There is a significant rise in the incidence and mortality of cancer globally. According to the WHO, the global cancer burden is estimated to have risen to around 18.1 million new cases with around 9.5 million mortality in 2018. Cancer is the second leading cause of mortality across the globe. The main cause of cancer includes high body mass index, low fruit and vegetable intake, lack of physical activity, tobacco use, and alcohol use. Tobacco causes more than 22% of cancer casualties globally. The burden of cancer can be reduced by performing early detection of cancer and the management of patients who develop cancer, which may include proper and effective medication. Thereby, surge in the number of cancer patients is likely to drive the global oncology drugs market.
Browse the full report description Global Oncology Drugs Market Size, Share & Trends Analysis Report by Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, and Hormonal Therapy), by Indication (Lung Cancer, Colorectal Cancer, Prostate Cancer, Bladder Cancer, Liver Cancer, and Others) and Forecast 2019-2025 https://www.omrglobal.com/industry-reports/oncology-drugs-market
Growing adoption of personalized medicine is augmenting the oncology drugs market
The increasing adoption of personalized medicines for cancer treatment is furthermore augmenting the growth of the oncology drugs market. Personalized medicine has the potential to modify therapy with the best response and highest safety margin to ensure better patient care. Personalized medicine holds promise for improving healthcare while lowering costs by enabling each patient to receive earlier diagnoses, optimal treatments, and risk assessments, expected to be a positive indicator for oncology drugs market growth. There is a diversity of personalized medicines in development.
Around 42% of all compounds and 73% of oncology compounds in the pipeline have the potential to be personalized medicines. Biopharmaceutical companies nearly doubled their R&D investment in personalized medicines over the past five years and expect to increase their investment in the future. Moreover, estimates of disease susceptibility or disease prognosis can be improved by combining test results with knowledge about various factors such as age, lifestyle, or Tumor size. This is promising for predicting disease susceptibility, disease prognosis, or drug response of an individual patient.
Current Market Trends Covered in the Global Oncology Drugs Market Report
Global Oncology Drugs Market Segmentation
By Drug Class Type
By Indication
Global Oncology Drugs Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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