LAMEA Oncology/Anti-Cancer Drugs Market report, published by Allied Market Research, forecasts that the market is expected to garner $17,072.2 million by 2021, registering a CAGR of 8.6% during the period 2015 – 2021. Chemotherapy segment is expected to maintain a dominant share in the LAMEA oncology/cancer drugs market during the forecast period.
High prevalence and rising incidence rates of major types of cancers (such as breast cancer and prostate cancer), emerging treatment algorithms and widespread use of anti-cancer drugs for treating conditions such as blood cancer (leukemia) is expected to drive this market. In addition, growing popularity of biological and targeted drug therapies, which help in improving the patientssurvival time, are projected to provide opportunities in the LAMEA oncology/anti-cancer drugs market. However, factors such as high cost associated with cancer drugs and related side effects are likely to affect the market growth.
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COVID-19 scenario analysis:
1) The COVID-19 impact on the Oncology/Anti-cancer drugs Market in LAMEA is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
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Key findings of LAMEA Oncology/Anti-Cancer Drugs Market:
Immunotherapy (biologic therapy) is projected to be the fastest growing segment, registering a CAGR of 12.2% during the forecast period.
Chemotherapy is expected to dominate the LAMEA oncology/cancer drugs market throughout the forecast period.
Blood cancer segment would lead the LAMEA oncology/cancer drugs market through 2021.
Algeria is anticipated to be the fastest growing country in the LAMEA oncology/anti-cancer drugs market, registering a CAGR of 12.8?tween 2015 and 2021.
Brazil was the highest revenue generating country in the LAMEA oncology/anti-cancer drugs market with about one third of market share in 2015.
List of Key Players Profiled in the Report:
Amgen Inc., AstraZeneca Plc., Roche Diagnostics, GlaxoSmithKline PLC, Merck & Co., Novartis AG, AbbVie Inc. Sanofi, EIMC United Pharmaceuticals (EUP), and Actavis plc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.