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.
January 2021- Novartis expanded Oncology pipeline with the in-licensing of tislelizumab from BeiGene, Ltd., in major markets outside of China.
June 2020- Pfizer received approval from the United States Food and Drug Administration (FDA) for BAVENCIO, as a first-line maintenance treatment among patients suffering from advanced/metastatic urothelial carcinoma.
Ans: The major factors driving market growth are increasing number of cases of bladder cancer, and growing popularity of targeted therapies globally.
Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022-2031.
Ans: The major players in the market are Pfizer, Inc., GlaxoSmithKline plc, Novartis AG, Dendreon Pharmaceuticals LLC, Sanofi SA, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by cancer type, treatment, end user, and by region.
Ans: The chemotherapy segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
Ans: High cost of urothelial carcinoma therapy instruments is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing occurrence of urothelial cancer, and growing number of smokers in the region.