According to a research report titled ‘Global Anticancer Drugs Market Size study, By Drug Type - Cytotoxic Drugs (Alkylating Agents, and Antimetabolites), Targeted Drugs (Monoclonal Antibodies and Tyrosine Kinase Inhibitors), and Hormonal Drugs), By Therapy Type (Chemotherapy, Targeted Therapy, and Immunotherapy), By Cancer Type (Lung Cancer, Breast Cancer, Leukemia, and Colorectal Cancer), and Regional Forecasts 2020-2027’, available with Market Study Report, global anticancer drugs market was valued at USD 105.4 billion in 2019 and is anticipated to register 6.7% CAGR over 2020-2027, amassing USD 177.14 billion by the end of forecast period.
 

As per the report, rapid momentum gained by cancer-awareness campaigns with the help of central and local authorities is promoting worldwide anticancer drugs market growth. Citing an instance, National Breast Cancer Foundation Inc. is undertaking annual initiatives by observing October as breast cancer awareness month. Such programs encourage women to undergo screening tests, resulting in rising number of diagnostics, hence creating a large user base for anticancer drugs.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3029615/
 

Furthermore, patient confidence in anticancer drugs is improving due to rise in government spending towards research & development of medicines, thereby enhancing outcomes and have lesser side effects.
 

Notably, in the U.S., Food and Drug Administration (FDA) provides market exclusivity and tax benefits to entities that produce medicines for rare diseases such as cancer. As a result, demand and supply tendencies of anticancer drugs market are expected to rise, hence garnering massive revenues.
 

The American Cancer Society reported that total number of cancer-related deaths was 8.2 billion during 2012 and is expected to rise during the forecast period. Anti-cancer drug market revenue is anticipated to jump 50% during the next five years, mainly due to favorable regulatory scenarios in the U.S.
 

However, global anticancer drugs industry remuneration has not risen in proportion to the dramatic increase in cancer diagnosis rates. This is primarily due to growing inclination towards natural therapy in order to avoid side effects such as hair loss, bleeding & bruising, constipation, sexual health problems, anemia, and infection & neutropenia caused by anticancer drugs.
 

By drug type, the industry is arrayed into cytotoxic drugs, hormonal drugs, and targeted drugs. Moving on to therapy types, the market can be classified into chemotherapy, immunotherapy, and targeted therapy.
 

Based on cancer type, worldwide anticancer drugs industry is divided into leukemia, colorectal cancer, breast cancer, and lung cancer among others.
 

On the regional front, North America anticancer drugs market size is expected to grow at a rapid pace during the forecast period owing to increased awareness about the benefits of early detection, rising disposable incomes, estimated pipeline drugs, and greater prevalence of cancer.
 

Major players in global anticancer drugs market are Eli Lilly and Company, Pfizer Inc., AstraZeneca plc, Merck & Co. Inc., Amgen Inc., F. Hoffmann-La Roche AG, Novartis International AG, Takeda Pharmaceutical Company Limited, Bayer AG, and Celgene Corporation.