Global Anticancer Drugs Market to Surpass Value of US$155.6 Bn: Demand for Targeted Drugs to Remain Resilient through 2025

The incidence rate of several forms of cancer has significantly swelled across the globe in the past few years. With nearly 1 in 6 deaths across the globe caused due to cancer, the large group of diseases that come under the purview of cancer, affecting any part of the body, have witnessed massive attention from healthcare bodies and pharmaceutical companies in the past years. Presently, several research and development attempt made by a large number of pharmaceutical companies to produce beneficial anticancer drugs. This could aid the expansion of the global anticancer drugs market over the next few years, finds a new report added to the massive database of Market Research Hub (MRH). The study titled "Anticancer Drugs Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025" is a combination of primary and secondary research.

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It is well-known that cancer is one of the most dangerous diseases. Also, it is the second-leading cause of death in the United States. The mounting rate of incidence of cancer in the past few years is the key factor aiding the overall development of the global anticancer drugs market. As per the study key findings, global anticancer drugs market was valued at US$85.0 bn in 2016 and is projected to expand at a CAGR of about 6-7% from 2017 to 2025. If the projections hold true, the market could rise to a valuation of US$155.6 bn by 2025.

Research Key Inclusions

The study mainly offers a comprehensive assessment of this market to readers by examining the trends, driving forces, restraints, and opportunities and the impact of these factors on the demand for anticancer drugs between 2017 and 2022. Geographically, the research study broadly categorizes the global anticancer drugs market into North America, Europe, Latin America, Asia Pacific and the Middle East and Africa (MEA). In order to provide an insight into the current and expected demand for anticancer drugs, the study also analyzes the market on the basis of the current and forthcoming trends in each of the regions. Market size assessments involved in-depth study of features of different type of drugs, therapies and cancer types.

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It has been analyzed that rising awareness towards cancer diagnosis and treatment, the introduction of novel pipeline drugs and therapies, rise in cancer awareness programs such as breast cancer screening are expected to have a positive impression on the growth of global anticancer drugs market during the forecast period. Geographically, North America and Europe are the leading regional markets with promising revenue opportunity for the global market. On the basis of cancer types, the lung cancer segment is expected to expand at the fast rate due to high prevalence of the disease worldwide. Moreover, in terms of drug type, the segment of targeted drugs held over 40% of the global anticancer drugs market in 2016, which is anticipated to remain constant till 2025.

Moving further, the study includes the profiles of key players in the global anticancer drugs market and the strategies adopted by them to sustain in the competition. Key companies profiled in the report include AstraZeneca, F. Hoffmann-La Roche Ltd, Merck & Co., Eli Lilly and Company, CELGENE CORPORATION, Novartis AG, Pfizer Inc, Amgen Inc, Bayer AG, Takeda Pharmaceutical Company Limited, Inc. etc.

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