The rise in cases of gynecological cancers, a surge in the significance of targeted drug treatments, rise in funding from the government, public, and private sectors for cancer research will boost the growth of the global gynecological cancer drugs market in the years ahead.
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Allied Market Research published a research report on the global gynecological cancer drugs market. The findings of the report state that the global market for gynecological cancer drugs generated $11.6 billion in 2020, and is projected to reach $21.8 billion by 2030, witnessing a CAGR of 6.5% from 2021 to 2030. The report offers valuable information on changing market trends, key segments, key investment pockets, and the competitive landscape for market players, shareholders, investors, and new entrants.
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The report offers an extensive analysis of drivers, restraints, and opportunities to help market players in determining strategies based on driving forces and tap into new growth opportunities. The surge in cases of gynecological cancers, the growing significance of targeted drug treatments, and the increment in funding from the government, public, and private sectors for cancer research will boost the growth of the global gynecological cancer drugs market. The rise in the number of drug approvals from regulatory authorities such as the U.S. FDA will boost the global market trends. Nevertheless, huge drug development costs and side effects of cancer drug treatment on human health will hinder the growth of the global market. However, the breakthroughs witnessed in cancer drug research activities and the launching of personalized medicine have generated new opportunities for the global market.
The research provides detailed insights regarding the Covid-19 pandemic along with its impact on the gynecological cancer drugs market across the globe. The outbreak of COVID-19 negatively affected the expansion of the global gynecological cancer drugs market due to a reduction in the rate of diagnosis of ovarian, cervical, vulvar, endometrium, vaginal, and fallopian tube cancers in patients during the pandemic. The demand for gynecological cancer drugs in the healthcare sector is predicted to increase in the post-pandemic period.
The report offers an extensive analysis of segments of the global gynecological cancer drugs market based on therapeutic modality, indication, and region. Based on therapeutic modality, the targeted therapy segment accounted for the largest share of the global gynecological cancer drugs market in 2020, contributing nearly half of the overall market share. The segment is expected to continue its domination during the forecast period. However, the chemotherapy segment is also estimated to register the highest CAGR of 7.1% from 2021 to 2030.
On basis of indication, the cervical cancer segment held the highest market share in 2021, holding nearly two-fifths of the global gynecological cancer drugs market share, and is expected to retain its dominant position during the forecast period. However, the vaginal & vulvar cancer segment is projected to register the highest CAGR of 8.2% from 2021 to 2030.
Region-wise, the North American continent contributed to the highest share of the global gynecological cancer drugs market in terms of revenue in 2020, accounting for nearly two-fifths of the overall market share. The region is estimated to continue its domination by 2030. However, the Asia-Pacific region is projected to record the fastest CAGR of 7.5% during the forecast timeline.
Major players included in the global gynecological cancer drugs market report include Apotex Inc., AstraZeneca Plc, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Merck & Co., Inc., Novartis AG, Pfizer, Inc., and Teva Pharmaceutical Industries Ltd.
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