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Oncology Drugs Market Emerging Growth, Outlook and Opportunity Analysis, 2018–2026
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The global oncology drugs market size is estimated to be valued at US$ 77.3 billion in 2018 and is expected to witness a CAGR of 12.3% over the forecast period (2018–2026).

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Oncology Drugs Market is expected to have a highly positive outlook for the next five years 2018–2026 according to a recently released Oncology Drugs Market research report. The major takeaways in the report are product segment analysis, application segment analysis, regional segment analysis and data of the major Oncology Drugs Market players from around the world. The report presents an introductory as well as detailed information about the Oncology Drugs Market through a well-organized layout divided into easy to understand chapters.

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Increasing number of drugs are being approved for treating various types of cancer. According to U.S. FDA, around 16 new drugs were approved in 2017 for treatment of cancer. Moreover, by mid November 2018, eight more drugs were approved for cancer. Notable drug approvals from 2017 include,. Yescarta from Kite Pharmaceuticals that consist of the axicabtagene ciloleucel, for the treatment of relapsed or refractory large B-cell lymphomas (approved in October 2017), Kymriah (tisagenlecleucel) from Novartis for the treatment of refractory B-cell precursor acute lymphoblastic leukemia (approved in August 2017),. Imfinzi (durvalumab) from AstraZeneca for the treatment of advanced or metastatic urothelial carcinoma and stage III non-small cell lung cancer (approved in May 2017)

Cancer is one of the deadliest disease with less chance of survival as the disease progresses. International Agency for Research on Cancer published GLOBOCAN 2018 report, which estimates cancer incidence and mortality rate. This report focus on geographic variability of cancer incidence rate and mortality rate across 20 world regions. This report projected 18.1 million new cancer cases (17.0 million excluding nonmelanoma skin cancer) and 9.6 million cancer deaths (9.5 million excluding nonmelanoma skin cancer) in 2018. Therefore, high prevalence of cancer is expected to be major factor for growth of the global oncology drugs market.

Lorbrena (lorlatinib) Pfizer, for the treatment of ALK-positive metastatic non-small cell lung cancer (approved in November 2018),. Increasing number of blockbuster drugs going off patent is expected to boost entry of biosimilars and generic versions of oncology drugs.

For instance, Avastin (bevacizumab), which is a Humanized Monoclonal Antibody product for Colorectal, lung, breast, glioblastoma, kidney, and ovarian cancer by Roche is going off patent by July 2019 in U.S.

Market Dynamics

Increasing drug approvals and robust pipeline for novel therapeutic agents are some of the key factors driving the oncology drugs market growth. For instance, in August 2017, Tisagenlecleucel (Kymriah), a drug developed by Novartis was approved by the U.S. Food and Drug Administration (FDA) for the treatment of pediatric and young adults with refractory or relapsed Acute Lymphoblastic Leukemia (ALL).

Moreover, increasing prevalence of various types of cancer is also fueling the oncology drugs market growth. For instance, according to a report by National Cancer Institute, 2016, around 16.8 million new cases of cancer are diagnosed in the U.S. every year, with around 595,690 deaths from the disease and the number of people with cancer is expected to increase to 19 million by 2024.

Major players operating in the global oncology drugs market include, Hoffmann-La Roche AG, Novartis International AG, Celgene Corporation, Johnson & Johnson, Bristol-Myers Squibb, Pfizer Inc., Merck & Co., Eli Lilly and Company, AbbVie, Inc., AstraZeneca plc., Bayer AG, and Amgen Inc.

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Detailed Segmentation:

Global Oncology Drugs Market, By Drug Type: Cytotoxic Drugs, Alkylating Agents, Antimetabolites, Others, Targeted Drugs, Monoclonal Antibodies, Tyrosine Kinase Inhibitors, Others,. Hormonal Drugs, Ovarian Function Blockers, Estrogen Production Blockers, Estrogen’s Effect Blockers, Selective Estrogen Receptor Modulators (SERMs), Others,. Global Oncology Drugs Market, By Cancer Type: Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Blood Cancer, Bladder Cancer, Others,. Global Oncology Drugs Market, By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies,.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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