Cancer API Market
The global cancer API market has been posting incremental growth over the recent past and is expected to register a moderate CAGR over the forecast period, reveals Market Research Future (MRFR) in a minutely analyzed research report. Various factors are influencing the growth of the global cancer API market. Surging demand for small molecule drugs is one of the preliminary factors boosting the growth of the market. The small molecule API market is undergoing a period of rapid change. Small molecules are predominating the pharmaceutical industry and account for nearly 80% of the pharmaceutical sales, indicating their relevance in the future of pharmaceuticals. Moreover, small molecules have made significant development in the field of cancer treatment. Moreover, a growing trend of outsourcing has been witnessed in the manufacture of APIs which is expected to contribute to the market growth positively. The growth of the pharmaceutical industry in the developing countries is expected to provide an impetus to the growth of the cancer API market. The pharmaceutical industry in the developing nations as a whole is moving on a consolidation path which coupled with the growing number of mergers and acquisitions has proven to be beneficial for the growth of the cancer API market. Needless to say, towering cases of oncology diseases have been the major driving factor behind the growth of the global cancer API market. The market is also expected to benefit from improving the reimbursement landscape. On the contrary, the growth of the market might be hindered by austerity measures in Europe. Ever since the economic downfall in Europe, Germany passed an act for restructuring the pharmaceutical market in statutory health insurance in an effort to curb its pharmaceutical spending. German drugs being the standard point of reference by healthcare providers have created severe pressure on drug manufacturers to decrease their cost of manufacturing. Low cure rates, poor efficacy, and side effects of cancer API are other possible restraints. However, the pharmaceutical industry is advancing rapidly in the backdrop of patent expiry of several popular drugs which expected to provide ample of growth opportunities to the global cancer API market
Major Key Players
Clovis Oncology, Ariad Pharmaceuticals (Takeda), Eli Lilly Company, AstraZeneca plc,
Gilead Lifesciences, Bristol-Myers Squibb, F. Hoffman La Roche, Boehringer Ingelheim,
Puma Biotech, Celgene, Exelixis Inc, Novartis AG, Pfizer Inc, AbbVie Inc., Eisai Ltd, Incyte Corporation, Bayer AG, TESARO, Inc., are the notable players operating in the global cancer API market.
The global cancer Industry has been segmented based on Tinib, Rafenib, Parib, Lisib, Degib, and Ciclib. By tinib, teh market has been segmented into Ponatinib, Brigatinib, Ruxolitinib, Erlotinib, Alectinib, Cobimetinib, Neratinib, Osimertinib, Acalabrutinib, Bosutinib, Crizotinib, Axitinib, Sunitinib, Ceritinib, Imatinib, Lapatinib, Afatinib, Cabozantinib, Dasatinib, Ibrutinib, Lenvatinib, and Gefitinib. By Rafenib, the market has been segmented into Sorafenib, Regorafenib, Vemurafenib, Dabrafenib, and Enasidenib. By Parib, the market has been segmented into Olaparib, Rucaparib, and Niraparib. By Lisib, the market has been segmented into Idelalisib and Copanlisib. By Degib, the market has been segmented into Sonidegib and Vismodegib. The Ciclib category consists of Palbociclib, Ribociclib, and Abemaciclib.
The cancer API market is proliferating in the US owing to rise in FDA approvals and high investment in RD of cancer APIs which is expected to provide lucrative opportunities for market expansion. In the meanwhile, Europe and Asia Pacific have not yet approved any small molecule API molecules which explain the limited growth of the market in these regions.
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