Blockbuster Oncology Brands Market Size Worth USD 62.80 Billion By 2027

The global blockbuster oncology brands market is poised to reach USD 62.80 billion by 2027, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.3% during the forecast period. Shift towards immunotherapies coupled with increasing number of indication expansion trials is one of the primary growth stimulants for the market.

Current market analysis reveals Revlimid and Opdivo as bestselling therapies in the marketplace in 2017. However, a robust pipeline will uplift Opdivo’s sales, while Revlimid’s patent expiration will lower its revenue share in the market by 2027. Although Keytruda poses strong competition to Opdivo, especially after bagging a frontline approval for NSCLC in 2017, the immunotherapeutic is expected to trail behind the latter by 2027.

Lifecycle management strategies, including expansion of approved indications and development of combination therapies, underline competitive dynamics in the global blockbuster oncology brands market. Collaborative agreements signed by participating companies facilitate development, commercialization, and regional expansion of products. Such strategies not only enable players to gain easy access into new markets, but also allow them to leverage scientific and technological expertise of their collaborative partner.

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https://www.grandviewresearch.com/industry-analysis/blockbuster-oncology-brands-market

Further key findings from the report suggest:

• North America dominated the global arena in 2017, with approximately 65.0% share. The region is likely to maintain its position through 2027
• In terms of revenue, the lung cancer segment is estimated to expand at a CAGR of over 9.0% during the forecast period
• The multiple myeloma segment held more than 30.0% of the market revenue in 2017 and is anticipated to lose its position to lung cancer by 2027
• Europe is projected to experience modest growth during the forecast period due to delays in cost-effectiveness analysis, carried out by health technology assessment bodies, slowing approval process and lowering reimbursement
• Some of the key companies present in the market are Tesaro, Inc.; Merck &Co.; Bristol Myers Squibb; AstraZeneca Plc; and Roche Ltd.