Oncology/Cancer Drugs Market: Overview
Cancer is a chronic disease
group characterized by uncontrolled cell growth. Breast cancer, lung cancer,
colorectal cancer, cervical cancer, and thyroid cancer are perhaps the most
common types of cancer. The three main types of drugs used for cancer are
cytotoxic drugs, targeted drugs, and hormonal drugs depending on their
mechanism of action. Due to increased drug approvals and the advent of
biosimilar drugs for cancer treatment, the oncology drug market has seen
tremendous growth in the recent past. Increasing spending on cancer treatment
has also led to increased research and development efforts to develop new
highly effective, and least side-effect cancer drugs.
Oncology/Cancer Drugs Market Forecast and Trends
The global market for
Oncology/Cancer Drugs is anticipated to expand at a 7.2% CAGR. An increase in
the incidence of cancer worldwide and a significant increase in government
spending on healthcare services facilitate growth in the global market for
oncology / cancer drugs. Fatal effects on the use of cancer drugs, however,
impede the development of the market. On the other hand, an increase in the
number of pipeline drugs and untapped potential offer lucrative opportunities
in the industry in emerging countries. The key drivers of the global market for
oncology / cancer drugs are an increase in the geriatric population and an
increase in alliances and partnerships to promote the production of medicines.
However, the rise in cancer prevalence and the increase in healthcare spending
have contributed significantly to this market's growth. Rise in the number of
pipeline drugs along with high potential from emerging economies will provide
lucrative market expansion opportunities during the forecast period. However,
adverse drug-related effects hinder the growth of the market.
Rising incidence of cancer
cases across the globe
The increasing burden of
cancer is due to several factors, including population growth and aging, as
well as the changing prevalence of specific cancer causes linked to social and
economic development. Especially true in fast-growing economies, where there is
a change from poverty-related cancers and infections to lifestyle-related
cancers. It directly drives demand for oncology drugs on the global market with
Need for Innovative Drugs
and Target Groups
organizations are involved in the development of drugs that target cancer cells
directly. This factor has recently played a crucial role in the growth of the
global market for oncology/cancer drugs. In contrast, the emphasis on
biological therapy has recently brought massive revenues to the global market
for oncology/cancer drugs.
Adverse effects associated
with the use of cancer drugs
Despite the improved
efficacy and enhanced survival offered by modern treatments, the side effects
and long-term sequelae of anti-cancer chemotherapy remain a significant concern
for both patients and clinicians.
Oncology/Cancer Drugs Market: Drug Class Type
Targeted therapy and
chemotherapy segments together accounted for nearly three-fourths of total
market shares in 2019 based on drug class type, and are expected to maintain
dominance in the cancer drug industry over the forecast period. Conversely, the
section of immunotherapy is predicted to be a witness of lucrative growth due
to higher survival rates and use-related remission.
Oncology/Cancer Drugs Market: Indication
Based on the indication, it
estimated that the lung cancer segment would record a significant rate of
growth from 2020 to 2026 due to a considerable increase in prevalence
worldwide. On the other hand, the segments of kidney, breast, and prostate
cancer together have contributed to the largest segment of total market share
in 2019 and are projected to continue to lead during the forecast period.
Oncology/Cancer Drugs Market: Regional insights
Due to the high adoption
rate of cancer drugs, North America was the leading contributor to the
worldwide market in 2019. However, during the forecast period, Asia-Pacific is
expected to grow due to an increase in disposable income, a rise in research,
development and innovation activities, and an increase in awareness of various
cancers. Asia-Pacific is projected to grow at the highest rate, accompanied by
North America, from 2019 to 2026. Due to a vast population base and modern
health care facilities. North America and Europe accounted for almost
three-fourths of total market share in 2019 and will continue to dominate by
2026 due to the increased awareness of advanced therapies, sedentary growth in
lifestyle, and ease of access to premiere chemotherapy treatments.
objective of the Study:
To analyze and forecast the global
Oncology/Cancer Drugs market size of the market in terms of value.
To examine the careful market segmentation
and forecast the market size, in terms value, based on the region by segmenting
the Global Oncology/Cancer Drugs market into five regions, namely, North
America, Europe, Asia Pacific, Middle East & Africa and South America.
To outline, categorized, and forecast the
global Oncology/Cancer Drugs market based on the drug class type and
· To examine competitive developments like technological
advancement, services, and regulative framework within the global
Oncology/Cancer Drugs Market.
· To highlight the impact analysis of the
factors affecting the market dynamics such as drivers, restraints,
opportunities, and challenges.
· To strategically profile the key players and
comprehensively analyze their market shares along with detailing the
competitive landscape for market leaders.
of the Report
By Class Type
Immunotherapy (Biologic Therapy)
Asia Pacific (APAC)
Middle East & Africa
Astellas Pharma, Inc.
Bristol-Myers Squibb Company
F. Hoffmann-La Roche Ltd.
Johnson & Johnson (Janssen Global
Merck & Co., Inc.
Other Prominent Players
Questions Answer by the Report
How will the market drivers, restraints, and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region,
and one will be the fastest-growing, and why?
A comprehensive survey of the competitive
landscape and the market participant players
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
Client satisfaction is our
first and last priority, and that’s why BlueWeave Consulting offers
customization according to Company’s specific needs. The following
customization options are available for the report:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis