DUBLIN–(BUSINESS WIRE)–The “China Oncology Drugs Market, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
Chinese Oncology Drugs Market anticipated to reach US$ 35.24 billion by 2027
Cancer is among China’s high-priority disease areas, with patients experiencing a significant health burden. Hence, the cancer drugs industry is the fastest-growing central therapeutic area in China’s pharmaceutical market. In particular, the increasingly challenging treatment of complex, severe cancerous diseases through drugs has generated unmet medical needs, leading to the promising market potential of the China Cancer Drugs Market.
Further, the acceleration of innovation within the oncology drugs industry in China is critical to progress in managing China’s oncology burden. Exceptionally outpacing the growth rate of new cancer cases in China, the oncology drug market in China demonstrates robust growth.
China Oncology Drugs Market size was US$ 23.70 billion in 2021
Chinese Drugs Industry has been shaping initiatives grounded in the local environment, assuring that patients receive enhanced treatment options that are accessible and equitable to all. Moreover, recent trends fuelling China’s progress in cancer drugs are innovation. A wave of new biotech’s focused on oncology and improved quality in oncology research is boosting China’s Cancer Drugs Market.
In addition, other key growth drivers for the industry in China include the aging trend of the Chinese population, rising healthcare expenditure, and improving the public medical insurance system. Therefore, driven by multiple factors, the number of new cases of cancer in China treated by drugs has constantly been increasing. According to this report China Cancer Drug Industry is expanding at a CAGR of 6.8% during 2021-2027.
Targeted Therapy is the Most Dominating Segment
In our report, China Cancer Drug Market covers the cancer therapy market and the cancer drugs market. In terms of therapy, cancer treatment has gone through a long development process in history. Effective therapies include chemotherapy, targeted therapy, immunotherapy (biologic therapy), and hormonal therapy.
In addition, cancer supportive care, which refers to the medical care that focuses on relieving the symptoms caused by cancer treatments to improve the quality of life, has also evolved with the development of various cancer treatment therapies. As per our analysis, By Therapy, Targeted Therapy is the most dominating segment in China Oncology Drug Market.
Lung Cancer Segment Occupies the Largest Market Share
By Indication, our report covers Blood Cancer, Breast Cancer, Gastrointestinal Cancer, Prostate Cancer, Lung Cancer, Skin Cancer, Ovarian Cancer, Cervical Cancer, and Kidney Cancer existing in the market. In addition, China looks set to become a primary developer of cancer drugs for the diverse indications infusing regulatory changes to simplify and encourage drug development, which also opens the door for more significant investment by international pharmaceutical brands.
According to Indication, the lung oncology segment occupies the largest oncology drugs market share due to the vast geriatric population in China. Besides, the breast cancer segment is expected to experience the fastest growth due to technological developments in cancer diagnostics and a rise in awareness related to the early diagnosis of cancer.
Key Players
The major players operating in the China Oncology Drugs Market include Bristol Myers Squibb, Merck, Eli Lilly, Sino BioPharma, F Hoffmann-La Roche AG, Johnson & Johnson, AbbVie Inc., AstraZeneca plc. Companies have explored different development pathways to accelerate regulatory approval for faster patient access. Additionally, key players are increasingly entering into R&D partnerships with local Chinese companies to accelerate approval and bring treatment to patients. In addition, companies are also offering schemes to improve affordability to help patients get appropriate treatment.
The COVID-19 Pandemic Disrupted the China Oncology Drugs Market
The COVID-19 pandemic has had widespread adverse collateral effects on China Cancer Drugs Market. Remarkably, China’s Oncology Drugs Industry was reliant on rapid testing and diagnosis and on timely and coordinated multimodal treatment, all of which had been impacted by the pandemic adversely. However, over time, the initial and enduring effects of the COVID-19 pandemic on the utilization of cancer drugs deteriorated.
Therapy – Market has been covered from 4 viewpoints:
Indication – Market has been covered from 10 viewpoints:
Drugs – Market has been covered from 6 viewpoints:
Company Insights
Company Analysis
For more information about this report visit https://www.researchandmarkets.com/r/etl42x
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