According to research by Allied Market Research, the global cancer therapeutics market size was valued at USD $98,900 million in 2018 and is expected to reach USD $180,193 million by 2026 while registering a CAGR of 7.7 percent from 2019 to 2026.
Among the many factors influencing the cancer therapeutics segment is the increase in cancer prevalence, growth of the geriatric population, surge in collaboration between pharmaceutical companies and the rise in cancer research.
However, the high cost linked with oncology drug development and with adverse effects associated with cancer therapeutics are restraining the market growth. Yet, it is the upsurge in demand for personalized medicine and the potential of developing nations that is expected to provide new opportunities for the many market players in the future.
The cancer therapeutics market is segmented based on application, top selling drugs, and region. Based on application, the market is divided into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, head & neck cancer, glioblastoma, malignant meningioma, mesothelioma, melanoma, and others. By top selling drugs, it is categorized into Revlimid, Avastin, Herceptin, Rituxan, Opdivo, Gleevec, Velcade, Imbruvica, Ibrance, Zytiga, Alimta, Xtandi, Tarceva, Perjeta, Temodar, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global cancer therapeutics market trends are analyzed through the application vertical in the report. The lung cancer segment dominated the cancer therapeutics market, owing to the surge in prevalence of lung cancer and favorable government regulations toward lung cancer therapeutics.
The global cancer therapeutics market growth is also studied through the top selling drugs vertical in the report. The Revlimid segment occupied the largest share in the cancer therapeutics market in 2018, owing to the face that it received a breakthrough therapy designation. Revlimid (lenalidomide) belongs to the class of immunomodulatory drugs. It is an oral cancer drug indicated for multiple myeloma treatment. Revlimid functions against cancer cells partly by impacting the immune system. In October 2016, the combination therapy results of Revlimid and daratumumab (Johnson and Johnson) reported a surge in progression-free survival rate for patients suffering from refractory or relapsed multiple myeloma (or MM). This combination treatment was granted a breakthrough therapy designation by the FDA in July 2016.
