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Blockbuster Oncology Brands Market Size Worth $62.80 Billion by 2027: Grand View Research, Inc.
SAN FRANCISCO, April 29, 2019 /PRNewswire/ -- The global blockbuster oncology brands market is poised to reach USD 62.80 billion by 2027, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.3% during the forecast period. Shift towards immunotherapies coupled with increasing number of indication expansion trials is one of the primary growth stimulants for the market.
Key suggestions from the report:
- North America dominated the global arena in 2017, with approximately 65.0% share. The region is likely to maintain its position through 2027
- In terms of revenue, the lung cancer segment is estimated to expand at a CAGR of over 9.0% during the forecast period
- The multiple myeloma segment held more than 30.0% of the market revenue in 2017 and is anticipated to lose its position to lung cancer by 2027
- Europe is projected to experience modest growth during the forecast period due to delays in cost-effectiveness analysis, carried out by health technology assessment bodies, slowing approval process and lowering reimbursement
- Some of the key companies present in the market are Tesaro, Inc.; Merck &Co.; Bristol Myers Squibb; AstraZeneca Plc; and Roche Ltd.
Read 170 page research report with TOC on "Blockbuster Oncology Brands Market Size, Share & Trends Analysis Report By Brand (Opdivo, Revlimid, Zejula), By Indication (Lung Cancer, Lymphoma, Multiple Myeloma), And Segment Forecasts, 2018 - 2027" at: https://www.grandviewresearch.com/industry-analysis/blockbuster-oncology-brands-market
Current market analysis reveals Revlimid and Opdivo as bestselling therapies in the marketplace in 2017. However, a robust pipeline will uplift Opdivo's sales, while Revlimid's patent expiration will lower its revenue share in the market by 2027. Although Keytruda poses strong competition to Opdivo, especially after bagging a frontline approval for NSCLC in 2017, the immunotherapeutic is expected to trail behind the latter by 2027.
Lifecycle management strategies, including expansion of approved indications and development of combination therapies, underline competitive dynamics in the global blockbuster oncology brands market. Collaborative agreements signed by participating companies facilitate development, commercialization, and regional expansion of products. Such strategies not only enable players to gain easy access into new markets, but also allow them to leverage scientific and technological expertise of their collaborative partner.
Grand View Research has segmented the global blockbuster oncology brands market on the basis of brands, indication, and region:
- Blockbuster Oncology Brands Outlook (Revenue, USD Million, 2015 - 2027)
- Blockbuster Oncology Brands Indication Outlook (Revenue, USD Million, 2015 - 2027)
- Lung cancer
- Breast cancer
- Multiple myeloma
- Blockbuster Oncology Brands Regional Outlook (Revenue, USD Million, 2015 - 2027)
- North America
- Asia Pacific
- New Zealand
- Hong Kong
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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