Anti-Neoplastic Agents Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Anti-neoplastic agents refer to drugs that inhibit or destroy abnormal tissue growth, specifically targeting and combating cancerous cells in the body. They have a vital role in cancer treatment by disrupting the processes involved in tumor development and progression.

Sizing and Forecast

The anti-neoplastic agents market size has grown rapidly in recent years. It will grow from $118.03 billion in 2023 to $130.01 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increasing cancer incidence, growing demand for therapies, rising demand for minimally invasive cancer treatments, demand for affordable anti-neoplastic treatments.

The anti-neoplastic agents market size is expected to see strong growth in the next few years. It will grow to $184.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to patient education and awareness, government initiative, growing demand for personalized cancer treatment, growing focus on quality of life in cancer treatment. Major trends in the forecast period include advancements in oncology research, development of targeted therapies, biotechnology innovation, advancements in diagnostic tools.

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Segmentation & Regional Insights

The anti-neoplastic agents market covered in this report is segmented –

1) By Type: Alkylating Agents; Antimetabolites; Hormones And Antagonists; Miscellaneous

2) By Disease Type: Gastrointestinal Cancer; Prostate Cancer; Lung Cancer; Breast Cancer; Other Disease Types

3) By End User: Hospitals; Clinics; Cancer Rehabilitation Centers; Ambulatory Surgical Centers

North America was the largest region in the anti-neoplastic agents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in anti-neoplastic agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The increasing number of cancer cases is expected to propel the growth of the antineoplastic agent market going forward. Cancer is a category of illnesses that can develop in nearly any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their normal boundaries and either spread to other organs or invade neighboring body parts. Antineoplastic agents play an essential role in cancer treatment by inhibiting cancer cell growth and division through various mechanisms, including DNA (Deoxyribonucleic acid) damage, cell cycle disruption and interference with crucial cellular pathways. For instance, in 2023, according to the American Cancer Society Inc., a US-based non-profit health group, 1.9 million new cancer cases are expected to be diagnosed in the US, an increase from 1.8 million new cancer cases diagnosed in 2020. Further, 609,820 cancer-related deaths are anticipated in 2023, an increase from 606,520 in 2020. Therefore, the increasing number of cancer cases is driving the growth of the antineoplastic agent market.

Key Industry Players

Major players in the anti-neoplastic agents market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Fresenius SE & Co. KGaA, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Eisai Co. Ltd., Sun Pharmaceutical Industries Limited, Ipsen SA, Cipla Limited, Dr. Reddy’s Laboratories Ltd., Intas Pharmaceuticals Limited, Hikma Pharmaceuticals PLC, Gland Pharma Limited, Zydus Lifesciences Limited, Glenmark Pharmaceuticals Ltd., Jubilant Life Sciences Ltd., Lantheus Holdings Inc., Hutchison Medipharma Ltd., Natco Pharma Ltd., Accord Healthcare Limited, Qilu Pharmaceutical Co. Ltd.

The anti-neoplastic agents market report table of contents includes: