Global anti-cancer drug market is expected to grow on account of increasing multiple cancer incidences especially in developed economies. Anti-cancer drug market revenues are expected to increase by 50% in the next five years owing to favorable regulatory scenario mainly in the U.S.As per American Cancer Society, number of deaths worldwide in 2012 was 8.2 billion and the number is expected to increase over the forecast period.
Globally, lung cancer is the most common type observed among men. However, in developed regions mainly North America and Europe, prostate is most common among the masculine gender. Breast is the most common type noticed among women in both developed as well as developing economies
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The oncology market depends heavily on research and development. Pharmaceutical organizations are concentrating on producing new medicines in order to meet consumer needs. Drug approval from regional regulatory bodies is an important growth factor and therefore support from the regional government bodies and non-profit organization are expected to drive global market demand over the forecast period.
Media is also playing an essential role in spreading awareness about the disease and related drugs. Rise in consumer awareness on availability of new medicines through media are expected to boost the global oncology drug market. The oncology medicine development depends on huge investment for research and development.
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High treatment cost and strict government regulations are expected to restrain global anti-cancer drug market in the future. Pharmaceutical organization face challenges of recovering the huge cost involved in new product development. These drugs possess a threat of side effects which are expected to hamper overall product demand in the coming years.
Global market is segmented on the basis of treatment type. These treatment segments include chemotherapy, immunotherapy, surgery, radiation therapy, stem cell transplant and hormone therapy. These treatment segments depend upon the cancer type.
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