Global Cancer Drugs Market worth to gain $161.30 bn by 2021, according to new statistics released by the Zion Market Research, the market research group.
Cancer starts when cells grow out of control and outnumber normal cells. Uncontrolled growth of cell leads to a formation of a tumor which can interfere with the nervous, digestive, and circulatory systems. Tumor cell releases hormones that alter body functions. Tumors that stay in one location and show limited growth are considered as benign cancer. Whereas, the cancerous cell which flows throughout the body part, using blood, lymph, and destroying the healthy tissue are called malignant cancer. Different types of drugs are administered to cancer patients depending upon therapy used to treat the patient and type of cancer.
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North America represents developed regional markets for cancer drugs and is expected to see the rapid growth in the years to come. The U.S. is by far the leading cancer drugs market by country in North America. The U.S. market is expected to grow at the highest CAGR during the forecast period. This growth is mainly due to the well-developed healthcare infrastructure and increases in research and development on cancer drugs. Moreover, the disposable income and reimbursement of life-threatening diseases are very high in this region which promotes the growth of cancer drugs market.
Europe was the second largest regional market and is expected to show significant growth in the years to come. This growth is mainly due to increase in a number of patients diagnosed with cancer.
Asia-Pacific is expected to witness noticeable growth in the near future. In Asia, China, India, and Japan will continue to be the fastest growing markets in cancer drugs market. Growth in Asia-Pacific market is expected to be driven by increasing tobacco consumption, growing population, and increasing disposable income.
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In Middle East & Africa; African region is projected to register low growth rate due to lack of awareness and a high cost of cancer drugs. Latin America is another important regional market and is expected to experience moderate growth over the forecast period. Thus, all the aforementioned parameters are expected to propel the market growth in this region.
This report segments the global cancer drugs market as follows:
Global Cancer Drugs Market: Therapy Segment Analysis
- Targeted Therapy
- Hormone Therapy
Global Cancer Drugs Market: Application Segment Analysis.
- Breast Cancer
- Blood Cancer
- Gastrointestinal Cancer
- Prostate Cancer
- Skin Cancer
- Lung Cancer
Global Cancer Drugs Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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