Oncology
deals with diagnosis, prevention and treatment of cancer diseases. Anti-cancer
or anti-neoplastic agents are the drugs that prevent or inhibit or halt the
proliferation and maturation of neoplasms, an abnormal growth of tissues
commonly referred as tumors.
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The
oncology drug market is expected to grow from $126 billion in 2017 to $165
billion by 2021 due to the increasing number of expensive but advanced and
effective medications that will help in increasing the life expectancy of
cancer patients.
The global
oncology drugs market in The Business Research Company’s report is segmented
into blood cancer, breast cancer, cervical cancer, lung cancer, colorectal
cancer, non-small cell lung cancer, prostate cancer, kidney cancer, gastric
cancer, brain tumor, pancreatic cancer, skin cancer, ovarian cancer, bladder
cancer, thyroid cancer and others. While the first three segments account for
more than two-fifth of the market share, the remaining is attributed to the remaining
oncology drugs market segments.
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The USA was the largest country in the oncology drugs market in 2017,
accounting for almost one-fourth of the market share. This was the result of the
medical facilities and health insurance schemes which allowed better
accessibility to such drugs. The USA was followed by Germany and Japan.
F. Hoffmann-La Roche Ltd was the largest competitor in the oncology drugs
market in 2017, followed by Novartis
AG and Gilead Sciences, Inc. Roche is a multinational
healthcare company that focuses on developing medicines and diagnostics.
Roche’s growth strategy aims at increasing revenues from its laboratory
business by introducing new medicines into the market.
About The Business Research Company.
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