BioSpectrum Asia Feb 2023
CANCER THERAPEUTICS GAINING GROUND IN APAC
Cancer, the leading cause of death in most parts of the world, is a veritable Achilles heel for the pharma industry. Not surprising that pharma companies continue to dedicate a significant part of their R&D budget for Oncology. Cancer medicine spending rose to $185 billion globally in 2021 and is expected to reach more than $300 billion by 2026, as per IQVIA. China’s oncology spending now exceeds the rest of emerging countries and is driven by expanded access to new therapies
and offset by lower prices. Chinese and other Asian cancer drug developers are at the forefront of driving innovation in this space. The focus of cancer treatment is rapidly shifting from a traditional one-size-fits-all approach to precision medicine, tailored treatments for individual patients. The next wave of innovations making headlines in the cancer space include immunotherapies, vaccines, CAR-T therapies, PD-1/L1 inhibitors, light-activated drugs etc. Many drug makers in Asia are investing in new science and hope to develop the next holy grail in oncology. Let’s take a deep dive into the status of cancer drug research and development in the Asia Pacific (APAC).
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