Revolutionary Advancements Propel Cancer Therapy Market at a Rapid 8.9% CAGR, US$ 360.9 billion by 2030 - Empowering Hope for Patients and Transforming the Landscape of Cancer Treatment
The report "Cancer Therapy Market, By Cancer Type (Breast Cancer, Prostate Cancer, Blood Cancer, Gastrointestinal Cancer, Respiratory/Lung Cancer, Gynecologic Cancer, and Other Cancer Types), By Treatment Type (Immunotherapy, Hormonal Therapy, Chemotherapy, Targeted Therapy, and Other Treatment Types), By End User (Cancer and Radiation Therapy Centers, Hospitals, and Specialty Clinics), and Region - Global Forecast to 2030" global cancer therapy market is projected to grow from US$ 66.5 billion in 2019 Certain factors that are driving the market growth include increasing Patient Assistance Programs (PAPs), increasing government initiatives for cancer awareness, rising prevalence of cancer worldwide, and strong R&D initiatives from key players. The upsurge in demand for personalized medicine and high potential of developing nations is expected to provide new opportunities for the market players in future.
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Key Highlights:
• In January 2020, Medtronic Launches Efficio software to help clinicians efficiently manage targeted drug delivery therapy with SynchroMed
• In January 2020, Roche announced the completion of a supplemental Biologics License Application (sBLA) submission to the US Food and Drug Administration (FDA) for Tecentriq® (atezolizumab) in combination with Avastin® (bevacizumab), for the treatment of people with unresectable hepatocellular carcinoma (HCC) who have not received prior systemic therapy.
Analyst view:
The Cancer Therapy Market is witnessing an unprecedented growth rate, with a remarkable 8.9% compound annual growth rate (CAGR) and a valuation exceeding US$ 360.9 billion. This rapid expansion is primarily attributed to the groundbreaking advancements and innovative treatments introduced in recent years. These pioneering therapies are driving transformative changes in cancer treatment, offering new hope to patients and clinicians alike. As medical research and technological advancements continue to evolve, the cancer therapy market is expected to maintain its upward trajectory, playing a vital role in the ongoing battle against cancer. Investors, healthcare professionals, and stakeholders are closely monitoring these developments, recognizing the immense potential for improving patient outcomes and reshaping the landscape of cancer care.
Competitive landscape:
The prominent player operating in the global cancer therapy market includes Medtronic Inc., F. Hoffman-La Roche Ltd., Universal Cancer Therapy Inc., LifeScan Inc., Abbott Point of Care Inc., Sysmex Corporation, Pharmaco-Kinesis Corporation (PKC), Bio-Rad laboratories Inc., Cancer Therapy International Pte. Ltd., ACON Laboratories, Inc., Nova Biomedical Corp.
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