Anti-neoplastic Agents Market

Anti-neoplastic Agents Market Size (2023 to 2028)

The global anti-neoplastic agents market is estimated to grow at a CAGR of 8.3% from 2023 to 2028. As a result, the market is forecasted to reach USD 200.6 billion by 2028 from USD 134.6 billion in 2023.

Anti-neoplastic agents are drugs that are used as the primary treatment for patients who have cancer. Anti-neoplastic is a variety of medicine to limit or kill tumor cells in the body. It plays a vital role in comprehensive cancer therapy, especially for disseminated tumors and leukemia that cannot be treated with surgery.

MARKET DRIVERS:

The growing cancer patient population, increasing funding from government bodies, technological advancements, and favorable reimbursement policies are majorly propelling the global anti-neoplastic agents market growth.

Anti-neoplastic agents are primarily utilized along with immunotherapy, surgery, hormone therapy, radiotherapy, and targeted therapy for several solid tumors, particularly metastatic ones. The danger associated with cancer increases with age, and it is now growing common across the globe due to individuals' quickly changing standard of living. Therefore, increasing demand and requirement for anti-neoplastic agents have attracted several major pharmaceutical market players to enter the global market and expand more competent drugs against numerous cancer conditions.

According to the Centers for Disease Control and Prevention (CDC), malignant neoplasms account for 15% of deaths worldwide, with 19.3 million new cases of cancer considered to be diagnosed by 2025. As a paradigm, according to the Healthcare Cost and Utilization Project (H-cup), there were 4.7 million hospitalizations associated with cancer in the U.S., and around 6% of the adult population of inpatient hospital cost was caused due to hospitalization of patients with cancer.

Additionally, advanced technologies used up in the anti-neoplastic agents market are one factor that propels the anti-neoplastic agents market growth. Also, private organizations' investments in manufacturing drugs related to cancer and other diseases are accelerating market growth. Growing requirements for anti-neoplastic pharmaceutical agents that have dragged pharmaceutical industries' attention to get into the market for developing and manufacturing more productive drugs for fighting cancer conditions drive the market growth.

MARKET RESTRAINTS:

The absence of favorable regulatory frameworks is expected to be hampering the growth of the global anti-neoplastic agents market. Moreover, some adverse effects associated with neoplastic agents are further expected to hinder the development of the anti-neoplastic agents market. For instance, strict rules to follow by the top companies in producing drugs are likely to obstruct market growth. Also, the need for FDA approvals for the drug release into the market is restraining the Anti-neoplastic Agents Market growth. Furthermore, a lack of knowledge about cancer in people is impeding market growth. The diverse nature of cancer and the cost related to its development are high, limiting its growth. Technical Complications related to the existing diagnostic tests are the factors that restrain the anti-neoplastic agents market growth.

Impact of COVID-19 on the global anti-neoplastic agents market:

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 200 countries worldwide, with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt and will significantly affect the Antineoplastic Interferon Drug market in 2020. COVID-19 can influence the global economy in three ways: directly hitting production and demand, causing supply chain and market disruption, and its financial impact on firms and financial markets. In addition, the outbreak of COVID-19 has affected many aspects, like restrictions on flight travel and all events, falling business confidence, growing panic among the population, and uncertainty about the future. As the different regions' governments have already announced a complete lockdown and temporary closedown of industries, there is a significant loss for the companies, hindering the market's growth rate.

REPORT COVERAGE:

This research report on the global anti-neoplastic agents market has been segmented and sub-segmented based on the products, end-users, and region.

Anti-neoplastic Agents Market – By Product:

• Chemotherapeutic Agents
• Biological Agents   
• Personalized Medicine  

Based on the product, the chemotherapeutic agent segment accounts for a significant market share during the forecast period. The chemotherapeutic agents segment is foreseen to lead the market due to the easy availability of drugs. The immunotherapeutic agents segment is expected to proliferate due to increasing biological therapy acceptance and lesser side effects.

Anti-neoplastic Agents Market – By End Users:

• Hospitals 
• Clinics        
• Cancer Rehabilitation Centers            
• Ambulatory Surgical Centers            

Based on end-users, the hospital segment dominated the anti-neoplastic agents market in 2022. The hospital end-user portion is expected to provide the highest share among end-users. As per the statistics given by The Healthcare Cost and Utilization Project, there were 4.7 Mn hospital admissions related to cancer in the U.S. in 2009. The hospital admission of cancer patients formed about 6% of adult inpatient hospital costs.

Anti-neoplastic Agents Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

The global market was dominated by North America, closely followed by Europe in 2022. Asia Pacific is expected to grow at a high CAGR. The domination of the North American region can be attributed to the standard increase of contagious diseases, and the appearance of highly developed healthcare is one factor that drives this region forward. North America has made a vital contribution to the leading market standing. It is estimated to help sustain the market share over the forecast period due to the advanced healthcare infrastructure and facilities, government investment, and the generally followed unhealthy lifestyle of the consumers leading to chronic diseases.

Europe accounted for the second-largest global market share in 2022. The U.K. and Germany contributed majorly to the European market in 2021 with the awareness of anti-neoplastic agents and a growing economy. Cancer Research UK shows that 605 people per 100,000 general population are diagnosed with cancer. Therefore, countries like the UK and Germany are considered to notice high acceptance of anti-cancer drugs compared with others in this region.

The Asia Pacific regional market is expected to be the fastest-growing region in the global market. Japan, India, and China are with the highest shares of the market. Factors such as rising dis, awareness of the advantages of early diagnosis, improving the possible income, and escalating expenditure on the healthcare sector are projected to drive the anti-neoplastic agents market. In this region, countries like Japan and Australia have favorable market development. On the other hand, China and India are considered the most attractive market due to the high incidences of the syndrome and the crucial market players' existence.

Latin America is predicted to accelerate at a steady CAGR during the forecast period.

The market in the Middle East and Africa is expected to see a slow and gradual market growth due to a lack of awareness about optimal healthcare and anti-neoplastic agents and a lack of skilled expertise in cancer cures and medical treatments.

KEY MARKET PARTICIPANTS:

Some of the top companies leading the Global Anti-neoplastic Agents Market profiled in this report are Aspen Global Inc., Bayer AG, Teva Pharmaceutical Industries Ltd., Johnson & Johnson Pvt. Ltd., Merck & Co., Inc., Pfizer Inc., Hoffmann-La Roche Ltd., Amgen Inc., Bristol-Myers Squibb Company, Baxter Healthcare Corporation, Boehringer Ingelheim GmbH, Accord Healthcare, Inc., Genentech, Inc., Lundbeck LLC, and AbbVie Inc.

Genentech, one of the leading companies, has been approved by the FDA to accept atezolizumab, which is the treatment used by the patient suffering from metastatic non-small lung cancer for those whose tumor is high with PD-L1 expression.