The global cancer therapeutics market is growing due to rising cancer rates, pharmaceutical collaborations, and increased research, despite high costs and side effects.
The new report by Expert Market Research titled, ‘Global Cancer Therapeutics Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global cancer therapeutics market, assessing the market based on the top selling drugs, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
The growth in the global cancer therapeutics market is rising as cancer prevalence is increasing, pharmaceutical company collaborations are on the surge, and cancer research has also been enhanced. In addition, the growing geriatric population is anticipated to drive the market. However, the rising cost of cancer treatment drug research, as well as the negative impacts of anticancer therapy, are among the factors limiting market growth. Alternatively, the rise in demand for personalised medicine and the great potential of developing countries are anticipated to offer new opportunities for market participants. Competitive pressure and consistent technical advances have resulted in product line advancements; thus, product authorizations and product innovation are two of the main planning processes used by market participants in the global cancer therapeutics market.
Industry Definition and Major Segments
Cancer therapy entails its use administration of chemotherapeutics and oncology drug treatments. It is a form of treatment that uses drugs or even other substances to identify and target specific types of cancer cells while causing less damage to normal cells. A few therapeutic approaches inhibit the activity of specific enzymes, proteins, or other molecules involved in cancer cell development.
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Based on top selling drugs, the market is divided into:
Based on application, the industry is segmented into:
On the basis of region, the market is divided into:
Market Trends
Cancer incidences are increasing, pharmaceutical companies are cooperating more, and there is more innovation in the cancer-research sector, all of which are propelling the market of the cancer therapeutics industry. The geriatric population is expected to grow during the forecast period, expanding the market for cancer therapy. Furthermore, rising demand for targeted therapies and greater investment in the health sector, mainly in developing nations, are offering new opportunities for growth for the cancer therapeutics market. Furthermore, rising government initiatives to raise cancer awareness and the growing demand for personalised medicine that provides accurate and effective results are expected to drive the market during the forecasted period.
Key Market Players
The major players in the market are AbbVie Inc. (NYSE: ABBV), Astellas Pharma Inc., Bristol Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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The article discusses the growth of the global cancer therapeutics market from 2021 to 2026.
Increasing cancer prevalence, pharmaceutical collaborations, and geriatric population growth are key drivers.
High costs of drug research and negative impacts of anticancer therapy are limiting factors.
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