Cytotoxic Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
在細胞毒性藥物市場的未來，將為每個主要目標人群做出多個一流的發展，可能會發現一系列新的治療方法以及對患者的潛在益處。Johnson＆Johnson Services Inc.、Eli Lilly and Company、Pfizer Inc.、Mylan NV等公司的研發支出呈指數增長。
The global cytotoxic drugs market size is expected to register a CAGR of 1.2% over the forecast period. The availability of novel drugs, presence of strong pipeline, and supportive government legislation for disease awareness are among the key trends in escalating market growth. Besides this, the growing incidence of cancer, coupled with increasing geriatric population and unorganized lifestyle, is estimated to provide a fillip to the market. As per the World Health Organization, cancer is the second-leading cause of death globally and is responsible for an estimated 9.6 million deaths in 2018. Globally, about one in six deaths are due to cancer. Treatment of cancer majorly includes chemotherapy that involves the use of cytotoxic drugs to inhibit cell division. The increasing number of chemotherapy procedures being performed due to rising cases of cancer is expected to increase the demand for cytotoxic drugs, which may drive the market studied.
The future of the cytotoxic drugs market has a high probability of gaining an array of novel therapies, with multiple first-in-class developments in each major target family, broadening the scope of potential benefits for patients. The R&D spending from companies, like Johnson & Johnson Services Inc., Eli Lilly and Company, Pfizer Inc., Mylan NV, has increased exponentially.
The wide range of pipeline drugs possessing high probability of approval in clinical trials in the future is predicted to provide lucrative growth opportunities to cytotoxic drugs market. For instance, AstraZeneca collaborated with Parexel for the development of novel drug with combination of cytotoxic chemotherapy and AZD7648 so as to treat advanced malignancies. Thus, it is anticipated to drive the growth of the market studied.
However, complications associated with cytotoxic drugs and high cost of these drugs may lead to a steep decrease for the market studied.
Increasing awareness and presence of established R&D infrastructure are among the key factors contributing to the growth of the market in North America. Moreover, the presence of key players such as Pfizer, Johnson & Johnson, and Fresenius Kabi AG in the region is expected to drive the growth. Rising awareness about the benefits of early detection of cancer has driven the U.S.-based companies to make considerable investments in the development of targeted therapy drugs.
Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period. Rapid growth in global demand for drugs has encouraged major drug manufacturers to set up facilities for manufacturing and R&D in this region. Initiatives undertaken by various organizations to create awareness, educate people, and raise funds for the disease is anticipated to propel regional growth.
The cytotoxic drugs market is moderately competitive and consists of local as well as global players. The major players include companies, such as Teva Pharmaceuticals USA Inc., Cipla Ltd, Mylan N.V., Pfizer Inc., Johnson & Johnson, and Fresenius Kabi AG, among others.
Growing collaborations, product differentiation, and initiatives for increasing awareness about cancer treatment are some of the key strategies adopted by these companies to maintain their market position. For instance, in December 2019, Johnson & Johnson runs the financial assistance programs available for DOXIL used in the treatment of cancer that provide free or low-cost health coverage to patients. This was carried out to expand the treatment options and gain a competitive advantage.