by Oncology drug pipeline analysis involves the discovery and development of cancer drugs and therapies. It helps pharmaceutical companies identify candidates in drug development for areas of unmet medical needs. The growing prevalence of cancer and robust drug pipeline drives the growth of this market.
The global Oncology Drug Pipeline Analysis Market is estimated to be valued at US$ 188.20 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the oncology drug pipeline market is the significant increase in the number of pipeline drugs for targeted cancer therapies. Targeted therapies have emerged as an important treatment option due to their ability to precisely target specific molecular alterations in cancer cells while causing fewer side effects than traditional chemotherapy. Many pharmaceutical companies are focusing on developing targeted therapies for cancers with unmet needs. For instance, Pfizer has more than 15 targeted cancer drugs in its pipeline including therapies for breast and prostate cancers.
SWOT Analysis
Strength: The oncology drug pipeline is very robust with numerous drugs in development for various types of cancer. Growing R&D investments from big pharmaceutical companies is leading to development of novel targeted therapies.
Weakness: Development of oncology drugs is highly complex and capital intensive process. Failure rates in late stages of clinical trials are high which increases costs and risks for pharmaceutical companies.
Opportunity: Rising cancer burden globally due to lifestyle changes and ageing population is driving the demand for innovative oncology treatment options. Asia Pacific region in particular offers huge market potential for novel cancer drugs.
Threats: Price control regulations by governments globally aim to reduce healthcare costs which can impact profitability of high priced specialty oncology drugs. Stiff competition within established therapeutics classes like checkpoint inhibitors poses pricing and market share challenges.
Key Takeaways
The Global Oncology Drug Pipeline Analysis Market Size is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing demand for targeted therapies to treat various cancers more effectively with lesser side effects.
North America currently dominates the market due to presence of leading biopharmaceutical companies and rising healthcare expenditure. However, Asia Pacific region is expected to be the fastest growing market owing to huge patient pool, rising healthcare standards and increasing collaborations between global drug makers and local players.
Key players operating in the oncology drug pipeline analysis market are F. HOFFMANN-LA ROCHE AG, PFIZER, INC., ASTELLAS PHARMA INC., NOVARTIS INTERNATIONAL AG, ASTRAZENECA PLC, BRISTOL-MYERS SQUIBB COMPANY, ABBVIE INC., AMGEN, INC., MERCK & CO., INC., JOHNSON & JOHNSON. These players are investing heavily in novel targeted drug development through organic and inorganic growth strategies to strengthen their product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
