The generic oncology drugs market is expected to reach US$ 36,029.60 Mn in 2027 from US$ 21,200.00 in 2018. The market is estimated to grow with a CAGR of 6.3% from 2019-2027.
The key factors such as increasing prevalence of cancer across the globe, growing generic drug launches and benefits offered by the generic drugs are likely to boost the market growth, whereas, inclination towards the personalized medicine for cancer is likely to be a prevalent trend in the future years. Asia Pacific generic oncology drugs market is expected to grow at highest rate during the forecast period. The growth is contributed by the key driving factors such as development of generics at mass scale, increasing exports by Indian manufacturers, new trade agreements by Asian companies with international players for sales, distribution as well as research collaborations as well as launch of innovative and novel generics for cancer treatment.
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The Prominent/Emerging Players in the Generic Oncology Drugs Market Research include:
Teva Pharmaceutical Industries Ltd.
Sandoz International GMBH
Sun Pharmaceutical Industries Ltd
Fresenius Kabi AG
Dr. Reddy’s Laboratories Ltd
Global Generic Oncology Drugs Market – By Molecule Type
Global Generic Oncology Drugs Market – By Application
Generic Oncology Drugs Market Segmented to 2027 – Global Analysis and Forecasts by Molecular Type (Large Molecule, Small Molecule); Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Kidney Cancer, Cervical Cancer, Others), and Geography.
The market for generic cancer drugs is driven by frequent drug launches. Most of the major market players are involved in the manufacturing wide range of generic cancer drugs that help in reducing cost of cancer care. For instance, in May 2019, Mylan N.V., a global pharmaceutical company announced the U.S. launch of Erlotinib Hydrochloride Tablets, 25 mg, 100 mg and 150 mg, a generic version of Genentech’s Tarceva.
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