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Global Anticancer Drugs Market to reach US$ 155.6 Bn in 2025; North America market to hold leading share during the forecast period

January 11, 2018

According to the report, global anticancer drugs market was valued at US$ 85.0 Bn in 2016 and is projected to expand at a CAGR of about 6 to 7% from 2017 to 2025 to reach US$ 155.6 Bn in 2025. This report offers a thorough understanding of anticancer drugs market across the globe its key trends, drivers, restraints, and opportunities.

Cancer is one of the leading cause of death after cardiovascular diseases. According to the World Health Organization (WHO), it was estimated that about 8.8 million people around the globe died due to cancer in the year 2015. The total estimated cost of cancer in 2010 was about US$ 1.16 trillion. It is said that around 30 -50% of cancers could be prevented. Anticancer drugs inhibit and prevent the proliferation of cells. The Global Anticancer Drug Market is expected to expand at a robust CAGR during the forecast period.

Cancer diagnosis rate is low in many developing countries. Many people are under the stigma that cancer is associated to death and do not undergo diagnosis test leading which is one of the most important factor that can restrain the growth of the global market during the forecast period. Some of the factors driving the growth of the market are promising pipeline for many types of anticancer drugs, rise in awareness in developed countries, increase in government and non-government funding for cancer research, spur in cancer awareness programs etc. Furthermore, prevalence of unhealthy lifestyle such as smoking, alcoholism, advanced cancer technologies etc are few other factors that can propel the growth of the global market during the forecast period.

Based on drug type, global anticancer drugs market is segmented into cytotoxic drugs, targeted drugs, and hormonal drugs. Cytotoxic drugs segment is further classified into types such as alkylating agents, antimetabolites and others. While the targeted drugs segment is further categorized into monoclonal antibodies, tyrosine kinase inhibitors and others. By therapy type, global anticancer drugs market is segmented into chemotherapy, targeted therapy, immunotherapy and others. Increase in preference for targeted drugs is projected to drive growth for targeted therapy segment. Based on cancer types, global anticancer drugs market is segmented into lung cancer, breast cancer, leukemia, colorectal cancer and others. Lung cancer segment is expected to expand at rapid rate during the forecast period since it is most common cancer in both the sexes globally.

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In terms of geography, global anticancer drugs market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The anticancer drugs market in North America held largest share in 2016 and is projected to dominate the global anticancer drugs market during the forecast period from 2017 to 2025. It is projected to expand at CAGR of over 6% from 2017 to 2025. Developed healthcare infrastructure, favorable reimbursements scenario are projected to be the contributing factors for the dominating share of North America in global anticancer drugs market. Europe market is projected to hold second largest share in global anticancer drugs market. This market is estimated to expand at CAGR of 6% from 2017 to 2025. Rise in awareness towards cancer treatment, home for many established players etc are some of the factors driving the growth of the market in the region. Countries such as UK, Germany share a significant amount of the share of European anticancer drugs market due to increase in research activities, funding from government and well established healthcare infrastructure.

Emerging market such as Asia Pacific is anticipated to witness an exponential growth at CAGR of about 8% -9% from 2017 to 2025. Markets such as Japan, Australia and India are projected to be most attractive markets in this region. Latin America and Middle East & Africa market is expected to grow at moderate CAGR during the forecast period. Brazil, South Africa and GCC countries are the most attractive market in the region.

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