According to IMARC Group’s latest report, titled “Generic Oncology Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026.’ the global market reached a value of US$ 27.3 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 46.8 Billion by 2026.
Generic Oncology Drugs Market Trends:
The growing prevalence of cancer is one of the key factors driving the generic oncology drugs market. In line with this, increasing awareness about the benefits of early cancer diagnosis and adopting preventive measures is further catalyzing the market growth. Moreover, the inflating need for affordable and cost-effective drugs, on account of the high healthcare expenses associated with full-length cancer treatment, is acting as another significant growth-inducing factor. Besides this, the accelerating trend of patent expiration of key blockbuster drugs is augmenting the global market. Additionally, the launch of favorable initiatives by government bodies aimed at developing and promoting improved and effective generic drugs is also positively influencing the market growth. Apart from this, the rising investments in research and development (R&D) activities to reduce the cost of cancer treatments and enable cancer diagnosis at earlier stages are anticipated to fuel the generic oncology drugs market over the forecasted period.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Generic Oncology Drugs Market:
Regional Insights:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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