Eliana Grace 12 Global Generic Oncology Drugs Market Report and Forecast 2021-2026
The demand for the generic oncology drugs market is expected to rise due to an increasing prevalence of cancer cases and a surge in the geriatric population globally. However, tight regulatory controls and adverse medication effects, such as fatigue, nausea, vomiting and pain, among others, may impede the industry’s development. Fast-paced and challenging lifestyles contributing to increased consumption of alcohol and growing smoking cases are projected to benefit the industry’s growth in the forecast era. The increased popularity of targeted oncology drugs with the ability to treat multiple cancer types has also been projected to fuel demand growth over the projected timeframe. Besides, the growing pharmaceutical industry and growing awareness of cancer among the population also boost the development of the market. Generic oncology drugs are cost-effective variants of branded non-biological oncology drugs with equivalent dose, type, intensity, route of administration and intended use. These drugs are used in treating cancerous cells by either shrinking or reducing them.