In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Anti-neoplastic are the drugs that prevent growth of any abnormal tissue leading to cancer. The drugs pass into the human body and destroy cancerous cells. These drugs are also used in conjunction with surgery, radiotherapy and immunotherapy for solid tumors. The anti-neoplastic pharmaceutical agents are also known as cytotoxic agents .The changing lifestyle across the globe is increasing the chances of cancer which leads to high demand for the anti-neoplastic pharmaceutical agents from pharmaceutical companies. Additionally, companies are continuously developing new products in order to develop efficient drugs against numerous cancer conditions.
The global anti-neoplastic pharmaceutical agents market is anticipated to expand with CAGR of around 9.0% during 2017-2027. It is projected to reach significant market size by 2027. The growing incidence of cancer coupled with the rising cost effective measures to treat the disease is anticipated to increase the market size of anti-neoplastic pharmaceutical agents during the forecast period.
The global anti-neoplastic pharmaceutical agents market is segmented on the basis of type of cancer, type of agents and region. Moreover, on the basis of cancer type it is segmented into lung cancer, bladder cancer, breast cancer, cervical cancer, leukemia, gynecological cancer and other cancer types. The most prevalent type of cancer among the individuals is the lung cancer. It contributed around 15% of total cases of the cancer. Chemotherapy is used in order to tackle lung cancer. On the basis of type of anti-neoplastic pharmaceutical agents it is segmented into hormones and antagonists, microorganism products, plant products, antitumor antibiotics, alkylating agents, antimetabolites and natural products.
By region, global anti-neoplastic pharmaceutical agents market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global anti-neoplastic pharmaceutical agents market on the account high prevalence of cancer cases coupled with rising demand for the cancer remedial drugs. However, Asia-Pacific is anticipated to be fastest growing region on the account of increasing awareness about the side-effects of the cancer coupled with rising diagnosis device regarding the cancer.
Our in-depth analysis segmented the global anti-neoplastic pharmaceutical agents market in the following segments:
Global anti-neoplastic pharmaceutical agents market is further classified on the basis of region as follows:
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The various growth drivers associated with the anti-neoplastic pharmaceutical agents market are increasing number of cancer patients across the globe. Additionally, growing demand for the cost effective treatment is anticipated to play significant role in the expansion of anti-neoplastic pharmaceutical agents market. The increasing investment by the key manufacturers in order to develop wide range of anti-neoplastic pharmaceutical agents is anticipated to drive the market growth of the anti-neoplastic pharmaceutical agents. The changing lifestyle among the growing population is also increasing the incidences of chronic diseases such as cancer. Moreover, government is also taking initiative such as favorable reimbursement policies to prevent the growth of cancer in the various the regions across the world.
However, lack of awareness about cancer in the various regions coupled with technological complexities with the existing diagnostic examination is anticipated to hinder the market growth of global anti-neoplastic pharmaceutical agents.