publication date: Jun. 3, 2016
Study: 70 Cancer Treatments Launched Over 5 Years Pushes Oncology Market to $107 Billion
A study reviewing trends in oncology found that more than 20 tumor types are being treated with one or more of the 70 cancer treatments that have been launched in the past five years.
The surge in new therapies drove the global oncology market to $107 billion in 2015, an 11.5 percent increase over the previous year in constant dollars.
Currently, more than 500 companies are actively pursuing oncology drug development around the world. Collectively, those companies are advancing nearly 600 new molecules through late-stage clinical development, most frequently for non-small cell lung cancer and breast, prostate, ovarian and colorectal cancers.
However, many recent drugs are not yet available to patients in most countries, and even when registered they may not be reimbursed under public insurance programs, according to the study by the IMS Institute for Healthcare Informatics.
Annual global growth in the oncology drug market is expected to be between 7.5 and 10.5 percent through 2020, reaching a total of $150 billion. Wider utilization of new products—especially immunotherapies—will drive much of the growth, offset by reduced use of some existing treatments with inferior clinical outcomes, according to the study. Payers also are expected to tighten their negotiation stance with manufacturers and adopt new payment models in an effort to drive greater value from their expenditures on these drugs.
“The new science redefining cancer as a large number of narrowly defined diseases and yielding therapeutic options for an expanding number of … Continue reading 42-22 Study: 70 Cancer Treatments Launched Over 5 Years Pushes Oncology Market to $107 Billion
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