Oncology Drugs Market Worth $848.94 Billion by 2030 at 9.51

New York,USA, Aug. 29, 2022 (GLOBE NEWSWIRE) — Oncology Drugs Market Worth $848.94 Billion by 2030 at 9.51 % CAGR

The revenue of the Oncology Drugs Market was USD 177.54 Billion in 2021 and is projected to reach USD 474.06 Billion in 2030 with an 11.53% CAGR. Oncology drugs are referred to as the therapeutics used for cancer treatment. It inculcates a variety of medications like targeted therapies, immuno-therapies, hormone therapies, etc. Factors like the continuous rise of cancer cases worldwide, rise in treatment options, and increase in R&D activities in some of the world’s most renowned drug laboratories are proliferating the market growth rate extensively.   

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A 360-degree insight into Oncology Drugs Market:

• The Targeted Therapy segment held the maximum share of 50.34% for the Therapy sector. 
• The Targeted Drugs segment of the Drug Class section led with a maximum share of 42.44%.
• For the Indication segment, Breast Cancer held 46.77% of the market share.
• For Distribution Channel, the Hospital pharmacies segment led the market growth with an 80.12% share.
• For the Regional section, North America comprehensively dominated with a share of 52.18%.  

Notable factors of Oncology Drugs Market growth: 

(Continuous rise in the number of cancer cases worldwide, rise in treatment options, and increase in R&D activities in some of the world’s most renowned drug laboratories are expediting the market growth rate)

• The number of cancer cases is continuously rising worldwide. International Agency for Research on Cancer had reported that globally 1 out of every 5 people develop cancer symptoms in due course of their lifetime. Moreover, SMR’s study figured out that around 1 out of 8 men and 1 out of 11 women worldwide die from cancer each year. Breast and Lung Cancers are most common causes of mortalities accounting for up…