Cancer Therapy Market is estimated to be US$ 360.9 billion by 2030 with a CAGR of 8.9% during the forecast period

 


Cancer Therapy Market,  By Cancer Type (Breast Cancer, Prostate Cancer, Blood Cancer, Gastrointestinal Cancer, Respiratory/Lung Cancer, Gynecologic Cancer, and Other Cancer Types), By Treatment Type (Immunotherapy, Hormonal Therapy, Chemotherapy, Targeted Therapy, and Other Treatment Types), By End User (Cancer and Radiation Therapy Centers, Hospitals, and Specialty Clinics), and Region - Global Forecast to 2030" global cancer therapy market is projected to grow from US$ 66.5 billion in 2019 Certain factors that are driving the market growth include increasing Patient Assistance Programs (PAPs), increasing government initiatives for cancer awareness, rising prevalence of cancer worldwide, and strong R&D initiatives from key players.  The upsurge in demand for personalized medicine and high potential of developing nations is expected to provide new opportunities for the market players in future.

 

Key Highlights:

·      In January 2020, Medtronic Launches Efficio software to help clinicians efficiently manage targeted drug delivery therapy with SynchroMed

·      In January 2020, Roche announced the completion of a supplemental Biologics License Application (sBLA) submission to the US Food and Drug Administration (FDA) for Tecentriq® (atezolizumab) in combination with Avastin® (bevacizumab), for the treatment of people with unresectable hepatocellular carcinoma (HCC) who have not received prior systemic therapy.

 

Key Market Insights from the report:        

The global cancer therapy market accounted for US$ 66.5 billion in 2019 and is projected to register a moderate CAGR of 8.50% over the forecast period. The market report has been segmented on the cancer type, treatment type, end user, and region.

·         By cancer type, breast cancer is expected to dominate in this segment, due to higher and continuously increasing prevalence of breast cancer across the world.

·         By treatment type, the target therapy segment is dominating in this segment, due to its specificity toward cancer cells, while sparing the toxicity to off-target cells.

·         By end user, the global cancer therapy market is sub-divided into cancer and radiation therapy centers, hospitals, and specialty clinics.

·         By region, North America is projected to lead the global cancer therapy market and is expected to remain dominant during the forecast period, owing to the increased adoption of cancer therapy.

 

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The prominent player operating in the global cancer therapy market includes Medtronic Inc., F. Hoffman-La Roche Ltd., Universal Cancer Therapy Inc., LifeScan Inc., Abbott Point of Care Inc., Sysmex Corporation, Pharmaco-Kinesis Corporation (PKC), Bio-Rad laboratories Inc., Cancer Therapy International Pte. Ltd., ACON Laboratories, Inc., Nova Biomedical Corp.

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