LAMEA Oncology/Anti-Cancer Drugs Market report, published by Allied Market Research, forecasts that the market is expected to garner $17,072.2 million by 2021, registering a CAGR of 8.6% during the period 2015 - 2021. Chemotherapy segment is expected to maintain a dominant share in the LAMEA oncology/cancer drugs market during the forecast period.
High prevalence and rising incidence rates of major types of cancers (such as breast cancer and prostate cancer), emerging treatment algorithms and widespread use of anti-cancer drugs for treating conditions such as blood cancer (leukemia) is expected to drive this market. In addition, growing popularity of biological and targeted drug therapies, which help in improving the patientssurvival time, are projected to provide opportunities in the LAMEA oncology/anti-cancer drugs market. However, factors such as high cost associated with cancer drugs and related side effects are likely to affect the market growth.
Key findings of LAMEA Oncology/Anti-Cancer Drugs Market:
- Immunotherapy (biologic therapy) is projected to be the fastest growing segment, registering a CAGR of 12.2% during the forecast period.
- Chemotherapy is expected to dominate the LAMEA oncology/cancer drugs market throughout the forecast period.
- Blood cancer segment would lead the LAMEA oncology/cancer drugs market through 2021.
- Algeria is anticipated to be the fastest growing country in the LAMEA oncology/anti-cancer drugs market, registering a CAGR of 12.8% between 2015 and 2021.
- Brazil was the highest revenue generating country in the LAMEA oncology/anti-cancer drugs market with about one third of market share in 2015.
Saudi Arabia, is the leading country market from the Middle East region and would continue to lead until 2020, owing to rising incidence rates of cancer, high healthcare expenditure and gross national income (GNI) in Saudi Arabia. Algeria, is expected to witness highest growth rate because of considerable funding, urbanized healthcare facilities and establishment of national healthcare systems. Furthermore, acquisition is the key growth strategy adopted by the leading players in the market, which helped companies to expand their oncology drugs business. In addition, the market players have also adopted strategies, such as approval and collaborations, to sustain the competition in the market. The key companies profiled in the report include, Amgen Inc., AstraZeneca Plc., Roche Diagnostics, GlaxoSmithKline PLC, Merck & Co., Novartis AG, AbbVie Inc. Sanofi, EIMC United Pharmaceuticals (EUP) and Actavis plc.