Metastatic Cancer Drugs Market to Reach $136.9 Billion, Globally, by 2032 at 7.3% CAGR: Allied Market Research

The growth of the global metastatic cancer drugs market is driven by rise in prevalence of metastatic cancer cases, advancements in cancer detection and diagnosis, and increase in adoption of personalized medicine.

PORTLAND, Ore., July 6, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Metastatic Cancer Drugs Market by Therapy (Chemotherapy, Hormonal Therapy, Targeted Therapy, and Immunotherapy), Indication (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Melanoma and Others) and Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies and Online Providers): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global metastatic cancer drugs market was valued for $67.7 billion in 2022 and is estimated to reach $136.9 billion by 2032, exhibiting a CAGR of 7.3% from 2023 to 2032.

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Prime determinants of growth

Increase in prevalence of metastatic cancer cases worldwide, ongoing advancements in cancer detection and diagnosis, and increase in adoption of personalized medicine has revolutionized the field of healthcare, particularly in the treatment of metastatic cancer are the factors that drive the growth of the global metastatic cancer drugs market. However, adverse effects of medications used for treating metastatic cancer is hampering the metastatic cancer drugs market growth. On the contrary, the high growth potential in untapped emerging economies and increase in the number of pipeline drugs are expected to offer remunerative opportunities for expansion of the metastatic cancer drugs market during the forecast period.

Report coverage & details:

Covid-19 Scenario

• The pandemic led to disruptions in healthcare systems worldwide, including delays in cancer screenings, diagnosis, and treatment.
• In addition, non-urgent medical procedures and appointments were postponed or canceled to prioritize resources for COVID-19 patients. This had resulted in burden of metastatic cancer cases and delayed initiation or adjustments of treatment regimens, impacting the demand for metastatic cancer drugs.
• However, the metastatic cancer drugs market has gradually recovered from the disruptions caused by the pandemic. As healthcare systems stabilize and resume normal operations, there is an opportunity for the key players of the market to regain momentum and address the backlog of metastatic cancer cases that were postponed or delayed.

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The targeted therapy segment to maintain its leadership status throughout the forecast period

Based on therapy, the targeted therapy segment held the largest share in 2022, accounting for nearly two-third of the global metastatic cancer drugs market revenue, owing to rise in adoption of targeted therapy in metastatic cancer treatment. On the other hand, immunotherapy therapy is projected to manifest the highest CAGR of 7.7% during forecast period, owing to rise in regulatory approvals, clinical success of immunotherapy and use of immunotherapy in aggressive metastatic cancer subtypes such as triple-negative breast cancer (TNBC).

The breast cancer segment is anticipated maintain its leadership status throughout the forecast period

Based on indication, the breast cancer segment held the largest share in 2022, accounting for more than one-fourth of the global metastatic cancer drugs market revenue, owing to rise in number of breast cancer cases diagnosed and wide availability of novel therapeutics for metastatic breast cancer treatment. On the other hand, lung cancer segment is expected to register highest CAGR of 8.1% during the forecast period owing to increasing number of metastatic non-small cell lung cancer (NSCLC) cases, and rise in regulatory approvals.

The hospitals segment to maintain its lead position during the forecast period

Based on distribution channel, the hospital pharmacies segment accounted for the largest share in 2022, accounting for more than half of the global metastatic cancer drugs market revenue owing to availability of wide range of specialized metastatic cancer drugs, including novel therapies and clinical trial medications. However, drug stores and retail pharmacies segment is projected to register highest CAGR of 7.6% during the forecast period, owing to accessibility of retail pharmacies everywhere and large chain of distribution networks.

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North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than half of the global metastatic cancer drugs market revenue, owing to presence of large patient population suffering from metastatic cancer, strong presence of key players, ease of drug availability, well developed healthcare infrastructure, favorable reimbursement policies in healthcare system, higher number of research, development, and innovation activities, and upsurge in adoption of advanced therapeutics for metastatic cancer. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.1% from 2023 to 2032, owing to increase in investments for development of anti-cancer agents, increase in number of metastatic cancer cases, and rise in awareness related to available treatment options, thereby driving the growth of market during the forecast period.

Leading Market Players: -

• Bristol-Myers Squibb Company
• Merck and Co., Inc.
• AstraZeneca Plc
• Novartis AG
• Eli Lilly and Company.
• Pfizer Inc.
• F. Hoffmann-La Roche Ltd.
• Johnson and Johnson
• Amgen Inc.
• Sanofi S.A.

The report provides a detailed analysis of these key players of the global metastatic cancer drugs market. These players have adopted different strategies such as collaboration, product launch, new product development, and product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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