Advancements in artificial intelligence (AI) are anticipated to transform every industry. In drug discovery and development, time and costs required are key challenges to sustain the drug development pipeline. The development of oncology therapeutics is estimated to cost over US$ 2.6 billion to the manufacturer and take over a decade. These soaring costs are mostly a result of money invested in the 90% of candidate therapies that fail to enter the late stages of drug development, i.e., between phase 1 trials and regulatory approval. AI is projected to be the foundation for rapid, cheap, and efficient drug discovery and development. The integration of AI technology in cancer care could improve the accuracy and speed of diagnosis, aid in improved clinical decision-making, and lead to better health outcomes. AI-guided clinical care can play an important role in reducing health disparities, particularly in low-resource settings. Notably, the application areas of AI are expanding to include new approaches for cancer detection, screening, diagnosis and classification; cancer genomics characterization; tumor microenvironment analysis; and predictive and prognostic biomarkers assessment. AI can enhance many processes that are directly and indirectly related to the drug discovery and development. It can be used for improved tumor classification, computer-aided organic synthesis, compound discovery, assay development, and biomarker and target discovery. In general, AI aims to automate and optimize slow processes to substantially speed up the R&D drug discovery process. Several pharmaceutical, biotech, and software companies are making efforts to integrate AI into drug discovery and development. In 2016, Pfizer partnered with IBM Watson Health, an AI platform provider, to enhance its search for immuno-oncology treatments. Sanofi joined forces with Exscientia, the spin-out of Dundee University, to discover metabolic-disease therapies. Thus, the increased use of AI in drug development and delivery would create significant opportunities for the growth of the metastatic cancer drug market during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the metastatic cancer drugs market growth in the coming years. The market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Metastatic Cancer Drugs Market Segmentation
The market for Asia Pacific metastatic cancer drugs market is segmented into cancer type ,route of administration ,drug class , product , and end user. Based on cancer type, the market is segmented into breast cancer, lung cancer, liver cancer, haematological cancer, brain cancer, prostate cancer, pancreatic cancer, and others. Based on route of administration, the market is bifurcated into intravenous and intramuscular. Based on drug class, the Asia Pacific metastatic cancer drugs market is segmented into HER2 inhibitors, immune checkpoint inhibitors, parp inhibitors, kinase inhibitors, and others. Based on product, the market is segmented into branded, generics, and biosimilars. Based on end user, the market is segmented into hospital, specialty clinic, and others. By country, the Asia Pacific metastatic cancer drugs market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific.
Asia Pacific Metastatic Cancer Drugs Market – Companies Mentioned
AbbVie Inc. ; Amgen Inc. ; Bristol-Myers Squibb Company ; F. HOFFMANN-LA ROCHE LTD.; Novartis AG ; Astrazeneca ;Eli Lilly and Company; MERCK KGaA ; Pfizer Inc. (Arena Pharmaceutical GmbH) ; and Johnson and Johnson Services, Inc. are among the leading companies in the Asia Pacific metastatic cancer drugs market .
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 7,985.76 Million |
| Market Size by 2028 | US$ 11,626.26 Million |
| CAGR (2021 - 2028) | 5.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Cancer Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Metastatic Cancer Drugs Market is valued at US$ 7,985.76 Million in 2021, it is projected to reach US$ 11,626.26 Million by 2028.
As per our report Asia Pacific Metastatic Cancer Drugs Market, the market size is valued at US$ 7,985.76 Million in 2021, projecting it to reach US$ 11,626.26 Million by 2028. This translates to a CAGR of approximately 5.5% during the forecast period.
The Asia Pacific Metastatic Cancer Drugs Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Metastatic Cancer Drugs Market report:
The Asia Pacific Metastatic Cancer Drugs Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Metastatic Cancer Drugs Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Metastatic Cancer Drugs Market value chain can benefit from the information contained in a comprehensive market report.
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