04 May 2020
Visiongain has launched a new pharma report Blockbuster Oncology Brands Market Report 2020-2030: Forecasts by Brands (Opdivo, Keytruda, Perjeta, Ibrance, Tecentriq, Gazyva, Tagrisso, Others), Indication (Lung Cancer, Breast Cancer, Multiple Myeloma, Lymphoma, Others), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global blockbuster oncology brands market is anticipated to surpass USD xyz billion by 2020. Visiongain anticipates that the global blockbuster oncology brands market will witness lucrative growth rates owing to the growing incidences of cancer across the globe. As per the reports of Cancer Research UK, there were 17 million cancer cases in the year 2018 and this number is anticipated to surpass 27 million by 2040.
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Oncology drugs are a thriving market for the pharmaceutical industry. Almost all large corporations are either actively developing oncology drugs or have oncology drugs in their development as possible products to be marketed over the coming years. There is a growing appetite for oncology drugs globally, and pharmaceutical firms are seeing substantial development in their normal markets in the United States and Europe. The FDA has given a fast track and milestone mark to several of the oncology medications now in advanced clinical trials. Many breakthrough cancer medications are anticipated to be eligible in the years ahead.
Increasing health expenditure in Asian countries such as India, China, and Japan is making healthcare more accessible. In India, costly cancer treatment is becoming feasible for those who can manage it, partially due to the proliferation of pharmaceutical firms exporting manufacturing to Indian companies.
In recent times, the United States has witnessed substantial progress in its fight against cancer, attributed to factors such as early diagnosis with improved treatments. In the year 2014 alone, the U.S. FDA (Food and Drug Administration) approved 19 cancer medicines in addition to 7 cancer medicines that were approved under an accelerated pathway. Advancements in cancer care are attributed to the improvement in the therapeutics, with research estimating that the new medicines contributed to approximately 50-60% rise in cancer survival rates since 1975. The 5-year relative survival rates for all types of cancer diagnosed from 2004 to 2010 increased to over 68% as compared to 49% during the late 1970s. Cancer death rates have also started to decline over time. With the emergence of new cancer therapies and effective drugs in the market, it has led to an important step towards better treatment options for patients.
North America holds the majority of market share followed by Europe and will continue to dominate in the future as a result of high availability of approved blockbuster drugs, and favorable regulatory scenario. Also, the market will continue to be driven by the existence of the target population and increased R&D investment by important business organizations. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to the growing presence of cancer cases in markets such as India and China. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the blockbuster oncology brands market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the Blockbuster Oncology Brands Market.
For instance, on 24th March 2020; The Food and Drug Administration approved the supplemental New Drug Application (sNDA) for Imbruvica® (ibrutinib; Janssen) in combination with rituximab for the treatment of adult patients with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL).
The comprehensive market report features companies such as Astrazeneca, Bristol Myers Squibb, Merck & Co., Pfizer, Roche, Tesaro among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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