Press Releases

Recurrent and Metastatic Divisions Drive Global Cancer Therapeutics Market Growth

December 31, 2018

WELLESLEY, Mass., Dec. 31, 2018 – Stemming from the rising prevalence of cancer with population increase, healthcare spending, availability of healthcare reimbursements and the development of innovative therapeutic options, the global market for cancer therapeutics with an emphasis on metastases and recurrence is at a point of considerable growth, according to the report “Global Cancer Therapeutics Market: Emphasis on Recurrent and Metastatic Divisions.”

According to BCC Research, the global cancer therapeutics market is expected to grow from $128.1 billion in 2018 to $182.0 billion by 2023 at a compound annual growth rate (CAGR) of 7.3% during the forecast period.

Major market players include: AbbVie, Inc. (ABBV), Amgen, Inc. (AMGN), Array BioPharma Inc. (ARRY), AstraZeneca (AZNCF), Astellas Pharma Inc. (ALPMF), Bayer AG (BAYZF), Bristol-Myers Squibb Co. (BMY), Biogen Inc. (BIIB), Celgene Corp. (CELG) and many others.

Research Highlights:

  • Metastases is one of the most lethal stages of cancer and represents one of the most challenging phases of treatment for cancer patients.
  • Lung cancer, breast cancer and colorectal cancer represent the largest group of cancers across all regions with highest prevalence and incidence rate.
  • Cancer treatment is highly heterogenous and requires a very precise treatment pathway for improving survival rates and disease progression rates.

“Developed regions of the globe, namely North America and Europe, continue to dominate the cancer therapeutics market with higher rates of utilization, partly driven by access to medicine, while developing regions represent the opportunity for higher growth potential owing to large untapped populations suffering from cancer,” the report states. “Access to medicine and the high cost of cancer therapeutics remain the biggest barriers to penetration of cancer therapeutics in developing markets.”

Factors Hindering Growth of the Global Cancer Therapeutics Market

Even as the global market for cancer therapeutics has seen significant growth in recent years, there remain a few critical factors limiting growth. These factors include: the uncertainty of clinical trials and risk of failure, patient expiries and a highly competitive market booming with proprietary technologies.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Global Cancer Therapeutics Market: Emphasis on Recurrent and Metastatic Divisions( PHM177B )
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