Increased spending on cancer-related R&D by various governments, private and commercial organisations, and investments in anti-cancer drugs are the two key factors expected to drive generic oncology drug demand through 2019, according to a recent market analysis of generic oncology drugs. The global revenue from generic oncology drug sales will exceed US$ 23 billion in 2021, growing at a robust annual rate of more than 6.1 percent.
Request a sample report by emailing: https://www.zionmarketresearch.com/sample/generic-oncology-drugs-market
“According to ZMR, a significant product pipeline for generic oncology drugs is expected to drive lucrative business opportunities.” Furthermore, with the industry’s pipeline reaching a historic level of late-stage development in 2017, with nearly 90% of therapies being targeted treatments and clinical success rates increasing to nearly 73%, the market for generic oncology drugs is expected to grow, further expanding the pipeline cancer treatment,” explained a senior research analyst.
Small Molecule Generic Oncology Drugs Have a Lot of Potential in 2019.
Small molecule generic oncology drugs, which combine the efficacy of chemotherapy and immunotherapies, are expected to grow at a rather high CAGR of nearly 6.7 percent, potentially enhancing current cancer treatment modalities. Despite significant progress in immunotherapy alone, small molecules are expected to outperform large molecules and dominate the cancer treatment landscape as medical researchers continue to validate the positive outcomes of combining traditional cancer treatment with new immunotherapies, thereby providing increased benefits to cancer patients.
Although ZMR analysis shows that small molecules have a lower market share than market molecules, as a modality, small molecules are likely to benefit from their cross-membrane ability, allowing them to reach more intracellular targets. Furthermore, because small molecules generic oncology drugs have a half-life of less than 24 hours, they are more likely to achieve greater efficacy after a more convenient oral administration, allowing researchers and clinicians to balance the side effects of combination trials through intermittent cancer treatment dosing.
“Research also indicates that small as combination partners for checkpoint inhibitors are used in more than a quarter of immune-oncology clinical trials, positioning small as a unique compound class for superior immune-oncology treatments,” the analyst adds.
Possibilities for Revenue Pockets in Emerging Economies
The generic oncology drugs landscape is expected to present significant revenue generating avenues for drug manufacturing companies, with an annual growth rate of approximately 7.5 percent, according to APECJ. Increased research and development on biological and targeted drug therapies, early patent expiration, and a greater emphasis on personalised treatment medication are some of the major factors contributing to future avenues for the APECJ generic oncology cancer drugs market. In Japan, however, stringent regulations governing the drug discovery and development process may stymie the growth of the generic oncology drugs market.
“Rising awareness and demand for early cancer detection are expected to translate into homegrown generic oncology drugs, presenting revenue opportunities for local drug manufacturers.” Favorable reimbursement schemes for critical drugs, as well as significant funding for drug manufacturing infrastructure by government and private organisations in emerging economies, are some key factors contributing to generic oncology drug sales. Furthermore, contract manufacturing initiatives for biopharmaceuticals and small molecules could broaden the future scope of generic oncology drugs, according to the senior analyst.
ZMR presents an assessment of the competitive landscape, which is dominated by key companies such as Novartis AG, Pfizer Inc, GlaxoSmithKline Plc, Celgene Corp., Mylan N.V., Merck & Co., Inc, NATCO Pharma Limited, and Aurobindo Pharma, in its in-depth analysis of the generic oncology drugs market.
Get access to the complete summary at: https://www.zionmarketresearch.com/report/generic-oncology-drugs-market
This segment’s key insights include:
To drive sales at retail locations, Novartic AG has used channel integration strategies such as e-commerce and a mobile app. Furthermore, the company recently granted Laekna, a Shanghai-based company, global rights to the AKT inhibitors afuresertib and uprosertib. Furthermore, Novartis AG received CE mark for Kymriah, a gene-modifying therapy for blood cancer.
Pfizer Inc., on the other hand, is focusing on 39 therapies in the R&D pipeline for oncology and biosimilars in order to strengthen the product portfolio’s core areas. Glasdegib, a drug developed by Pfizer, was granted priority review by the US FDA in 2017 for patients with previously untreated acute myeloid leukaemia. In the same year, the FDA approved the company’s XTANDI (enzalutamide).