Pune, India, Feb. 01, 2021 (GLOBE NEWSWIRE) -- The global injectable cytotoxic drugs market size is expected to reach USD 29.60 billion by 2027, exhibiting a CAGR of 8.1% during the forecast period. The rising cases of cancer have resulted in high dependency on cytotoxic drugs, which, in turn, will bolster healthy growth of the market, states Fortune Business Insights, in a report, titled “Injectable Cytotoxic Drugs Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Alkylating Drugs, Cytotoxic Antibodies, Antimetabolites, Plant Alkaloids, and Others), By Application (Oncology, Rheumatoid Arthritis, Multiple Sclerosis, and Others) By End-user (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) and Regional Forecast, 2020-2027.” The market size stood at USD 15.81 billion in 2019.
The report on the injectable cytotoxic drugs market includes:
- Exceptional insights into the market
- Meticulous scrutiny of the segments
- Recent developments and drivers
- Vital information about key players
- Dominant regions
- Key development
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Rising Prevalence of Cancer and Rheumatoid Arthritis to Drive Market
The increasing incidence of cancer due to various environmental factors such as tobacco smoking, urbanization, and changing diet patterns will spur growth opportunities for the market. According to the World Health Organization (WHO), cancer is a growing burden, and the number of new cancer cases are expected to rise from 18.1 million in 2018 to 29.4 million by 2040. Moreover, the rising prevalence of rheumatoid arthritis and multiple sclerosis will have a tremendous impact on the market in the forthcoming years. The growing awareness about the benefits of injectable cytotoxic drugs in cancer treatment can encourage the market's healthy growth. According to the Center for Disease Control and Prevention, around 41 individuals out of 100,000 are affected with rheumatoid arthritis each year in the U.S.
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Surging Demand for Injectable Cytotoxic Drugs to Contribute Impetus During Coronavirus
The COVID-19 had a promising effect on the global market. The excessive demand for drugs attributed to the COVID-19 emergency can have an outstanding impact on the cytotoxic drugs business. The pharmaceutical companies are focused on supply chain management, enhanced capabilities, and investments in manufacturing management and quality control, which, in turn, will boost the market growth. According to the quarterly reports of 2020 of Roche, their global supply chain of medicines and tests remained intact. Their pharmaceutical division sales increased by 7% compared to the prior year. This growth was led by oncology drugs such as Tecentriq and Perjeta. Hence, the growing supply and demand for injectable cytotoxic drugs therapies will enable speedy expansion of the market amid coronavirus.
Rising Number of Cancer Patients to Amplify Growth in North America
The market in North America stood at USD 7.69 billion in 2019 and is expected to remain dominant during the forecast period. The growth is attributable to the rising number of cancer patients. Moreover, the increasing adoption of injectable cytotoxic drugs will support the development of the market. For Instance, according to the American Cancer Society, in 2019, an estimated 268,600 new cases of invasive breast cancer were diagnosed in women, and about 2,670 cases were diagnosed in men in the U.S alone.
The Asia Pacific market is expected to expand radically during the forecast period due to the increasing patient pool and expanding healthcare spending in the region. The rising purchasing power of the consumers in the emerging economies, namely, India and China, will propel Asia Pacific's injectable cytotoxic drugs market growth.
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Key Development:
July 2019: Pfizer announced its definitive agreement with Mylan, creating a new global pharmaceutical company, Viatris. This merger has helped Pfizer expand its global reach and fulfill the growing need for accessible medicines and injectables worldwide.
The Report Lists the Key Companies in the Injectable Cytotoxic Drugs Market:
- Johnson and Johnson Services Inc., (U.S)
- Sanofi (France)
- Eli Lilly and Company (U.S)
- Bristol-Myers Squibb Company (New York, U.S)
- F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
- Novartis AG (Basel, Switzerland)
- Pfizer, Inc (New York, U.S)
- Merck & Co. Inc (New Jersey, U.S)
- Amgen (California, U.S.)
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Table of Contents:
- Introduction
- Market Scope
- Market Segmentation
- Market Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Key Cancer Indications –Key Regions/Country
- Regulatory Scenario - Key Countries/Regions
- Pipeline Analysis
- Impact of COVID-19 on the Global Market
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Injectable Cytotoxic Drugs Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Alkylating Drugs
- Cytotoxic Antibodies
- Antimetabolites
- Plant Alkaloids
- Others
- Market Analysis, Insights and Forecast – By Application
- Oncology
- Multiple Sclerosis
- Rheumatoid Arthritis
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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