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The Asia oncology drugs market is a complex ecosystem influenced by a variety of factors, such as:
Cancer is a class of chronic diseases that is characterized by the uncontrolled growth of cells. The most common cancer types are breast cancer, lung cancer, colorectal cancer, uterine cancer, and thyroid cancer. According to their mode of action, the three primary categories of medications used to treat cancer are cytotoxic medications, targeted medications, and hormonal medications.
The market for oncology pharmaceuticals has experienced rapid expansion in recent years as a result of rising drug approval rates and the introduction of biosimilar cancer therapy products. In addition, rising research and development efforts for novel cancer medications that are extremely effective and have few adverse effects have been sparked by rising healthcare spending on cancer by the major players.
Advancements in Immunotherapy: Immunotherapy, which harnesses the body’s immune system to fight cancer, has gained significant momentum.This includes checkpoint inhibitors, CAR-T cell therapy, and adoptive cell transfer.These therapies have shown remarkable success in treating various cancer types, leading to improved outcomes.
Targeted Therapies: Targeted therapies are becoming increasingly prevalent, focusing on specific molecular targets within cancer cells. These drugs offer more precise treatment options with fewer side effects compared to traditional chemotherapy. Research and development efforts continue to identify new targets and develop innovative targeted therapies.
Biosimilars: The entry of biosimilars, lower-cost alternatives to biological drugs, is intensifying competition in the market.It can potentially lower drug prices and improve affordability for patients. Regulatory agencies are playing a crucial role in ensuring the safety and efficacy of biosimilars.
Emerging Markets: The oncology drugs market in emerging markets is expanding due to rising cancer incidence and increased healthcare access. Pharmaceutical companies are forming partnerships and collaborations to tap into these growing markets. Navigating regulatory hurdles and infrastructure limitations in emerging markets can pose challenges.
Focus on Patient-Centered Care: There is a growing emphasis on improving the quality of life for cancer patients, beyond just survival. This includes addressing physical, emotional, and social needs throughout the treatment journey. Engaging patients in decision-making and providing comprehensive support is becoming a priority.
Regulatory Challenges: Navigating complex regulatory processes can be time-consuming and costly for pharmaceutical companies, impacting drug development and market entry.
Growing Middle Class: The expanding middle class in many Asian countries is increasing the demand for high-quality healthcare, including oncology treatments. This is a significant market opportunity.
Increasing Out-of-Pocket Spending: Patients are increasingly willing to pay out-of-pocket for effective treatments, creating opportunities for premium-priced oncology drugs.
Growing Telehealth Adoption: Telehealth can improve access to cancer care in remote areas, especially for follow-up appointments and monitoring.
Increasing Collaboration between Governments and Pharmaceutical Companies: Partnerships between governments and pharmaceutical companies can facilitate the development and access to affordable oncology drugs.
In May 2022, Roche Pharma launched PHESGO, the first ever fixed-dose formulation in oncology to combine two monoclonal antibodies, Perjeta (pertuzumab) and Herceptin (trastuzumab) with hyaluronidase, administered by subcutaneous injection in combination with intravenous (IV) chemotherapy, for the treatment of early and metastatic HER2-positive breast cancer in India.
In February 2022, Ono Pharma Korea Co., Ltd. a South Korean subsidiary of ONO, received approvals for Opdivo (nivolumab) Intravenous Infusion (“Opdivo”), a human anti-human PD-1 monoclonal antibody, on February 14 from the Ministry of Food and Drug Safety (MFDS) in South Korea for two adjuvant treatments (esophageal or gastroesophageal junction cancer, muscle-invasive bladder carcinoma (MIBC)) and for three combination treatments for various cancers.
Global Pharmaceutical Companies:
Regional Pharmaceutical Companies:
