Worldwide cancer drug market reaches US$1B p.a.

 

Spending on cancer drugs passed the US$1B mark in 2014, an increase of 10.3% from 2013. The US accounted for just under half (42%) of the total spend for oncology drugs and oncology represented 11.3% of the total drug spend in the US, less than the 14.7% for the main five EU countries.

So-called “targeted therapies” represent about half of the total spend on oncology drugs. The emergence of immuno-oncology therapies, with their associated vast sales projections, suggests that the oncology market will continue to grow in coming years. According to IMS, the monthly cost of cancer treatments has grown by 39% over the past 10 years.

Further facts on emerging trends in the oncology market are available from SCRIP Intelligence http://marketing.scripintelligence.com/cancer