Global Cytotoxic Drugs Market Estimated to Reach $14,885.2 Million by 2028 and Grow at 1.2% CAGR in the 2021-2028 Timeframe [202-Pages] | Report by Research Dive

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- The global cytotoxic drugs market is expected to grow by 2028 due to the increasing prevalence of cancer. The parental sub-segment is expected to be highly profitable. Market in the North America region is expected to have a dominant market share.

NEW YORK, June 13, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Cytotoxic Drugs Market by Drug Type (Alkylating Agents, Antitumor Antibiotics, Antimetabolites, Plant Alkaloids, and Other Drug Types), Route of Administration (Parenteral and Oral), Application (Breast Cancer, Prostate Cancer, Lung Cancer, Pancreatic Cancer, and Other Applications), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".

According to the report, the global cytotoxic drugs market is expected to gather a revenue of $14,885.2 million by 2028, growing at a CAGR of 1.2% during the 2021-2028 timeframe.

Dynamics of the Cytotoxic Drugs Market

Drivers: The increasing prevalence of cancer among people is predicted to be the primary growth driver of the cytotoxic drugs market. Moreover, the massive expansion of healthcare services and establishments has provided a further boost to the market.

Opportunities: Growing awareness in the general populace regarding the importance of maintaining a healthy lifestyle is expected to offer huge growth opportunities to the market. Also, the growing prevalence of chronic ailments like lung and breast cancer are adding up these growth opportunities.

Restraints: Low penetration of the cytotoxic drugs, especially in low-income countries, may hamper the growth trajectory of the cytotoxic drugs market.

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Covid-19 Impact on the Cytotoxic Drugs Market

The Covid-19 pandemic has had a negative impact on several businesses and industries, including the cytotoxic drugs market. The main reason behind this is the lockdowns that were imposed in various countries. These lockdowns disrupted the global supply chains, thereby hampering the supply of raw materials as well as delivery of manufactured products. Moreover, the world's healthcare services were so focused on the Covid-19 pandemic that other diseases like cancer got ignored to a certain extent which further affected the market.

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Segments of the Cytotoxic Drugs Market

The report has divided the cytotoxic drugs market into a few segments based on drug type, route of administration, application, and regional analysis.

• By drug type, the antimetabolites drugs sub-segment of the cytotoxic drugs market is estimated to have a dominating share and garner $6,908.1 million by 2028. The numerous benefits associated with antimetabolites drugs and the heavy investment in the development of these drugs are helping this sub-segment to grow at such a tremendous rate.
• By route of administration, the parental sub-segment is expected to grow at the fastest rate and register $11,273.0 million by 2028. The crucial role played by parental administration of cytotoxic drugs in countering the cancer cells has helped in the growth of this sub-segment.
• By application, the breast cancer sub-segment is anticipated to have a stunning growth rate and surpass $5,011.5 million by 2028, owing to the increasing number of dental problems among elder people. The growing incidence of breast cancer and the development of new treatments are the primary growth factors expected to propel this market.
• By regional analysis, the cytotoxic drugs market in the North America region is predicted to have the highest market share and garner a revenue of $6,902.3 million by 2028. The increasing number of cancer cases and the presence of prominent companies in this market are the two main factors behind the dominance of this sub-segment.

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Significant Cytotoxic Drugs Market Players

Some prominent market players in the cytotoxic drugs market are

1. AbbVie Inc.
2. Eli Lilly and Company
3. GlaxoSmithKline PLC
4. Pfizer Inc.
5. Novartis AG
6. Bristol-Myers Squibb
7. Johnson & Johnson
8. Merck & Co. Inc
9. Sanofi
10. F. Hoffman-La Roche AG

These players are developing various business strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to gain a commanding position in the market.

For example, in November 2020, Merck & Co. Inc., an American multinational pharma company, acquired VelosBio, a biopharmaceutical company. This billion-dollar deal will help Merck & Co. to increase its footprint in the pharma market, especially in the oncology and cytotoxic drugs segment.

The report also sums up various crucial facets including SWOT analysis, product portfolio, the financial performance of the key market players, and the latest strategic developments.

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More about Cytotoxic Drugs Market:

• 6 Cytotoxic Drugs That Have Become Quintessential to Treat Cancer
• What Precautionary Measures do the Health Care Workers and Family Members Need to Take along with the Cytotoxic Drugs Consuming Patients?
• Surging Prevalence of Cancer and Noteworthy Expansion of the Healthcare Sector to Drive the Global Cytotoxic Drugs Market by 2028

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