Australia Oncology Drugs Market Analysis Report [2022-30] I Insights10

Australia Oncology Drugs Market Analysis

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By 2030, it is anticipated that the Australia oncology drugs market will reach a value of $6.3 Bn from $2.36 Bn in 2022, growing at a CAGR of 13.1% during 2022-2030. The companies operating in the oncology drug in Australia market are Bristol Myers Squibb, Aucentra Therapeutics, and Natco Pharma. The Australia oncology drugs market is segmented on the basis of therapy modality and types of cancer. Factors such as increased awareness about cancer and its treatments and taxation policies by the government are some of the major drivers of growth in the Australian oncology drug market.

ID: IN10AUPH018 CATEGORY: Pharmaceuticals GEOGRAPHY: Australia

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Australia Oncology Drugs Market Analysis Summary

By 2030, it is anticipated that the Australia oncology drugs market will reach a value of $6.3 Bn from $2.36 Bn in 2022, growing at a CAGR of 13.1% during 2022-2030. In Australia as well as the rest of the world, cancer is one of the main causes of death and disease. Australia is one of the countries with the highest rates of cancer; in the last ten years, over $700 Mn have been spent on just cancer research. By the time they reach the age of 85, about 2 in 5 people (or 43%), will have received a cancer diagnosis. Although cancer can develop anywhere in the body, breast, prostate, skin melanoma, colorectal, and lung cancers are the most frequently diagnosed cancers in Australia. The incidence of melanoma is second highest in Australia among all countries. It was the second most common cancer among Australian men and women in 2021, with the likelihood of diagnosis rising with age for both sexes.

Despite having one of the highest rates of cancer worldwide, Australia also has one of the best survival rates. This is due to its well-rounded healthcare system, which provides access to qualified medical professionals, appropriate and efficient treatments, high-quality care, reasonably priced medications, and ongoing education.

Australia Oncology Drugs Market Analysis

Market Dynamics

Market Growth Drivers Analysis

In order to facilitate significant advancements in cancer research, the Minister of Health and Aged Care Mark Butler announced a significant increase of $5.15 Mn in research funding through Cancer Australia's Priority-driven Collaborative Cancer Research Scheme (PdCCRS).

The Australian government's R&D tax incentive, which provides tax offsets for R&D activities, is one of the main advantages for biotech companies there. The Medical Research Future Fund and the Biomedical Translation Fund are two additional sources of funding for businesses.

Market restrains:

Australia's reimbursement agency has fallen behind developed country counterparts in paying for recently approved cancer therapies, highlighting issues at the very end of a system that patients and the business community claim is broken. Advances in cancer care, including new technologies and targeted therapies, are increasing the case-specific costs of care which can also hamper the growth of the market.

Competitive Landscape

Key Players

Bristol Myers Squibb (AUS)
Aucentra Therapeutics (AUS)
Natco Pharma (AUS)
Telix Pharmaceuticals (AUS)
Novartis
Gilead Sciences, Inc.

Notable Recent Deals

December 2022: The Australian Government will contribute $3.93 Mn through Cancer Australia, and funding partners will contribute $1.21 Mn, to the successful projects. Leukemia Foundation, Lung Foundation Australia, My Room Children's Cancer Charity Limited, The Kids' Cancer Project, Australian Lions Childhood Cancer Research Foundation, and Can Too Foundation are the funding partners.

March 2021: Lonza Group signed a manufacturing agreement with Sweden's Oasmia Pharmaceutical for ovarian cancer drug candidate Cantrixil which was licensed by Oasmia from the Australian pharmaceutical company Kazia in 2020.

Healthcare Policies and Regulatory Landscape

Cancer Australia was established by the Australian Government in 2006 to benefit all Australians affected by cancer, and their families and carers. Australia's reimbursement agency has fallen behind developed country counterparts in paying for recently approved cancer therapies, highlighting issues at the very end of a system that patients and the business community claim is broken.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Oncology Drugs Market Segmentation

By Drug class

Cytotoxic drugs
- Alkylating agents
- Antimetabolites
- Others
Targeted drugs
- Monoclonal antibodies
- Others
Hormonal drugs
Others

By Therapy

Chemotherapy
Targeted therapy
Immunotherapy

By Indication

Lung cancer
Stomach cancer
Colorectal cancer
Breast cancer
Prostate cancer
Others

By Dosage form

Solid
- Tablets
- Capsules
Liquid
Injectable
- Prefilled syringes
- Others

By Distribution channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
?Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.