Patient's genetic profile will now offer Personalize medicine

The key factors such as increasing prevalence of cancer across the globe, growing generic drug launches and benefits offered by the generic drugs are likely to boost the market growth, whereas, inclination towards the personalized medicine for cancer is likely to be a prevalent trend in the future years. Asia Pacific generic oncology drugs market is expected to grow at highest rate during the forecast period. The growth is contributed by the key driving factors such as development of generics at mass scale, increasing exports by Indian manufacturers, new trade agreements by Asian companies with international players for sales, distribution as well as research collaborations as well as launch of innovative and novel generics for cancer treatment. The market for generic oncology drugs in the Asia Pacific region is expected to reach US$ 7,692.32 Mn in 2027 from US$ 4,299.63 Mn in 2018. The growth rate of the market in the region is estimated to be 6.9% during the forecast period.

Product launches, agreements, and acquisitions were observed as the most adopted strategy in the global generic oncology drugs market industry. For instance, in July 2019, Sandoz announced the launch of the generic oncology medicine gefitinib indicated for adult patients with locally advanced or metastatic non-small cell lung cancer with activating mutations of EGFR-TK, which is recommended by ESMO as first-line treatment. Moreover, in September 2016, Glenmark Pharmaceuticals entered into an agreement with US-based Particle Sciences Inc. to develop and market a generic version of Celgene's ABRAXANE which is used in treatments of breast and lung cancers.

Key Company Profiles:- 

• Teva Pharmaceutical Industries Ltd.
• Sandoz International GMBH
• Glenmark
• Sun Pharmaceutical Industries Ltd
• MSN Laboratories
• Aurobindo Pharma
• Intas Pharmaceuticals
• Zydus Cadila
• Mylan N.V.
• Cipla Inc.
• Fresenius Kabi AG
• Dr. Reddy’s Laboratories Ltd

The global generic oncology drugs market, based on the molecule type was segmented into small molecule and large molecule. In 2018, the small molecule segment held a largest market share of the generic oncology drugs market, by molecule type. The advantages of small molecules in terms of their complexity and molecular size that can traverse throughout reach to target site and show its effective action as well as advent of personalized drug development are the major factors to likely account for the growth of the segment over the years to come. However, the same segment is expected to witness the highest CAGR of 6.6% over the coming years.

Personalize medicine is a new approach but is a rapidly expanding field in healthcare sector where a medical doctor can select a treatment on the basis of a patient's genetic profile which may not only minimize harmful side effects but also may lead to a successful result in short time.

Cancer personalize medicine involves the study of individuals genetic make up for tumor growth. By studying patient’s genetic make-up, the oncologist may customize the treatment depending on the patient’s genetic mutations. For instance, Mutations in ALK, KRAS and EGFR lead to lung cancer. However, identifying the type of mutation in the lung cancer patient provides crucial information for the type of treatment.  Prior to personalize medicine all patients received the same treatment for a particular type of cancer. However with the advent of personalized medicine, the patient is given treatment on basis of his/her genetic make-up. Patient’s tissue is excised to carry out the genetic diagnosis process. Due to these advantages of tailoring the treatment based on individuals genetic profile, the personalize medicine approach is likely to create many opportunities for the generic oncology drugs market.

The market for generic cancer drugs is driven by frequent drug launches. Most of the major market players are involved in the manufacturing wide range of generic cancer drugs that help in reducing cost of cancer care. For instance, in May 2019, Mylan N.V., a global pharmaceutical company announced the U.S. launch of Erlotinib Hydrochloride Tablets, 25 mg, 100 mg and 150 mg, a generic version of Genentech's Tarceva. Erlotinib Hydrochloride tablets are used for the treatment of patients with metastatic non-small cell lung cancer whose tumors have epidermal growth factor receptor (EGFR) exon 19 deletions or exon 21 (L858R) substitution mutations as identified by an FDA-approved test receiving first-line, maintenance, or second or greater line treatment after advancement following at least one earlier chemotherapy. Similarly, in January 2019, Wockhardt received United States Food & Drug Administration (USFDA) approval for 100 mg and 400 mg tablets of Imatinib Mesylate, a generic version of Gleevec, marketed in USA and other countries by Novartis. Thus, the constant developments in generic oncology drugs accelerate the market growth during the forecast period. Thus, the constant developments in generic oncology drugs accelerate the market growth during the forecast period.