Global Oncology Drugs Market Trends And Strategies Of Major Players In The Oncology Drugs Market 2020
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The global oncology drugs market reached a value of nearly $167.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 9.8% since 2015. The market is expected to decline from $167.9 billion in 2019 to $149.9 billion in 2020 at a rate of –11%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to grow slightly from $201.1 billion in 2021 to $284.5 billion in 2023 at a CAGR of 9.7%. The market is expected to stabilize and reach $284.5 billion in 2025 and $412.9 billion in 2030. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the oncology drugs market during the forecast period.
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, gastric cancer, kidney cancer, brain tumor, and other cancer types.
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The global oncology drugs market is further segmented based on type, distribution channel, route of administration, drug classification, drug class type and geography.
By Type: Blood Cancer, Breast Cancer, Lung Cancer, Prostate cancer, Colorectal Cancer, Cervical cancer, Kidney cancer, Gastric Cancer, Brain Tumor, Skin Cancer, Ovarian Cancer, Bladder Cancer, Pancreatic Cancer, Thyroid cancer, Others
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 Drug Class type: Targeted Therapy, Immunotherapy (Biologic Therapy), Chemotherapy, Hormonal Therapy.
By Geography: The global musculoskeletal disorders drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. By Geography: The global oncology drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American oncology drugs market accounts for the largest share of 41.2% in the global oncology drugs market 2019.
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Trends In The Oncology Drugs Market
Drug manufacturers are investing in developing personalized cancer vaccines, and few have reached clinical trial phases. Pharmaceutical companies are combining genetic sequencing and precision medicine to create new drug therapies and cancer treatments that are designed to treat specific patients.
Oncology Drugs Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides oncology drugs market overviews, analyzes and forecasts market size and growth for the global oncology drugs market, oncology drugs market share, oncology drugs market players, oncology drugs market segments and geographies, oncology drugs market’s leading competitors’ revenues, profiles and market shares. The oncology drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.