Cancer Therapeutics Market Scope
Cancer therapeutics has an ever-increasing paradigm and array of tools, shift away from the traditional cytotoxic drugs towards the targeting of proteins intimately involved in driving the cancer phenotype. Huge investment in research and development activities and favorable government regulations for cancer therapeutics has enhanced the development of drugs. These aspects are the major drivers which are stimulating the growth of the very market.
According to AMA, the Global Cancer Therapeutics market is expected to see growth rate of 10.9%Cancer Therapeutics market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Cancer Therapeutics market throughout the predicted period.
Merck & Co. Inc. (United States), Novartis AG (Switzerland), Pfizer Inc. (United States), AbbVie Inc. (United States), Astellas Pharma Inc. (Japan), CTX CRC LTD (Australia), Bristol Myers Squibb Company (United States), Celgene Corporation (United States), Eli Lilly and Company (United States), F. Hoffmann-La Roche Ltd. (Switzerland) and Johnson & Johnson (United States) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Cancer Therapeutics market , by Application (Blood cancer, Breast cancer, Lung cancer, Colorectal cancer, Prostate cancer and Other) and Region with country level break-up.
On the basis of geography, the market of Cancer Therapeutics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Investment in Research & Development and Top Players are Focusing on Product Enhancement
Market Growth Drivers:
Increasing Incidences of Lung Cancer Due to Rising Smoking Population and Rise in Cancer Awareness & Availability of Oncology Drugs
Challenges:
Adverse Effects Associated with Cancer Drug Therapy
Restraints:
High Cost of Drug Development and the Threat of Failure
Opportunities:
High potential associated with personalized medicines and Increase in purchasing power of developing countries
Market Leaders and their Expansionary Development Strategies
In April 2020, Merck Announced the US Launched of ONTRUZANT, a Biosimilar of Herceptin. ONTRUZENT is indicated for adjuvant treatment of HER2 overexpressing node-positive or node-negative breast cancer as part of a treatment regimen consisting of doxorubicin. ONTRUZANT is being launched in the U.S. by Merck as part of a development and commercialization agreement with Samsung Bioepis.
In January 2019, AbbVie, a research-based global biopharmaceutical company, and Tizona Therapeutics, Inc., a privately held immunotherapy company, announced that they have entered into a global, strategic collaboration to develop and commercialize CD39-targeted therapeutics, including TTX-030, a first-in-class antibody for the treatment of cancer
Key Target Audience
Cancer Drug Manufacturers, Drug Distributor/Suppliers, Research Organizations, Government Regulatory Body and Other
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.