Cancer Drug Market "Set To Grow 12% PA"
The value of the world market for cancer therapies will grow 12% a yearto 2005, above the forecast growth for the drug industry as a whole, says a new study from Datamonitor, available through the Marketletter's offices.
The market for cancer drugs will reach a value of $28.3 billion by 2005, the report forecasts, three times greater than its value in 1995, which was $9.1 billion. 1997 sales are expected to total $11.4 billion.
The major drivers of the market are the increasing diagnosis and incidence of cancers, particularly as life expectancy grows, and the launch of newer and more efficacious products, which has also expanded the market, by both value and volume.
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