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Oncology Drugs Market to Exhibit a CAGR of 11.6% and Hit USD 394.24 Billion by 2027; Burgeoning Pharmaceutical Industry to Create Lucrative Opportunities, states Fortune Business Insights™

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Pune, India, March 04, 2021 (GLOBE NEWSWIRE) — The global oncology drugs market size is expected to reach USD 394.24 billion by 2027, exhibiting a CAGR of 11.6% during the forecast period. The growing prevalence of cancer around the world will spur opportunities for this market during the forecast period, states Fortune Business Insights, in a report, titled “Oncology Drugs Market Size, Share & COVID-19 Impact Analysis, By Drugs Class (Cytotoxic Drugs, Targeted Drugs, Hormonal Drugs, and Others), By Therapy (Chemotherapy, Targeted Therapy, and Immunotherapy), By Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, and Others), By Dosage Form (Solid, Liquid, and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), and Regional Forecast, 2020-2027.” The market size stood at USD 141.33 billion in 2019.
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The whole world is fighting the novel coronavirus. Sectors and industries are devasted due to the major loss caused by COVID-19 in business. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus.Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.Key Development:April 2019: Sun Pharmaceutical Industries announced the release of INFUGEM injection, which will ve used for the treatment of cancer in the US.
An Overview of the Impact of COVID-19 on this Market :The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
To get to know more about the short-term and long-term impacts of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/oncology-drugs-market-103431
The oncology drugs market highlights:An extensive study of regionsForecast value of the marketDetailed analysis of the segmentsCOVID-19 effect on the marketOngoing clinical trials
Surging Pharmaceutical Industry to Contribute Colossal DevelopmentThe ongoing technological advancement in the field of pharmacy is expected to create opportunities for the market during the forecast period. The clinical trials and various drugs in the pipeline can further facilitate the healthy growth of the industry. The growing cases of numerous types of cancer, such as lung cancer, skin cancer, prostate cancer, colon cancer, breast cancer, and others will spur demand for oncology drugs, thus enhancing market growth. According to the World Health Organization (WHO), cancer is a growing burden and the number of new cancer cases is going to rise from 18.1 million in 2018 to 29.4 million by 2040. Moreover, product launches and approvals are expected to have a tremendous impact on the market.
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Positive Impact on Oncology Drugs Market Growth During COVID-19The outbreak of COVID-19 has had a positive impact on the oncology drugs market globally. Certain market segments have witnessed a growth in demand for drugs with respect to the COVID-19 emergency. Panic buying of medications has been witnessed among the cancer patients amid lockdown.The pharmaceutical companies involved in this market have significantly improved their supply chain management, enhanced the capabilities of their R&D, and invested more their manufacturing management and quality control. For instance, according to the quarterly reports of 2020 of Roche, their global supply chain of medicines and tests remain intact and their pharmaceutical division sales increased by 7% as compared to the prior year.Rising Prevalence to Cancer to Influence Market in North AmericaThe market size in North America is expected to witness a rapid growth rate during the forecast period. The dominance in the region is attributed to the growing prevalence of cancer in the U.S. As per the National Cancer Institute, in 2020, approximately 1.8 million people will be diagnosed with cancer in the U.S.The recent product launches will aid the expansion of the market in the region. Europe is predicted to exhibit a stellar growth rate during the forecast period owing to the growing cancer burden in countries such as U.K., Germany, and France. The market in Asia Pacific is predicted to rise tremendously during the forecast period due to the rising awareness among the population regarding cancer.
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The Report Lists the Main Companies in the Market:F. Hoffmann-La Roche Ltd (Basel, Switzerland)Genentech, Inc.  (California, United States)Novartis AG (Basel, Switzerland)Pfizer Inc. (New York, United States)Bristol-Myers Squibb Company (New York, United States)GlaxoSmithKline plc. (Brentford, United Kingdom)Eli Lilly and Company (Indiana, United States)AstraZeneca (Cambridge, United Kingdom)Sanofi (Paris, France)Bayer AG (Leverkusen, Germany)Other Players
Table Of Content :IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsPrevalence of Key Indications (Lung Cancer, Breast Cancer, Prostate Cancer, etc.), By Region/CountryOverview of Different Oncology Drugs with respect to Regulatory Approvals and Clinical TrialsPricing Analysis, By Key PlayersRecent Advancements in Development of Oncology DrugsKey Industry Developments (Mergers, Acquisitions, and Partnerships)Impact of COVID-19 on Oncology Drugs MarketGlobal Oncology Drugs Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By Drug ClassCytotoxic DrugsAlkylating AgentsAntimetabolitesOthersTargeted DrugsMonoclonal AntibodiesOthersHormonal DrugsOthersMarket Analysis, Insights and Forecast – By TherapyChemotherapyTargeted TherapyImmunotherapyMarket Analysis, Insights and Forecast – By IndicationLung CancerStomach CancerColorectal CancerBreast CancerProstate CancerOthersMarket Analysis, Insights and Forecast – By Dosage FormSolidTabletsCapsulesLiquidInjectablePrefilled SyringesOthersMarket Analysis, Insights and Forecast- By Distribution ChannelHospital PharmaciesRetail PharmaciesOnline PharmaciesOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa
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Global Oncology Drugs Market Segmentation :By Drug ClassCytotoxic DrugsAlkylating AgentsAntimetabolitesOthersTargeted DrugsMonoclonal AntibodiesOthersHormonal DrugsOthersBy TherapyChemotherapyTargeted TherapyImmunotherapyBy IndicationLung CancerStomach CancerColorectal CancerBreast CancerProstate CancerOthersBy Dosage FormSolidTabletsCapsulesLiquidInjectablePrefilled SyringesOthersBy Distribution ChannelHospital PharmaciesRetail PharmaciesOnline PharmaciesOthersBy GeographyNorth America (the U.S. and Canada)Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)Latin America (Brazil, Mexico, and the Rest of Latin America)Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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