MARKET ANALYSIS
The 9th World Cancer Congress - 2024 has taken an initiative to join the assorted research and business groups working in this field under one rooftop to explore each and every part of cancer diseases. The World Cancer Congress - 2024 welcomes Oncologists, Radiologists, Chemotherapists, Physicians, Academicians, Academic scientists, Industry professionals, Diagnostic laboratory professionals, Post-Graduate students, Post-doctoral fellows and Trainees to be a part of this conference
The Europe Cancer Therapeutics Market size is expected to grow from USD 55.34 billion in 2023 to USD 71.92 billion by 2028, at a CAGR of 5.38% during the forecast period (2023-2028).
The driving factors for the growth of the European cancer therapeutics market include the ease in regulatory approval for novel cancer therapy in Europe, the rising prevalence of cancer, and strong R&D investments by the key players in the region. According to the International Agency for the Research on Cancer, 2021 data reported that the number incidence of cancer cases for the European region in the year 2020 was 4.79 million cancer cases and the number is expected to increase to 6.07 million by 2040. Thus, increasing the incidence of cancer cases is more likely to drive the market.
Breast cancer is the most prevalent cancer in the region, and the increasing incidence of this cancer and effective treatment of the targeted therapy in breast cancer patients are boosting segment growth. For instance, in 2021, International Agency for Research on Cancer reported that the Europe region reported 576 thousand breast cancer cases in 2020, and this number is expected to increase by 650 thousand by 2040. Thus, the increasing incidence of cancer cases is leading to an increase in targeted therapy, thereby boosting the demand for the market segment.
Germany is expected to show significant growth over the forecast due to a high number of cancer cases reported in the region and also due to the large number of clinical trials being conducted in the region. The International Agency for Research on Cancer 2021, reported quoted that the number of cancer cases in the Germany region in the year 2020 was 629 thousand and this number is expected to increase to 750 thousand by the end of 2040. The rate of cancer growth in the region was about 19.2%. Thus, the high rate of cancer cases and the increasing number of cancer cases is increasing the demand for cancer therapeutics thereby driving the market in the region.
The Europe cancer therapeutics market is fragmented in nature due to the presence of fewer companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known as Amgen Inc., AstraZeneca PLC, Bayer AG, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co. Inc., Novartis AG, and Pfizer Inc.
