Kenneth Research has evaluated the current market opportunities in Oncology Pharmaceuticals Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Oncology pharmaceuticals market in India, a leading segment of the overall pharmaceuticals market is the fourth largest in volume and eighth largest in value in the global market. Since cancer is the second largest cause of death in the country, the Indian market is characterized by a huge demand for cancer drugs. It is a highly fragmented market with a large number of foreign and domestic players. The huge increase in the number of cancer cases, specially in lung cancer and breast cancer cases; changes in the cancer treatment scenario, development of alternative cancer therapies, increased cancer health insurance coverage and increasing amount of foreign direct investment (FDI) is helping the market to grow. The Indian Government, on its part is taking initiatives to work out public-private partnership projects (PPP) and reduce the essential drug prices. The market is expected to exhibit steady growth over the next few years.
The report begins with the market overview section which provides an insight into the global market, highlighting the market size and growth. It then moves onto the Indian market, with a focus on market size and growth. It also provides import and export figures of cancer drugs in India in terms of value. Regional break-up of the imports and exports have been included.
An analysis of the drivers explains the factors for growth of the industry including increasing cancer cases, changes in the treatment scenario, development of alternative cancer therapies, increasing FDI and increase in the number of cancer health insurances. The key challenges include increased competition, drug patent problems and drug portfolio management problems.
The government initiatives section highlights the PPP R&D projects started in the country. It also analyses the various initiatives undertaken to reduce prices of cancer drugs, the various cancer control programmes implemented and the changes in the custom duty structure.
A brief overview of the drug regulations and patents is presented in the next section. It focuses the different stages of clinical trial that a drug must pass through. Drug regulations in India and drugs approved for marketing have been provided. The section also provides a list of important patent approvals.
The competition section gives overview of pharmaceutical companies in the country operating in the oncology pharmaceutical industry. Thereafter, the report highlights the features of the major players operating in the market in detail. It includes elaborate profile of the major players in the market along with their financial analysis. Porters Five Forces Analysis has been incorporated for a brief but effective understanding of the market scenario. It also incorporates the recent developments in the Oncology Pharmaceutical industry.
The section on strategic recommendations elaborates on decisions that existing players as well as new entrants can find it useful. The foray into generic drugs is oncology segment can be beneficial for the players to a large extent.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Oncology Pharmaceuticals Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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