Asia Pacific solid tumors market to hit $2.3 billion by 2019
By Mia Burns (email@example.com)
Business intelligence provider GBI Research has issued a report forecasting that growth within 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. Company analysts say that the fastest growing market for solid tumors in the Asia-Pacific region will be Australia, achieving an expected Compound Annual Growth Rate of 13.9 percent by the end of the forecast period. A slower growth rate is expected in India and China, primarily because of stricter pricing regulations and recent price cuts.
“Overall, the treatment population is expected to grow modestly but higher than prevalence in Asia-Pacific region due to access to more treatment options in the oncology segment,” says Vijaya Vulapalli, GBI Research’s senior analyst. “Treatment by chemotherapy in India and China has been much lower compared to the other two markets so far. In India, the overall treatment population across the four cancer types is just about 21.2 percent of the prevalent population in 2012. In China, the rate is much lower at just 15.6 percent. In India, low coverage of the state sponsored healthcare system is a major cause for this and also the trend of surgery being a commonly used treatment option for solid tumors.”
Vulapalli also told Med Ad News Daily, “In China, high cost of cancer drugs and a partial coverage in national reimbursement drug list is major contributor as also the popularity of traditional Chinese medicine. In contrast, the chemotherapy treatment patterns are similar to that of western markets in Australia and Japan, although the access to drugs might be delayed in Japan due to strict regulatory processes. In Japan, the total treatment population for the four solid tumor indications is expected to grow at an average CAGR of 7.1 percent in the forecast period.”
Several new drugs are now 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. “The new targeted therapies for prostate cancer, Zytiga and Xtandi, demonstrated better safety and efficacy profiles than other existing treatment options and the advantage of oral administration,” Vulapalli told Med Ad News Daily. “This could mean a shift in prescription patterns in this segment to targeted therapies from chemotherapies and hormonal analogs which dominated the market so far. Similarly, ovarian cancer has had the highest incidence in India with an estimated 29,657 new cases added in 2010 and although the incidence is lower in Australia, it was the most common type of death due to cancer in females. As this type of cancer has high recurrence rates, there is need for better treatment options and oncologists believe targeted therapies could replace the current treatment (platinum-based) regimen for ovarian cancer. Recently approved Avastin, and promising pipeline molecules such as Votrient and AMG 386, all being targeted therapies, may pave the way for more targeted therapies. Zytiga and Avastin were both already approved in Australia in 2012. Xtandi is expected to be launched in Australia by 2014 and in Japan by 2016. The launch of these new drugs is expected to influence the prescription patterns in this region.”
The cost of treatments is expected to increase in the forecast period mainly due to availability of new drug options in ovarian and prostate cancers as these will be priced higher until their patent expiry, according to Vulapalli. “The uptake of these new drugs is expected be higher in Japan and Australia which have better access to oncology drugs and healthcare coverage,” she says. “In India and China, the cost of treatment is expected to grow very modestly mainly due to stricter pricing controls by the state regulatory bodies and also due to lower access. These markets are already dominated by generics, where patents have expired. Moreover, as these two markets have very low treatment rates (by chemotherapy); the launch of new drugs or increase in cost of treatment (for the new drugs) may not majorly influence the competitive landscape for generics as these will be under patent protection.”
Posted: October 2013