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Oncology Drugs Global Market Opportunities and Strategies to 2032

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Dublin, May 25, 2023 (GLOBE NEWSWIRE) — The “Oncology Drugs Global Market Opportunities and Strategies to 2032” report has been added to ResearchAndMarkets.com’s offering.

This report describes and explains the oncology drugs market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global oncology drugs market grew from $223.34 billion in 2022, having increased at a compound annual growth rate (CAGR) of 6.5 % since 2017. The market is expected to grow from $223.34 billion in 2022 to $318.31 billion in 2027 at a rate of 7.3 %. The market is then expected to grow at a CAGR of 6.9% from 2027 and reach $445.23 billion in 2032.

Growth in the historic period resulted from the rapid growth in elderly population, strong economic growth in emerging markets, increased healthcare expenditure, increased number of approvals for hematology/oncology (cancer) drugs, increase in pharmaceutical R&D expenditure, advances in cancer drug discovery and revised FDA regulations to facilitate biologics drug development.

Factors that negatively affected growth in the historic period were patent expiration of drugs, pricing pressures from regulators, challenges due to regulatory changes, low healthcare access, COVID-19 impact and adverse effects of drugs.

Going forward, an increase in cancer incidence rate, a rise in healthcare expenditure, increasing older population, strong pipeline of drugs, high potential of emerging economies and rising pollution and environmental changes will drive the market growth. Factors that could hinder the growth of the oncology drugs market in the future include the high costs of drugs, expiry of major drugs patents, rise in interest rates, rising popularity of alternative therapies and natural remedies, high cost of drug development with threat of failure and Russia-Ukraine war impact.

The oncology drugs market is segmented by type into lung cancer, pancreatic cancer, breast cancer, prostate cancer, ovarian cancer, colorectal cancer, gastric cancer, kidney cancer, brain tumor, thyroid cancer, skin cancer, bladder cancer, cervical cancer, blood cancer and other oncology drugs. The blood cancer was the largest segment of the oncology drugs market by type, accounting for $43.47 billion or 19.5% of the total market in 2022. The ovarian cancer market is expected to be the fastest-growing segment going forward at a CAGR of 18.5%.

The oncology drugs market is also segmented by distribution channel into hospital pharmacies, retail pharmacies/drug stores and other distribution channels. The hospital pharmacies was the largest segment of the oncology drugs market by distribution channel, accounting for $123.10 billion or 55.1% of the total market in 2022. The other distribution channel market is expected to be the fastest-growing segment going forward at a CAGR of 7.9%.

The oncology drugs market is also segmented by mode of purchase into prescription-based drugs, and over-the-counter drugs. The prescription-based drugs was the largest segment of the oncology drugs market by mode of purchase, accounting for $207.92 billion or 93.1% of the total market in 2022. The prescription-based drugs market is expected to be the fastest-growing segment going forward at a CAGR of 7.4%.

The oncology drugs market is also segmented by route of administration into oral, parental and other route of administration. The oral was the largest segment of the oncology drugs market by route of administration, accounting for $123.50 billion or 55.3% of the total market in 2022. The oral market is expected to be the fastest-growing segment going forward at a CAGR of 7.6%.

The oncology drugs market is segmented by drug classification into branded drugs and generic drugs. The branded drugs was the largest segment of the oncology drugs market by drug classification, accounting for $189.35 billion or 84.8% of the total market in 2022. The generic drugs market is expected to be the fastest-growing segment going forward at a CAGR of 8.2%.

North America was the largest region in the oncology drugs market, accounting for 43.2% of the global market in 2022. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the oncology drugs market will be Middle East and the South America, where growth will be at CAGRs of 12.61% and 10.39% respectively from 2022-2027.

The global oncology drugs market is concentrated, with a few large players in the market. The top ten competitors in the market made up to 70.25% of the total market in 2021. The market concentration can be attributed to the high barriers to entry in terms of high costs associated with the research and development of oncology drugs and the stringent regulations set up by the regulatory authorities. Going forward the market is expected to experience further consolidation with the rising number of mergers and collaboration amongst the major players in the market.

Bristol-Myers Squibb Company Limited was the largest competitor with 13.67% share of the market, followed by F. Hoffmann-La Roche AG with 10.47%, Merck & Co. Inc. with 9.52%, Novartis AG with 7.75%, Johnson & Johnson with 7.29%, AstraZeneca PLC with 6.53%, Pfizer Inc. with 6.18%, AbbVie Inc. with 3.62%, Astellas Pharma with 2.79%, and Amgen with 2.43%.

Key Attributes:

Report Attribute Details
No. of Pages 501
Forecast Period 2021 – 2031
Estimated Market Value (USD) in 2021 $223.34 Billion
Forecasted Market Value (USD) by 2031 $445.23 Billion
Compound Annual Growth Rate 7.1%
Regions Covered Global

A selection of companies mentioned in this report includes

  • Bristol-Myers Squibb Company Limited
  • F. Hoffmann-La Roche AG
  • Merck & Co. Inc.
  • Novartis AG
  • Johnson & Johnson

Key Topics Covered:

1. Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Oncology Drugs Market Definition And Segmentations
6.4. Market Segmentation By Type
6.4.1. Lung Cancer Drugs
6.4.2. Pancreatic Cancer Drugs
6.4.3. Breast Cancer Drugs
6.4.4. Prostate Cancer Drugs
6.4.5. Ovarian Cancer Drugs
6.4.6. Colorectal Cancer Drugs
6.4.7. Gastric Cancer Drugs
6.4.8. Kidney Cancer Drugs
6.4.9. Brain Tumor Drugs
6.4.10. Thyroid Cancer Drugs
6.4.11. Skin Cancer Drugs
6.4.12. Bladder Cancer Drugs
6.4.13. Cervical Cancer Drugs
6.4.14. Blood Cancer Drugs
6.4.15. Other Oncology Drugs
6.5. Market Segmentation By Distribution Channel
6.5.1. Hospital Pharmacies
6.5.2. Retail Pharmacies/Drug Stores
6.5.3. Other Distribution Channels
6.6. Market Segmentation By Route Of Administration
6.6.1. Oral
6.6.2. Parenteral
6.6.3. Other Route Of Administration
6.7. Market Segmentation By Drug Classification
6.7.1. Branded Drugs
6.7.2. Generic Drugs
6.8. Market Segmentation By Mode Of Purchase
6.8.1. Prescription-Based Drugs
6.8.2. Over-The-Counter Drugs

7. Product/Service Analysis – Product/Service Examples

8. Supply Chain Analysis
8.1. Raw Material Suppliers
8.2. Contract Research Organization (CRO)
8.3. Oncology Drugs Manufacturer
8.3.1. Drug Discovery
8.3.2. Preclinical And Clinical Trials
8.3.3. Patents Upon Discovery And Approval
8.3.4. Drug Manufacturing
8.4. Contract Manufacturing Organization (CMO)
8.5. Wholesalers/Distributors
8.6. Retailers (Pharmacies) And Hospitals
8.7. Oncologists
8.8. End-Users

9. Customer Information
9.1. Cancer Patients Are In Need Of Pharma’s Support
9.2. Oncologists Want To Understand More About Precision Medicine Sold To Them
9.3. Cancer Care Clinicians Are Satisfied With Telehealth And Continue To Use It
9.4. Patients Have Low Access To High Priority Cancer Medicines
9.5. Oncology Drug Shortages Are A Growing Concern For Clinical Practice
9.6. COVID-19 Pandemic Effects On Cancer Patients And Survivors
9.7. Most People Are Aware Of At Least One Major Cancer Risk Factor
9.8. COVID-19 Disrupted The Operations Of European Oncology Pharmacies And Clinical Practices
9.9. Only 17% Of Cancer Patients Receive Correct Treatment

10. Major Market Trends
10.1. Investment In Artificial Intelligence For Oncology Drugs
10.2. Development Of Next Generation Biologics
10.3. Innovation In Patient Therapies (New Active Substances)
10.4. CRISPR-Cas9 Technology Use In Cancer Treatment
10.5. Expansion Of Cell And Gene Therapy & CAR-T Approvals
10.6. Development Of Personalized Cancer Vaccines
10.7. Microneedle Pills
10.8. Rising Focus On Immunotherapy Drugs For Cancer Treatment
10.9. Development Of Innovative Drugs To Treat Hematopoietic Cancers
10.10. Collaboration Driving Innovation
10.11. Rising Focus On Targeted Therapy

11. Global Oncology Drugs Market Size And Growth
11.1. Market Size
11.2. Historic Market Growth, 2017 – 2022, Value ($ Billion)
11.2.1. Market Drivers 2017 – 2022
11.2.2. Market Restraints 2017 – 2022
11.3. Forecast Market Growth, 2022 – 2027, 2032F Value ($ Billion)
11.3.1. Market Drivers 2022 – 2027
11.3.2. Market Restraints 2022 – 2027

For more information about this report visit https://www.researchandmarkets.com/r/f8m8wa

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Aurionpro Solutions acquires Arya.ai, to power next generation Enterprise AI platforms for Financial Institutions

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SINGAPORE, April 20, 2024 /PRNewswire/ — Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) announces the acquisition of Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai, Aurionpro will enhance its portfolio of enterprise fintech offerings to expedite adoption of AI that is responsible, accurate, and auditable.

 
 
Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and more, to complement and strengthen Aurionpro’s industry leading portfolio.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including  secondary acquisition and fund infusion is approximately 16.5 MN USD.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company will create an industry leading Enterprise AI platform focused on creating value for financial institutions globally. 
Commenting on the acquisition, Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”
“Our decade long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance.” Says Vinay Kumar CEO/Founder of Arya.ai. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embeds AI, augmenting a task or Autonomous Agents that can take over entire transactions”. 
Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been one of the first ‘AI’ startups to use Deep Learning and deploy in enterprises. Arya.ai’s BFSI PaaS offerings include Arya API with 80+ ML models, Libra for fine-tuning SOTA ML models, and AryaXAI for AI governance.
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Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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Procurement Analytics Market- Global Forecast to 2026
About MarketsandMarkets™
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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