Asia Pacific Region
Largely driven by the rising demand and the investments provided by government, the Asia oncology drug market has incurred revenues of approximately a million dollars in 2013.
The industry has seen new entrants in the oncology drug manufacturing market recently. They have contributed to increase the overall market by 7.6%. Compared to the current situation, revenues in the year 2013 amounted to about a million dollars.
The anti-cancer drug market is subject to an array of variables such as the rate of recurrence of particular types of cancer, price cut downs, the number of players in the industry. These factors play a significant role in determining the revenues for each of the sub-segment in Oncology industry.
The Asia-Pacific markets, in its more developed regions like Japan and China, offer products that tend to come from the players in the market that are more diverse and mainly centered on customized demands.
Furthermore, there is a prediction for the market to undergo further expansion because of the introduction of newer forms of drugs due to an unfortunate increase in the number of people suffering from cancer and a resultant rise in its awareness along with the attempts to fight back against the disease.
The global pharmaceuticals companies that are focused on the marketing of patented drugs dominate the Asia oncology drug market. For Roche, the market revenues incurred from the sale of anti-cancer drugs have increased significantly in 2014, resulting in the firm being known as the largest player in oncology drug space.
In the same year, i.e. 2014, Pfizer was marked as the second largest player in the market. The rise in the number of deaths of cancer patients because of lack of proper treatment brings a massive responsibility for the pharmaceutical companies to bring valuable drugs in the market. More effective medicines will automatically result in greater revenue for the anti-cancer drug market.
China has faced a significant and continual increase in the occurrence of cancer and therefore the number of deaths recorded because of the disease. This quick increase has been majorly associated with changing lifestyles and dietary patterns including increased tobacco consumption, chain-smoking, and various other reasons.
Consequently, as compared to the revenue in 2013, the Chinese oncology drug market faced an increase of 15.0%. The Chinese oncology drug market is ruled by regional players like Jiang Su Heng Rui Medicine Co. Ltd, Qilu Pharmaceuticals Co. Ltd, and others. There is an anticipation that the market will go from incurring revenue of USD 17 billion in 2014 to USD 30 billion in 2019.
Additionally, the China oncology market’s division of generic drugs is supposed to rise by around 72% in the year 2019.