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The oncology market is expected to grow at twice the pace of the global pharmaceutical market, reaching global sales of $92 billion in 2011, according to a report published Wednesday by French consulting firm Bionest Partners.
The growth will be fueled mainly by an increasing number of molecules in development, Bionest says, adding that at the end of 2006, over 650 oncology drugs were in late stage clinical trials, making up 30% of all compounds across the industry.
The report however says that oncology players will be faced with several challenges in the future: drug development will become more difficult and risky, the threat from generics will become a reality for several blockbusters and sustaining high prices will be tough as payers will increasingly require efficacy evidence.
It concludes that the oncology landscape will be significantly reshaped by 2012.
According to Bionest's analysis, Roche is set to remain the leading oncology player but will be strongly challenged by up-and-coming competition.
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