Global market expected to drive cancer drug growth

“Oncology is the top of the bill when it comes to new products in development”

The global market for cancer drugs will grow twice as fast as that for all other pharmaceuticals as the developing world spends more on health care, a new report says.

China, Brazil, Russia and other emerging countries are becoming bigger customers for pharmaceuticals as they invest more in treating and diagnosing cancer, according to a report issued Thursday by IMS Health.

The health care research firm expects pharmaceutical spending in countries such as India, Mexico and Turkey to grow by 12 to 13 percent over the next 15 years, compared with single-digit growth for more developed nations. Read more