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Anti-cancer Drugs Market Rising at 7.5% CAGR to Top US$ 411.7 Billion by 2034: Fact.MR Analysis

Anti-cancer Drugs Market Rising at 7.5% CAGR to Top US$ 411.7 Billion by 2034: Fact.MR Analysis


FACT.MR

FACT.MR

Increasing Focus on Making Anti-cancer Drugs Accessible Globally Propels Manufacturers to Develop Cost-effective Solutions

Rockville, Nov. 27, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the global Anti-cancer Drugs Market is estimated at US$ 198,957.9 million in 2024, projected to develop steadily with a 7.5% CAGR through 2034. The market size is projected to surpass a valuation of US$ 411,789.3 million by 2034.

The World Health Organization (WHO) reports that one of the leading causes of mortality globally is cancer. Over 10 million fatalities, or around one in six deaths, were due to cancer in 2020. As a result, the anti-cancer drugs market stands as a critical frontier in the fight against cancer. To lower the occurrence rate, medical professionals are focusing on facilitating the development of effective treatment and diagnostic strategies.

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Key Segments of Anti-cancer Drugs Industry Research Report

By Drug Class

By Indication

By Distribution Channel

By Region

  • Cytotoxics

  • Hormonal Therapy

  • Targeted Therapy

  • Prostate Cancer

  • Lung Cancer

  • Breast Cancer

  • Melanoma

  • Colon and Rectum Cancer

  • Others

  • Hospital Pharmacies

  • Retail Pharmacies

  • North America

  • Europe

  • Latin America

  • East Asia

  • South Asia & Oceania

  • Middle East & Africa

Every business is undergoing change due to recent technology breakthroughs, and the healthcare sector is no exception. A more individualized approach to cancer treatment is made possible by cutting-edge technologies like targeted therapy and precision medicine, which guarantee that medications are customized to each patient’s unique features and produce better results.

The global rise in medical tourism, the ongoing development of promising medications, and the increasing involvement of key companies in product development create a favorable environment for market expansion. Additionally, the unexplored market holds enormous growth potential, further enhancing the prospects for the anti-cancer drugs market. These combined factors underscore a promising future for the industry.

In terms of both revenue and new medication discoveries, North America is anticipated to lead the regional anti-cancer medicine market. On the other hand, because of the region’s improving healthcare conditions, growing economy, and more government activities, East Asia is predicted to see rapid expansion in the industry.

Key Takeaways from the Market Study

  • The global anti-cancer drugs market is projected to expand at a CAGR of 7.5% through 2034.

  • The North America anti-cancer drugs market is expected to develop at a promising CAGR of 7.7% through 2034.

  • The anti-cancer drugs industry in the United States holds a dominant share of 86.7% in 2024. The United States dominates the global anti-cancer drugs market, valued at US$ 71,571 million in 2024, with factors such contributing to its dominance.

  • The anti-cancer drugs industry in Japan is expected to rise at a CAGR of 6.8% through 2034.

  • Based on the drug class, targeted therapy is likely to hold a 58.8% market share in 2024.

  • The breast cancer segment is set to dominate the indication category with a 22.0% share in 2024.

“A new therapy that specifically targets cancer cell lysosomes is an example of how cutting-edge technologies and anti-cancer medications are coming together to bring forth a transformative age. Lysosomes, which are essential for cellular disintegration, are now a crucial area of interest, providing a possible way to overcome medication resistance in cancer cells. With its robust approach to counter resistance and improve treatment efficacy, this discovery has the potential to change the anti-cancer drugs market completely.” says a Fact.MR analyst.

Top Contenders Diversify Anti-cancer Drug Pipelines for Competitive Edge

Leaders in the sector use multiple approaches to control the highly competitive anti-cancer drugs market. These firms place a high priority on research and development, contributing significantly to the investigation of state-of-the-art technologies to discover new anti-cancer drugs. In order to reach different markets and strengthen their position as leaders in the global battle against cancer, they are forming strategic alliances and emphasizing acquisitions. To reduce risks and guarantee a steady stream of possible discoveries, these industry leaders also deliberately diversify their drug portfolios throughout different phases of development.

Small anti-cancer drug market start-ups use their agility to carve out distinctive markets. These start-ups set themselves apart and spur innovation by concentrating on certain cancer forms or cutting-edge therapy modalities. Their dedication to rapid development methods is clear; they place a strong emphasis on adaptability and quickness to launch new anti-cancer medications ahead of their more established competitors.

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Report Attribute

Details

Value Projection (2034)

USD 411,789.3 Million

Growth Rate (2024-2034)

7.5% CAGR

No. of pages

170 Pages

No. of Tables

32 Tables

No. of Figures

160 Figures

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the anti-cancer drugs market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market by drug class (cytotoxics, hormonal therapy, targeted therapy), by indication (prostate cancer, lung cancer, breast cancer, melanoma, colon and rectum cancer, others), by distribution channel (hospital pharmacies, retail pharmacies), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

Checkout More Related Studies Published by Fact.MR Research:

Cancer Biomarkers Market: The cancer biomarkers market is expected to exceed US$ 34 Billion by 2032, representing a threefold increase from 2022. The market is currently worth slightly more than US$ 11 Billion.

Cancer Therapeutics Market: The global cancer therapeutics market is estimated at USD 12.1 Billion in 2022 and is forecast to surpass USD 28.3 Billion by 2032, growing at a CAGR of 8.8% from 2022 to 2032.

Blood Cancer Diagnostics Market: In FY 2021, the blood cancer diagnostics market reached a valuation of US$ 15.05 Billion, and is likely to register a Y-o-Y growth rate of 5.6% in 2022, closing at US$ 15.95 Billion.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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