The North America Oncology Drugs Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030).
Cancer appears as the third most lethal disease globally, following infectious, parasitic, and cardiovascular diseases. Chemoprevention is a pharmacological approach that employs naturally occurring or synthetic compounds to prevent or impede cancer development. The treatment of cancer consists of medicines, radiation, and surgery. Surgical intervention is the initial course of action when early-stage cancer is diagnosed. The final one, chemotherapy (CTX), involves administering various pharmaceuticals with cytotoxic properties. Targeted therapy is a cancer treatment that precisely targets the modifications that facilitate cancer cells' growth, division, and metastasis.
As a form of cancer treatment, immunotherapy stimulates the immune system to combat the disease. Hormone therapy inhibits or eradicates the proliferation of prostate and breast malignancies, which are metastasized by hormones. Anticancer medications exhibit reduced selectivity towards cancer cells while impeding cell division and proliferation. Consequently, these medications eradicate not only malignant cells but also healthy cells. Chemotherapy or anticancer drugs are chemical substances that inhibit the development of cancer cells by denaturing them. Although anticancer medicines inhibit the division of cancer cells, the process also impacts healthy cells.
North America is a hub for pharmaceutical and biotechnology companies conducting cutting-edge research in oncology. The region's emphasis on R&D innovation has led to the developing novel cancer drugs, including targeted therapies, immunotherapies, and precision medicine approaches. Lung and bronchus cancer have consistently been among the most commonly analyzed cancers and leading causes of cancer-related deaths in the United States. The rising incidence and mortality rates highlight the urgent need for effective oncology drugs to treat and manage this disease. The above aspects will expand the market growth across the region in the upcoming years.
The US region dominated the North America Oncology Drugs Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $71,596.5 million by 2030. The Canada region is experiencing a CAGR of 9.2% during (2023 - 2030). Additionally, The Mexico region would exhibit a CAGR of 8.2% during (2023 - 2030).
Based on Indication, the market is segmented into Breast Cancer, Prostate Cancer, Lung Cancer, Stomach Cancer, Colorectal Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer and Other Cancer. Based on Drug Class Type, the market is segmented into Targeted Therapy, Immunotherapy (Biologic Therapy), Chemotherapy and Hormonal Therapy. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Oncology Drugs Market is Predict to reach $273.3 Billion by 2030, at a CAGR of 7.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AbbVie, Inc., Amgen, Inc., Astellas Pharma, Inc., AstraZeneca PLC, Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis AG, Merck & Co., Inc. and Pfizer Inc.
By Indication
By Drug Class Type
By Country
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