According to the latest report by IMARC Group, titled "Oncology Injectables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global oncology injectables market exhibited strong growth during 2014-2019. Oncology injectables are intravenous drugs that are widely used for the treatment of different forms of cancer. These drugs are administered directly in the bloodstream of the patient to improve its biological effect. Extensively available in liquid form, these injectables aid in mitigating the growth of cancer-inducing proteins while destroying the malignant cells formed in the body. These drugs are usually preferred by healthcare professionals for cancer treatments as they provide improved efficiency, increased bioavailability, better compliance and reduced gastrointestinal irritation.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Oncology Injectables Market Trends:
The market is primarily driven by the increasing prevalence of various forms of cancer across the globe. This, along with the growing awareness regarding early cancer detection among the masses, is providing a thrust to the market growth. This is further supported by the easy accessibility to chemotherapy treatments and improving healthcare infrastructure on the global level. There has been a significant increase in the investments by drug manufacturers and biotechnology companies for developing new anti-cancer intravenous drugs, which is acting as another major growth-inducing factor. These injectables are expected to be highly efficient and target-oriented with minimal side effects. This, coupled with the faster drug approvals from several regulatory bodies, including the US Food and Drug Administration (FDA), is anticipated to create a positive outlook for the market. Moreover, the growing preference for multiple generic oncology injectables by patients on account of the cost-efficient nature of these drugs is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the increasing penetration of healthcare insurance and the rising trend of medical tourism on the global level. On account of the aforementioned factors, the market is anticipated to witness strong growth during 2020-2025.
- On the basis of the molecule type, the market has been bifurcated into small and large molecule.
- Based on the product type, the market has been divided into chemotherapy, monoclonal antibodies, cytokines and peptide hormones.
- On the basis of the indication, the market has been classified into lung, breast, colorectal, prostate, stomach, liver, esophagus, cervical and other types of cancers.
- The market has been categorized into branded and generics.
- On the basis of the distribution channel, the market has been segmented into retail, hospital and online pharmacies.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa (Turkey, Saudi Arabia and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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