Report ID :10151853 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
"The oncology market for generic drugs in 2021 is estimated to be worth ~USD 26 billion and is expected to expand at a CAGR of ~7% over the period 2022-2030. With the rapid increase in the number of sedentary lifestyles, colorectal and extreme UV exposure, the number of cancer cases worldwide has increased significantly. The global general cancer drug market report provides an overall assessment of the market. The report provides a comprehensive analysis of key market segments, trends, driving factors, constraints, competitive landscape, and factors that play an important role in the market.
Defining the global general anti-cancer drug market:
General anti-cancer drugs are the next generation of anti-cancer drugs, with affordable price changes and quality beliefs. Generic drugs are essential in oncology because there are fewer anticancer drugs available only as generic drugs. In daily practice, children with severe lymphocytic leukemia or early breast cancer patients use generic drugs for treatment and cure. Generic drugs are profitable because manufacturers have not invested in the development and commercialization of new drugs. When the drug patent ends, other manufacturers will apply for FDA approval to manufacture and sell the product. Therefore, generic drugs are more affordable than brand-name drugs. Generic anti-cancer drugs have become an effective treatment option for symbolic cancer cases. On the other hand, manufacturers are focusing on launching new products with different quality from existing products.
Overview of the global general cancer drug market:
The global general cancer drug market is mainly driven by the increase in cancer prevalence and the advantages provided by generic drugs. With the rapid increase in the number of sedentary lifestyles, colorectal and extreme UV exposure, the number of cancer cases worldwide has increased significantly. Generic drugs are widely used in supportive treatment.
The most significant benefit of using generic drugs is the cost, which is 85% lower than brand-name drugs. Therefore, these benefits provided by generic drugs are expected to intensify market growth during the forecast period. In addition, the expansion of large-scale generic drugs, the expansion of exports from Indian manufacturers, the new trade agreements between Asian companies and international participants on sales, distribution and research cooperation, and the launch of innovative generic drugs and new drugs for cancer treatment are other factor. Promote market growth. It is expected that increasing government expenditures in the healthcare industry will become the main trend driving the growth of the industry.
On the other hand, oncologists; concerns about the efficacy and bioequivalence of generic drugs will hinder market growth. In addition, spending a lot of time on drug approvals may hinder the growth of the generic drug market in the next few years. However, the research and development of cancer drugs and therapies such as lung cancer, multiple myeloma, colorectal cancer and prostate cancer is becoming increasingly important, and it is expected to create huge growth opportunities for the market. The increasing awareness of the benefits of early cancer diagnosis and the increasing tendency to take preventive measures will also help create market opportunities.
Anti-cancer generic drug market, according to product type :
• Macromolecular drugs
• Small molecule drugs
According to product types,:
The market is divided into macromolecular drugs and small molecule drugs. It is estimated that the small molecule drug segment will witness the highest compound annual growth rate during the forecast period. The growth of this market segment is attributed to the advantages of small molecules in terms of their complexity and molecular size, which can cross and show their powerful effects in the process of reaching the target site, as well as the emergence of personalized drug development.
General cancer drug market, by application
• Hospital pharmacy
• Retail pharmacy
• Online pharmacy.
According to the application: the market is divided into hospital pharmacies, retail pharmacies and online pharmacies. The online pharmacy segment is expected to witness the highest compound annual growth rate during the forecast period. The growth of this sector is attributed to the easy-to-use pharmacy inventory management associated with the online pharmacy channel. Advantages such as updated drug and pricing information, simplified order and return functions, drug purchase records, and interoperability with other pharmacies or hospital systems will drive the growth of market segments.
Generic drug market, by region :
• North America
• Europe
• Asia Pacific
• Other regions of the world
According to regional analysis:
The global anti-cancer generic drug market is divided into North America, Europe, Asia Pacific and other regions of the world. The Asia-Pacific region is the fastest-growing regional market in the anti-cancer generic drug market. The increase in the incidence of cancer diseases is one of the main driving forces of the general oncology drug market. As more and more people are diagnosed with cancer, they seek more drugs to treat it.
The major players in the general anti-cancer drug market:
the Global General Anti-cancer Drug Market; research report will provide valuable insights, focusing on the global market, including some major players such as Aurobindo Pharma, Celgene, GlaxoSmithKline, Hikma Pharmaceuticals, Merck, Mylan, Natco Pharma, Novartis, Pfizer and Teva Pharmaceuticals."
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