February 24, 2024

Ovarian Cancer Drugs Market is Expected to be Flourished by Upcoming Novel Therapies and Combination Therapies

Ovarian cancer is one of the most common types of cancer in women. It starts in the ovaries, which are paired reproductive glands located on either side of the uterus that store and release eggs. Ovarian cancer drugs help target and destroy cancer cells while reducing signs and symptoms. Some of the majorly prescribed ovarian cancer drugs include carboplatin, cisplatin, gemcitabine, paclitaxel, doxorubicin, bevacizumab, and others. These drugs are used alone or in combination with other therapies to improve prognosis.

The global ovarian cancer drugs market is estimated to be valued at US$ 4.2 billion in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Upcoming novel therapies and combination therapies are expected to flourish the ovarian cancer drugs market during the forecast period. The introduction of targeted therapies and immunotherapies, such as poly (ADP-ribose) polymerase (PARP) inhibitors, immunotherapy drugs, and angiogenesis inhibitors will provide greater efficacy and tolerability with the potential to improve the lives of women suffering from ovarian cancer. Researchers are also investigating the use of various novel drug combinations to make cancer cells more sensitive to chemotherapy and immunotherapy. Combination therapies help overcome drug resistance and improve treatment outcomes. For instance, combining bevacizumab with chemotherapy has shown positive results.

In addition, growth factors such as increasing government support in the form of research funding for ovarian cancer and rising awareness about ovarian cancer diagnosis and treatment options are also expected to aid in the market growth over the forecast period.

Segment Analysis

The global ovarian cancer drugs market is segmented on the basis of therapy, distribution channel and region. Based on therapy, it is segmented into chemotherapy, targeted therapy and immunotherapy. Chemotherapy is further divided into platinum based, taxanes, anthracyclines and PARP inhibitors. Platinum based dominates the therapy segment as it is the first line treatment given to most patients. However, targeted therapy segment is expected to witness faster growth due to ongoing R&D of targeted drugs for treating ovarian cancer.

PEST Analysis

Political: Governments across the globe are undertaking various initiatives to spread awareness about ovarian cancer and its treatment. They are also investing in R&D to develop advanced treatment options.
Economic: Rising healthcare spending coupled with growing cases of ovarian cancer will fuel the market growth during the forecast period. However, high treatment cost associated can hinder the market growth.
Social: Growing awareness about ovarian cancer and its symptoms through various cancer associations and women health organizations help in early detection and treatment seeking behavior.
Technological: Companies are investing in development of advanced targeted therapies and immunotherapies for treatment of ovarian cancer. Ongoing clinical trials for combination therapies also present significant opportunities.

Key Takeaways

The global ovarian cancer drugs market size was valued at USD 1.2 billion in 2023 and is expected to reach USD 2 billion by 2030, growing at a CAGR of 6.6% during 2023-2030 forecast period.

Regional analysis: North America dominates the global market currently due to high awareness levels, favorable reimbursement policies and presence of key market players in the region. Asia Pacific is expected to witness fastest growth during the forecast period with growing cases in China and India.

Key players: Some of the major players operating in the ovarian cancer drugs market are Roche, AstraZeneca, Clovis Oncology, GlaxoSmithKline, Tesaro Inc, Pfizer, Merck KGaA among others. Key players are focusing on developing novel targeted therapies and combination regimens through continuous R&D investments.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it