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Health World

New Study: Oncology Drugs Market in Canada is Predicted to Reach Faster by 2026

Canada Oncology Drugs Market
Canada Oncology Drugs Market

Oncology Drugs Market in Canada Outlook:

Oncology drugs help in the prevention, diagnosis, and treatment of cancer. It includes chemotherapy drugs, hormone therapy drugs such as Tamoxifen (brand name Nolvadex), immunotherapy drugs, and other drugs such as bosulif (bosutinib), bosutinib, brentuximab vedotin and brigatinib that are used in the treatment of cancer. According to the CDC, 21.1 million adults were diagnosed with cancer in 2015. This shows the immediate need of the rise in the number of oncologic drugs in the market. Around 206,200 new cases of cancer (equal number of men and women) are expected to be diagnosed in Canada in 2017. Half of these (103,200 cases) will include lung, breast, colorectal, and prostate cancers.

Increase in prevalence of cancer, rise in the population, and growth in awareness about the availability of cancer treatments predominantly drive the market growth. However, the high cost involved in new drug development coupled with threat of failure and adverse effects associated with anti-cancer drug therapies are projected to restrain the growth of the Canada oncology drug market. Nevertheless, advancement of cancer drug research owing to biological/targeted therapies and personalized medicines hold promising opportunities for pharmaceutical, bio-pharmaceutical, and biotechnology companies engaged in developing cancer drugs.

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The Canada oncology drugs market is segmented on the basis of therapy modality and types of cancer. Based on therapy modality, the market is divided into chemotherapy, targeted therapy, immunotherapy (biologic therapy), hormonal therapy, and others. In terms of types of cancer, the market is classified into blood cancer, breast cancer, gastrointestinal cancer, respiratory/lung cancer, skin cancer, and others.

The companies operating in the market are AstraZeneca Plc. GlaxoSmithKline, Eli lilly & Co., Roche diagnostics, Novartis AG, Pfizer Inc., Merck & Co., Gilead, Sanofi S.A, and Celgene Corporation.

Key Benefits

  • The study provides an in-depth analysis of the Canada oncology drugs market along with current trends and future estimations to elucidate the imminent investment pockets.
  • It presents a quantitative analysis from 2016 to 2023 to enable the stakeholders to capitalize on prevailing market opportunities.
  • Extensive analysis of the market by product type elucidates the various forms of available oncology drugs.
  • Key players are profiled and their strategies are analyzed thoroughly to predict the competitive outlook of the market.
  • The projections in this report are made by analyzing the current trends and future market potential from 2016 to 2023 in terms of value.

Canada Oncology Drugs Market Key Segments:

By Therapy Modality

  • Chemotherapy
  • Targeted Therapy
  • Immunotherapy (Biologic Therapy)
  • Hormonal Therapy
  • Others

By Cancer Type

  • Blood Cancer
  • Breast Cancer
  • Gastrointestinal Cancer
  • Respiratory/Lung Cancer
  • Skin Cancer
  • Others

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