By 2030, it is anticipated that the India oncology drugs market will reach a value of $10.6 Bn from $3.6 Bn in 2022 and is expected to grow at a CAGR of 14.6% during 2022-30. The companies operating in the oncology drug in India market are Roche Diagnostics, Novartis Oncology and Celgene Corporation. This market is segmented on the basis of therapy modality and types of cancer. Factors such as increased awareness about cancer and its treatments, rising disposable incomes, and improved access to healthcare are some of the major drivers of growth in the Indian oncology drug market.
By 2030, it is anticipated that the India oncology drugs market will reach a value of $10.6 Bn from $3.6 Bn in 2022 and is expected to grow at a CAGR of 14.6% during 2022-30. India's oncology drug market is expanding quickly, which has led to a demand for more creative solutions. The incidence of cancer, the number of cancer patients, and the use of novel therapies are the main causes of this growth. With a projected 1.4 Mn new cases of cancer in the year 2020, the public health burden of cancer in India is steadily increasing. Due to issues with awareness, accessibility, and affordability, more than 80% of these patients present with advanced disease.
In India, between 60% and 75% of cancer patients receive treatment in private hospitals, where they run the risk of high OOP costs and distressed financing. India’s cancer burden is set to grow to over 1.5 Mn cases by 2025.
Market Growth Drivers Analysis
More people are able to access life-saving treatments and medications as a result of the rising prevalence of cancer and other related diseases, as well as the rising affordability of these drugs. Numerous foreign investors have been drawn to India's healthcare sector by the expansion of the oncology drug market. To help suffering patients afford medical care, the NPPA launched a Pilot on Trade Margin Rationalization for 42 anti-cancer drugs by using extraordinary powers in the public interest.
Following a decade of caution and organic growth, Indian pharmaceutical companies are currently on an acquisition binge. They appear to be primarily targeting anticancer medications. The country's Parliamentary panel has also demanded that middle-class households receive free cancer treatment through a government-funded health insurance program as patient numbers continue to rise. In response to increased research, India recently created Cervavac, its first locally produced vaccine, to prevent cervical cancer.
Market Restraints
Since most costs must be paid out-of-pocket, patients are burdened and may be constrained as a result.
Key Players
November 2022: The purchase of Viatris has been completed by Biocon Biologics, the biosimilars manufacturing division of Biocon. With full ownership of its collaboration assets, including the anti-cancer drug Bevacizumab, the anti-cancer drug Trastuzumab, the anti-cancer drug Pertuzumab, and the anticancer drug Pegfilgrastim, which is used to treat low white blood cells, the acquisition is expected to boost cancer therapy.
November 2021: Laurus Labs will invest in ImmunoACT, an IIT-Bombay-incubated company that is creating a domestic CAR T-cell therapy for treating particular types of blood cancers. On a fully diluted basis, the company purchased a 26.62% stake in ImmunoACT.
The National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases and Stroke (NPCDCS) is being implemented under National Health Mission (NHM) for up-to-the-district level activities.
For the purpose of providing financial aid to cancer patients, the "Health Minister's Cancer Patient Fund (HMCPF)" within the Rashtriya Arogya Nidhi (RAN) has also been established. Additionally, the privately chosen insurance policy includes coverage for chemotherapy.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Drug class
By Therapy
By Indication
By Dosage form
By Distribution channel
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