Oncology Therapeutics Market to exceed US$ 247.5 Billion by 2027 Globally |CAGR: 8.2%| UnivDatos Market Insights
NOIDA, India, July 9, 2021 /PRNewswire/ -- A comprehensive overview of the Oncology Therapeutics Market is recently added by UnivDatos Market Insights to its humongous database. The Oncology Therapeutics Market report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Oncology Therapeutics Market. The Oncology Therapeutics Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Oncology Therapeutics Market at the global and regional levels. Global Oncology Therapeutics Market is expected to grow at a CAGR of 8.2% from 2021-2027 to exceed US$ 247.5 billion by 2027.
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The Global Oncology Therapeutics Market is booming owing to the increasing geriatric population paired with the ever-increasing prevalence of cancer disease and growing private sector investment in R&D initiatives to come up with innovative treatment and control procedure of growing cancer prevalence among individuals. Moreover, the sector has witnessed an increasing number of collaborations between pharma company over the past few years, this further boosts the market growth. For instance, eFFECTOR Therapeutics, Inc. (a Biotechnology company) collaborated with Pfizer in 2019, for the development of novel first in class inhibitors of eukaryotic initiation factor 4E (eIF4E) for the treatment of Multiple Cancer Types.
During the COVID-19 pandemic, every industry has been affected globally and a significant effect can be seen on the oncology therapeutics market. According to an article published in the Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decline in the diagnoses of the six most common types of cancer such as breast, colorectal, lung, pancreatic, gastric, and esophageal cancers. Also, Cancer screening and health prevention services have been postponed due to the pandemic.
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Global Oncology Therapeutics Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Therapy Type, the market is primarily bifurcated into:
- Targeted Therapy
- Hormonal Therapy
The Targeted Therapy sub-segment dominated the global Oncology Therapeutics Market and is expected to grow at a noteworthy CAGR by the year 2027.
By Cancer Type, the market is primarily segmented into:
- Blood Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Breast Cancer
- Cervical Cancer
Amongst Cancer Type, Lung Cancer accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the forecast period 2021-2027.
By Route of Administration, the market is primarily segmented into:
Amongst Route of Administration, Parenteral accounted for the largest share in 2020 and are expected to grow at a significant CAGR during the forecast period 2021-2027.
By End-user, the market is primarily segmented into:
- Specialty Clinics
- Cancer and Radiation Therapy Centers
- Other end-users
Amongst end-user, Cancer and Radiation Therapy Centres accounted for the largest share in 2020 and are expected to grow at a significant CAGR during the forecast period 2021-2027.
Oncology Therapeutics Market Geographical Segmentation Includes:
- North America (United States, Canada, Rest of North America)
- Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
- Rest of the World
North America is dominating the Oncology Therapeutics Market in 2020 and is anticipated to maintain its dominance during the forecast period.
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The major players targeting the market includes:
- Amgen Inc.
- Bayer AG
- Johnson & Johnson Services, Inc
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- F. Hoffmann-La Roche Ltd
- Bristol-Myers Squibb Company
- Eli Lilly and Company
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Oncology Therapeutics Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Oncology Therapeutics Market?
- Which factors are influencing the Oncology Therapeutics Market over the forecast period?
- What are the global challenges, threats, and risks in the Oncology Therapeutics Market?
- Which factors are propelling and restraining the Oncology Therapeutics Market?
- What are the demanding global regions of the Oncology Therapeutics Market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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