Growing geriatric population are fuelling the market for cancer therapeutics

North America cancer therapeutics

The global cancer therapeutics and supportive care drugs market is predicted to cross USD224.0 billion by 2024, growing at a CAGR close to 9.7% between the forecast period of 2017e and 2024f, which was valued at USD118.0 billion in 2016. The abnormal growth of cells in the living body is called as cancer or malignancy. More than 100 kinds of cancers are prevalent in the world such as breast cancer, lung cancer, skin cancer, throat cancer, prostate cancer, lymphoma and others. The symptoms vary for each type of cancer, and the treatment of cancer includes chemotherapy, radiation, and/or surgery.

A large number of new pharmaceuticals that comprise molecular entities (NMEs) and new Biologic License Applications (BLA) were approved in 2015. There were approvals close to 45 NMEs and BLAs in the year, which were more than the approvals in 2014 and 2013. 16 out of those 45 NMEs and BLAs are offering treatments to cancer patients improving the treatment procedure and life expectancy of the sufferers. The growing adoption of biotechnology in the discovery of anticancer drugs along with immunotherapies or monoclonal antibodies, adoptive-cell therapies, and new vaccines are changing the process of oncology drug development.

Various new options in the treatment in the last five years and the increasing adoption of technology in the healthcare infrastructure will continue to increase in the future owing to the strong product portfolio of multiple pharmaceutical companies of the world. Several growth drivers like innovations in the drug discovery, launch of new products in the market with government approvals, rise in the number of cancer affected victims, new treatment options in the market and the growing geriatric population are fuelling the market for cancer therapeutics. Moreover, the changing lifestyles of the people, growing health awareness and the rise in the demand for scar less or invasive treatments are also expected to propel the market in the years to follow.

On the contrary, factors like strict regulatory compliances that involves a lot of time and energy, and expensive drug prices are hindering the market growth. However, the increasing innovations in the cancer treatment and healthcare will unfold new growth opportunities for the cancer therapeutics and supportive drugs.

North America comprising the USA, Canada and Mexico is the global leader in the cancer therapeutics and supportive care drugs market owing to the sophisticated healthcare facilities, increasing number of cancer cases and proper government reimbursements. Latin America also offers huge future potential with the rising cancer cases in the countries like Brazil, Argentina, and others.

 Report Highlights:

The report delivers a strategic analysis of the global market for cancer therapeutics and supportive care drugs and growth forecast for the period from 2017e – 2024f. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type. It also covers geographical analysis of the market with growth forecast for the period of 2017e – 2024f. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.

Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in global cancer therapeutics market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.

Companies profiled:

The company profile section includes detailed analysis of some of the key players such as Abbott Laboratories, AstraZeneca plc, Astellas Pharma Inc., Bristol-Myers Squibb, Johnson & Johnson, Eli Lilly, Novartis, Pfizer Inc., Sanofi, AbbVie, Inc., Teva Pharmaceuticals, Takeda Pharmaceuticals, etc.

Contact Author:
Anand Sai
Independent Research Consultant
Market Reports Web

About Anand Sai 87 Articles
Anand Sai, A Research Consultant with 5+years of experience in handling research operations of various domains.

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