The global cancer therapy market was valued at USD 136,254.35 million in 2018, and is estimated to be valued at USD 220,701.26 million in 2024, witnessing a CAGR of 8.37%. Certain factors that are driving the market growth include increasing Patient Assistance Programs (PAPs), increasing government initiatives for cancer awareness, rising prevalence of cancer worldwide, and strong R&D initiatives from key players.
Global Cancer Therapy Market This market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Scope Of The Report
As per the scope of the report, cancer therapies are drugs that block the growth and proliferation of cancer, by interfering with specific molecules, such as DNA or proteins, which are involved in the growth or expansion of cancerous cells. These therapies include surgery, radiation therapy, chemotherapy, immunotherapy, etc.
Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
Amgen Inc., AstraZeneca PLC, Bayer AG, Johnson and Johnson, Merck & Co. Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, Novartis AG, Pfizer Inc.
More than 45 million Americans do not have health insurance and millions more are underinsured; eight out of 10 uninsured people are from working families. Among those with health insurance, one out of 10 individuals, 65 years old or younger, and one in three persons over 65 years do not have prescription drug coverage. Hence, Patients Assistance Programs (PAPs) have emerged in an effort to help patients who are lacking health insurance or prescription drug coverage get the medication they need. These programs are provided by pharmaceutical companies to provide free or low-cost prescription drugs to patients who are suffering from serious illnesses.
Several big pharmaceutical companies, such as Pfizer and Eli lily, have also started these programs to help uninsured patients who are suffering from chronic diseases. Thus, a large number of uninsured patients, suffering from cancer, can also undergo cancer therapies, which is likely to augment the growth of the market.
Market Industry Trends-
The Target Therapy Segment is Expected to show the Fastest Growth in the Forecast Period
The target therapy segment is expected to show the highest CAGR of 9.68% during the forecast period. The target therapy includes hormone therapies, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, immunotherapies, signal transduction inhibitors, and toxin delivery molecules. Targeted therapy is attaining importance due to its specificity toward cancer cells, while sparing the toxicity to off-target cells.
The breast cancer segment is belived to account for the largest market size over the forecast period. This is majorly attrobuted to the higher and continuously increaisng prevalence of breast cancer acoss the world. As per estimates provided by the Breast Cancer Organization in 2018, it is estimated that over 2,66,120 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, along with 63,960 new cases of non-invasive (in situ) breast cancer.
Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Global, Argentina, Rest of Latin America)
Middle East & Africa
North America Currently Dominates the Cancer Therapy Market and is Expected to Continue in the Forecast Period
North America currently dominates the market for cancer therapy and is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the increased adoption of cancer therapy. The United States holds majority of the market in the North American region, due to the rising prevalence of cancer in the country. According to the National Cancer Institute (NCI), in 2016, 1.6 million people suffered from cancer, and around 0.5 million people died from cancer. This figure indicates that the prevalence of cancer is rapidly increasing in the United States.
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Major points covered in this research are:-
- Cancer Therapy Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2024), Competition by Manufacturers
- Global Market Size (Value) of Cancer Therapy (2019-2024)
- Global Cancer Therapy Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)
- Global Cancer Therapy Production, Revenue (Value), Price Trend by Type
- Global Cancer Therapy Market Analysis by Application
- Global Cancer Therapy Manufacturers Profiles/Analysis
- Cancer Therapy Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Global Cancer Therapy Market Forecast (2019-2024)
- Competitive Landscape
- Research Findings and Conclusion
Finally, this Cancer Therapy report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Cancer Therapy product development and gives an outline of the potential Global market.
Irfan Tamboli (Sales)
Phone: + 1704 266 3234