Leading 20 cancer drugs to generates sales of $1 billion in Australia by 2018; says Datamonitor study

Australia's oncology market's high value and growth opportunities have made it an attractive arena for drug developers to enter. The Top-20 cancer therapy brands sales totaled $545 million in Australia in 2008, growing at a compound annual growth rate (CAGR) of 30% since 2005, according to a new report by independent market analyst firm Datamonitor.

Although this growth is expected to slow down considerably during the next 10 years, mainly due to maturing markets and the entry of generic products, revenues are expected to reach $1 billion in 2018, the study notes.

Cancer therapy brands are divided into three main drug classes: molecular targeted therapies, cytotoxic therapies and anti-hormonal treatments. The molecular targeted therapies were the leading class of cancer treatment in the Top-20 in Australia with sales of $320 million in 2008. The class has been responsible for most of the overall growth seen between 2005 and 2008, driven by the increased uptake of high-priced products and a lack of generic competition.