Increasing Investment by Pharmaceutical Companies and Favorable Government Policies has Propelled the Growth of the Cancer Treatment Drugs Market in the North America Region!

The increased adoption of cancer therapy and rise in the incidence of cancer in U.S. is one of the major factor propelling the growth of the cancer treatment drugs market in the region. According to the American Cancer Society, “Cancer and Figures 2022”, there was an estimated 1.9 million new cancer cases diagnosed in 2022. Moreover, as per the same source in 2020, the most common cancers were breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) in the U.S. Thus, the increasing cases of cancer require early treatment which is expected to increase the demand for cancer therapies over the forecast period. Apart from this, the presence of major key players and rising investments by pharmaceutical companies are also propelling the regional market growth.

Further, the North America Cancer Treatment Drugs Market is expected to grow at a strong CAGR of 8.5% during the forecast period (2022-2028). North America held a dominant share in the market in 2021 owing to rapid product launches, rising awareness among individuals, favorable government policies, and regulatory designations by government authorities. For instance, in March 2020, Johnson and Johnson received the US FDA Breakthrough Therapy Designation for JNJ-61186372 (JNJ-6372) for the treatment of patients with metastatic non-small cell lung cancer (NSCLC). Furthermore, in September 2022, U.S. FDA granted approval to Retevmo (selpercatinib, 40 mg & 80 mg capsules) for adult patients with locally advanced or metastatic solid tumors with a rearranged during transfection (RET) gene fusion that has progressed on or following prior systemic treatment or who have no satisfactory alternative treatment options. Thus, given the aforementioned factors, the cancer therapy market is expected to grow significantly over the forecast period in North America.
North America Cancer Treatment Drugs Market Revenue (2020-2028)- USD Mn

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Based on therapy, the market is categorized into chemotherapy, immunotherapy, and targeted therapy. The immunotherapy category is expected to grow with a high CAGR during the forecast period due to a surge in the number of immunotherapeutic drugs for a wide range of cancers. For instance, during 2020-2022, the U.S. FDA has approved various anti-PD-1/L1 antibodies such as nivolumab, atezolizumab, avelumab, dostarlimab, and others for the treatment of lung cancer, renal cell carcinoma, melanoma, breast, prostate malignancies, and others. Moreover, rising strategic alliances by pharmaceutical giants will also boost market growth. For instance, in August 2022, BioNTech SE and Genmab A/S expanded their strategic collaboration for the development and launch of new immune therapies for the treatment of various cancer forms.For a detailed analysis of the Global Cancer Treatment Drugs Market browse through– https://univdatos.com/report/cancer-treatment-drugs-market/

By indication, the market is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, and others. The lung cancer category held the dominant share of the market in 2021 due to the surge in the prevalence of lung cancer. According to the American Society of Clinical Oncology (2020), lung cancer is the second most frequent disease in both men and women, affecting about 235,000 persons in the U.S. in 2020. Moreover, the surge in the number of targeted drug approvals and their higher adoption in the U.S. is also driving the market growth. For instance, in May 2021, U.S. granted approval to Lumakras (sotorasib) as the first treatment for adult patients with non-small cell lung cancer whose tumors have a specific type of genetic mutation called KRAS G12C and who have received at least one prior systemic therapy. This is the first approved targeted therapy for tumors with any KRAS mutation, which accounts for approximately 25% of mutations in non-small cell lung cancers.

Global Cancer Treatment Drugs Market Segmentation

Market Insight, by Drug Class

• Cytotoxic Drugs
  • Alkylating Agents
  • Antimetabolites
  • Others
• Targeted Drugs
  • Monoclonal Antibodies
  • Others
• Hormonal Drugs
• Others

Market Insights, by Therapy

• Chemotherapy
• Targeted Therapy
• Immunotherapy

Market Insights, by Application

• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Others

Market Insights, by Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
• Rest of the World

Top Company Profiles

• AbbVie Inc.
• F. Hoffmann-La Roche Ltd
• Amgen Inc.
• Pfizer Inc.
• Bristol-Myers Squibb Company
• Bayer AG
• AstraZeneca
• Sanofi
• Merck & Co., Inc.,
• Johnson & Johnson Private Limited