Indian oncology market likely to triple in 4 years
Mumbai: April 1, 2010:- The oncology market in India is expected to touch nearly Rs 3,309 crore by 2014. According to a recent Frost & Sullivan report, the cancer market is expected to grow at a compounded annual growth rate (CAGR) of 21% from 2008 to 2014. The growth will be driven by the introduction of new treatments, increasing number of patients on chemotherapy, and improved access to modern cancer therapies. The Indian oncology market stood at Rs 1,065 crore in 2008.
Deaths from lung cancer, breast cancer, ovarian cancer and pancreatic cancer are rising in India. Cancer accounts for 8% of the main causes of deaths in India.
Increased rates of incidence of various cancer types prevailing in India has created interest among various companies like BMS, Pfizer, Roche, Sanofi-Aventis, GSK, SP Corporation, Fresenius Kabi, Natco Pharma, Sun Pharma, Dr Reddy's and Biocon to focus in the oncology segment. More than 30 companies in India market drugs for cancer treatment.
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