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Generic Oncology Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Generic Oncology Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • April 2021
  • 132 pages
  • ID: 6058976
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global generic oncology drugs market exhibited strong growth during 2015-2020.

Generic oncology drugs assist in shrinking, controlling and destroying the cancer cells present in the human body. Furthermore, a few oncology drugs are widely prescribed by doctors to alleviate symptoms, including pain. They share the same active ingredients as the already marketed brand-name cancer care medicine. These drugs can be characterized by a different color or flavor than that of the original drug but their quality, performance, intended use, strength, dosage form and route of administration remain the same. Consequently, these drugs efficiently deliver equivalent clinical benefits and yield the same therapeutic effect as their brand-name counterparts at a lower cost.

The escalating prevalence of cancer is one of the key factors driving the market growth. Owing to various factors including a rapid increase in the number of smokers, sedentary lifestyle and excessive exposure to ultraviolet (UV) rays, the number of cancer cases has experienced a significant rise across the globe. In addition to this, the high costs associated with a full-length cancer treatment have led a majority of the patients to opt for these drugs as they are much more cost-effective as compared to their brand-name counterparts. Moreover, patent expiration of key blockbuster drugs is also a significant factor that is providing a boost to the market growth. Along with this, governments of several countries are undertaking initiatives to promote generic drugs. They are continually engaging in research and development (R&D) activities to reduce healthcare expenses related to cancer treatment, thus making the healthcare facility accessible and affordable for all. Such initiatives are augmenting the introduction of several new generic drugs. Other factors such as rising awareness about the benefits of early cancer diagnosis and growing inclination toward preventive measures are contributing to the market growth. Looking forward, the analyst expects the global generic oncology drugs market to reach a value of US$ 46.8 Billion by 2026.

Regional Insights:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Amongst these, North America holds the leading position in the market, owing to an increasing number of cancer patients and rising awareness about early cancer diagnosis.

Competitive Landscape:
The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players operating in the market.

Key Questions Answered in This Report:
1. What is the market size for the global generic oncology drugs market?
2. What is the global generic oncology drugs market growth?
3. What are the global generic oncology drugs market drivers?
4. What are the key industry trends in the global generic oncology drugs market?
5. What is the impact of COVID-19 on the global generic oncology drugs market?
6. What are the major regions in the global generic oncology drugs market?
7. Who are the key companies/players in the global generic oncology drugs market?

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