology Drugs Market
Generic Oncology Drugs Market Size Growth Forecast: What to Expect by 2025?
The market size of generic oncology drugs has seen robust growth over recent years. It is projected to escalate from $27.24 billion in 2024 up to $29.15 billion in 2025, with a compounded annual growth rate (CAGR) of 7.0%. The expansion during the historic era is the result of patent terminations, controlling the cost of healthcare, a rise in cancer occurrences, coverage of health insurance, and prescribing habits of physicians.
How Will the Generic Oncology Drugs Market Size Evolve and Grow by 2029?
In the coming years, the market size for generic oncology drugs is projected to witness robust growth. The market is anticipated to reach $38.16 billion by the year 2029, with a compound annual growth rate (CAGR) of 7.0%. Factors such as biosimilar approvals, intensifying competition, telemedicine and remote care, customised treatment methods, and pricing factors are expected to contribute to the growth during the forecast period. The period is also likely to be marked by trends like heightened pharmacovigilance, regulatory simplification, emphasis on combination therapy, precision in generic oncology drug production, and wider market access.
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What Drivers Are Propelling the Growth of Generic Oncology Drugs Market Forward?
The projected increase in the number of cancer patients is anticipated to accelerate the growth of the generic oncology drugs market. Cancer is characterized by unregulated cell proliferation affecting various organs, leading to considerable morbidity and mortality globally. The presence of affordable generic oncology drugs is pivotal in cancer management as it broadens the scope of essential therapies, fosters market rivalry, and lowers healthcare expenses. For example, the National Cancer Institute (NCI), a US government agency, reported in January 2022 that about 5.4% of the US population, or 18.1 million people, were cancer survivors. Additionally, 623,405 people were coping with metastatic cancers like breast, prostate, lung, colorectal, bladder or metastatic melanoma in 2022. This figure is estimated to escalate to 693,452 by 2025. Thus, the significant increase in cancer patients spurs the expansion of the generic oncology drugs market.
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Which Emerging Trends Are Transforming the Generic Oncology Drugs Market in 2025?
Innovative formulations are increasingly being recognized as a pivotal trend in the market for generic oncology treatments. To remain competitive, prominent firms in this market are channeling their focus into creating advanced drug delivery systems, altered-release formulations, and alternative dosage methods that can enhance patient adherence. For example, in January 2023, MSN Laboratories Private Limited, a firm from India known for its dedication to generic medicine, introduced Palborest to the market. This marked the debut of the world's first generic Palbociclib tablets, designed for the treatment of advanced breast cancer. Operating as a cost-effective substitute to the originating tablet but maintaining equal effectiveness, the tablet form of Palborest also affords patients the convenience of consuming it with or without food and alongside proton pump inhibitors or antacids. Additionally, the formulation of the tablet does not include lactose or gelatin, which further reinforces the drug's potency.
What Are the Key Segments in the Generic Oncology Drugs Market?
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
Subsegments:
1) By Large Molecule: Monoclonal Antibodies, Biologics, Biosimilars
2) By Small Molecule: Chemotherapeutics, Targeted Therapy Agents, Hormonal Therapy Drugs
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Who Are the Key Players Shaping the Generic Oncology Drugs Market's Competitive Landscape?
Major companies operating in the generic oncology drugs market include 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., 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
What Geographic Markets Are Powering Growth in the Generic Oncology Drugs Market?
North America was the largest region in the generic oncology drugs market in 2024. The regions covered in the generic oncology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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