The global Generic Oncology Pharmaceuticals Market was valued at $24.5 billion in 2022 and is expected to grow at a 6% CAGR between 2022 and 2028, reaching more than $34.8 billion by the end of 2028. Increasing inclination of individuals towards smoking and tobacco consumption is the chief cause of cancer. Secondary factors such as sedentary lifestyle, genetic causes, viral infections, carcinogens, and high consumption of junk food make the human body susceptible to cancer.
Growing concerns of a high number of deaths occurring on the back of cancer have provoked the government authorities to take effective steps for preventing cancer.
Generic oncology drugs, being able to detect and treat tumors, are utilized extensively in the healthcare industry for treating cancer. Notable enhancements in the technology with the blend of information is expected to accelerate the pace of growth for the generic oncology drugs market and the cost pertaining to the treatment of cancer.
Advanced technologies such as real world data, mobile apps, and artificial intelligence have successfully been able to achieve a high engagement rate of the patients, which has resulted in increasing awareness of the cancer treatment among the patients.
Recent Developments to Drive the Growth of the Generic Oncology Drugs Market
The key players involved in transforming the landscape of the generic oncology drugs market include Novartis AG, CELGENE CORPORATION, Merck & Company Inc., Pfizer Inc., GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., NATCO Pharma Limited, Aurobindo Pharma, Hikma Pharmaceuticals PLC, and Mylan N.V.
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Key Segments Of Generic Oncology Drugs Industry Survey
Generic Oncology Drugs Market by Molecule Type:
Large Molecule Generic Oncology Drugs
Small Molecule Generic Oncology Drugs
Generic Oncology Drugs Market by Route of Administration:
Oral Generic Oncology Drugs
Parenteral Generic Oncology Drugs
Generic Oncology Drugs Market by Distribution Channel:
Generic Oncology Drugs Sold at Hospital Pharmacies
Generic Oncology Drugs Sold at Retail Pharmacies
Generic Oncology Drugs Sold at Online Pharmacies
Generic Oncology Drugs Sold at Managed Care Institutions