Cancer Treatment Drugs is Expected to Showcase a CAGR Of 10% due to the introduction of trispecific antibodies| Univdatos Market Insights
According to a new report published by UnivDatos Markets Insights, the cancer treatment drugs market was valued at USD 150 billion in 2021 & is expected to grow at a CAGR of 10% from 2022-2028

According to a new report published by UnivDatos Markets Insights, the cancer treatment drugs market was valued at USD 150 billion in 2021 & is expected to grow at a CAGR of 10% from 2022-2028. The analysis has been segmented into Drug Class {Cytotoxic Drugs (Alkylating Agents, Antimetabolites, and Others), Targeted Drugs (Monoclonal Antibodies, and Others), Hormonal Drugs, and Others}; Therapy (Chemotherapy, Immunotherapy, and Targeted Therapy); Indication (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, and Others); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies); Region/Country.

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The cancer treatment drugs market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the cancer treatment drugs market. The cancer treatment drugs 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 cancer treatment drugs market at the global and regional levels.

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Key Market Opportunities

At present, only monoclonal and bispecific antibodies have been approved for the management of cancer. However, their huge adoption in the global market and their promising response has led to the development of novel trispecific antibodies which have the ability to bind to three different antigens simultaneously. Till date, no trispecific antibody has been approved for clinical use. However, a wide range of drugs are present in preclinical and clinical development which is expected to enter the market during forecast period. GTB3550 developed by GT Biopharma is one of the leading trispecific killer cell engager (TriKE) which consists of chains of anti-CD16 and anti-CD33 antibodies and a modified form of IL5. Currently, it is being evaluated in phase-I/II clinical trial for the management of CD33 positive acute myeloid leukemia. Apart from this, pharmaceutical companies are actively investing in the trispecific antibodies development, which will also propel the market growth during the forecast period. For instance, in February 2023, Purple Biotech entered into an agreement for the acquisition of Immunorizon Ltd. The acquisition will provide Purple Biotech with an expanded portfolio of investigational tri-specific antibody compounds that target multiple antigens and offer the potential to further expand to additional targets.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the cancer drugs market. The pandemic has caused disruptions in the supply chain, clinical trials, and healthcare delivery systems, which have affected the development, manufacturing, and distribution of cancer drugs. The global cancer treatment drugs market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated. The pandemic has also resulted in reduced access to cancer drugs for patients, as healthcare systems have been overwhelmed with COVID-19 cases and have had to postpone or cancel non-essential medical procedures. This has led to delays in cancer diagnosis and treatment, which can have a significant impact on patient outcomes.

·       By drug class, the market is segmented into cytotoxic drugs, targeted drugs, hormonal drugs, and others. The targeted drugs held the dominant share in the market in 2021 as these drugs are aimed directly at the cancer cells while having less impact on the normal cells.

·       By therapy, the market is categorized into chemotherapy, immunotherapy, and targeted therapy. The immunotherapy category is expected to grow with a high CAGR during the forecast period.

·       On the basis of indication, the market is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, and others. The lung cancer segment held the dominant share of the market in 2021 due to the growing number of patients with lung cancer.

·       On the basis of distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Online pharmacies are expected to register a high CAGR during the forecast period.

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Cancer Treatment Drugs Market Geographical Segmentation Includes:

·       North America (U.S., Canada, and the Rest of North America)

·       Europe (Germany, UK, Spain, France, Italy, Rest of Europe)

·       Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)

·       Rest of the World

North Aerica held a dominant share in the market in 2021 owing to increased adoption of cancer therapy and rise in the incidence of cancer in U.S. According to the Globocan 2020 report, an estimated 2,281,658 new cancer cases were diagnosed in the U..S in 2020, with nearly 612,390 deaths. Apart from this, the presence of major key players, rising investments by pharmaceutical companies, and favorable government regulatory policies are also propelling regional market growth. For instance, in March 2020, Johnson and Johnson received the US FDA Breakthrough Therapy Designation for JNJ-61186372 (JNJ-6372) for the treatment of patients with metastatic non-small cell lung cancer (NSCLC). Thus, given the aforementioned factors, the cancer therapy market is expected to grow significantly over the forecast period in North America.

Competitive Landscape

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 cancer treatment drugs market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

Recent Developments:

·       In August 2022, The European Investment Bank (EIB) provided €22 million (USD 23.41 million) in financing to Ryvu Therapeutics, a Polish clinical-stage drug discovery and development company focusing on novel small molecule therapies that address unmet medical needs in oncology.

·       In March 2022, Sanofi and Blackstone announced a strategic, risk-sharing collaboration under which funds managed by Blackstone Life Sciences (BXLS) will contribute up to €300 million (USD 319.24 million) to accelerate the global pivotal studies and the clinical development program for the subcutaneous formulation and delivery of the anti-CD38 antibody Sarclisa, to treat patients with multiple myeloma (MM).

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the cancer treatment drugs market?

• Which factors are influencing the cancer treatment drugs market over the forecast period?

• What are the global challenges, threats, and risks in the cancer treatment drugs market?

• Which factors are propelling and restraining the cancer treatment drugs market?

• What are the demanding global regions of the cancer treatment drugs 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?

• What are the descriptive profiles of key companies along with their SWOT analysis?

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