The Oncology/Cancer Drugs market witnessed tremendous growth in the recent past on an account of rise in cases of cancer, especially breast cancer patients in the countries such as UAE and Saudi Arabia. According to the World Health Organization’s (WHO) International Agency for Research on Cancer (IARC), a total 4,707 new cancer cases were found in the UAE in 2018. In order to reduce the number of deaths in the GCC region, various steps have been taken by the government to boost the manufacturing and R&D activities of oncology drugs. GCC region consists of untapped market potential which offers lucrative opportunities for the growth of market players by introducing oncology formulation plants in the region.
According to MarkNtel Advisors’ research report titled “GCC Oncology/Cancer Drugs Market Analysis, 2020”, the GCC Oncology/Cancer Drugs market is expected to grow at a considerable CAGR during 2020-25. Based on Therapy, Immunotherapy dominates the GCC market for Oncology/cancer drugs. It is an active area for research in cancer treatment as it has fewer side effects and high efficacy and fewer side effects. Moreover, it also enables stimulation of the patient’s immune system to fight cancer cells, which further promotes the growth of Cancer Drugs market. Moreover, Chemotherapy is segment is also witnessing subsequent growth on an account of escalating use of oral chemotherapy in practice as it enables to patients have non-invasive option of treatment, and also offers to them to have control over their medications.
“GCC Oncology/Cancer Drugs Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and market opportunities available for Oncology/Cancer Drugs providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Saudi Arabia and UAE Acquired the Largest Share in Oncology/Cancer Drugs Market
In 2019, Saudi Arabia and UAE captured the majority market share in the GCC Oncology/Cancer Drugs on account to subsequent increase in breast cancer in women and mushrooming geriatric population. Besides this, the increasing dominance of international players in the region such as Dubai and Abu Dhabi for the launch of new medicine to improve access to cancer treatments. Moreover, Saudi Arabia is also planning to produce cancer medicine with international specifications in near future. Along with this, extensive spending by the government on the healthcare facilities, rising cancer awareness among people, introduction of various campaigns by the regional governments, and burgeoning number of pipeline cancer drugs are key factors which are estimated to proliferate the market growth of GCC Oncology/Cancer Drugs in the near future as stated in the MarkNtel Advisors’ research report “GCC Oncology/Cancer Drugs Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the GCC Oncology/Cancer Drugs market include Hoffmann-La Roche Ltd., Johnson & Johnson Middle East FZ LLC, Pfizer International Corporation, Merck Serono Middle East FZ-Ltd., AbbVie Biopharmaceuticals GmbH, AstraZeneca Gulf FZ LLC, Bayer Middle East FZE, Amgen, Inc., Astellas MENA/SSA etc.
Key questions answered in the study: