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news.A recent market forecast by IMS Health has revealed that the sales of cancer drugs will grow around 12-15% and by 2012 will account for $80 billion of the total global drug trade, according to PharmaTimes.
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Despite the low growth rate of global pharma market, the sales of cancer drugs are predicted to outpace the pharma market owing to the increasing patient population in Europe, Japan and North America, as well as the expanding influence of the emerging markets. Also, 30 new cancer treatments which are expected to enter the market between 2008 and 2012, may help boost the cancer drug sales.
The sales of cancer drugs are forecasted to exceed $48 billion, accounting for 17% of the global pharmaceutical sales growth in 2008. IMS Health also predicts that the pharmemerging countries – notably China, Brazil, South Korea, Mexico, India, Turkey and Russia – will increase their share in the global cancer drug sales as they witness improvements in screening and diagnosis as well as access to innovative medicines.