Cancer Therapeutics Market Overview and Introduction

Cancer Therapeutics describes a treatment, therapy, or drug in a patient, often with surgery, chemotherapy, targeted therapy, radiotherapy among others. A cancer patient might receive many different types of therapy depending on the type & stage of cancer aimed to relieve the symptoms of cancer, such as pain and benefit the health of an individual.

The global cancer therapeutics market is mainly driven by upsurge in cancer prevalence globally, and increasing government initiatives for cancer awareness. Moreover, rise in collaboration between pharmaceutical companies for cancer research activities have also played a pivotal role in contributing to market growth globally. However, high cost of cancer therapy associated with the treatment along with adverse effects associated with cancer therapeutics is likely to restrain market growth to a certain extent.

The global cancer therapeutics market can be segmented into treatment type, application, end user, and regions.

Cancer Therapeutics Market by Treatment Type

Based on treatment type, the market is segmented into chemotherapy, targeted therapy, immunotherapy, hormonal therapy and others. The targeted therapy segment is expected to dominate the cancer therapeutics market during the forecast period. The growth of the segment can be attributed to, its specificity toward cancer cells, while sparing the toxicity to off-target cells.

Cancer Therapeutics Market by Application

On the basis of application, the market can be segmented into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer and others. The breast cancer segment is expected to dominate the cancer therapeutics market during the forecast period followed by lung cancer. The growth of breast cancer segment can be attributed to surge in prevalence of breast cancer across the globe.

Cancer Therapeutics Market by End User

Based on the end user, the market can be segmented into hospitals, cancer specialty centers and others. The hospitals segment is expected to dominate the cancer therapeutics market during the forecast period owing to frequent visits of patients to hospitals for diagnosis and treatment of cancer.

Cancer Therapeutics Market by Region

Based on region, the global cancer therapeutics market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the cancer therapeutics market, followed by Asia Pacific. The growth in North America can be attributed to the high number of ongoing R&D activities, advanced health care infrastructure and better reimbursement plans.

Cancer Therapeutics Market Prominent Players

Some of the prominent players in the cancer therapeutics market include Amgen Inc., Bayer AG, Johnson & Johnson Services, Inc., Merck & Co., Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche Ltd, AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company among others.