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The North America generic oncology drug market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Generic oncology drug helps in controlling, shrinking and destroying cancer cells that are present in the human body. The drug contains the same active ingredient as of a branded drug for cancer care. A generic oncology drug also accounts for the same quality, performance, intended use, strength, dosage form and route of administration as of branded cancer drug but differs in color or flavor. Other than this, the generic drug yields identical therapeutic effects and efficiently deliver equivalent clinical benefits at lower costs, in comparison with its branded counterpart.
The North America generic oncology drug market is currently being driven by several factors. A rapid increase in the number of smokers, coupled with a rise in sedentary lifestyles, has catalyzed the incidences of cancer cases in the region. On account of this, there has been acceleration in the demand for cost-effective and viable cancer treatments, including generic oncology drugs. Apart from this, rising healthcare investments have resulted in the introduction of several improved and effective generic oncology drugs, thereby positively influencing the market growth in the region. Furthermore, rising technological advancements in the healthcare sector have contributed to early cancer diagnosis, thus propelling the demand for generic oncology drugs at the prevention stage.
IMARC Group’s latest report provides a deep insight into the North America generic oncology drug market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America generic oncology drug market in any manner.
|Base Year of the Analysis||2020|
|Segment Coverage||Cancer Type, Drug Type, Distribution Channel, Country|
|Countries Covered||United States, Canada|
|Customization Scope||10% Free Customization|
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