Global oncology market to reach $150 billion by 2020, says IMS Health
Global sales of oncology drugs rose to $107 billion in 2015, according to a new IMS Health report, with growth being driven by the more than 20 tumour types being treated with one or more of the 70 new cancer treatments that have been launched in the past five years.
The report, called Global Oncology Trend Report: A Review of 2015 and Outlook to 2020, highlights how the sustained rise in innovative new therapies is driving the global oncology market, with global spending rising by 11.5% on a constant-dollar basis in 2015.
The plethora of cancer therapies being developed and commercialised is set to sustain high growth in the market all the way through to 2020, with the market estimated to be worth $150 billion in the next five years.
However, the availability of new cancer drugs varies widely across the world. Of the 49 oncology new active substances that were initially launched between 2010 and 2014, fewer than half were available to patients by the end of 2015 in all but six countries: the US, UK, Germany, Italy, France and Canada.
Of those drugs in development, there is a focused effort on the expanded use of targeted therapy and, in the US, IMS identified key trends including a shift toward integrated delivery systems, rising treatment costs and higher patient out-of-pocket expenses.
Murray Aitken, IMS Health senior vice president, says: “The new science redefining cancer as a large number of narrowly defined diseases and yielding therapeutic options for an expanding number of patients is rapidly transforming the oncology treatment landscape.
“Most health systems are struggling to adapt and embrace this evolution—including the regulatory systems, skilled professionals, diagnostic and treatment infrastructures, and financing mechanisms that are required to serve the needs of cancer patients around the world. These challenges demand urgent attention in light of the strong near-term pipeline of clinically distinctive therapies, and new programs such as the U.S. government’s ‘cancer moon shot’ that are galvanizing research efforts to change the trajectory of cancer.”
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