Metastatic Cancer Drug Market Size, Share, Growth Trends | 2023-2030

Metastatic Cancer Drug Market Scope, Size, Share, Forecast Report 2030

The global metastatic cancer drug industry is undergoing substantial expansion, driven by the increasing prevalence of cancerous diseases and the growing popularity of advanced therapies, including biological and targeted pharmacological treatments. This growth is fueled by various environmental factors such as cigarette use, changing dietary patterns, urbanization, and an extended post-reproductive lifespan. Additionally, heightened cancer awareness efforts and early screening initiatives are contributing to the rising demand for metastatic cancer drugs. The World Health Organization (WHO) estimates that the number of new cancer cases will reach 29.4 million by 2040, underscoring the significant demand expected in the forecast period.

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Rising Geriatric Population Amplifies Vulnerability to Metastatic Cancer

A significant driving force behind this growth is the expanding geriatric population, which is particularly susceptible to metastatic cancer due to weakened immune systems. Recent studies have revealed that in 2019, the United States recorded approximately 140,690 cancer diagnoses and 103,250 cancer-related deaths among the elderly population. Remarkably, individuals aged 65 and above accounted for 60 percent of all cancer cases and an astonishing 70 percent of cancer-related deaths.

Targeted Therapy Segment Gains Prominence

Leading in revenue generation is the targeted therapy segment, projected to capture the largest share in the coming years. This prominence can be attributed to the inherent advantages of targeted therapy, including fewer side effects and the ability to interfere with specific proteins involved in carcinogenesis. Targeted therapy's personalized approach, focusing on unique molecular changes within specific malignancies, has contributed to its growing appeal.

North America's Dominance Sustained by Robust Factors

In North America, a prominent revenue generator, dominance is expected to persist due to several factors. These include a substantial patient population, a robust presence of industry players, streamlined drug availability, well-established healthcare infrastructure, favorable reimbursement policies, substantial research and innovation activities, and a higher adoption rate of advanced therapeutics. The surge in cancer cases within the region, driven by an increase in smoking and sedentary lifestyles, is a significant contributor to the demand for cancer drugs. Moreover, technological advancements enabling early cancer detection are driving demand for oncology medications at the preventive stage. The region's substantial

patient pool, highlighted by the 1.8 million cancer diagnoses in the United States in 2020, underscores its role as a key driver for the demand for cancer drugs.

Asia Pacific Region Poised for Rapid Growth

In the Asia Pacific region, the metastatic cancer drug market is anticipated to witness rapid growth due to rising cancer prevalence, government-led cancer awareness campaigns, and expanding patient aid programs. The interplay of factors, including population growth, aging demographics, environmental pollution, and unhealthy dietary habits, contribute to the escalating cancer burden and consequently drive demand for cancer therapies. The prevalence of risky habits such as smoking and tobacco consumption in the region amplifies the cancer incidence rate, further substantiating market growth. Commonly occurring cancer types in China include lung, stomach, colorectal, liver, and esophageal cancers. Studies estimate approximately 4,820,000 new cancer cases and about 2,370,000 cancer-related deaths in China for 2022. This substantial prevalence of cancer underscores the anticipated increase in cancer drug consumption.

Industry Developments and Key Players

Recent industry developments include AstraZeneca's approval for Imfinzi (durvalumab) in China for treating unresectable Stage III non-small cell lung cancer (NSCLC) patients. Additionally, Bayer AG's acquisition of Noria Therapeutics Inc. and PSMA Therapeutics Inc. in June 2021 is expected to significantly expand its cancer portfolio.

Key players actively contributing to the metastatic cancer drug market include Bayer AG, Johnson & Johnson, AstraZeneca PLC, F. Hoffmann-La Roche AG, Pfizer Inc., Bristol Myers Squibb Company, Amgen Inc., Merck & Co. Inc., AbbVie Inc., and Novartis AG.

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