Oncology Drugs Market is anticipated to grow with a value CAGR of 7.3% over 2019-2028. According to a study published by Insure Insights on the Oncology Drugs Market, Oncology means to study and treatments of cancers, Oncology drugs are those drugs used in the treatment of Cancers. An increase in Government spending for better healthcare an increase in awareness among people about cancer are expanding the market growth.

Top Driver: The Rise in the Incidence of Cancer and Technological advances are making a significant contribution to the Market

There has been a significant rise in the incidence of cancer, Rise in the number of smoker globally is boosted the demand in the Market. There have been noteworthy technological advances in the treatment of Cancer; immunology is one of those advances for instance Avalon GloboCare Corp in May 2020 had announced that they are advancing its next-generation immune cell therapy using FLASH-CAR technology co-developed with the Company’s strategic partner Arbele Limited. FLASH-CAR platform could be used to create personalized cell therapy from a patient’s own cells, as well as off-the-shelf cell therapy from a universal donor; This treatment was especially for the treatment of Blood cancer

Targeted Therapy is obtained the highest growth in the  Global Oncology Drugs Market

Based on Treatment, Targeted Therapy has obtained the most significant growth in the Oncology Drugs Market. Targeted Therapy has gained a lot of importance as it only Kills the malignant cancerous cell; it also assures high survival rates and also high efficacy. For instance, In May 2020 FDA had approved YNPARZA, which now brings a molecularly targeted treatment to men with HRR gene-mutated metastatic castration-resistant prostate cancer in the U.S. In terms of indication segment prostate cancer has obtained the most remarkable growth as there has been a significant rise in the geriatric population.

 Asia pacific to rule the Regional Market due to the rise in the awareness among people

The Rise in the awareness among people, Increased per capita income in the developing countries is boosting the regional growth of the Market. The Rise in Government spending, favorable reimbursement for advanced healthcare, Increased R&D expenditure, are expanding the market growth in the Market. Technological advances in various therapies rise in the geriatric population are further escalating the market growth. Lifestyle changes, Rise in the number of smokers globally is further boosted the market growth.

Players to Focus on advancing the technologies for enhancing the treatment activities

The Competitors are focusing on developing new technologies for enhancing the treatment capabilities. The major competitors of the Oncology Drugs Market are F. Hoffmann-La Roche Ltd., Novartis AG, Johnson & Johnson, Pfizer, Inc., Bristol–Myers Squibb, AstraZeneca PLC, GlaxoSmithKline plc, Eli Lilly and Company, Amgen Inc., and, Sanofi

1. Hoffmann-La Roche Ltd: F. Hoffmann-La Roche Ltd is the leading competitor of the Oncology Drugs Market. For instance in 4 March 2020 had announced that the U.S. Food and Drug Administration (FDA), had approved the as Breakthrough Device Designation to the Elecsy GALAD score; it is intended to be used for the diagnosis of early-stage hepatocellular carcinoma (HCC). The regulatory approval was obtained for use in in Vitro Diagnostics and is an integral part of the Roche Diagnostics Liver Indication Program. Hoffmann-La Roche Limited had announced in April 2020 Health Canada, under the Notice of Compliance with Conditions, has approved Rozlytrek  (entrectinib) for adults with unresectable locally advanced or metastatic extracranial solid tumors, including brain metastases.

Novartis AG : Novartis AG is one of the popular competitor of the Oncology Drugs Market and are also doing many reaserches to develop promising drug for cancer treatments. In May 2020, Novartis had announced that the exploratory subgroup analysis of the Phase III MONALEESA-3 and MONALEESA-7 trials for the treatment of breast cancer, the results of the trails proved to be promising and have helped in the overall survival (O.S.) benefit of Kisqali (ribociclib).

Scope of the Report

By Drug Type

• Chemotherapy
• Immunotherapy
• Targeted Therapy
• Others

By Indication

• Lung Cancer
• Stomach Cancer
• Prostate Cancer
• Others

By Region

• North America
• Europe
• Asia Pacific
• LAMEA