Updated on 23 June 2016
Mr Murray Aitken, IMS Health SVP and Executive Director, IMS Institute for Healthcare Informatics
More than 20 tumor types are being treated with one or more of the 70 new cancer treatments that have been launched in the past five years, with the sustained surge in innovative therapies driving the global oncology market to $107 billion in 2015.
However, many of these drugs are not yet available to patients in most countries, and even when registered they may not be reimbursed under public insurance programs, according to a new study released by the IMS Institute for Healthcare Informatics.
The study-Global Oncology Trend Report: A Review of 2015 and Outlook to 2020-finds that growth in global spending on oncology therapeutics and supportive care drugs increased 11.5 percent on a constant-dollar basis last year.
Growth is measured using ex-manufacturer prices and does not reflect off-invoice discounts, rebates or patient access programs.
A large and diverse set of more than 500 companies is actively pursuing oncology drug development around the world. Collectively, they are advancing nearly 600 new molecules through late-stage clinical development, most frequently for non-small cell lung cancer and breast, prostate, ovarian and colorectal cancers.