The Latest inclusion of the Generic Oncology Drugs Market 2027 report by The Insight Partners is targeted to deliver actionable insights into the existing Generic Oncology Drugs industry on the basis of Types, Applications, and End-User. The Generic Oncology Drugs Market study carefully captures the strategies adopted by top market players during the forecast period.
Generic Oncology Drugs Market – Global Analysis and Forecasts by Molecule Type, Indication, and Geography. The global generic oncology drugs market is expected to reach US$ 36,029.60 Mn in 2027 from US$ 21,200.00 in 2018. The market is estimated to grow with a CAGR of 6.3% from 2019-2027. The report highlights the trends prevalent in the global generic oncology drugs market and the factors driving the market along with those that act as deterrents to its growth.
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Some of the prominent players operating in the generic oncology drugs market are Teva Pharmaceutical Industries Ltd., Sandoz International GMBH, Glenmark, Sun Pharmaceutical Industries Ltd, MSN Laboratories, Aurobindo Pharma, Intas Pharmaceuticals, Zydus Cadila, Mylan N.V., Cipla Inc., Fresenius Kabi AG, and Dr. Reddy’s Laboratories Ltd., among others. The market players are focused on bringing new and innovative products and services through various inorganic strategies such as acquisitions and mergers to sustain their position in the market. Recently in July 2019, Drug maker Pfizer Inc. has agreed to spin off its generic drugs business and combine it with Mylan, a move that leaves Pfizer with more profitable innovative drugs, including cancer drug Ibrance and pneumonia vaccine Prevnar
New Drug Launches in Market:
The market for generic cancer drugs is driven by frequent drug launches. Most of the major market players are involved in the manufacturing wide range of generic cancer drugs that help in reducing cost of cancer care. For instance, in May 2019, Mylan N.V., a global pharmaceutical company announced the U.S. launch of Erlotinib Hydrochloride Tablets, 25 mg, 100 mg and 150 mg, a generic version of Genentech’s Tarceva. Erlotinib Hydrochloride tablets are used for the treatment of patients with metastatic non-small cell lung cancer whose tumors have epidermal growth factor receptor (EGFR) exon 19 deletions or exon 21 (L858R) substitution mutations as identified by an FDA-approved test receiving first-line, maintenance, or second or greater line treatment after advancement following at least one earlier chemotherapy. Similarly, in January 2019, Wockhardt received United States Food & Drug Administration (USFDA) approval for 100 mg and 400 mg tablets of Imatinib Mesylate, a generic version of Gleevec, marketed in USA and other countries by Novartis. Thus, the constant developments in generic oncology drugs accelerate the market growth during the forecast period. Thus, the constant developments in generic oncology drugs accelerate the market growth during the forecast period.
The Global Generic Oncology Drugs Market, based on the molecule type was segmented into small molecule and large molecule. In 2018, the small molecule segment held a largest market share of 87.67% of the generic oncology drugs market, by molecule type. The advantages of small molecules in terms of their complexity and molecular size that can traverse throughout reach to target site and show its effective action as well as advent of personalized drug development are the major factors to likely account for the growth of the segment over the years to come. However, the same segment is expected to witness the highest CAGR of 6.6% over the coming years.
Cancer is one of the leading cause of deaths across the globe and is extremely affecting the quality of life. Thus, cancer will be burden on society if not diagnosed and treated on time. According to the World Health Organization in 2018, approximately, 9.6 million deaths across the globe were due to cancer. Furthermore, the National Cancer Institute predicted that in 2018, approximately 1,735,350 new cancer cases will be diagnosed in the US. Furthermore, Asia Pacific region is also facing the problem of growing prevalence of cancer. The top 15 countries with Cancer prevalence are: Japan, Taiwan, Singapore, South Korea, Malaysia, Thailand, China, Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, India, Laos, and Cambodia. According to the National Institute of Cancer Prevention and Research (NICPR), in 2018, in India total deaths due to cancer were 784,821. These statistics determine an increase in the demand for advanced cancer diagnostics in various regions across the globe. Thus driving the growth of generic oncology drugs during the forecast period.
Global Generic Oncology Drugs Market – By Geography
- North America
- Asia Pacific (APAC)
- South Korea
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- South & Central America (SCAM)
Some Points from TOC:
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Generic Oncology Drugs Market – By Molecule Type
1.3.2 Global Generic Oncology Drugs Market – By Application
1.3.3 Global Generic Oncology Drugs Market – By Geography
- Global Generic Oncology Drugs Market – Key Takeaways
- Research Methodology
3.2 Secondary Research
3.3 Primary Research
- Global Generic Oncology Drugs– Market Landscape
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific – PEST Analysis
4.2.4 Middle East & Africa– PEST Analysis
4.2.5 South & Central America – PEST Analysis
4.3 Expert Opinions
- Global Generic Oncology Drugs Market – Key Industry Dynamics
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This post was originally published on The Picayune Current