The cytotoxic drugs global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cytotoxic Drugs Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The cytotoxic drugs market size has grown strongly in recent years. It will grow from $14.54 billion in 2023 to $15.35 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rise in the prevalence of cancer globally, the increase in healthcare expenditure, the growth of the aging population, the availability of government funding and grants, and the increased public awareness about cancer treatments.
The cytotoxic drugs market size is expected to see strong growth in the next few years. It will grow to $19.21 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to the adoption of personalized medicine approaches, growth in the number of specialized cancer treatment centers, increasing incidence of cancer due to lifestyle changes, rising demand for combination therapies, and government initiatives supporting cancer treatment and research. Major trends in the forecast period include a shift towards targeted therapies over traditional chemotherapy, increasing use of biologics and biosimilars in cancer treatment, integration of artificial intelligence in drug discovery and development, and rise in collaborations between biotech firms and academic institutions.
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Scope Of Cytotoxic Drugs Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cytotoxic Drugs Market Overview
Market Drivers -The increased incidence of target diseases is expected to propel the cytotoxic drugs market going forward. Target disease refers to a specific illness or condition identified for focused medical research, treatment, or intervention efforts to improve patient outcomes. Major examples of target diseases include cancer, autoimmune diseases, genetic disorders, and more. Increased incidence of target diseases can be attributed to factors, such as genetic predisposition, environmental influences, and inadequate healthcare access. Cytotoxic drugs help to reduce the increased incidence of target diseases by killing or inhibiting the growth of disease-causing cells, thereby reducing their proliferation and spread. For instance, in February 2024, according to statistics published by the International Agency for Research on Cancer (IARC), a France-based specialized cancer agency of the World Health Organization (WHO), the world observed approximately 20 million new cancer cases and 9.7 million deaths in 2022, with projections indicating a 77% increase to over 35 million new cases by 2050. Additionally, in 2022, lung cancer was the most prevalent globally, with 2.5 million new cases (12.4% of all), followed by female breast cancer (2.3 million cases, 11.6%). Therefore, the increased incidence of target diseases is driving the growth of the cytotoxic drugs market.
Market Trends – Major companies operating in the cytotoxic drugs market are increasing their focus on developing advanced and innovative solutions, such as chimeric antigen receptor (CAR) T cell therapies, to provide transformative treatment options for patients with certain types of blood cancer. A CAR T cell therapy signifies a cutting-edge treatment utilizing genetically engineered T cells to combat cancer cells, marking a pioneering and singular therapeutic advancement in oncology. For instance, in March 2024, Bristol Myers Squibb, a US-based biopharmaceutical company, announced the Food and Drug Administration’s (FDA), a US-based federal agency, approval of Breyanzi, a CD19-directed chimeric antigen receptor (CAR) T cell therapy for adults experiencing a recurrence or resistance to treatment and suffering from chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL). This represents a significant advancement in drug development, showcasing personalized medicine through CD19-directed CAR T cell therapy for relapsed or refractory CLL or SLL. This discovery highlights the advancements in immunotherapy and customized medicine, providing more treatment options and increased efficacy, which are transforming the market for cytotoxic medications.
The cytotoxic drugs market covered in this report is segmented –
1) By Drug Type: Alkylating Agents, Antitumor Antibiotics, Antimetabolites, Plant Alkaloids, Other Drug Types
2) By Therapy: Chemotherapy, Radiotherapy, Immunotherapy, Stem Cell Transplantation, Other Therapies
3) By Application: Oncology, Rheumatoid Arthritis, Multiple Sclerosis, Other Applications
4) By End User: Hospitals, Cancer Research Centers, Drug Testing Laboratories, Contract Development And Manufacturing Organizations (CDMOs)
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Regional Insights – North America was the largest region in the cytotoxic drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cytotoxic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the cytotoxic drugs market are Pfizer Inc., Johnson & Johnson Services Inc., Roche Holding AG, Merck & Co., AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, Fresenius Kabi AG, GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Merck KGaA, Evonik Industries AG, Teva Pharmaceutical Industries Ltd., Baxter International Inc., Daiichi Sankyo Company Limited, Lonza, Eisai Co. Ltd., Sun Pharmaceuticals, Sumitomo Dainippon Pharma, Jazz Pharma, Ipsen Pharma, Kyowa Kirin Co. Ltd., Cipla Ltd., Mallinckrodt Pharmaceuticals, Hansoh Pharmaceutical Group Company Limited, Piramal Group
Table of Contents
- Executive Summary
- Cytotoxic Drugs Market Characteristics
- Cytotoxic Drugs Market Trends And Strategies
- Cytotoxic Drugs Market – Macro Economic Scenario
- Global Cytotoxic Drugs Market Size and Growth
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- Key Mergers And Acquisitions In The Cytotoxic Drugs Market
- Cytotoxic Drugs Market Future Outlook and Potential Analysis
- Appendix
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