Global Ovarian Cancer Drugs Market Expected to Reach $5.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Ovarian Cancer Drugs Market," The global ovarian cancer drugs market size was valued at $2.3 billion in 2021, and is estimated to reach $5.1 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.

Ovarian cancer is a group of diseases that originates in the ovaries, or in the related areas of the fallopian tubes and the peritoneum. Women have two ovaries that are located in the pelvis, one on each side of the uterus. The ovaries make female hormones and produce eggs for reproduction. Women have two fallopian tubes that are a pair of long, slender tubes on each side of the uterus. Eggs pass from the ovaries through the fallopian tubes to the uterus. The peritoneum is the tissue lining that covers organs in the abdomen. When ovarian cancer is found in its early stages, treatment works best. Furthermore, the cause of ovarian cancer is not clear, but experts have identified some risk factors that may include having a family history of breast and ovarian cancer, undergoing hormone replacement therapy and being overweight.

Ovarian cancers come in a variety of different tumor types and subtypes. The most common tumour type is adenocarcinoma, and the most common subtype is serous adenocarcinoma. Most serious adenocarcinomas are high-grade (aggressively growing) tumors.

The key factors that drive the growth of the ovarian cancer drugs market size are increase in aging population of women, rise in prevalence of ovarian cancer, introduction of innovative medications and increase in government support. Moreover, upsurge in healthcare spending and amplified government funding are some of the major ovarian cancer drugs market trends. However, high cost of drug development and threat of failure are likely to hamper the growth of the ovarian cancer drugs market during the forecast period. Conversely, advancement of cancer research and personalized medicine approaches are expected to provide numerous opportunities in ovarian cancer drugs industry during the forecast period.

By therapy, the targeted therapy segment dominated the ovarian cancer drugs industry in 2021 and is expected to remain dominant during the forecast period, owing to identification of molecular targets of cancer cells, fewer adverse effects, and availability of number of targeted therapeutic. In addition, recent advances in cellular technology have contributed to improve the understanding of tumour cells and their metabolism at molecular level, which further propel the market growth of this segment.

By distribution channel, the hospital pharmacy segment held the largest ovarian cancer drugs market Share in 2021 owing to increase in prevalence of ovarian cancer and increase in number of hospitalization. Moreover, the rapid adoption of automation technologies, such as pharmacy robots, dispensing, and packaging systems is driving the segment growth.

Region wise, North America has the highest ovarian cancer drugs market share and is registering a significant CAGR during the forecast period. The dominance is due to presence of large patient population, strong presence of key players, ease of drug availability, well developed healthcare infrastructure. In addition, favorable reimbursement policies in healthcare system, higher number of research, development, & innovation activities and higher adoption of advanced therapeutics further drive the market growth. Asia-Pacific is projected to register the highest CAGR during the ovarian cancer drugs market forecast. The evolving healthcare regulatory landscape, an increase in the number of patients with ovarian cancer, and the government's emphasis on enhancing R&D capabilities for innovative drug development are the key driving factors that boost the growth of the market in the region.

KEY FINDINGS OF STUDY

• On the basis of ovarian cancer drugs market analysis, the targeted therapy segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• Depending on distribution channel, the hospital pharmacy segment is projected to grow at significant CAGR during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.