AbbVie Inc.-Company profile, Business Overview, Financial Performance, Operating Segments, Strategic Moves, and Competitive Intelligence Report

Oncology/Anti-cancer drugs are used for treating various cancer types for improving and prolonging a patients survival time. Biological drugs, based on monoclonal antibodies (mAbs) would emerge as a preferred option for treating various cancer types, especially blood cancer (leukaemia). The rising incidence and prevalence of various cancer types, new cancer treatments and growing importance of biological and targeted drug therapies, are driving the market growth of LAMEA oncology/anti-cancer drugs. In addition, increasing demand of anti-cancer drugs for the treatment of ageing population, rising government funds and improved treatment results, are major factors boosting the market growth. However, the high cost involved in new drug development, coupled with threat of failure and adverse effects associated with anti-cancer drugs therapies, would restrain the growth of the LAMEA market. Moreover, accessibility of anti-cancer drugs incurred by high cost, is a major challenge that is expected to further impede the performance of anti-cancer drugs in LAMEA region.