The oncology drug pipeline analysis market comprises drugs that are under clinical trials for various types of cancer. These drugs are being developed to target specific cancer cells and improve survival rates. Currently, over 5,000 drugs are under different phases of clinical trials globally. Majority of these drugs are novel small molecule inhibitors and monoclonal antibodies that offer targeted treatment with reduced side effects compared to conventional chemotherapy. The surge in private and public funding for R&D along with partnerships between drug makers and research institutes is driving a robust cancer drug pipeline. Moreover, growing cancer incidence worldwide is fueling the demand for safer and more effective anti-cancer treatments.
The global Oncology Drug Pipeline Analysis Market is estimated to be valued at US$ 188.20 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The key trend observed in the oncology drug pipeline analysis market is a surge in pipeline drugs targeting immune checkpoint inhibitors and cell therapies. Immuno-oncology drugs help boost the immune system to fight cancer and have demonstrated good efficacy against various types of cancer including lung cancer, melanoma, head & neck cancer and others. Notable pipeline drugs in this category include spartalizumab, relatlimab, and ticagrelor. Cell therapy is another promising area where pipeline drugs using chimeric antigen receptor (CAR) T-cells have shown positive results in clinical trials for blood cancers. Several drug makers are developing next-gen CAR T-cell therapies with enhanced efficacy and longer durability. Apart from immune-oncology and cell therapies, targeted drugs for tumor agnostic indications and combination therapies also constitute a significant portion of the robust oncology drug pipeline. Overall, the plethora of novel treatment options in the pipeline is anticipated to transform cancer care over the coming decade.
Threat of new entrants: The oncology drug pipeline market requires high R&D investment and strict regulations which make it difficult for new players to enter.
Bargaining power of buyers: Due to the increasing prevalence of cancer, buyers have some bargaining power in terms of price negotiation.
Bargaining power of suppliers: Major pharmaceutical companies globally have strong bargaining power over suppliers due to their large size and economies of scale.
Threat of new substitutes: Technological advancements in cancer treatment like targeted therapy and immunotherapies pose threat of new substitutes.
Competitive rivalry: The oncology drug pipeline market is highly competitive due to presence of many global players investing heavily in R&D.
The Global Oncology Drug Pipeline Market Demand is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing research activities in cancer drug development. North America is expected to dominate the global market owing to increasing demand for cancer drugs due to growing cancer cases and availability of advanced healthcare facilities in the region.
The oncology drug pipeline market in Asia Pacific is anticipated to grow at a lucrative CAGR during the forecast period. This is attributed to rising healthcare expenditure, growing cancer prevalence, increasing demand for high-quality cancer care, and growing geriatric population in the region.
Key players operating in the oncology drug pipeline market are F. HOFFMANN-LA ROCHE AG, PFIZER, INC., ASTELLAS PHARMA INC., NOVARTIS INTERNATIONAL AG, ASTRAZENECA PLC, BRISTOL-MYERS SQUIBB COMPANY, ABBVIE INC., AMGEN, INC., MERCK & CO., INC., JOHNSON & JOHNSON. These key players are involved in new product launches, mergers, collaborations and acquisitions to gain competitive advantage in the market.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it