The anti-neoplastic agent is a type of drug that is primarily used as a priority treatment in cancer therapy and combined with immunotherapy, radiotherapy, or surgical therapy. They function by traveling inside the human body to destroy the cancerous cells. Anti-neoplastic agents are available commercially for the therapy of various kinds of cancers.
According to a report published by Market Research Future (MRFR), the global anti-neoplastic agents market for is projected to reach approximately USD 150 billion by the end of the forecast period and is anticipated to grow at an impressive CAGR of 8% during the forecast period 2016 to 2022.
The rising geriatric population, the alarming prevalence of diseases due to changes in lifestyle, and the demand for cost-effective cures for cancer are primarily driving the anti-neoplastic market and are estimated to contribute significantly to the market growth over the forecast period. additionally, the increasing expenditure by government authorities globally, favorable reimbursement policies, among others, are also driving the market growth. On the other hand, factors such as the lack of expertise of cancer treatment in underdeveloped and some developing nations, the risk of technological complications involved in the present diagnostic and treatment methods, are estimated to hamper the market growth for antineoplastics agents.
Global anti-neoplastic agents market has been segmented on the basis of type, end user, and region.
Based on the type, the anti-neoplastic agents market has been segmented into alkylating and alkylating-like agents, antimetabolites, plant alkaloids, hormonal agents, antitumor antibiotics, and miscellaneous agents. Based on the end user, the market is segmented into a cancer rehabilitation center, hospitals, clinics, research institutes, and others.
Based on the region, the global anti-neoplastic agents market has been segmented into North and South America, Europe, Asia Pacific, and the Middle East and Africa.
The key players in the global market for antineoplastic agents are Boehringer Ingelheim GmbH, Bayer AG, Amgen Inc., F. Hoffmann-La Roche Ltd, Aspen Holdings, Pfizer Inc., Baxter Healthcare Corporation, Bristol-Myers Squibb Company Genentech Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd, and others.
North and South America the largest market for anti-neoplastic agents and is estimated to reach a valuation of approximately USD 111 billion by the end of the forecast period. North America has a significant contribution to the leading market standing and is estimated to help sustain the market share over the forecast period, due to the advanced healthcare infrastructure and facilities, government expenditure, and the commonly followed unhealthy lifestyle of the consumers leading to chronic diseases.
Europe is the second largest, and second-leading region in the global anti-neoplastic agents market and follows closely behind North America in the global market share. The UK and Germany are responsible for the market growth in this region owing to the favorable government policies and funding, advancement in the healthcare sector, and awareness of antineoplastic agents.
Asia Pacific region is expected to be the fastest growing region in anti-neoplastic agents market. Developed economies such as Australia and Japan are done to contribute majorly to the market growth followed by developing countries like China and India. factors such as an increase in disposable incomes, awareness of the advantages of early diagnosis, improving healthcare sector, among others, are estimated to drive the anti-neoplastic agents market in the Asia Pacific region over the forecast period.
The middle east an Africa region is estimated to witness a slow and gradual market growth owing to the lack of proper healthcare facilities, lack of awareness about optimal healthcare and antineoplastic agents, lack of skilled expertise towards cancer cure and medical treatments.
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