Off-Label Anticancer Drugs Market: Industry Trends, Share, Size and Forecast Report

Overview

Off-Label Anticancer Drugs Market Introduction

Off-label is also called non-approved or unapproved use of a drug. There are three conditions under which a drug can be considered as off-label:
(i) As no steps have been taken to extend the approval although efficacy evidence is available
(ii) As these drugs come under the ‘grey zone’ category of evidence- based medicine, within which it is difficult to reach high-level
evidence even for likely effective treatments especially in rare disease cases
(iii) As these drugs are ineffective or it is irrational to believe it as effective

The issue of off-label drugs is more prominent in the field of oncology than in other areas. One of the major reasons is the types of cancer. An anticancer drug assigned for a particular type of cancer can also be used for other cancer types. In actuality, many anticancer drugs that are widespread don’t get the label for all the symptoms for which they can be used effectively for treatment.

Off-Label Anticancer Drugs Market Overview

Persistent demand of anti-neoplastic drugs in better management of cancer fuelled the demand of off-label drugs. It is most common among cancer therapies due to limited availability of approved drugs for treatment. They are proven effective for many indications and in combination therapies when compared to monotherapy. Further, rising cancer prevalence among general population fuelled the growth of the market. Along with this, changing regulatory conditions to support manufacturers in the rapid advancement of technologies led to robust growth. It is legal in the US for off-label drug use and offers reimbursements for cancer treatment. Additionally, growing research activities to expand the disease indication fuelled the investments. All these factors led to the robust growth of the market during the forecast period.

Global market is dominated by North America due to supportive regulatory policies and high adoption among the physicians. North America is dominated by the US and it is expected to remain dominant same throughout the forecast period. It is followed by the European region and it is dominated by the UK, Germany, and France. European regulatory bodies restrict the off-label drug use but there is high adoption among the general physicians. It is followed by the Asia Pacific and Latin America regions are fast growing regions due to increasing adoption. They are expected accounts for 25% share of the global market. Rest of World accounts the small fraction of the global market and expected to remain the same throughout the forecast period.

Off-Label Anticancer Drugs market players include Pfizer Inc, Roche Holding, Merck Co & Inc, Novartis AG, Sanofi S.A., Gilead, J&J and others

Off-Label Anticancer Drugs Market Segmentation

By Indications

+ Lung Cancer

+ Breast Cancer

+ Prostate Cancer

+ Skin Cancer

+ Bladder Cancer

+ Others

By End User

+ Hospitals

+ Pharmacies

By Region

+ North America

+ Latin America

+ Europe

+ Asia Pacific

+ Rest of the World

Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global Off-Label Anticancer Drugs Market by Indications, by End-User, and by Region

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies