How Big Will the Global Market for Cancer Therapies be by 2027?
The global market for Cancer Therapies is projected to reach US$220.5 billion by 2025, driven by the rise in cancer prevalence to epidemic proportions and the still ongoing search to find effective treatments for the disease.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Cancer Therapies market. Report segmentation includes Treatment Type (Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy, and Other Treatment Types); Cancer Type (Blood Cancer, Breast Cancer, Prostate Cancer, Gastrointestinal Cancer, Gynecologic Cancer, Lung Cancer, and Other Cancer Types).
10 June 9:48 A.M., California/Marketwire/ - According to the new market research report, The global market for Cancer Therapies is projected to reach US$220.5 billion by 2025, driven by the rise in cancer prevalence to epidemic proportions and the still ongoing search to find effective treatments for the disease. The global Cancer Therapies market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. The United States and Europe represent large markets worldwide with a combined share of 68% of the market. Aggressive reforms in drug regulations and approval mechanisms have helped China emerge into the second largest pharmaceutical industry worldwide.
Despite decades of research costing billions of dollars, a cure for cancer still remains elusive. This fact when juxtaposed with the epidemic spread of cancer will result in the disease emerging into the single most difficult to tackle public healthcare burden in the coming years. The pressure is therefore intensifying to research and develop newer and more effective therapies and treatment options. Although the Cancer Genome Atlas (TCGA) has increased understanding of the diversity of cancer types, the disease continues to elude a cure while continuing to stretch the boundaries of medical science and understanding. Significant research is still required to understand the vast diversity of tumor gene expression, mutations and drug sensitivities. Against the backdrop of tumor diversity, the universal "one size fits all" therapy which is the current standard of care is primitive. Therapies like chemotherapy and radiation, although help increase survival rates are beset with side-effects as they act as sledgehammers that destroy even healthy dividing cells at the cellular level. There is an urgent need for developing newer ways to target cancer`s diversity and evolution. While a cure for cancer is unlikely, targeted therapies will witness huge gains for their better prognosis. Targeted therapies revolve around identifying major pathways responsible for the disease and its progression and administering specific drugs targeting these pathways. An exciting future currently awaits cancer therapies through 2025 despite all the challenges involved.
Key Competitors Covered in the Report
Astellas Pharma Inc.
Bristol-Myers Squibb Company
Eli Lilly and Company
F. Hoffmann-La Roche Ltd.
Johnson & Johnson Services Inc.
Takeda Pharmaceutical Company Limited.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 8489. Among this pool, 1188 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 253 unique participations, a total of 114 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.