Why Oncology Drugs Are Projected to Generate the Largest Pharma Revenues

A lot of cancer research is dealing with shrinking brain tumors and opening the door for targeted cancer therapies to work without damaging the surrounding tissue. The success rate for cancer therapies has been limited due to a combination of factors, such as the tumor’s ability to hide from and develop resistance to the treatment; excessive side effects; the treatment not being clinically effective; and the lack of penetration through the blood brain barrier. There have been a number of recent reports projecting the upcoming breakthroughs and the resultant increase in market revenues. According to various industry reports and articles, oncology drugs reached US$123.8 billion in sales in 2018 which was more than double the sales of the diabetes treatment market, which reached US$48.5 Billion dollars in sales in 2018. The articles projected that by 2024, cancer drug sales are expected to almost double to US$236.6 Billion dollars. They point to the oncology drugs in the glioma (brain tumor) market as being the fastest growing segments. Another industry report projected that the Global Glioma Diagnosis and Treatment market alone is expected to grow at a CAGR of approximately 10.1% through 2023. Active biotech and pharma companies in the markets this week include CNS Pharmaceuticals, Inc. CNSP, +6.14%, Amarin Corporation plc AMRN, +0.69%, Teva Pharmaceutical Industries Limited TEVA, -0.53%, Karuna Therapeutics, Inc. KRTX, +33.42%, Acasti Pharma Inc. ACST, +5.12% (ACST).