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Oncology Drugs Market in China Growing At A CAGR Of 8.7% and To Hit $12,688 Million By 2026

China Oncology Drugs

China Oncology Drugs

The rise in cancer awareness and availability of cancer drugs are expected to boost the market growth of the China oncology drugs market

PORTLAND, OR, UNITED STATES, September 15, 2021 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “China Oncology Drugs Market by Drug Class and Indication: Opportunity Analysis and Industry Forecast, 2018-2026,” the China oncology drugs market size is expected to reach $12,688 million by 2026, registering a CAGR of 8.7% from 2019 to 2026, in terms of value.

The key drivers of the China oncology drug market are a surge in the geriatric population and a rise in collaborations & partnerships to facilitate drug development. In addition, the surge in the prevalence of cancer and the increase in healthcare expenditure has significantly contributed toward the growth of this market. An increase in the number of pipeline drugs along with the high potential of emerging economies is further expected to provide lucrative opportunities for market expansion. However, adverse effects related to cancer drugs impede market growth.

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The China oncology drugs market is segmented based on drug class type and indication. Based on drug class type, the market is divided into chemotherapy, targeted therapy, immunotherapy, and hormonal therapy. By indication, it is categorized into blood cancer, breast cancer, gastrointestinal cancer, prostate cancer, lung cancer, skin cancer, ovarian cancer, cervical cancer, kidney cancer, and other cancers.

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Key Benefits for China Oncology Drugs Market:
• Lung cancer occupied 18.32% share of the China cancer drugs market in 2018.
• The breast cancer segment is anticipated to grow with the highest CAGR throughout the forecast period.
• The targeted therapy segment accounted for 42.35% share of the China oncology drugs market in 2018.
• Immunotherapy segment is anticipated to grow at the highest rate during the analysis period.

Major players operating in the China oncology drugs market include AbbVie Inc., Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Shanghai Junshi Biosciences Co., Ltd., Beigene and Jiangsu Hengrui Medicine Co., Ltd.

Know More: https://www.alliedmarketresearch.com/china-oncology-drugs-market

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Oncology Drugs Market in China Growing At A CAGR Of 8.7% and To Hit $12,688 Million By 2026 1