Europe and MENA generic oncology drug business revenue totaled USD 6.5 billion in 2022 and is expected to reach USD 6.7 billion by 2023. Over the assessment period, sales of generic oncology drugs in Europe and MENA are predicted to soar at a 2.1% CAGR, totaling USD 8.2 billion by 2033.
The small molecule segment held 73.1% in terms of value share in 2022 and is expected to surge at a CAGR of 1.9% over the forecast period. This is attributable to the growing popularity of small-molecule cancer drugs due to their multiple benefits.
| Attributes | Key Insights |
|---|---|
| Europe and MENA Generic Oncology Drug Business Value in 2022 | USD 6.5 billion |
| Estimated Europe and MENA Generic Oncology Drug Business Revenue (2023) | USD 6.7 billion |
| Projected Europe and MENA Generic Oncology Drug Business Size (2033) | USD 8.2 billion |
| Expected CAGR (2023 to 2033) | 2.1% |
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Generic drugs in oncology are providing a new ray of hope to millions of patients suffering from cancer across Europe and MENA. They have become cost-effective alternatives to branded medicines.
Generic oncology drugs are gaining immense popularity across regions such as Europe and MENA. This is due to their several benefits, including cost-effectiveness and high efficiency. The growing adoption of these generic cancer drugs is expected to boost the target business.
Oncology drugs are typically characterized by high costs and limited accessibility for the general public. Cancer treatments can be particularly challenging due to the exorbitant prices of these drugs. However, generic cancer medications provide a crucial solution, offering comparable therapeutic effectiveness at around 80% less than their branded counterparts.
Utilizing generic oncology drugs significantly reduces the financial burden of cancer treatment, ultimately enhancing the prospects of patients receiving more comprehensive care. Sales of generic injectable drugs and off-label medications have played a pivotal role in driving down the overall cost of cancer treatment, making it more manageable for a broader patient population.
Principal Consultant
The Europe and MENA generic oncology drug business accounted for around 2.0% of the overall global generic oncology drug space in 2022. The latter was valued at USD 333.5 billion. Over the assessment period, generic oncology drug sales in Europe and MENA are projected to soar at a 2.1% CAGR.
The Europe and MENA regions have experienced significant transformations in the field of generic oncology drugs in recent years. This has opened new growth prospects for generic oncology drug companies, and the trend is expected to continue through 2033.
The MENA region is observing a notable increase in cancer incidence, primarily attributed to factors such as an aging population, lifestyle changes, and improved cancer diagnosis and reporting. This is expected to drive demand for generic drugs in Europe and MENA.
Regulatory authorities in MENA countries are increasingly recognizing the significance of regulating generic oncology drugs to ensure their safety and efficacy. This will likely boost the target business during the forecast period.
Europe’s generic oncology drug landscape, while relatively mature compared to emerging businesses, continues to evolve due to multiple factors. These include patent expirations of branded oncology drugs, healthcare systems' cost containment efforts, and the growing demand for more affordable cancer treatments.
Increasing investments in oncology drug manufacturing and the rise of the biosimilar cancer drug business are expected to create growth prospects for generic oncology drug companies. Similarly, the flourishing anti-cancer generics sector will boost revenue through 2033.
The availability of cancer drugs has been a persistent concern among patients, often compounded by their high costs. The introduction of generic versions of certain medications faced initial hurdles, with a handful of general practitioners in specific countries encountering legal threats for prescribing generic alternatives still under patent protection.
The landscape, however, has changed significantly with the widespread availability of oral generic oncology drugs, resulting in substantial price reductions of up to 98.8% across Europe. Target prices for several generic oncology drugs were considerably lower than their branded counterparts, with substantial reductions.
For example, the targeted cost for bortezomib was set at USD 499.34 per treatment cycle, dasatinib at USD 10.93 per month, everolimus at USD 1,035 per month, and gefitinib at USD 12.15 per month. In comparison to the prevailing list prices in England, these target prices represented a remarkable reduction of 74% to 99.6%.
The adoption of generic oncology drugs has significantly improved the affordability of cancer treatment. This has led to an enhanced likelihood of patients receiving comprehensive and effective care, addressing both the concerns of drug availability and cost.
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The impact of pay-for-delay or reverse payment settlements on consumer costs and healthcare accessibility in the pharmaceutical sector has sparked concerns. Under these agreements, manufacturers of brand-name drugs agree not to introduce their approved generics during the exclusivity period in exchange for generic drug makers delaying the release of their less expensive equivalents of the brand-name products. Although the firms involved can perceive this as a good bargain, consumers and the healthcare system will suffer as a result.
The financial strain on consumers is one important outcome. Pay-for-delay contracts essentially prolong the monopoly period of name-brand prescriptions, compelling patients to purchase pricey prescription drugs. These agreements also postpone the release of generic cancer alternatives that are more reasonably priced.
Patients are consequently unable to transfer to equivalently effective but less expensive drugs. Hence, pay-for-delay settlements hurt patients and the healthcare system even though the pharmaceutical corporations implicated can profit from them.
The below table shows the estimated growth rates of the top countries in Europe and MENA. Among these, Libya, Israel, and Sudan are set to exhibit lucrative CAGRs of 9.3%, 8.3%, and 8.8%, respectively, through 2033
Growth Outlook by Key Countries
| Countries | Value CAGR |
|---|---|
| United Kingdom | 1.5% |
| Germany | 1.9% |
| France | 2.0% |
| Italy | 1.3% |
| Spain | 2.9% |
| BENELUX | 2.7% |
| Nordics | 1.1% |
| Poland | 2.0% |
| Hungary | 2.4% |
| Romania | 2.8% |
| Czech Republic | 2.2% |
| Rest of Europe | 1.3% |
| Saudi Arabia | 2.2% |
| Egypt | 2.7% |
| Algeria | 3.2% |
| United Arab Emirates | 3.7% |
| Kuwait | 4.2% |
| Jordan | 4.7% |
| Türkiye | 5.2% |
| Iran | 5.7% |
| Morocco | 6.3% |
| Qatar | 6.8% |
| Oman | 7.3% |
| Bahrain | 7.8% |
| Israel | 8.3% |
| Sudan | 8.8% |
| Libya | 9.3% |
| Rest of MENA | 9.7% |
Poland occupied 12.2% of the Europe and MENA generic oncology drug business share in 2022. Over the assessment period, Poland’s generic oncology drug business is set to thrive at a 2.0% CAGR, totaling USD 996.57 million by 2033.
Several factors are expected to boost growth in Poland during the forecast period. These include rising awareness of the benefits of generic oncology drugs, the establishment of new pharmaceutical companies, the growing popularity of targeted therapies, and advancements in the cancer treatment drug sector.
The strategic geographical location of Poland in Europe further enhances its attractiveness as a base for pharmaceutical companies seeking access to both Eastern and Western regions. This will positively impact the overall growth of the target business in Poland.
Pharmaceutical companies find Poland attractive because of its commitment to improving its business and research climate. This is demonstrated by its proposed measures, especially in the field of generic oncology medications.
The country is launching new programs and initiatives to improve its business and research climate. These involve creating clusters of high-tech businesses, encouraging commercial and academic collaboration, and providing funding for research & development and public procurement to encourage research.
Poland is projected to become an even more attractive location for pharmaceutical businesses that specialize in generic oncology drugs as long as it keeps investing in innovation and technology. This presents significant prospects for business growth, which will eventually help patients by expanding access to high-quality, reasonably priced oncology treatments.
The United Kingdom’s generic oncology drug business size is predicted to reach USD 906.54 million by 2033. Over the forecast period, demand for generic oncology drugs in the United Kingdom is expected to rise at a 1.5% CAGR.
Increasing cancer incidence is a primary factor expected to fuel sales of generic oncology drugs in the United Kingdom. Similarly, the growing popularity of biosimilars, favorable government, and rising awareness about the benefits of generic oncology medicines support will likely boost the target business.
In recent years, there has been a spike in cancer across the United Kingdom. For instance, as per the World Cancer Research Fund, around 387,820 cases of cancer were diagnosed in the United Kingdom in 2019. This rise in cancer cases is expected to drive demand for generic oncology drugs.
In the United Kingdom, generic producers are aggressively pursuing opportunities in this evolving landscape. They aim to capture a significant share by offering affordable alternatives to these soon-to-be off-patent drugs, including generic oncology medications.
In 2022, Germany held a significant share of the Europe and MENA generic oncology drug business, with a valuation of USD 617.0 million. For the projection period, a CAGR of 1.9% has been predicted for Germany. By 2033, total generic oncology drug revenue in Germany is set to reach USD 762.27 million.
Multiple factors are expected to drive growth in Germany through 2033. These include rising demand for generic cancer drugs due to their affordability and safety, surging popularity of super generics, and increasing cases of cancer.
Germany, an established country for generic oncology drugs, combines cutting-edge innovation, a rich tradition as the ‘world's pharmacy,’ and a consistently growing demand for healthcare products. With a strong emphasis on pharmaceutical research and development, production, and sales of medicines, the country is set to observe steady growth.
Germany is striving to advance in cancer diagnostics and treatment. For instance, declaring the upcoming ten years to be the ‘National Decade against Cancer,’ the Federal Ministry for Education and Research started implementing plans to give oncology research top priority. This will bode well for the target business.
The below section shows the small molecule segment dominating, based on the molecule. It is forecast to thrive at 1.9% CAGR between 2023 and 2033. By route of administration, the oral segment is expected to generate significant revenue in Europe and MENA. It will likely exhibit a CAGR of 1.5% through 2033. Based on the distribution channel, the retail pharmacies segment is set to lead the target business, thriving at a 1.6% CAGR.
Growth Outlook by Key Molecule
| Molecule | Value CAGR |
|---|---|
| Large Molecule | 2.6% |
| Small Molecule | 1.9% |
Based on the molecule, the small molecule segment held a 73.1% value share in Europe and MENA in 2022, and it will likely retain its dominance through 2033. Demand for small-molecule cancer drugs is predicted to rise at a CAGR of around 1.9% during the assessment period.
Small molecule generic oncology drugs are gaining attention and hold an impressive share due to their cost-effectiveness in manufacturing than biologics. This can help reduce the overall cost of cancer treatment.
Small molecule drugs are easy to manufacture and can be administered orally. This is further making them popular and fueling their demand across regions such as Europe and MENA. Also, their molecular size and complexity enable them to reach target sites easily, resulting in high drug efficacy.
To meet this demand and boost their revenue, key generic oncology drug manufacturers are expected to introduce new small molecule generic cancer drugs through 2033. They will also benefit from the expanding small-molecule injectable business.
Growth Outlook by Key Route of Administration
| Route of Administration | Value CAGR |
|---|---|
| Oral | 1.5% |
| Tablet | 1.3% |
| Capsule | 1.9% |
| Parenteral | 2.7% |
By route of administration, the oral segment held a 54.3% value share in Europe and MENA business at the end of 2022. In the assessment period, the target segment is anticipated to progress at a CAGR of 1.5%.
Oral medication remains the preferable route of drug administration across Europe and MENA. This is because of its advantages, such as better convenience and inexpensive nature.
Oral medications tend to be more readily accepted by patients, which promotes greater adherence to prescribed treatment regimens, ultimately leading to improved health outcomes. As a result, they are in greater demand across regions such as Europe and MENA.
Oral anti-cancer drugs are generally less invasive and cost-effective than parenteral cancer drugs. These advantages are expected to encourage the adoption of oral generic oncology drugs during the forecast period, thereby boosting the target segment.
Growth Outlook by Key Distribution Channel
| Distribution Channel | Value CAGR |
|---|---|
| Hospitals Pharmacies | 2.2% |
| Retail Pharmacies | 1.6% |
| Online Pharmacies | 3.4% |
| Managed Care Institutions | 4.2% |
As per the latest generic oncology drug industry analysis, retail pharmacies remain the most preferred distribution channel for generic oncology drugs across Europe and MENA. The target segment accounted for a revenue share of 60.1% of the total value in 2022.
Over the forecast period, the retail pharmacies segment is expected to demonstrate steady growth with a CAGR of 1.6%. This can be attributed to the rising inclination of cancer patients toward purchasing generic oncology drugs from retail stores.
Retail pharmacies provide a diverse selection of generic alternatives, empowering consumers to reduce their healthcare costs. Moreover, across several nations in Europe, pharmacists are granted the authority to replace brand-name prescriptions with generic counterparts when they are accessible unless a healthcare provider specifies otherwise.
The Europe and MENA generic oncology drug business landscape has evolved into a fiercely competitive arena, with several manufacturers of generic oncology drugs competing for dominance. In their quest for a competitive edge, these stakeholders are actively involved in strategic endeavors. These initiatives encompass new product launches, regulatory approvals, collaborations with healthcare institutions, and the development of combination therapy approaches.
Recent Developments in the Europe and MENA Generic Oncology Drug Business-
| Attribute | Details |
|---|---|
| Estimated Value (2023) | USD 6.7 billion |
| Projected Value (2033) | USD 8.2 billion |
| Anticipated Growth Rate (2023 to 2033) | 2.1% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Industry Analysis | USD billion for Value |
| Key Regions Covered | Europe; and Middle East; and North Africa |
| Key Countries Covered | United Kingdom, Germany, France, Italy, Spain, BENELUX, Nordics, Poland, Hungary, Romania, Czech Republic, Rest of Europe, Saudi Arabia, Egypt, Algeria, United Arab Emirates, Kuwait, Jordan, Türkiye, Iran, Morocco, Qatar, Oman, Bahrain, Israel, Sudan, Libya, rest of Middle East and Africa |
| Key Segments Covered | Molecule, Route of Administration, Distribution Channel, and Region |
| Key Companies Profiled | Cipla; Eli Lilly & Co.; GlaxoSmithKline Plc.; Sanofi S.A.; Teva Pharmaceutical Industries Ltd.; Sun Pharmaceutical Industries Ltd.; Lupin Ltd.; Hikma Pharmaceuticals PLC; Viatris Inc. (Mylan N.V); Johnson & Johnson; Takeda Pharmaceutical Company Limited; AstraZeneca; Bristol Myers Squibb Co.; F.Hoffmann-La Roche Ltd.; Bayer AG; Astellas Pharma; Accord Healthcare; Actero Pharma; HEC Pharm; Aqvida GmbH; MEDICHEM S.A.; Pharco Corporation; Krka; Gedeon Richte |
| Report Coverage | Business Forecast, Competition Intelligence, Key Dynamics and Challenges, Strategic Growth Initiatives |
Sales in Europe and MENA totaled USD 6.5 billion in 2022.
Total revenue is estimated to reach USD 6.7 billion in 2023.
Generic oncology drug sales are set to total USD 8.2 billion in Europe and MENA by 2033.
Demand in Europe and MENA is expected to rise at a 2.1% CAGR through 2033.
The Europe and MENA business grew at a CAGR of 3.7% between 2018 and 2022.
Launch and approval of generic versions of oncology drugs.
Poland, the United Kingdom, Germany, France, and Spain.
The United Kingdom is set to total USD 782.78 million in 2023.
Poland accounted for a moderate CAGR of around 2.0% through 2033.
Sales in Germany are set to rise at a 1.9% CAGR over the forecast period.
Cipla, Eli Lilly & Co., GlaxoSmithKline Plc., and Sanofi S.A. are the top players.
India is the leading producer of generic drugs.
1. Executive Summary 2. Business Overview 3. Key Trends 4. Value-Added Insights 5. Business Background 6. Demand Value or Size (USD billion) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Molecule 7.1. Large Molecule 7.2. Small Molecule 8. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 8.1. Oral 8.1.1. Tablet 8.1.2. Capsule 8.2. Parenteral 9. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 9.1. Hospital Pharmacies 9.2. Retail Pharmacies 9.3. Online Pharmacies 9.4. Managed Care Institutions 10. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. Europe 10.2. MENA 11. Europe Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 12. Middle East & North Africa Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Business Structure Analysis 14. Competition Analysis 14.1. Cipla 14.2. Eli Lilly & Co. 14.3. GlaxoSmithKline Plc. 14.4. Sanofi S.A. 14.5. Teva Pharmaceutical Industries Ltd. 14.6. Sun Pharmaceutical Industries Ltd. 14.7. Lupin Ltd. 14.8. Hikma Pharmaceuticals PLC 14.9. Viatris Inc. (Mylan N.V) 14.10. Johnson & Johnson 14.11. Takeda Pharmaceutical Company Limited 14.12. AstraZeneca 14.13. Bristol Myers Squibb Co. 14.14. F.Hoffmann-La Roche Ltd. 14.15. Bayer AG 14.16. Astellas Pharma 14.17. Accord Healthcare 14.18. Actero Pharma 14.19. HEC Pharm 14.20. Aqvida GmbH 14.21. MEDICHEM S.A. 14.22. Pharco Corporation 14.23. Krka 14.24. Gedeon Richte 15. Assumptions and Acronyms Used 16. Research Methodology
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Generic Oncology Drug Industry Analysis in Europe and MENA
