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| Global Cancer Drugs Market Size |
Cancer drugs are pharmaceutical drugs used in chemotherapy for treating various
types of cancers. They work by slowing or stopping the growth of cancer cells
which helps in shrinking tumors. Drugs such as alkylating agents, antitumor
antibiotics, antimetabolites, plant alkaloids, topoisomerase inhibitors,
monoclonal antibodies etc are used to cure different types of cancers.
The global
Cancer Drugs Market is estimated to be valued at US$ 154.04 Bn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key
trends:
The increased spending on oncology globally has accelerated the growth of the
cancer drugs market over the forecast period. Rising healthcare expenditure in
developing economies and growing awareness about cancer treatment has
contributed significantly to increased investment in cancer research leading to
discovery and development of novel targeted therapies. Government initiatives
aimed at improving access to cancer treatment alongside development of low-cost
biosimilars has made cancer drugs more affordable in low and middle-income
countries enhancing the uptake. Further, strong pipeline of novel targeted
therapies and combination therapies in treating various cancers bodes well for
market growth over the coming years.
Segment
Analysis
The global Cancer Drugs market is dominated by oncology drugs segment. These
drugs account for over 50% market share as they are the most effective
medication available for treating various cancers like blood cancer, breast
cancer, lung cancer etc. The market for targeted therapy drugs is the fastest
growing segment as they specifically target molecular changes in cancer cells
and have lesser side effects compared to other traditional chemotherapy drugs.
Key Takeaways
Global
Cancer Drugs Market Size is expected to witness high growth over the
forecast period of 2023 to 2030.
Regional
Analysis: North America accounts for the largest market share currently due to
growing prevalence of cancer and presence of major players in the region.
However, the Asia Pacific region is poised to grow at the highest CAGR during
the forecast period owing to increasing healthcare investments and rising
awareness about cancer treatment.
The global Cancer Drugs market is composed of several key players catering to a
wide patient pool suffering from various cancers. Key players operating in the
Cancer Drugs market are U.S. Silica Holdings Inc., Sibelco Group, Fairmount
Santrol Holdings Inc., Emerge Energy Services LP, Badger Mining Corporation,
Covia Holdings Corporation, Preferred Sands LLC, Hi-Crush Partners LP,
SCR-Sibelco N.V., Pattison Sand Company. These companies provide a broad
portfolio of oncology drugs as well as drug delivery systems to cater to
various indications. They are focusing on strategic partnerships and
acquisitions to strengthen their market position and benefit patients through
next-gen cancer treatment options.
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