The Business Research Company's Generic Oncology Drugs Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
The generic oncology drugs market is set for robust expansion in the coming years, projected to reach $37.08 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 6.6%. The predicted growth during the forecast period can be linked to the approval of biosimilars, heightened competition, the rise of telemedicine and remote care, personalized treatment models, and pricing pressures. Noteworthy trends during the forecast period are expected to include enhanced pharmacovigilance, regulatory simplification, a shift towards combination therapy, precision in generic oncology medications, and broader market accessibility.
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What Is The Crucial Factor Driving The Global Generic Oncology Drugs Market?
The surge in individuals affected by cancer is anticipated to boost the expansion of the generic oncology drugs market. Cancer, a disease marked by unregulated cell proliferation affecting different organs, is responsible for considerable morbidity and mortality around the world. Generic oncology drugs, being cost-effective, play a paramount role in the treatment of cancer by enhancing the availability of vital therapies, fostering market competition, and mitigating healthcare expenses. For example, the National Cancer Institute (NCI), a governmental agency in the United States, reported in January 2022 that approximately 5.4% of the population, equating to 18.1 million people, were cancer survivors. Additionally, it recorded 623,405 individuals living with metastatic breast, prostate, lung, colorectal, bladder cancer, or metastatic melanoma in 2022, a figure predicted to increase to 693,452 by 2025. Consequently, the substantial surge in cancer patients is instigating the growth of the generic oncology drugs market.
Who Are The Emerging Players In The Generic Oncology Drugs Market?
Major players in the Generic Oncology Drugs include:
• Pfizer Inc.
• AbbVie
• Novartis AG
• Bristol-Myers Squibb Company
• AstraZeneca Plc
• Abbott Laboratories
• Fresenius Kabi AG
• GlaxoSmithKline PLC
• Eli Lilly and Company
• Merck & Co. Inc.
What Are The Key Trends Shaping The Generic Oncology Drugs Industry?
A significant trend making waves in the generic oncology drugs market is the creation of innovative formulations. Major corporations in this sector are prioritizing the development of advanced drug delivery systems, modified-release formulations, and varying dosage forms to enhance patient adherence and solidify their market standing. An example of this trend occurred in January 2023, when generic drug specialist MSN Laboratories Private Limited, based in India, unveiled Palborest, the global premier generic Palbociclib tablet for treating advanced breast cancer. This cost-efficient tablet grants similar performance as the original, while ensuring bioequivalence. An added benefit of the tablet form is flexibility, as it can be consumed with or without meals and may be co-administered with proton pump inhibitors or antacids. Plus, the tablet formulation is devoid of lactose and gelatin, which further enhances the drug's effectiveness.
What Segments Are Covered In The Generic Oncology Drugs Market Report?
The generic oncology drugs market covered in this report is segmented –
1) By Molecule Type: Large Molecule, Small Molecule
2) By Route Of Administration: Oral, Parenteral
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacies, Managed Care Institutions
Subsegments:
1) By Large Molecule: Monoclonal Antibodies, Biologics, Biosimilars
2) By Small Molecule: Chemotherapeutics, Targeted Therapy Agents, Hormonal Therapy Drugs
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Which Region Is Projected To Hold The Largest Market Share In The Global Generic Oncology Drugs Market?
In 2024, the generic oncology drugs market was dominated by North America, leading as the largest region. The growth outlook for this market is projected in the report covering regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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