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The global Ovarian Cancer Drugs Market is estimated to be valued at US$ 3.59 Bn or billion in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The ovarian cancer drugs market includes drugs that are used for the treatment of ovarian cancer which mainly includes platinum-based drugs, anthracyclines, taxanes, PARP inhibitors, angiogenesis inhibitors and others. Ovarian cancer is the most lethal of the gynecological cancers and is associated with poor prognosis and high mortality. Ovarian cancer often goes undetected until it has spread within the abdomen and reached an advanced stage. The main treatment modalities for ovarian cancer include surgery, chemotherapy and targeted therapy.
Market key trends:
One of the key trends in the ovarian cancer drugs market is increasing focus on development of targeted therapies. Major companies are engaged in research and development of targeted therapies owing to their advantages over conventional chemotherapy. For instance, PARP (poly (ADP-ribose) polymerase) inhibitors including niraparib, olaparib and rucaparib have demonstrated significant clinical benefits in ovarian cancer patients with mutations in BRCA1/2 genes and are being increasingly adopted. Moreover, angiogenesis inhibitors including bevacizumab which target VEGF to cut off tumor blood supply is also gaining traction. These targeted approaches have improved outcomes and quality of life for ovarian cancer patients.
Porter’s Analysis
Threat of new entrants: The ovarian cancer drugs market requires huge R&D investments and lengthy drug development process. This acts as a barrier for new companies.
Bargaining power of buyers: The bargaining power of buyers is moderate as treatment options for ovarian cancer are limited. However, availability of generic drugs provides options.
Bargaining power of suppliers: Major players dominate the supply side. Suppliers rely on buyers for volume sale. Thus bargaining power of suppliers remains moderate.
Threat of new substitutes: Though immunotherapies offer new hope, limited success rate keeps threat of substitutes low currently.
Competitive rivalry: Presence of large pharmaceutical companies results in intense competition.
Key Takeaways
The global ovarian cancer drugs market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of ovarian cancer. According toGlobocan 2020, around 306,000 new cases of ovarian cancer were reported globally in 2020.
Regional analysis: North America dominated the ovarian cancer drugs market in 2023. However, Asia Pacific region is expected to witness fastest growth during forecast period owing to rising healthcare expenditure and increasing awareness.
Key players operating in the ovarian cancer drugs market are AbbVie Inc.,,Pfizer, Inc.,,AstraZeneca,,F. Hoffmann-La Roche AG,,Johnson & Johnson Services, Inc.,,Boehringer Ingelheim International GmbH,,Clovis Oncology,,ImmunoGen, Inc.,,Vivesto AB. Major players are focused on developing novel drug candidates and combination therapies to improve treatment outcomes.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
