News | September 29, 2009

Cancer Drug Market to Grow Nearly 15 Percent from 2008-2012

September 29, 2009 - Worldwide sales of cancer drugs are forecast to increase at a compound annual growth rate of 12-15 percent from 2008, reaching US$75-80 billion by 2012. That would represent almost double the projected growth rate for the pharmaceutical market as a whole over the same period, says 2009 Research and Markets in its "Launching Next Generation Oncology Products: Evolving Strategies in a Payor's Market" report.

The emergence of a new wave of oncology products has been one of the most dramatic trends in the pharmaceutical market over the last decade. Both large and small companies are making unprecedented investments in oncology R&D, in an effort to emulate the success of new targeted therapies such as Herceptin, Avastin, Glivec, Nexavar and Erbitux.

Underpinning that success have been real improvements in therapeutic options for a range of cancers, including marked survival increments in areas of poor prognosis, such as kidney cancer (e.g., Sutent); more effective therapies, tailored to genetically defined subgroups, for widespread malignancies (Herceptin for breast cancer); and innovations that have transformed fatal into chronic diseases (Glivec for chronic myeloid leukaemia).

At the same time, success has come at a price. Not is the oncology marketplace getting more crowded, raising the bar for differentiation in a category in which many products are focusing on the same disease mechanisms, but the premium prices charged for newer therapies are stretching healthcare budgets. Increasingly cancer drugs are losing the special status that once guaranteed uptake at any cost and are coming under the same cost-effectiveness scrutiny as other components of healthcare.

In today's payer's market, oncology companies are being forced to re-assess their strategies and build a compelling value equation for their products that will meet the needs of a whole range of stakeholders, each with their own agenda. And they must do this while finding a way to recoup R&D costs from niche products without the patient volumes that have driven blockbuster brands in the past.

Another key finding by the research group is that growth in oncology is expected to slow over the next five years, with a diminishing contribution from the existing top oncology markets - the US, France, Germany, Italy, the UK and Spain. These countries accounted for 71 percent of oncology product sales worldwide in 2007. By 2012, however, their share of overall sales could be down to 65 percent.
Also, increased cost-sensitivity among payers, market crowding and the loss of cancer's 'special status' will make the market much for challenging for established oncology players and new contenders over the next few years.

For more information: www.researchandmarkets.com/research/2a2448/launching_next_gen

Related Content

Videos | Radiation Therapy | November 15, 2017
Chris Toth, president, global commercial and field operations for Varian, takes a tour of Varian’s new product introd
Sam Hancock, Ph.D.

Sam Hancock, Ph.D.

Sponsored Content | Case Study | Radiation Oncology | November 06, 2017
In establishing the new Southeast Cancer Center (Cape Girardeau, Mo.), clinic officials not only had the opportunity to...
Proton therapy doesn’t get as near to the heart and other internal organs as X-ray therapy does. (Image courtesy of Provision Cares Proton Therapy Center.)

Proton therapy doesn’t get as near to the heart and other internal organs as X-ray therapy does. (Image courtesy of Provision Cares Proton Therapy Center.)

Feature | Proton Therapy | November 06, 2017 | By Larisa Brass, MPH
Thirty-three. Twenty-nine. Sixty-four. These are the ages of the breast cancer patients who have walked through the...
Videos | Women's Health | October 23, 2017
William Hall, M.D., radiation oncologist in the Department of Radiation Oncology at PeaceHealth St. Joseph Medical...
Pancreatic Cancer Outcome Highlights via On-table Adaptive MR-guided Radiation Therapy, MRI guided RT.
Sponsored Content | Webinar | Radiation Therapy | October 13, 2017
The webinar "Pancreatic Cancer Outcome Highlights via On-table Adaptive MR-guided Radiation" was presented by Parag P
Trends in contrast media used in magnetic resonance imaging and computed tomography

Image courtesy of Bayer

Feature | Contrast Media | October 04, 2017 | By Dave Fornell
Over the past decade, several clinical studies have shown gadolinium-based magnetic resonance imaging (MRI) contrast...
The forthcoming RayCare OIS from RaySearch will be web-based to more easily connect all members of the patient care team throughout a comprehensive cancer center

The forthcoming RayCare OIS from RaySearch will be web-based to more easily connect all members of the patient care team throughout a comprehensive cancer center.

Feature | Oncology Information Management Systems (OIMS) | September 08, 2017 | By Jeff Zagoudis
Cancer is perhaps the most highly personal, complex disease in our world today.
more healthcare providers and patients are choosing options such as Gamma Knife stereotactic radiosurgery
News | Radiation Therapy | July 31, 2017
Each year, up to 650,000 people who were previously diagnosed with various forms of cancer will develop brain...
Elekta’s MR-linac integrates an advanced linear accelerator and a 1.5T magnetic resonance imaging (MRI) system

Elekta’s MR-linac integrates an advanced linear accelerator and a 1.5T magnetic resonance imaging (MRI) system. Combined, these systems will allow for simultaneous radiation therapy delivery and high-field MR tumor monitoring.

Feature | Radiation Oncology | July 05, 2017 | By Jeff Zagoudis
Image-guided radiation therapy offers great potential to improve the efficiency of treating cancer patients by more...

Photo courtesy of RaySearch

Feature | Treatment Planning | July 05, 2017 | By Jeff Zagoudis
While radiation oncologists have a number of proven techniques at their disposal for treating patients, the reality is...
Overlay Init