Metastatic Cancer Drug Market Research Report and Outlook by 2028

The market for metastatic cancer drugs is anticipated to grow significantly, reaching an estimated US$ 68,349.54 million by 2028, up from US$ 51,157.97 million in 2021. This growth represents a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028. The report outlines the prevailing trends and key factors contributing to the expansion of the metastatic cancer drug market.

The increase in the metastatic cancer drug market can be largely attributed to the rising incidence of metastatic cancer globally, alongside enhanced government initiatives aimed at bolstering research and development in cancer therapies. Nevertheless, the high costs associated with oncology medications pose a challenge to market growth.

Metastatic cancer refers to a progressive stage of cancer where the disease spreads to other parts of the body. The medications utilized for treating this advanced stage are classified as metastatic cancer drugs, which are administered through various therapeutic approaches, including chemotherapy, immunotherapy, and targeted therapy.

Governments worldwide are implementing missions and programs to facilitate rapid and effective cancer treatment. For instance, in 2016, the US Government initiated the Cancer Moonshot program, which aimed to accelerate scientific discoveries related to cancer, promote collaboration, and enhance data sharing. The response from the cancer patient community and medical researchers was overwhelmingly positive, leading to a relaunch of the Cancer Moonshot project on February 2, 2022. This relaunch emphasized new objectives, such as reducing cancer mortality rates by at least 50% over the next 25 years, improving the quality of life for cancer patients and their families, and ultimately striving to eradicate cancer. The initiative has successfully united a vast network of researchers and clinicians focused on expediting advancements in cancer research to enhance patient outcomes.

In 2020, approximately 2.7 million individuals in the European Union were diagnosed with cancer, with around 1.3 million succumbing to the disease. The EU has been actively addressing cancer for many years, implementing measures such as tobacco control and protection from harmful substances, which have significantly improved life expectancy. The Beating Cancer Plan represents the EU's strategic response to the pressing need for effective cancer treatment. This plan embodies a political commitment to exhaust all avenues in the fight against cancer, mobilizing the collective strength of the EU to enact beneficial changes for its citizens. The Cancer Plan outlines specific, ambitious actions aimed at supporting, coordinating, and complementing the efforts of Member States to alleviate the burden of cancer. In the coming years, the focus will be on fostering research and innovation, leveraging digitalization, introducing new technologies, and mobilizing financial resources to assist Member States.

The European Medicines Agency has approved a drug named Trodelvy, which demonstrates a favorable risk-benefit profile. Additionally, in January 2021, the EU granted conditional approval to Enhertu (trastuzumab deruxtecan), developed by AstraZeneca and Daiichi Sankyo Company, for use as a monotherapy in adult patients with unresectable or metastatic HER2-positive breast cancer who have undergone two or more prior anti-HER2 treatments. In Europe, over 531,000 new breast cancer cases are diagnosed annually, with approximately 20% of patients being HER2-positive. The impact of breast cancer is profound, accounting for over 141,000 deaths each year in Europe.

The metastatic cancer drug market is categorized by cancer type, including breast cancer, lung cancer, liver cancer, hematological cancer, brain cancer, prostate cancer, pancreatic cancer, and others. The breast cancer segment held the largest market share in 2021 and is projected to exhibit the highest CAGR during the forecast period. The market is also segmented by the route of administration, with intravenous, intramuscular, oral, and other methods. The intravenous route dominated the market share in 2021 and is expected to maintain the highest growth rate. Furthermore, the market is divided by drug class into HER2 inhibitors, immune checkpoint inhibitors, PARP inhibitors, kinase inhibitors, and others, with PARP inhibitors leading in market share in 2021, while HER2 inhibitors are anticipated to show the highest growth rate. The market is also divided into branded and generic/biosimilar products, with branded drugs holding a larger share in 2021, although generics and biosimilars are expected to grow at a faster rate. Lastly, the end-user segmentation includes hospitals, specialty clinics, and others, with hospitals accounting for the largest share in 2021, while specialty clinics are projected to grow the fastest.

Prior to the pandemic, the metastatic cancer drug market in North America was steadily expanding due to regular screenings, consultations, and treatments. However, the initial wave of the COVID-19 pandemic disrupted oncological consultations, follow-ups, and screenings. The US and Canada reported significant COVID-19 cases, with the US experiencing the highest death toll. This chaotic situation in the healthcare sector led to a decline in consultations and a reduction in cancer diagnoses. Reports indicate that cancer diagnoses fell by 40% between March 9 and May 17, 2020, compared to the same period in 2018 and 2019. The pandemic also disrupted clinical trials and the supply of drugs to patients, adversely affecting the metastatic cancer drug market.

Companies in the metastatic cancer drug market are employing various organic and inorganic strategies for growth. Organic strategies primarily involve product launches and approvals, while inorganic strategies include acquisitions, collaborations, and partnerships. These strategies have enabled market players to expand their operations, enhance their geographical reach, and contribute to overall market growth. Notable developments in the metastatic cancer drug market include AbbVie receiving Breakthrough Therapy Designation from the US FDA in January 2022 for telisotuzumab vedotin (Teliso-V) aimed at treating patients with advanced/metastatic epidermal growth factor receptor (EGFR) wild type, nonsquamous non-small cell lung cancer (NSCLC) with high c-Met overexpression.

Key sources referenced in the preparation of this report include the National Center for Health Statistics, the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and the Organization for Economic Co-operation and Development (OECD).