Global Oncology Drugs Market Trends And Strategies Of Major Players In The Oncology Drugs Market 2021-2030
8 Mar, 2021
The oncology drugs market consists of sales of oncology drugs and related services by entities (organizations, sole traders and partnerships) that produce oncology drugs to diagnose and treat all types of cancers. This industry includes establishments that produce drugs used in chemotherapy, surgery and radio therapies for treating pancreatic cancer, breast cancer, ovarian cancer, brain tumor, and other different cancer types.
Global Oncology Drugs Market Size And Drivers:
The global oncology drugs market is expected to grow from $80.92 billion in 2020 to $84.38 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The market is expected to reach $112.14 billion in 2025 at a CAGR of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
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Trends In The Global Oncology Drugs Market
Companies in the oncology drugs market are increasingly investing in technologies such as artificial intelligence (AI) to save time and reduce research and development costs. AI is the simulation of human intelligence processes by machines, especially computer systems, which has the potential to surpass human intelligence levels. This technology helps to analyze large sets of chemical and biological data to identify potential drug candidates with higher success rates and at a quicker pace when compared to human analysis. The technology also helps in speeding up the patient recruitment process by matching cancer patients with the most relevant clinical trials, thus lowering clinical trial costs.
Global Oncology Drugs Market Segments:
The global template market is further segmented based on type, distribution channel, route of administration, drug classification, mode of purchase and geography.
By Type:Lung Cancer Drugs, Pancreatic Cancer Drugs, Breast Cancer Drugs, Prostate Cancer Drugs, Ovarian Cancer Drugs, Colorectal Cancer Drugs, Gastric Cancer Drugs, Kidney Cancer Drugs, Brain Tumor Drugs, Thyroid Cancer Drugs, Skin Cancer Drugs, Bladder Cancer Drugs, Cervical Cancer Drugs, Blood Cancer Drugs, Others (Kaposi Sarcoma, AIDS-Related Lymphoma, Anal Cancer, Bone Cancer, Retinoblastoma, Testicular Cancer, Hepatocellular (Liver) Cancer, Mouth Cancer, Neuroblastoma).
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others.
By Route Of Administration: Oral, Parenteral, Others.
By Drug Classification: Branded Drugs, Generic Drugs.
By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs.
By Geography:The global template market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global oncology drugs market, accounting for 35% of the total market.
Read More On The Report For The Global Oncology Drugs Market At:https://www.thebusinessresearchcompany.com/report/oncology-drugs-global-market-report
Oncology Drugs Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides template market overviews, analyzes and forecasts market size and growth for the global template market, template market share, template market players, template market segments and geographies, template market’s leading competitors’ revenues, profiles and market shares. The template market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.