Pune, India -- (SBWire) -- 05/16/2018 --Oncology is a study of Cancer. The illness is described by irregular cell multiplication, which is trailed by local tissue invasion. At an advanced stage of the disease, the cancer cells migrate to different parts of the body. Cancer is a hereditarily determined illness, with iterative transformations giving selective advantages to the cells with regards to the particular tissue site, trailed by clonal expansion.
The author of the report analyzed that the Global Oncology Market accounted for US$ 93.60 Bn in 2016. Oncology is the branch of medicine that deals with the treatment of cancers and tumors. At present, a significant portion of the total patient population is affected with cancer. A large number of research and development projects are underway in order to innovate cancer drugs for various cancer types including blood, breast, lung, skin, and others.
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The oncology pipeline is robust with over 600 molecules in late stage development. The focus on this market is expected to remain high over the next decade driven by the ongoing research and development and remaining unmet need. The pipeline of oncology drugs in clinical development has expanded by 45% over the past ten years; 87% of the late stage pipeline are targeted therapies which include small molecule protein kinase inhibitors and biologic monoclonal antibodies.
The oncology market, in terms of revenue, was valued at USD 93.60 Bn in 2016 and is expected to reach US$ 127.52 Bn by 2021.
Chemotherapy is Anticipated to be the Dominant Segment During the Forecast Period, 2018-2026
Among the therapeutic treatment, chemotherapy held the largest share in global oncology market. Chemotherapy treatment prevents the cancer cells from growing and dividing as it grows faster than normal healthy cells. Chemotherapy is a core treatment for cancers of all types, at various stages. However, immunotherapy is anticipated to be the fastest growing market due to various advancements in immuno-oncology.
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North America to Remain the Dominant Region due to the Availability of Innovative Treatments in this Region
North America represents the largest market for oncology led by high growth in the U.S. There has been a rise in per capita spending on the drugs in the U.S. in the past five years. The availability of newly launched agents differs substantially by geography, with the highest number of novel agents being available in the
United States. This has led to the tremendous growth of oncology market in this region.
Global Oncology Market is Fragmented with the Presence of Number of Global and Regional Players.
Some of the primary participants of global market are Roche, Novartis, Celgene, Bristol Myers Squibb, Johnson & Johnson, Pfizer, Eli Lilly, AstraZeneca, AbbVie, Incyte, Eisai, Sanofi and Merck & Co amongst others.
In June 2016, Merck & Co., Inc. along with Bristol-Myers Squibb Company developed new molecules for the treatment and management of multiple ailments of oncology. The companies have launched molecules in order to treat and cure advanced bladder cancer.
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Oncology Market – By Therapeutic Treatment
Chemotherapy
Targeted Therapy
Immunotherapy
Hormonal Therapy
Radiation Therapy
Others
Oncology Market – By Cancer Type
Blood Cancer
Breast Cancer
Prostate Cancer
Skin Cancer
Lung Cancer
Other
Market By Region
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
