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The 2018 oncology drug market had a record number of new treatments and continued a trend of growth.
The expected spending and growth in the oncology market is growing, according to a new report.
Oncology is the largest therapy area in biopharmaceuticals characterized by a large number of recently launched therapies, significant clinical benefits, the largest pipeline of any therapy area and significant potential breakthroughs in new mechanisms in the next few years, according to IQVIA Institute’s “Global Oncology Trends 2019: Therapeutics, Clinical Development and Health System Implications” report.
The report found that in 2018, a record number of 15 new active substance oncology treatments with 17 indications, including one tissue-agnostic therapy, launched in the U.S. Those 2018 debuts bring the total number of new oncology therapeutics launched since 2013 to 57 covering 89 approved indications for 23 different tumor types.
However, despite extensive pipeline activity, oncology remains the most challenging area for research and development, facing significant risk of failure and long, costly development, according to the report.
Other unique findings from the report include:
“The future looks robust with a large and varied pipeline, a focus on biomarkers and overcoming logistical and technological hurdles to identifying and managing patients, and extremely promising mechanisms in development promising improved patient response and survival across a range of tumors with large populations and small,” says Michael Kleinrock, research director, IQVIA Institute.