Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Cancer research is advancing rapidly and new medicines in development take many innovative approaches to fighting the disease. There has been tremendous innovation over the past decade with the emergence of new drugs with very promising efficacy, such as, immunotherapy, along with increasing adoption of precision medicine technologies including companion diagnostics and targeted therapy, as well as advanced monitoring techniques such as liquid biopsy. New treatment options have become available in the past five years, and the surge of innovation is expected to continue due to a robust pipeline of drugs in clinical development by a large and diverse group of pharmaceutical companies. Over 20 tumour types are being treated with one or more of the 70 new cancer treatments that have been launched over the past five years. Furthermore, the impact of these new medicines on patient care is exemplified by the case of the two PD-1 immuno-oncology drugs, whose rapid uptake reflect their remarkable clinical profile and successive expansion of indications.
The United States has made significant improvements in cancer care, the death rate from cancer in the US has declined steadily over the past 25 years, according to annual statistics reporting from the American Cancer Society. As of 2016, the cancer death rate for men and women combined had fallen 27% from its peak in 1991. This decline translates to about 1.5% per year and more than 2.6 million deaths avoided between 1991 and 2016, it is attributed by the growing number of drugs and technologies available to patients. The direct costs of cancer represent approximately 5% of total direct US health care expenditures. Besides, very expensive cancer treatments such as the new immunotherapies for cancer are more widely available in America than in countries with national healthcare where there are restrictions based on cost/benefit and budget caps.
Moreover, according to the American Cancer Society, in men, the most common cancers diagnosed are prostate, lung, and colorectal cancers. Together, they account for 42% of all cases in men, with prostate cancer alone accounting for nearly 1 in 5 new cases.
The report analyses the North America oncology drugs market based on therapeutic modules, cancer type and country.
Based on the therapeutic modules, the oncology drugs market is segmented into chemotherapy, targeted therapy, immunotherapy, hormonal therapy and others. The other therapeutic modules consist of radiation therapy, stem cell transplant, precision medicine among others. Immunotherapy is expected to dominate the North America market due to its high efficacy and less side effects. Monoclonal antibodies such as trastuzumab, bevacizumab and rituximab are potential immunotherapeutic agents that have achieved magnanimous sales. Moreover, over the past few years, targeted cancer therapies have gained significant attention due to their tumour cell specific action in protecting healthy cells from the toxic effects of oncology drugs.
By various cancer types, the North America oncology drugs market is segmented into blood cancer, breast cancer, gastrointestinal cancer, prostate cancer, lung cancer, skin cancer and others. Other cancer types majorly include kidney cancer, head & neck cancers, lip cancer, bladder cancer among others. With rapid population growth and aging, the rising prominence of cancer as a leading cause of death partly reflects marked declines in mortality rates of stroke and coronary heart disease, relative to cancer, in many countries.
Various countries included in the North America oncology drugs market are United States, Canada and Mexico. The United States majorly contributed to the oncology drugs market in 2018. Furthermore, Canada is anticipated to be second largest market in oncology drug market. The U.S. region houses companies engaged in the development of oncology drugs. Additionally, the disposable incomes of consumers and health insurance cover for life-threatening diseases in U.S. are very high which increases the affordability of cancer treatment. In recent years, US Food and Drug Administration (USFDA) has taken initiatives to support the growth of oncology drugs market by providing pre-market approval to the drugs, which are in the clinical phase; thus, accelerating the clinical development.
North America oncology drugs market is led by companies such as, Roche Holding AG (Switzerland), Amgen Inc. (United States), Takeda Pharmaceutical Company Limited (Japan), Bayer AG (Germany), Boehringer Ingelheim GmbH (Germany), Bristol-Myers Squibb Company (United States), Celgene Corporation (United States), Eli Lilly and Company (United States), Johnson & Johnson (United States), Merck & Co., Inc. (United States), Novartis AG (Switzerland), Pfizer Inc. (United States), Sanofi (France) and Teva Pharmaceutical Industries Limited (Israel). In November 2018, Bristol-Myers Squibb Company the U.S. Food and Drug Administration (FDA) approval of Empliciti (elotuzumab) injection for intravenous use in combination with pomalidomide and dexamethasone (EPd) for the treatment of adult patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a proteasome inhibitor.
The North America oncology drugs market is segmented based on therapeutic modules, cancer type and country.Based on the therapeutic modules, the oncology drugs market is segmented into chemotherapy, targeted therapy, immunotherapy, hormonal therapy and others. The other therapeutic modules consist of radiation therapy, stem cell transplant, precision medicine among others.
By various cancer types, the North America oncology drugs market is segmented into blood cancer, breast cancer, gastrointestinal cancer, prostate cancer, lung cancer, skin cancer and others. Other cancer types majorly include kidney cancer, head & neck cancers, lip cancer, bladder cancer among others.
Various countries included in the North America oncology drugs market are United States, Canada and Mexico. The United States majorly contributed to the oncology drugs market in 2018. Furthermore, Canada is anticipated to be second largest market in oncology drug market. The U.S. region houses companies engaged in the development of oncology drugs.
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