Cancer Therapies to Reach $26.61 billion by 2025, Report Says

pharmaceutical market outlook report 2018

One of the leading causes of death worldwide, cancer, has steadily increased to 8.8 million deaths in 2015, according to the World Health Organization. Biotech and pharmaceutical companies are using this increase as a lead to invest more money in their research and development (R&D) to find cures and therapies for many types of cancer.

Case in point, a new report by Grand View Research released on February 13 called  “Biotech and Big Pharma Industry Increase R&D Activity for Novel Cancer Therapies,” indicates that global NDDS in cancer therapy is projected to expects the market to increase 22.9 percent to $26.61 billion by 2025, up, from $4.31 billion in 2016 and representing a compound annual growth rate (CAGR) of 22.9 percent between now and then.

Some reasons for this projected market increase the report said are, “worldwide increasing incidence of cancer, availability of research funding, increase in awareness about alternative methods for treatment, and favourable reimbursement scenarios in developed nations.”

table.inline-text-ad {
border-left: none;
border-right: none;
}

.inline-text-ad h1 {
font-size: 18px !important;
font-weight: bold !important;
}

.inline-text-ad p {
font-size: 1.0rem;
}

Are You Aware of the FDA’s Plans for 2018?
Find out what’s going on in our new report

Give me my free report!

The use of nanoparticles—small particles developed to target cancer cells and cause minimal damage to healthy tissue and organs, also used in radiation—to treat cancer should also boost the market growth, already accounting for more than 70 percent of the global NDDS in cancer therapy. The leading causes of cancer deaths are lung, stomach, and colorectal for men and women both sexes worldwide.

North America Leads in NDSS Cancer Therapy

According to the report, North America is the leader when it comes to novel drug delivery systems, accounting for 36.8 percent of the overall revenue in Continue Reading

Comments are closed.