As per the reports, 1 out of 10 men and 1 out of 8 women in India have cancer. After cardiovascular diseases, cancer is the second most prevalent body disorder.
While numerous reasons contribute to cancer, the recent shift in lifestyle is a significant contributor to the increase in cancer cases. Some factors of modernisation that are the patron of cancer are:
- Smoking and drinking
- Food adulteration
- Vegetation on polluted land
- Artificial food colours
The oncology statistics help to understand the increase in cancer cases, medical upgrades needed and monitoring the requirements. It provides an opportunity to oversee the oncology future scope and its solutions.
One benefit of the sudden surge in cancer patients is the boost to the medical market. The global cancer market is seeing a positive trend in the cancer pharmaceutical industry. The prospering of the anti-cancer drug market at the high of USD 256.66 billion is proof of the prosperity of the pharmaceutical industry.
What Is Anti-Cancer Drugs Market Report Used For In India?
Cancer is the most dangerous ailment known to man. It is solely responsible for about 10% of deaths worldwide. The trickling numbers prove that the cancer industry consumes a heavy budget for treatment and medicine.
The anti-cancer drug market report highlights various pieces of information related to oncology’s future scope:
- The type of drug for cancer therapies is one prominent piece of information that the anti-drug report exhibits. These divide into chemotherapy, immunotherapy, hormonal, and targeted therapy.
- The reports also indicate the growth rate of different cancer types over time. It gives an idea about the oncology drug research and development process that Pinnacle is working on continuously.
- These records also talk about the prominent pharma contract manufacturers in India and their stakes.
- Companies get an idea of the oncology future scope and what product developments are the need of the hour.
- It also presents an overview of the market threats. Showing the negatives of the cancer drug markets boosts research and development of oncology.
How Is The Anti-Cancer Drug Market Prospering At USD 256.66 Billion?
If the anti-cancer drug market is prospering, some specific prime drivers assist in pushing the market in an upward trend.
Let’s dive into the various factors of the anti-cancer drug market.
- Increasing cases of cancer
The rising incidence rate of many types of cancer—such as breast, liver and skin cancers—is directly fuelling the demand for effective medical treatments.
The high incidence rate of lung cancer means there will likely be a high demand for anti-cancer drugs.
- High-cost cancer medications
The high cost of drugs is a significant issue for many citizens in India.
Multiple countries’ continuing economic woes and political uncertainty have led to questions about the sustainability of affordable public health care.
The lack of cost-effective drugs in poorer countries has contributed to low average life expectancies.
- Boost the healthcare infrastructure
Another significant factor influencing the cancer market’s growth rate is that rising healthcare expenditures help improve infrastructure.
As nations in the developing world continue to expand their healthcare systems, new and advanced medical technologies will be introduced into those markets. It will increase demand for oncology and chemotherapy drugs—and cancer treatments overall. Investment in the infrastructure for healthcare also boosts drug development opportunities.
- Research and development for cancer
The growing number of strategic collaborations between public and private market players is fuelling the growth in research and development activities.
This research and development work will create new drugs to help combat (and cure) cancer.
The increasing focus on oncology future scope treatments, the growing awareness about this disease, and increased efforts by government and private organisations to educate people about it will significantly boost demand for cancer therapies.
The rising demand for effective treatments and cost-effective drugs, as well as an increasing adoption rate of early diagnostic procedures, will positively affect the market’s growth.
- Introduction of cancer medicines with minimal side effects
With more effective anti-cancer drugs with fewer side effects coming into the market, sales of these medications will likely increase.
The anti-cancer drug market has three main types: immunotherapy (for treating melanoma), targeted therapy (which can slow or stop cancer growth) and chemotherapy.
The segment for targeted drugs accounts for more than 50% of the share value in the global anti-cancer drug market, with minimal side effects and effective results.
The sudden boost in the anti-cancer drug market is also due to emerging economies. The growing economies show a surge in disposable income. It is an indicator of better treatment opportunities.
Another notable reason can be the demand for medical tourism, which has opened more chances for further research and development in the anti-cancer drug industry.
Pinnacle is a pharma contract manufacturer in India dedicated to manufacturing cancer medicine for a better and healthy future. We have an oncology-devoted section that focuses on manufacturing the cure for cancer.