The Generic Oncology Drugs Global Market Report 2023, provides comprehensive information on the generic oncology drugs market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global generic oncology drugs market is expected to grow from $23.79 billion in 2022 to $25.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The generic oncology drugs market is expected to reach $33.18 billion in 2027 at a CAGR of 6.7%.
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Novel formulations are a key trend gaining popularity in the generic oncology drugs market. Major companies operating in the generic oncology drugs market are focused on developing novel drug delivery systems, modified-release formulations, and alternative dosage forms to improve patient compliance and sustain their position in the market. For instance, in January 2023, MSN Laboratories Private Limited, an India-based pharmaceutical company specializing in generic drugs, launched Palborest, the world’s first generic Palbociclib tablets for advanced breast cancer treatment. It is a generic breast cancer drug that offers a cost-effective alternative to the innovator tablet while maintaining bioequivalence. Its tablet dosage form provides a notable advantage over capsules as it can be taken with or without food and co-administered with proton pump inhibitors or antacids. Furthermore, the tablet formulation is free from lactose and gelatin, enhancing the drug’s efficacy.
The generic oncology drugs market is segmented:
1) By Molecule Type: Large Molecule, Small Molecule
2) By Route of Administration: Oral, Parenteral
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacies, Managed Care Institutions
North America was the largest region in the generic oncology drugs market in 2022.
The table of contents in TBRC’s generic oncology drugs market report includes:
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