WESTFORD, Mass., July 18, 2024 /PRNewswire/ -- According
to SkyQuest, the global Cancer Therapeutics Market size
was valued at USD 136.6 Billion in
2022 and is poised to grow from USD 149.02
Billion in 2023 to USD 299.13
Billion by 2031, at a CAGR of 9.1% during the forecast
period (2024-2031).
A rapid hike in the incidence of cancer around the world and
growing investments in the development of novel therapeutics are
projected to boost sales of cancer therapeutics over the coming
years. Advancements in oncology research are also estimated to play
a crucial role in future cancer therapeutics market development.
Personalized medicine and gene therapies are estimated to emerge as
highly popular cancer treatments across the forecast period and
beyond. The global cancer therapeutics market is segmented into
application, top selling drugs, end-user, and region.
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overview:
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Cancer Therapeutics Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 149.02
Billion
|
Estimated Value by
2031
|
$ 299.13
Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 9.1%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Application, Top
Selling Drugs, End-User, and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Development of novel
therapeutics targeting specific types of cancer
indications
|
Key Market
Opportunities
|
Use of personalized
medicine approach
|
Key Market
Drivers
|
Surging prevalence of
different types of cancers
|
Segments covered in Cancer Therapeutics
Market are as follows:
- Application
- Blood Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer,
Breast Cancer, Cervical Cancer, Head and Neck
Cancer, Glioblastoma, Malignant Meningioma, Mesothelioma,
Melanoma, and Others
- Top Selling Drugs
- Revlimid, Avastin, Herceptin, Rituxan, Opdivo, Gleevec,
Velcade, Imbruvica, Ibrance, Zytiga, Alimta, Xtandi, Tarceva,
Perjeta, Temodar, Others
- End-User
- Hospitals, Specialty Clinics, Cancer and Radiation Therapy
Centers
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report:
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Rising Incidence of Lung Cancer Due to High Air Pollution
Making it the Most Dominant Application for Cancer
therapeutics
A notable surge in the prevalence of lung cancer has been
observed in recent years. This can be attributed to increasing air
pollution, deteriorating air quality, and a growing number of
tobacco smokers around the world. As more people suffer from lung
cancer, the need for therapeutics and treatment of the same is also
rising at a notable pace. Most cancer therapeutics companies are
trying to target this application segment to develop new
therapeutics and therapies. Interest in non-small cell lung cancer
(NSCLC) is projected to increase rapidly over the coming years.
Meanwhile, the demand for cancer therapeutics for blood cancer
is forecasted to increase at a rapid pace across the study period.
The growing incidence of multiple types of blood cancers such as
myeloma, leukemia, and lymphoma is also expected to augment the
overall cancer therapeutics market growth in the long run. Cell
therapies are expected to be highly popular for the treatment of
blood cancer. Precision and personalized medicine approaches are
anticipated to be highly preferred for the development of blood
cancer therapeutics going forward.
High Number of Cancer Treatments Performed in Hospitals
Allows it to Spearhead Cancer Therapeutics Demand
Hospitals are equipped with all the facilities and medical
devices required to treat different types of cancers. Most cancer
patients are treated in hospitals, which is why cancer therapeutics
sales are highest in these settings. The multidisciplinary approach
of hospitals, the presence of multiple medical professionals, and
the availability of good pre and post-treatment care are other
factors that favor the demand for cancer therapeutics in this
segment.
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(TOC):
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Revlimid Estimated to Remain Highly Popular for Treatment of
Various Types of Cancers
Revlimid is the brand name for a generic medicine used for
cancer treatment called Lenalidomide. The medication is used to
slow down or completely stop the growth of cancer tumors. It is
highly used for the treatment of different blood-related cancers
and other disorders. This anti-cancer medication is highly popular
and taken orally by cancer patients.
The growing incidence of different types of cancers is setting
the tone for cancer therapeutics companies to maximize their
business scope. High investments in cancer research will also
foster new opportunities for cancer therapeutics market
players.
Related Reports:
Cancer Immunotherapy Market
Cancer Diagnostics Market
Cancer Tumor Profiling Market
Plasma Therapy Market
Cancer Biological Therapy Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
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SkyQuest Technology
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Westford,
Massachusetts 01886
USA (+1) 351-333-4748
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