The Business Research Company’s report on the Generic Oncology Drugs Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the generic oncology drugs market?
A significant rise in cancer patients is expected to propel the growth of the generic oncology drugs market going forward. Cancer refers to uncontrolled cell growth, which impacts various organs and contributes to significant morbidity and mortality worldwide. The availability of cost-effective generic oncology drugs plays a crucial role in cancer treatment by increasing access to essential therapies, promoting market competition, and reducing healthcare costs. For instance, in January 2022, according to the National Cancer Institute (NCI), a US-based government agency, in the United States, approximately 5.4% of the population, or 18.1 million individuals, were cancer survivors. In addition, 623,405 people were living with metastatic breast, prostate, lung, colorectal, or bladder cancer or metastatic melanoma in 2022, projected to rise to 693,452 by 2025. Therefore, the significant rise in cancer patients is driving the growth of the generic oncology drugs market.
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How has the generic oncology drugs market size evolved, and what are the latest forecasts for its expansion?
The generic oncology drugs market size has grown strongly in recent years. It will grow from $27.24 billion in 2024 to $29.15 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to patent expirations, healthcare cost containment, increased cancer prevalence, health insurance coverage, physician prescribing practices
The generic oncology drugs market size is expected to see strong growth in the next few years. It will grow to $38.16 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to biosimilar approvals, increased competition, telemedicine and remote care, tailored treatment paradigm, pricing pressure. Major trends in the forecast period include increased pharmacovigilance, regulatory streamlining, combination therapy focus, precision generic oncology medications, expanded market access.
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Which major companies dominate the generic oncology drugs market?
Major companies operating in the generic oncology drugs market include Pfizer Inc., AbbVie, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca Plc, Abbott Laboratories, Fresenius Kabi AG, GlaxoSmithKline PLC, Eli Lilly and Company, Merck & Co. Inc., Baxter International Inc., Mylan N.V., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Hikma Pharmaceuticals, Endo Pharmaceuticals Inc., Aspen Pharmacare Holdings Limited, Lupin Limited, Towa Pharmaceutical Co Ltd, Torrent Pharmaceuticals Ltd., Cadila Healthcare Ltd., Accord Healthcare
What trends will shape the future of the gastroparesis market?
Novel formulations are a key trend gaining popularity in the generic oncology drugs market. Major companies operating in the generic oncology drugs market are focused on developing novel drug delivery systems, modified-release formulations, and alternative dosage forms to improve patient compliance and sustain their position in the market. For instance, in January 2023, MSN Laboratories Private Limited, an India-based pharmaceutical company specializing in generic drugs, launched Palborest, the world’s first generic Palbociclib tablets for advanced breast cancer treatment. It is a generic breast cancer drug that offers a cost-effective alternative to the innovator tablet while maintaining bioequivalence. Its tablet dosage form provides a notable advantage over capsules as it can be taken with or without food and co-administered with proton pump inhibitors or antacids. Furthermore, the tablet formulation is free from lactose and gelatin, enhancing the drug’s efficacy.
Which region dominates the generic oncology drugs market, and what factors contribute to its leadership?
North America was the largest region in the generic oncology drugs market in 2024. The regions covered in the generic oncology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the generic oncology drugs market segmented, and which segment holds the largest share?
The generic oncology drugs market covered in this report is segmented –
1) By Molecule Type: Large Molecule, Small Molecule
2) By Route Of Administration: Oral, Parenteral
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacies, Managed Care Institutions
Subsegments:
1) By Large Molecule: Monoclonal Antibodies, Biologics, Biosimilars
2) By Small Molecule: Chemotherapeutics, Targeted Therapy Agents, Hormonal Therapy Drugs
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How is the generic oncology drugs market defined?
Generic oncology drugs refer to cancer medications produced by different pharmaceutical companies when the patent protection of the original brand-name drug is expired. These drugs contain the same active ingredients and have the same dosage forms, strength, route of administration, and intended use as the original brand-name drug.
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