Global Solid Tumor Therapeutics Market report 2018 Stand Out as the Biggest Contributor to Global Growth and Will Hit 15% CAGR By 2023 in upcoming years
Solid Tumor Therapeutics Market research report (2018 – 2023) studies market insights, List of major Key players, buyers, threats of new entrants and substitute products. Also, Solid Tumor Therapeutics market includes the various market dynamics like Drivers, Restraints, and Opportunities globally. The research report involved the various affecting factors like market growth, market share, competitive intelligence and growth opportunity.
“Solid Tumor Therapeutics Market report is expected to register a CAGR of 15% over a five years forecast period.”
List of Major Key players operating in the Global Solid Tumor Therapeutics Market are –
- Abbott Laboratories
- AstraZeneca PLC
- Baxter International
- Boehringer Ingelheim GmbH
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- F.F. Hoffmann-La Roche AG
- GlaxoSmithKline PLC
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The global solid tumor therapeutics market is expected to register a CAGR of 15% during the forecast period of 2018–2023. Solid tumor therapeutics are pharmaceuticals that specifically treat various cancers, such as breast cancer, lung cancer, colorectal cancer, prostate cancer, cervical cancer, and others. Solid tumors are an abnormal mass of tissue that usually does not contain cysts or liquid areas.
Increasing Incidence of Cancer
Cancer has a major impact on societies across the world. The most common cancers in 2016 were breast cancer, lung & bronchus cancer, prostate cancer, colon & rectum cancer, bladder cancer, melanoma of the skin, non-Hodgkin lymphoma, thyroid cancer, kidney & renal pelvis cancer, leukemia, endometrial cancer, and pancreatic cancer. In 2014, an estimated 15,780 children and adolescents of ages zero to 19 were diagnosed with cancer, and 1,960 died of the disease. In 2012, 14.1 million new cases were reported worldwide. More than four out of 10 new cases of cancer were lung, female breast, bowel or prostate cancer, worldwide. So, this increasing incidence of cancer is driving the solid tumor therapeutics market.
The other factors, such as the increase in demand for POC testing, new product approvals in ovarian, pancreatic and prostate cancers, and the increase in molecular testing are driving the solid tumor therapeutics market.
Price Erosion Due to Generic Competition
The pharmaceutical company, Novartis, has seen a decline in their income due to the competition for their generic drug, Gleevec, in the United States. The generic drug became available in February 2016. The company’s net income fell from USD 2.31 billion to USD 2.01 billion in 2015.
The United States patent for the basic compound for Gleevec expired in July 2015, resulting in one of Sun Pharmaceutical Industries’ subsidiaries being allowed to sell a generic version of the drug in America from February 2016. Gleevec has already been launched in the United States, while the European launch was in December 2016. The generic copy could harm sales of Novartis’s best-selling drug, which accounts for approximately 24% of its oncology portfolio, and 15% of its pharmaceutical offering. The patent for Pemetrexed expired in Japan and major European countries in December 2015, while the United States patent expired in January 2017. Meanwhile, generics from competitors gaining approvals in Europe and Japan are expected to hamper the drug’s future sales. Ortho Biotech Oncology Research & Development, a member of the Johnson & Johnson family of companies, developed the drug, which received the US FDA approval in April 2011. It is protected by two patent licenses and is marketed by another Johnson & Johnson company, Janssen Biotech. A lawsuit was filed against Mylan regarding the filing of an abbreviated new drug application (ANDA) with the US FDA for producing a generic version of Zytiga. These generic medicines are hindering the growth of the solid tumor therapeutics market. The other factors, such as expensive procedures and regulatory complications are also hindering the growth of the market.
United States Leads the Market in North America
The United States solid tumor therapeutics market held the largest market share in 2017 in the North American region due to the presence of high-quality healthcare system and modern medical technology in the country. Additionally, the growing awareness about cancer among the public is likely to contribute towards the growth of the solid tumor therapeutics market.
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Global Solid Tumor Therapeutics Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2018-2023):
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
- Asia Pacific (China, Japan, India, Southeast Asia and Australia)
- Latin America (Brazil, Argentina and Colombia)
- The Middle East and Africa
Key Questions Answered About Solid Tumor Therapeutics Market:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the Solid Tumor Therapeutics market for selective countries?
- Which region or sub-segment is selected is expected to drive the market in the forecast period?
- What factors are estimated to drive and restrain the market growth?
- What are the key technological and Solid Tumor Therapeutics market trends shaping the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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Reasons to Purchase Solid Tumor Therapeutics Market Report:
- The report analyses how stringent emission control norms will drive the global Solid Tumor Therapeutics market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Solid Tumor Therapeutics market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
Scope of the Report:
The report analyses Solid Tumor Therapeutics market, which includes –
- Analysis of the growth of Solid Tumor Therapeutics market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Solid Tumor Therapeutics market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Solid Tumor Therapeutics market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Solid Tumor Therapeutics market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
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