2014-01-23 17:40:05 - Solid Tumors Market in Asia Pacific to 2019 - a new market research report on companiesandmarkets.com
The Asia-Pacific solid tumors treatment markets - bladder, ovarian, pancreatic and prostate cancers - is expected to grow from $1 billion in 2012 to $2.3 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 12.3%.The fastest growing market for solid tumors in the Asia-Pacific region is Australia, achieving an expected CAGR of 13.9% by the end of the forecast period. A slower growth rate is expected in India (9.7%) and China (5.5%), due primarily to stricter pricing regulations and recent price cuts.The average cost of treatment for the four cancer types mentioned previously is also estimated to grow from $4,001 in 2012 to $6212.5 by 2019, at a CAGR of 6.5%. The cost of treatment in Australia will
be even higher, increasing from $3,703 in 2012 to $7,576 by 2019, at a CAGR of 10.8, driven mainly by better access and speedier launches of new drugs in the country.The solid tumors treatment market is expected to show modest growth over the forecast period due to recent drug approvals and expected product launches for ovarian, pancreatic and prostate cancers. These new approvals, which have occurred in the last two years, have the potential to influence disease treatment patterns and may therefore have an effect on market size.With the Chinese government´s ambitious plans for healthcare reforms, access to healthcare facilities and drugs is expected to increase in the coming decade, which could be a major driver for the solid tumors market, although pricing regulation in China and India could restrict potential growth.In recent years, several attempts were made by the pricing and regulatory bodies in both India and China to improve access and affordability of innovative drugs. In late 2012, Indian government approved regulations to cap prices of 348 drugs on the Essential Drugs List (EDL). Additionally, manufacturers are required to price their drugs below the ceiling price, which is fixed by taking an average cost of all drugs that have more than 1% market share.However, a number of recent drugs have been approved in Australia and Japan, including Afinitor, Avastin, Jevtana, Sutent and Zytiga, which could trigger a shift in the treatment paradigm in the foreseen future.
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