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The Europe cancer therapeutics market is expected to register a CAGR of 6.3% during the forecast period, 2018 to 2023. Germany dominates the market due to growing prevalence of cancer diseases and rapid adoption of new therapy and novel drugs in the country.
High Prevalence and Incidence of Cancer in Europe
Cancer represents second most important cause of death and morbidity in Europe, accounting for 1.9 million deaths every year. According to WHO, Europe comprises only one-eighth of the total world population but has around one-quarter of the total global cancer cases. Around 3.7 million new patients are reported every year in Europe. The factors attributed to rising incidence of cancer in Europe are unhealthy lifestyles and inappropriate diet, obesity and lack of physical activity. The growing incidence and prevalence of cancer are likely to drive the growth of the cancer therapeutics market in Europe during the forecast period. Additionally, growing government initiatives for cancer awareness and strong R&D initiatives from key players are anticipated to drive the market for global cancer therapeutics.
Inequality in Access to Cancer Therapy across Europe
According to a report published by Lung Cancer Europe, various European countries face different levels of inequality in the access for treatment of cancer. The drugs in Europe are approved by the European Medicines Agency (EMA). However, the approval does not define the availability of drugs all across Europe. For instance, Germany provided patients with full access to drugs approved by the EMA for six types of cancer indications between 2006 and 2016. However, Scotland restricted access to 63% of the same drugs. Thus, inequality in the access of cancer therapy across different countries of Europe, coupled with rising cost of cancer treatment, is likely to impede the growth of the cancer therapeutics market in Europe.
Germany to Govern the Market
Germany is anticipated to dominate the Europe cancer therapeutics market, owing to high prevalence of cancer in the country because of unhealthy lifestyles, coupled with growing emphasis on early diagnosis of cancer. For instance, in 2014, Germany accounted for 2, 24,089 number of deaths due to malignant neoplasm. Ease in regulatory approval of biosimilar in treatment of cancer compared to other developed countries, is likely to augment the growth of the cancer therapeutics market in Europe.
Key Developments in the Market
• May 2018: TESARO, Inc. in partnership with UK-based Clinigen Group launched managed access program, to provide recurrent ovarian cancer patients in Europe with access to an investigational therapy, niraparib.
• November 2017: Novartis AG had applied for the European Medicines Agency (EMA) for approval of Kymriah in Europe market. The drug will be used in children and young adults with acute lymphoblastic leukemia (ALL) and adult patients with diffuse large B-cell lymphoma (DLBCL) who are ineligible for autologous stem cell transplant.
Major Players: AMGEN. ASTRAZENECA, BRISTOL-MEYRS SQUIBB COMPANY, BAYER AG, F. HOFFMANN-LA ROCHE LTD., GLAXOSMITHKLINE PLC, JOHNSON & JOHNSON, MERCK & CO., INC., NOVARTIS AG, AND PFIZER INC., among others.
Reasons to Purchase this Report
• Current and future Europe cancer therapeutics market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
High Prevalence and Incidence of Cancer in Europe
Cancer represents second most important cause of death and morbidity in Europe, accounting for 1.9 million deaths every year. According to WHO, Europe comprises only one-eighth of the total world population but has around one-quarter of the total global cancer cases. Around 3.7 million new patients are reported every year in Europe. The factors attributed to rising incidence of cancer in Europe are unhealthy lifestyles and inappropriate diet, obesity and lack of physical activity. The growing incidence and prevalence of cancer are likely to drive the growth of the cancer therapeutics market in Europe during the forecast period. Additionally, growing government initiatives for cancer awareness and strong R&D initiatives from key players are anticipated to drive the market for global cancer therapeutics.
Inequality in Access to Cancer Therapy across Europe
According to a report published by Lung Cancer Europe, various European countries face different levels of inequality in the access for treatment of cancer. The drugs in Europe are approved by the European Medicines Agency (EMA). However, the approval does not define the availability of drugs all across Europe. For instance, Germany provided patients with full access to drugs approved by the EMA for six types of cancer indications between 2006 and 2016. However, Scotland restricted access to 63% of the same drugs. Thus, inequality in the access of cancer therapy across different countries of Europe, coupled with rising cost of cancer treatment, is likely to impede the growth of the cancer therapeutics market in Europe.
Germany to Govern the Market
Germany is anticipated to dominate the Europe cancer therapeutics market, owing to high prevalence of cancer in the country because of unhealthy lifestyles, coupled with growing emphasis on early diagnosis of cancer. For instance, in 2014, Germany accounted for 2, 24,089 number of deaths due to malignant neoplasm. Ease in regulatory approval of biosimilar in treatment of cancer compared to other developed countries, is likely to augment the growth of the cancer therapeutics market in Europe.
Key Developments in the Market
• May 2018: TESARO, Inc. in partnership with UK-based Clinigen Group launched managed access program, to provide recurrent ovarian cancer patients in Europe with access to an investigational therapy, niraparib.
• November 2017: Novartis AG had applied for the European Medicines Agency (EMA) for approval of Kymriah in Europe market. The drug will be used in children and young adults with acute lymphoblastic leukemia (ALL) and adult patients with diffuse large B-cell lymphoma (DLBCL) who are ineligible for autologous stem cell transplant.
Major Players: AMGEN. ASTRAZENECA, BRISTOL-MEYRS SQUIBB COMPANY, BAYER AG, F. HOFFMANN-LA ROCHE LTD., GLAXOSMITHKLINE PLC, JOHNSON & JOHNSON, MERCK & CO., INC., NOVARTIS AG, AND PFIZER INC., among others.
Reasons to Purchase this Report
• Current and future Europe cancer therapeutics market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
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