Solid tumors drugs: Key market research findings
- The Americas dominate the market geographically
- The biological segment accounts for a majority share of the market’s revenue
- Key vendors – Roche, Novartis, Celgene, Johnson & Johnson, Pfizer, and BMS
Technavio’s market research analysts predict the global solid tumors drugs market to grow at a CAGR of almost 9% between 2016 and 2020. The demand for solid tumors drugs is augmented by the provision for rare diseases. Such provisions for drugs developed to treat rare diseases helps overcome limitations associated with rare diseases that have a relatively smaller market for treatment. During 2015, the Americas dominated the global solid tumors drugs market by accounting for around 51% of the total market share. The higher uptake of existing biologic drugs and the subsequent launch of new biologics are factors that fuel growth in the solid tumors drugs market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the solid tumors drugs segments based on the molecule type.
“Of late, there has been a significant increase in the emergence of targeted and combination therapies. Targeted therapies exploit the surface markers or properties of diseased or infected cells and cause fewer adverse effects than conventional non-targeted therapies. Targeting multiple pathways reduce the risk of developing treatment-resistant disorders. Combination therapies are highly efficacious in treating solid tumors as they target distinct mechanisms,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The biological segment accounts for around 59% of the overall market share and dominates the global solid tumors drugs market in 2015. This segment comprises of medicinal products extracted from biological sources such as human, animal, or microorganism and manufactured biotechnologically using state-of-the-art technologies. These drugs have a complex structure and are not easy to identify or characterize, unlike synthesized drugs. Biologics include products such as enzymes, blood and blood components, gene therapy, recombinant proteins, somatic cells, tissues, and vaccines.
The key vendors in the market include Roche, Novartis, Celgene, Johnson & Johnson, Pfizer, and BMS. The competition in the global solid tumors drugs market is intense due to the presence of numerous small and large vendors that operate on a local and global scale. New players are also looking to explore the market because of the high growth opportunities. The companies that manufacture and market safe and effective solid tumors drugs are expected to gain a competitive edge over its peers.
A more detailed analysis is available in the Technavio report, Global Solid Tumors Drugs Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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