Community Oncology Services Global Market Report 2024

The community oncology services market size has grown rapidly in recent years. It will grow from $53.79 billion in 2023 to $60.31 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth observed in the historical period can be attributed to increased healthcare expenditure, the rapid expansion of the elderly population, and reforms in health insurance.

The community oncology services market size is expected to see rapid growth in the next few years. It will grow to $89.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. Projected growth in the forecast period is driven by increased healthcare expenditure, the rapid growth of the elderly population, and health insurance reforms. Key trends include a focus on providing telehealth services, escalating investments, fostering partnerships and collaborations, developing individualized service plans, embracing technological advancements, and engaging in mergers and acquisitions.

The demand for community oncology services is expected to surge due to the cost-effectiveness offered by these centers compared to hospital-based care. Community oncology centers provide cancer care services at a notably lower cost per patient per month than hospital-based clinics, as revealed in a report by the Community Oncology Alliance. The cost of cancer care, including chemotherapy treatment, in community-based clinics proves to be significantly more affordable, approximately $12,000 per patient per month compared to about $20,000 in hospital-based oncology clinics. This cost discrepancy is anticipated to fuel the growth of the community oncology services market in the foreseeable future.

The growth of the community oncology services market is further propelled by the increasing demand for chemotherapy treatments. Chemotherapy, a systemic cancer treatment targeting rapidly dividing cells, remains a crucial aspect of cancer care, necessitating comprehensive oncology services. With the rising need for chemotherapy expected to escalate from 10 million to 15 million by 2040, as reported by Healthcare IT News in February 2022, the significance of oncology services in providing comprehensive care is evident. This surge in chemotherapy demand is a significant driver of growth for the community oncology services market.

Major corporations in the community oncology services sector are actively engaging in acquisitions and research collaborations to broaden their service portfolios and offerings. In April 2023, TPG, a US-based private equity firm, and AmerisourceBergen Corporation, a US-based wholesaler, jointly acquired OneOncology for a sum of 2.1 billion dollars. This acquisition reinforces TPG and AmerisourceBergen's foothold in the specialty practice network and augments their solutions within the oncology realm. OneOncology, a US-based entity, focuses on revolutionizing the patient experience while addressing the challenges encountered in community oncology, positioning itself as a leader in cancer care advancement.

Prominent entities in the community oncology services sector are significantly investing in cancer drugs to fortify the battle against cancer. These corporate investments in oncology services serve as a crucial link between delivering high-quality cancer care and sustainable healthcare solutions. Notably, in March 2023, Pfizer, a US-based pharmaceutical powerhouse, merged with Seagen, a US-based biotechnology company, and committed an investment of $43 billion to combat cancer. This strategic move bolsters Pfizer's presence in the oncology domain, intensifying the fight against cancer, a prominent global cause of mortality.

In October 2021, Anova Enterprises, Inc., a US-based healthcare technology company, entered into a partnership with OPN Healthcare, a US-based community oncology company. As part of the collaboration, Anova will provide funding for the expanding OPN Healthcare research program. Additionally, all practices within the OPN network will continue to utilize the AnovaOS technology platform, enhancing patient access to experimental medicines.

Major companies operating in the community oncology services market report are The US Oncology Network, OneOncology, Florida Cancer Specialists & Research Institute (FCS), The Oncology Institute, Community Care Physicians, P.C. (CCP), GenesisCare, CStone Pharma, CARsgen Therapeutics, JW Therapeutics, BeiGene, Nanjing Legend Pharmaceutical & Chemical Co., Ltd., Zai Labare, Taxane HealthCare Pvt Ltd., Getwell Oncology, Novartis Oncology, Celgene, Johnson & Johnson, Janssen Pharma, Pharmacyclics, Healthkind Labs Pvt Ltd., Arlak Biotech, SwisscheM Healthcare Pvt Ltd., Apikos Pharma, Kolaz Biotech, Quironsalud Proton Therapy Centre, The London Clinic England, Institut Gustave Roussy, Netherlands Cancer Institute, European Medical Center, Yauza Medical Center, Celon Pharma, Nebraska Cancer Specialists, Tufts Medical Center, Doctors Medical Center, Oncology Specialists SC, Baptist Cancer Center, Mayo Clinic, Cleveland Clinic, Fred Hutchinson Cancer Research Center, The University of Texas Southwestern Medical Center, Abramson Cancer Center, McKesson Corporation , TUTEUR Argentina, Takeda Pharmaceutical Company Limited, Pierre Fabre Group, Celnova Pharma , King Hussein Cancer Center (KHCC), Princess Noorah Oncology Center (PNOC), King Abdulaziz Medical City, King Faisal Specialist Hospital and Research Centre, King Fahd Specialist Hospital, Prince Sultan Medical Military City, King Saud Medical City, King Abdullah Medical City, Tawam Hospital , Icon Oncology, Eurolab Science Laboratuvar, Yemaachi Biotechnology, Regal Pharmaceuticals Limited, Ocean Road Cancer Institute.

North America was the largest region in the community oncology services market in 2023. Western Europe was the second largest region in the global oncology services market. The regions covered in the community oncology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the community oncology services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Primary types of community oncology services are small, medium, and large clinics. Small clinics typically consist of a single oncologist, one office, and a support staff including physician extenders, nurses, pharmacists, pharmacy technicians, and others. Cancers treated include breast, lung, kidney, liver, ovarian, prostate, skin, pancreatic, blood, colorectal, and others, involving therapies such as medical oncology, radiation oncology, surgical oncology, and more.

The community oncology services market research report is one of a series of new reports that provides community oncology services market statistics, including community oncology services industry global market size, regional shares, competitors with a community oncology services market share, detailed community oncology services market segments, market trends and opportunities, and any further data you may need to thrive in the community oncology services industry. This community oncology services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The community oncology services market includes revenues earned by entities by providing diagnostic, corrective and preventive treatment services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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