According to a report available on Radiant Insights, Inc., in 2012, nearly 33 million were diagnosed with cancer in a span of five years. Factors encouraging cancer growth are obesity, inherited cancer traits, and geriatric populace. Ongoing breakthroughs in technology as well as research and development have led to effective drugs being used as a first line of cancer treatment.
In-Depth research report on Oncology Market: https://goo.gl/bziVnN
Prevalence of Cancer
Oncology is a field driven by prevalence of various cancers and their respective treatments. Major pharmaceutical companies are constantly developing novel drugs to capture a bigger share in the market. There are more than 7,000 drugs in the pipeline, with newer drugs gaining prominence due to the license expiry of patents.
Monoclonal antibodies (mAbs) or targeted therapies are currently in the limelight in this field. Herceptin and Avarin are the most successful mAbs treatments so far. Targeted therapies work in conjunction with chemotherapy to target specific cells to eliminate cancerous growth.
Oncology is a field driven by prevalence of various cancers and their respective treatments. Major pharmaceutical companies are constantly developing novel drugs to capture a bigger share in the market. There are more than 7,000 drugs in the pipeline, with newer drugs gaining prominence due to the license expiry of patents.
Monoclonal antibodies (mAbs) or targeted therapies are currently in the limelight in this field. Herceptin and Avarin are the most successful mAbs treatments so far. Targeted therapies work in conjunction with chemotherapy to target specific cells to eliminate cancerous growth.
Latest Innovations
Novartis is a leading player in the development of chimeric antigen receptor therapy (CAR-T). Its novel drug, CTL019, is expected to gain approval of the U.S. Food & Drug Administration (FDA) to treat pediatric acute lymphoblastic leukemia. It registered an 82% remission rate at an Ash meeting conducted after three months of providing treatment. It faces its biggest competition from Kite Pharma’s KTE C-19 for the same morbidity.
Bristol-Myers Squibb’s (BMS) Opdivo has been used in the first line of treatment since 2014. It has been a part of targeted therapies in preventing cancerous cells from disrupting the operation of the immune system. The company has also developed Empliciti, a mAbs targeted at patients with relapsing multiple myeloma.
Market Outlook
The worldwide oncology market is estimated to generate revenues above USD 240 billion by 2023, according to a report on Radiant Insights, Inc. It is expected to grow at a CAGR close to 11% over the forecast period (2016 – 2023). Factors driving market demand are awareness of cancers and various treatment options, growing elderly populace, and increasing incidence of cancer.
Revlimid, a drug developed by Celgene, netted USD 16 billion in revenue in 2016. It is expected to continuously gain revenues in the forthcoming years due to its usage in first line of cancer treatment. North America led the global oncology market in 2016. Other markets with high potential are Latin America, Middle East, & Africa (LAMEA) and Asia Pacific (APAC).
Prominent market players include Celgene Corporation, BMS, F. Hoffmann-La Roche AG, and Novartis International AG
Request free sample at:
No comments:
Post a Comment