Radiology and Oncology

Market for Cancer Drugs

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Now a days global cancer drugs is primarily driven by increasing of cancers among peoples. Annual global growth in the cancer drug market is expected to be 7.5% – 10.5 % through 2020, reaching $150 billion. Immunotherapy dominates the global market for cancer drugs due to its high efficacy and fewer side effects. Moreover, the disposable income and reimbursement of life-threatening diseases are very high in this region which promotes the growth of cancer drugs market.

North America represents developed regional markets for cancer drugs and is expected to see the rapid growth in the years to come. The U.S. is by far the leading cancer drugs market by country in North America. Moreover, the disposable income and reimbursement of life-threatening diseases are very high in this region which promotes the growth of cancer drugs market.

Europe was the second largest regional market and is expected to show significant growth in the years to come. This growth is mainly due to an increase of patients diagnosed with cancer.

Asia-Pacific is expected to witness noticeable growth in the near future. In Asia, China, India, and Japan will continue to be the fastest growing markets in cancer drugs market. Growth in Asia-Pacific market is expected to be driven by increasing tobacco consumption, growing population, and increasing disposable income.