India Cancer Treatment Market Size Expanding at Significant CAGR of 8% to Touch USD 5.9 Billion by 2030

Published | 10 April 2024

India Cancer Treatment Market is growing due to the rising burden of cancer, growing awareness about cancer, government’s initiatives to improve cancer care, and growing adoption of advanced technologies.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Cancer Treatment Market size by value at USD 4.21 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Cancer Treatment Market size to expand at a CAGR of 8% reaching a value of USD 5.89 billion by 2030. The Cancer Treatment Market in India is propelled by increasing rate of cancer cases, with an estimated 1.39 million cases in 2020 and over 0.8 million deaths in 2019, posing a significant public health concern. Notably, cervical cancer claims one woman's life every 8 minutes, and breast cancer mortality remains high. The surge in tobacco consumption further exacerbates cancer fatalities. Factors contributing to rising cases include dietary changes, food adulteration, and environmental factors. Sedentary lifestyles and junk food consumption also contribute to increasing cancer incidences. It underscores the pressing need for timely diagnosis and preventive care, driving substantial investments in R&D to develop more effective drugs. The Indian market offers growth opportunities for venture capitalists and investors, given the saturation of developed markets in the cancer treatment industry.

Opportunity – Increasing Popularity for Ayurveda-based Cancer Medication and Therapies

The Indian government has undertaken various initiatives to promote research in Ayurveda and the advancement of cancer treatments. The Central Council for Research in Ayurvedic Sciences (CCRAS), an independent organization established by the government, has been actively engaged in cancer research, drug development, and documenting medical procedures. AYUSH QOL2C, developed by CCRAS, aims to improve the quality of life for cancer patients. Consequently, Ayurveda-based medications are poised to offer promising opportunities for industry players during the forecast period.

Impact of Escalating Geopolitical Tensions on India Cancer Treatment Market

Geopolitical tensions can have a multifaceted impact on the India Cancer Treatment Market. Uncertainties arising from geopolitical conflicts may disrupt the supply chain of crucial medical equipment, drugs, and resources necessary for cancer treatment. Additionally, heightened tensions may lead to economic instability, affecting healthcare budgets and investment in medical infrastructure and research. Import restrictions and trade barriers resulting from geopolitical conflicts can further exacerbate the situation, limiting access to essential cancer treatment technologies and medications. Overall, escalating geopolitical tensions pose significant challenges to the India Cancer Treatment Market, potentially impeding access to vital healthcare services for cancer patients.

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India Cancer Treatment Market

Segmental Coverage

India Cancer Treatment Market – By Cancer Type

On the basis of cancer type, the India Cancer Treatment Market is divided into Blood Cancer, Breast Cancer, Colorectal Cancer, Cervical Cancer, Prostate Cancer, Gastrointestinal Cancer, Gynecologic Cancer, Non-Hodgkin’s Cancer, and Respiratory/ Lung Cancer segments. The breast cancer segment holds the highest share in the India Cancer Treatment Market by cancer type. Breast cancer stands as a prevalent global and Indian health concern, exacerbated by insufficient awareness. Oncologists emphasize the importance of cancer literacy, particularly among women aged 40 to 60, advocating for regular screening to enable early detection and effective treatment. Meanwhile, the cervical cancer holds the highest share in the India Cancer Treatment Market by cancer type. It often linked to Human Papillomavirus (HPV) infection, affects 12% of Indian women, while oral cancer constitutes 7% of annual new cancer diagnoses. This underscores the necessity for heightened awareness campaigns and proactive screening initiatives to combat the rising incidence rates of these cancers and ensure timely interventions for improved patient outcomes.

Competitive Landscape

The India Cancer Treatment Market is fragmented, with numerous players serving the market. The key players dominating the India Cancer Treatment Market include Bayer, Astellas Pharma Inc., F. Hoffmann-La-Roche, Pfizer Limited, Natco Pharma, Novartis AG, Amgen, Merck KGaA, Siemens Healthineers, Bristol-Myers Squibb Company, Pinnacle Life Science Pvt. Ltd, and Takeda Pharmaceuticals. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

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The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Cancer Treatment Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Cancer Treatment Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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