- +1-315-215-1633
- sales@thebrainyinsights.com
The global Oncology/Cancer Drugs market generated USD 146.72 billion revenue in 2022 and is projected to grow at a CAGR of 7.83% from 2023 to 2032. The market is expected to reach USD 311.81 billion by 2032. The expansion of the market is propelled by a rise in the prevalence of cancer diseases and an increase in the incidence of different cancer diseases. The growing demand for advanced therapies, such as targeted and biological drug therapies, and a significant increase in the global geriatric population further contribute to this growth. Additionally, the heightened awareness of cancer and the early screening of the disease also play pivotal roles in fostering the development of the oncology drugs market.
Cancer drugs, also known as oncology drugs, are medications specifically formulated to diagnose, treat, and manage various types of cancer. These drugs play a critical role in oncology by targeting and preventing cancer cell growth, inhibiting their ability to divide and spread. The development of cancer drugs involves rigorous research and clinical trials to secure their safeness and effectiveness in treating specific types of cancer. Cancer drugs can take various forms, including chemotherapy, targeted therapy, immunotherapy, hormone therapy, and other emerging therapies. Chemotherapy involves using drugs that kill or inhibit the evolution of rapidly dividing cells, including cancer cells. Targeted therapy focuses on specific molecules involved in cancer growth, aiming to block these targets to prevent the spread of cancer. Immunotherapy harnesses the body's immune system to recognize and attack cancer cells. Hormone therapy is used to interfere with hormones that fuel certain types of cancer. The landscape of cancer drugs is continually evolving as researchers discover new molecular targets and develop innovative treatment approaches. The goal is to improve the efficacy of treatments while minimizing side effects and improving the overall quality of life for people undergoing cancer therapy. The development and availability of effective cancer drugs represent significant progress in the ongoing fight against cancer, contributing to better outcomes and increased survival rates for many patients.
Get an overview of this study by requesting a free sample
Increasing Cancer Cases - The rising incidence of cancer cases globally is a major driver for the oncology drugs market. Ageing populations and lifestyle factors contribute to the increasing incidence of various types of cancers.
Advancements in Research and Development - Ongoing research and development efforts in oncology contribute to discovering new drugs and therapies. Advances in genomics, personalized medicine, and targeted therapies have improved treatment outcomes.
Increasing Awareness and Early Diagnosis - A growing understanding of cancer symptoms and the significance of early diagnosis has led to more patients seeking medical attention at earlier stages. This trend drives the demand for effective cancer treatments.
High Cost of Cancer Treatments - The cost of cancer drugs and therapies is often high, leading to a financial burden for patients and healthcare systems. Affordability issues can limit access to these treatments.
Adverse Effects and Toxicity - Many cancer drugs are associated with significant side effects and toxicities. Balancing the benefits of treatment with potential adverse effects poses challenges for both patients and healthcare providers.
Technological Innovations - Continued technological advancements, such as using artificial intelligence in drug discovery and development, provide opportunities for more efficient and targeted approaches to cancer treatment.
Advancements in Immunotherapy - Immunotherapy, including CAR-T cell therapies and checkpoint inhibitors, presents a significant opportunity for innovative cancer treatments. Ongoing research and development in this area may lead to breakthrough therapies.
Personalized Medicine and Biomarker Discovery - Advances in genomics and biomarker discovery offer opportunities for personalized medicine approaches. Tailoring treatments based on individual patient profiles can enhance efficacy and reduce side effects.
Stringent Regulatory Requirements - Stringent regulatory processes and requirements for drug approval can lead to delays in bringing new cancer drugs to market, affecting timely patient access to innovative therapies.
Drug Resistance - The development of resistance to cancer drugs is a persistent challenge. Tumors can evolve and become resistant to treatments, limiting the long-term efficacy of certain therapies.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most prominent global Oncology/Cancer Drugs market, with a 42.17% market revenue share in 2022.
North America, particularly the United States, has a robust pharmaceutical research and development infrastructure. The presence of leading research institutions, academic centres, and pharmaceutical companies fosters innovation in cancer drug development. The United States and Canada allocate substantial resources to healthcare, including cancer research and drug development. Significant investment in biotechnology and pharmaceutical industries has propelled the region to the forefront of oncology advancements. Furthermore, North America conducts many global clinical trials, attracting pharmaceutical companies worldwide. The well-established clinical trial infrastructure accelerates the testing and approval of new cancer drugs. Additionally, the regulatory framework in North America, particularly the FDA, is considered stringent yet efficient. A transparent and predictable regulatory environment facilitates the approval and commercialization of oncology drugs. Europe had the second-highest market share in 2022. European countries generally have well-developed healthcare infrastructures, ensuring access to advanced cancer diagnostics and treatments. This infrastructure supports the effective delivery of oncology drugs to patients. In addition, European governments allocate significant funding to healthcare research, including oncology. Public-private partnerships and government support for cancer research initiatives contribute to the region's role in the global oncology market. Besides, Europe benefits from a highly skilled and diverse medical, research, and drug development workforce. The availability of talent contributes to the region's success in oncology research.
North America Region Oncology/Cancer Drugs Market Share in 2022 - 42.17%
www.thebrainyinsights.com
Check the geographical analysis of this market by requesting a free sample
The drug class type segment is classified into chemotherapy, hormonal therapy, immunotherapy, targeted therapy and others. The targeted therapy segment dominated the market, with a share of around 53.24% in 2022. Targeted therapies specifically target cancer cells while minimizing damage to healthy cells. This precision allows for a more targeted attack on the underlying mechanisms of cancer, enhancing efficacy and reducing side effects. In addition, compared to traditional chemotherapy, which affects rapidly dividing cells throughout the body, targeted therapies are often associated with fewer and milder side effects. This characteristic enhances the quality of life for cancer patients undergoing treatment. Targeted therapy aligns with personalized medicine, tailoring treatments based on the patient's characteristics and cancer. This approach allows for more effective and customized treatment plans.
The indication segment is split into breast cancer, bladder cancer, colorectal cancer, head & neck cancer, lungs cancer, liver cancer, prostate cancer and others. The breast cancer segment dominated the market, with a share of around 24.36% in 2022. Breast cancer is one of the most typically diagnosed cancers globally, impacting a large number of people. Its high incidence contributes to a substantial market for oncology drugs. Additionally, increased awareness campaigns and emphasis on early detection through screenings have led to more cases being diagnosed at earlier, more treatable stages. This trend has heightened the demand for effective breast cancer treatments. Further, the treatment of breast cancer often involves a combination of surgery, radiation therapy, and systemic therapies, including hormonal therapy, chemotherapy, and targeted therapies. The diversity of treatment options contributes to a robust market for cancer drugs.
The dosage form segment is divided into injectable, liquid and solid. The injectable segment dominated the market, with a share of around 62.44% in 2022. Injectable forms allow for precise dosing, which is critical in cancer treatment where accurate drug delivery is essential. This precision helps achieve optimal therapeutic effects while minimizing the risk of underdosing or overdosing. Injectable cancer drugs often offer a quicker onset of action compared to oral formulations. This factor is especially crucial in cancer care, where rapid and targeted intervention is necessary to control tumour growth and manage symptoms. Besides, injectable drugs can have higher bioavailability than oral formulations, as they bypass the digestive system and directly enter the bloodstream. This characteristic is advantageous for achieving therapeutic drug levels in the body.
The distribution channel segment includes hospital pharmacies, retail pharmacies and online pharmacies. The hospital pharmacies segment dominated the market, with a share of around 41.85% in 2022. Cancer treatment often involves complex and multidrug regimens, including chemotherapy, targeted therapies, and immunotherapies. Hospital pharmacies are well-equipped to manage and dispense these intricate treatment plans. Many cancer drugs, especially chemotherapy agents, are administered intravenously. Hospital pharmacies have the facilities and expertise to prepare and administer intravenous drugs, ensuring patient safety. Furthermore, some oncology drugs have specific compounding requirements, such as sterile compounding for injectable medications. Hospital pharmacies adhere to stringent compounding standards to meet the unique needs of cancer patients.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 146.72 Billion |
| Market size value in 2032 | USD 311.81 Billion |
| CAGR (2023 to 2032) | 7.83% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Drug Class Type, Indication, Dosage Form, and Distribution Channel |
As per The Brainy Insights, the size of the oncology/cancer drugs market was valued at USD 146.72 billion in 2022 to USD 311.81 billion by 2032.
The global oncology/cancer drugs market is growing at a CAGR of 7.83% during the forecast period 2023-2032.
North America became the largest market for oncology/cancer drugs.
Increasing cancer cases, awareness, and early diagnosis drives the market's growth.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Oncology/Cancer Drugs market based on below-mentioned segments:
Global Oncology/Cancer Drugs Market by Drug Class Type:
Global Oncology/Cancer Drugs Market by Indication:
Global Oncology/Cancer Drugs Market by Dosage Form:
Global Oncology/Cancer Drugs Market by Distribution Channel:
Global Oncology/Cancer Drugs Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.
Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date
