The global oncology-cancer drugs market was valued at $167.0 billion in 2023, and is projected to reach $335.2 billion by 2033, growing at a CAGR of 7.2% from 2024 to 2033.
The oncology/cancer drugs encompass pharmaceuticals specifically designed to diagnose, treat, and manage various types of cancer. These drugs target cancerous cells or interfere with processes involved in cancer growth and spread. It includes a wide array of therapeutic approaches, ranging from traditional chemotherapy to more targeted therapies like immunotherapy and precision medicine.
The global oncology-cancer drugs market is driven by rise in incidence of cancer globally due to aging population, lifestyle changes, and environmental exposures, which drives the demand for innovative therapies. This growing patient population highlights the need for continuous R&D efforts to address diverse cancer types and unmet medical needs. Furthermore, progress in the field of science and technology, specifically in disciplines such as molecular biology, genomics, and immunotherapy, are propelling substantial advancements in the development of cancer drugs. The rise of precision medicine strategies, which focus on specific molecular abnormalities that fuel cancer progression, is becoming increasingly prominent. This has resulted in the creation of more potent and less harmful therapies, fueling growth in the oncology drugs market.
However, high development costs of oncology drugs are extensive and costly, often requiring significant investments in preclinical studies, clinical trials, and regulatory approvals which limit the adoption of cancer drugs. Nevertheless, approval from regulatory authorities associated with new treatments and drugs is expected to create several opportunities for the market players. For instance, in October 2023, the U.S. Food and Drug Administration (FDA) approved several new treatments for a range of cancers over the summer. In July, the FDA approved a new indication for Jemperli (dostarlimab) in endometrial cancer.
Segmentation Overview
The oncology-cancer drugs market is segmented into drug class type, indication, and region. Depending on drug class type, the market is categorized into chemotherapy, targeted therapy, immunotherapy (biologic therapy), and hormonal therapy. According to indication, it is divided into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer, and other cancers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
Depending on drug class type, the targeted therapy segment held the largest market share in 2023.
By indication, the breast cancer segment accounted for the highest share in the market in 2023.
Region wise, North America dominated the oncology-cancer drugs market in 2023.
Competitive Scenario
The major players operating in the oncology/cancer drugs market include AbbVie Inc., Amgen, Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novartis AG, and Pfizer Inc. Other players in oncology/cancer drugs market includes Bayer AG, Regeneron Pharmaceuticals Inc., and Eli Lilly and Company. These players have adopted several strategies, including partnerships, collaborations, and R&D to maintain their position in the competitive market.
The oncology/cancer drugs encompass pharmaceuticals specifically designed to diagnose, treat, and manage various types of cancer. These drugs target cancerous cells or interfere with processes involved in cancer growth and spread. It includes a wide array of therapeutic approaches, ranging from traditional chemotherapy to more targeted therapies like immunotherapy and precision medicine.
The global oncology-cancer drugs market is driven by rise in incidence of cancer globally due to aging population, lifestyle changes, and environmental exposures, which drives the demand for innovative therapies. This growing patient population highlights the need for continuous R&D efforts to address diverse cancer types and unmet medical needs. Furthermore, progress in the field of science and technology, specifically in disciplines such as molecular biology, genomics, and immunotherapy, are propelling substantial advancements in the development of cancer drugs. The rise of precision medicine strategies, which focus on specific molecular abnormalities that fuel cancer progression, is becoming increasingly prominent. This has resulted in the creation of more potent and less harmful therapies, fueling growth in the oncology drugs market.
However, high development costs of oncology drugs are extensive and costly, often requiring significant investments in preclinical studies, clinical trials, and regulatory approvals which limit the adoption of cancer drugs. Nevertheless, approval from regulatory authorities associated with new treatments and drugs is expected to create several opportunities for the market players. For instance, in October 2023, the U.S. Food and Drug Administration (FDA) approved several new treatments for a range of cancers over the summer. In July, the FDA approved a new indication for Jemperli (dostarlimab) in endometrial cancer.
Segmentation Overview
The oncology-cancer drugs market is segmented into drug class type, indication, and region. Depending on drug class type, the market is categorized into chemotherapy, targeted therapy, immunotherapy (biologic therapy), and hormonal therapy. According to indication, it is divided into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer, and other cancers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
Depending on drug class type, the targeted therapy segment held the largest market share in 2023.
By indication, the breast cancer segment accounted for the highest share in the market in 2023.
Region wise, North America dominated the oncology-cancer drugs market in 2023.
Competitive Scenario
The major players operating in the oncology/cancer drugs market include AbbVie Inc., Amgen, Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novartis AG, and Pfizer Inc. Other players in oncology/cancer drugs market includes Bayer AG, Regeneron Pharmaceuticals Inc., and Eli Lilly and Company. These players have adopted several strategies, including partnerships, collaborations, and R&D to maintain their position in the competitive market.
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Key Market Segments
By Drug Class
- Chemotherapy
- Targeted Therapy
- Immunotherapy (Biologic Therapy)
- Hormonal Therapy
By Indication
- Lung Cancer
- Stomach Cancer
- Colorectal Cancer
- Breast Cancer
- Prostate Cancer
- Liver Cancer
- Esophagus Cancer
- Cervical Cancer
- Kidney Cancer
- Bladder Cancer
- Other Cancers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
- AbbVie Inc.
- Amgen
- Astellas Pharma Inc.
- AstraZeneca plc
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: ONCOLOGY-CANCER DRUGS MARKET, BY DRUG CLASS
CHAPTER 5: ONCOLOGY-CANCER DRUGS MARKET, BY INDICATION
CHAPTER 6: ONCOLOGY-CANCER DRUGS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
Key Market Players in the Oncology-Cancer Drugs Market include:- AbbVie Inc.
- Amgen
- Astellas Pharma Inc.
- AstraZeneca plc
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | July 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 167 billion |
| Forecasted Market Value ( USD | $ 335.2 billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
