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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Oncology Drugs Market: Competitor Landscape
In December 2023, Absci Corporation, a leader in producing generative artificial intelligence antibody partnered with AstraZeneca to deliver AI designed antibodies with the help of Absci’s Drug Creation™ platform. It aims at leveraging AstraZeneca’s oncology expertise and Absci’s de novo AI antibody creation platform to create a new antibody therapy in oncology.
In December 2023, Pfizer completed the acquisition of Seagen for USD 43 billion. This ADC (antibody-drug conjugate) buyout has expanded Pfizer’s oncology pipeline to approximately 60 programs. As per Pfizer’s report, the recent buyout is expected to generate a USD 3.1 billion revenue in 2024. In recent times, ADC therapy developing companies have become a key area of attention amongst leading market players as they emphasize on enhancing the quality of oncological drugs present in the market.
The key features of the oncology drugs market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies added in the report are as follows:
- F. Hoffmann-La Roche Ltd.
- Novartis International AG
- Pfizer Inc
- Merck & Co., Inc.
- AstraZeneca PLC
- Bristol-Myers Squibb Company
- Johnson & Johnson
- AbbVie Inc.
- Sanofi
- Takeda Pharmaceutical Company Limited
- Eli Lilly and Company
- Celgene Corporation (Now part of Bristol-Myers Squibb)
- Gilead Sciences, Inc.
- Merck KGaA
- Ipsen S.A.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Oncology Drugs Market Report Snapshots
Oncology Drugs Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 165.9 billion in 2023 driven by increasing preference for personalised medicine across the major markets.
The market is anticipated to grow at a CAGR of 13.2% during the forecast period of 2024-2032, likely to reach a market value of USD 187.8 billion by 2032.
The market demand is driven by increasing incidence of cancer cases, increasing investments to offer personalised treatment options to patients and rising disposable incomes across the major markets.
The rising integration of artificial intelligence into making improved drug solutions is a major market trend. In September 2023, an Oxford based biotech company, Etcembly developed a generative artificial intelligence generated immunotherapy drug known as T-cell engagers. They were created with the help of an AI engine called EMLy and worked by bringing white blood cells closer to cancerous cells to facilitate cell death.
Based on therapy types, the market is divided into chemotherapy, targeted therapy, immunotherapy, and hormonal therapy.
It includes lung cancer, stomach cancer, blood cancer, colorectal cancer, breast cancer, prostate cancer, bladder cancer and others.
It is primarily divided into cytotoxic drugs, targeted drugs, hormonal drugs and others. cytotoxic drugs are further divided into alkylating agents, antimetabolites and others, while targeted drugs are segmented into monoclonal antibodies and others.
It can be injections, tablets, and others.
Major end users include hospitals and clinics, cancer research centers, ambulatory surgical centers, specialty clinics, retail pharmacies and online pharmacies.
The major regions of the market include the United States, Japan, EU-4 which is segmented into Germany, France, Italy, Spain, and the United Kingdom.
Key players involved in the market are F. Hoffmann-La Roche Ltd., Novartis International AG, Pfizer Inc., Merck & Co., Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, Johnson & Johnson, AbbVie Inc., Sanofi, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Celgene Corporation (now part of Bristol-Myers Squibb), Gilead Sciences, Inc., Merck KGaA and Ipsen S.A.
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