Home > Pharmaceuticals > Oncology Cancer Drugs Market Growth, Demand, Forecast to 2030
Straits Research

Oncology Cancer Drugs Market

Oncology Cancer Drugs Market: Information by Type (Chemotherapy, Targeted Therapy, Immunotherapy), Indication (Lung Cancer, Stomach Cancer), and Region — Forecast till 2030

Table of Content Download Sample

Market Overview

The global oncology cancer drugs market size was valued at USD 148,050.6 million in 2021. It is expected to reach USD 288,636.6 million by 2030, growing at a CAGR of 7.7% during the forecast period (2022–2030). Cancer is characterized by the unchecked proliferation of abnormal cells throughout the body. Cancer develops when the body's normal control system breaks down and cannot stop the growth of abnormal cells. Older cells do not pass away in this condition but continue to divide uncontrollably, creating new aberrant cells.

Chemotherapy, hormonal therapy, immunotherapy, targeted therapy, and targeted therapy are all types of treatment that may be utilized in combating cancer in patients. Biological drugs constructed from monoclonal antibodies (mAbs), abbreviated as an abbreviation for biological drugs, have emerged as a preferred option for treating various types of cancer. Critical factors in the global oncology/cancer drugs market are:

  • The rise in the incidence of various cancer conditions.
  • The popularity of advanced therapies (such as biological and targeted drug therapies) has increased.
  • The surge in the population of older adults around the world.

In addition, an increase in cancer awareness, early cancer screenings, and the availability of cancer drugs are anticipated to boost the market growth.

Patients with lung cancer, bone cancer, and other forms of cancer frequently utilize medications, including morphine, fentanyl, acetaminophen, nonsteroidal anti-inflammatory medicines (NSAIDs), and others to alleviate cancer pain. The amount of money spent on drugs meant to lessen the misery brought on by cancer has increased in tandem with the rapid rise in the number of new cancer cases being diagnosed globally. An increase in cancer occurrence is anticipated to boost the market's expansion.

Market Snapshot

market snapshot
Base Year
: 2021
Study Period
: 2020-2030
: 7.7 %
Fastest Growing Market
: Europe
Largest Market
: North America
Market Size
: USD 288,636.6 million by 2030
Get more information on this report Download Sample Report

Market Dynamics

Global Oncology Cancer Drugs Market Drivers

Increasing Number of People Diagnosed with Cancer to Foster Market Growth

Drugs such as morphine, fentanyl, acetaminophen, nonsteroidal anti-inflammatory drugs (NSAIDs), and others are used extensively in treating cancer pain in patients with lung cancer, bone cancer, and other types of cancer. As a result of the sharp uptick in the number of new cancer cases being diagnosed worldwide, there has been a concomitant increase in the amount of money spent on medications intended to alleviate the suffering caused by cancer. There is an expectation that the market's growth will be fueled by an increase in the prevalence of cancer.

Rapidly Growing Elderly Population to Positively Share Industry Outlook

Compared to younger age groups, the global population is expanding at a faster rate than ever before. According to the report titled "Aging in the United States," published by the Population Reference Bureau, "the number of Americans aged 65 and older is projected to increase more than double over 95 million by the year 2060, and it is expected to rise to approximately 23 percent from 16 percent. The American Cancer Society Journal estimates that approximately 140,690 people in the United States are diagnosed with cancer each year and that 103,250 people pass away from cancer each year. In addition, the World Health Organization (WHO) cites cancer as the second leading cause of death worldwide. An increase in the elderly population is anticipated to drive the demand for drugs used in cancer management, which will, in turn, boost the market's growth.

  • Increased use of tobacco

One of the main causes of cancer worldwide is tobacco. Cancer of the larynx, throat, kidney, colon, rectal, esophagus, and mouth is also caused by it. Over 1.3 billion people smoke tobacco, according to WHO. In addition, tobacco use causes about 8 million deaths annually, of which 1.8 million deaths from lung cancer were due mostly to tobacco use. Additionally, a WHO analysis notes that between 2000 and 2018, there were 40 million more male smokers. So there would be a sharp increase in the different cancers and increased cigarette use. As a result, the industry would flourish more quickly.

Global Oncology Cancer Drugs Market Restraints

Undesirable Side Effects of Cancer Medications to Hinder Market Growth

Drugs used in chemotherapy kill rapidly dividing cells, but their use can have unintended consequences because they cannot tell healthy cells from cancerous cells. The most common adverse effect of anti-cancer drugs is damage to blood-forming cells in the bone marrow, which can ultimately result in anemia. The hair follicles become damaged, which eventually results in a loss of hair. Nausea, constipation, problems with fertility, shifts in libido, and other symptoms are some of the more serious adverse reactions resulting from taking these medications. In addition, side effects of drugs used to treat head and neck cancer include rashes, itching, a loss of weight, sores in the mouth, and problems with the nerves and muscles, including numbness, pain, tingling, and other symptoms. As a result, the development of the global market is hampered by the severe adverse effects of consuming cancer medications.

High capital cost

The significant capital expenditures required for R&D and the time it takes for medications to receive approval are the main obstacles to entry, and long-term sustained development in the market.

Global Oncology Cancer Drugs Market Opportunities

High Growth Potential in Emerging Economies to Spur Market Opportunities

The United States of America and Europe comprise the most extensive customer base for cancer drugs in the current scenario. Because approximately sixty percent of the world's population resides in Asia and the Pacific, this region holds great potential for expanding the market. In addition, the widespread use of tobacco in Asian countries like India, which contributes to the development of a variety of cancers, including cancer of the oral cavity and cancer of the larynx, amongst others, is a factor in the growth of these diseases in these regions.

In addition, developing countries in Asia-Pacific and LAMEA are forecast to experience significant growth in the not-too-distant future. This is anticipated due to a surge in healthcare infrastructure, an increase in affordability, and a rise in awareness regarding the importance of early cancer diagnosis for various cancers, including oral cancer. As a result, these factors are anticipated to present significant opportunities for expanding the market in developing countries. In addition, the industry of healthcare is growing at a considerable rate in emerging economies. This is a result of an increase in demand for advanced healthcare services, significant investments made by the governments of various countries to improve healthcare infrastructure, and the growth of the medical tourism industry in emerging countries. Thus, it is anticipated that the market for cancer drugs will experience opportunities for potential growth brought about by all of these factors.

Growing focus on R&D

Cancer patients are treated with the hopes of curing the illness, extending life, and enhancing the quality of life. Immune cells are crucial to the development of tumors. Therefore, activating immune responses against malignancies is a desirable therapeutic and preventative approach. Therefore, leading market players are investing in immunotherapy research and development to treat a variety of cancers. For instance, in March 2019, the National Cancer Center Japan and FUJIFILM Corporation jointly announced the start of a research effort for novel cancer immunotherapy employing a liposome formulation.

Due to its success in terms of effective treatment that leads to better patient outcomes, immunotherapy is more widely used nowadays. Consequently, this promotes market expansion.

Segmental Analysis

The global market for oncology cancer drugs has been divided into type and indication.

By Drug Class Type

Based on the drug class type, the global oncology cancer drugs market has been categorized into chemotherapy, targeted therapy, immunotherapy (biologic therapy), and hormonal therapy.

The targeted therapy segment is the highest contributor to the market and is estimated to grow at a CAGR of 8.2% during the forecast period. The discovery of molecular targets expressed by cancer cells is mainly responsible for the rapid expansion of the use of targeted therapy. There are a variety of targeted therapies that have been given the green light for use in cancer treatment. These treatments include hormone therapies, signal transduction inhibitors, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, immunotherapies, and toxin delivery molecules. Bevacizumab (brand name: Avastin), everolimus (Afinitor), sunitinib (brand name: Sutent), imatinib (brand name: Gleevec), and a few others fall into this category.

In addition, the significant investments made by pharmaceutical companies in the research and development of biologically targeted drugs are fueling the expansion of the market. Recent developments in technology have made it possible for researchers to zero in on the molecular targets that cancer cells use. Because of this increased understanding of how cancer spreads, therapeutic agents have been developed that can specifically target tumor cells while preventing damage to healthy cells. These agents have been successful in treating cancer. Due to antibodies' high target specificity, most research efforts have concentrated on developing mAbs as potential targeted drug therapies.

The second-largest segment of immunotherapy (biologic therapy) is expected to grow by 2030 at a CAGR of 9.98% during the forecast period. Immunotherapy is one of the most recent developments in cancer treatment, and it is one of the factors that has contributed to the overall effectiveness of cancer treatment. This approach to therapy is predicated on the widely held belief that the immune system is one of the essential weapons in the fight against a wide variety of illnesses. Researchers have developed numerous methods to use immunotherapeutics to treat cancer. These strategies include actively stimulating the immune system from the outside to prompt it to take action or destroy tumors with proteins that are specific to the tumors. Immunotherapy is most commonly utilized in conjunction with other cancer treatments such as surgery, radiation therapy, or chemotherapy to maximize the therapeutic efficacy of the cancer treatment. Because immunotherapy is associated with a lower risk of side effects compared to other forms of cancer treatment, it has gained popularity as a viable option for cancer care. The most recent breakthrough in cancer treatment is an immunotherapy-based vaccine currently in development. 

By Indication

Based on the indication, the global oncology cancer drug market has been categorized into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, and bladder cancer.

The breast cancer segment is the highest contributor to the market and is estimated to grow at a CAGR of 8.3% during the forecast period. The adoption of an unhealthy lifestyle, the genetic profile of a patient, the growth in the female geriatric population, and exposure to harmful radiation are all contributing factors to this rise in the prevalence rate of breast cancer. The breast cancer segment was the most significant contributor to revenue, and this trend is anticipated to continue during the forecast period. This is because the rise in females diagnosed with breast cancer is the primary factor driving the expansion of the et. In addition, the development of unhealthier lifestyles, the increase in the number of older women, the possibility of being exposed to harmful radiation, and the increasing number of initiatives taken by the government all contributed to the expansion of the market.   

The prostate cancer segment is the second-largest and is estimated to grow at a CAGR of 8.4% during the forecast period. Several regional businesses have launched new products to improve their portfolio, further propelling market expansion.

Due to the rise in lung cancer cases worldwide in 2022, the lung cancer category will have a sizable market share. The International Agency for Research on Cancer estimates that 1.8 million deaths worldwide will be attributable to lung cancer in 2020. The most common form of cancer among the world's population, lung cancer, causes about 18% of all cancer deaths worldwide. It is acknowledged as the main reason for cancer fatalities. One of the main drivers of this segment's growth is the rising global smoking prevalence.

Regional Analysis

The global oncology cancer drug market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA. 

North America is the most dominant and is estimated to grow at a CAGR of 6.7% during the forecast period. The availability of top-notch treatment options, a rise in product approvals, and increased public awareness of early cancer detection are just a few factors that will contribute to the market's continued expansion. This is expected to occur shortly. In addition, rapid advancements in tumor biology, genetics, and immunology have led to the creation of several new cancer drugs in this part of the world. North America is anticipated to provide market players in the future with new opportunities. For instance, different companies such as Abbie, Amgen Inc., Johnson & Johnson, and Pfizer Inc. are all examples of companies that offer pipeline products. As a result, the presence of several drugs already in the pipeline, including ideal medications currently in the late stage of development, is anticipated to provide lucrative opportunities for market expansion.

Europe is the second-largest contributor to the market and is estimated to reach around USD 65,928.4 million at a CAGR of 7.4% during the forecast period. A significant number of pharmaceutical companies that focus on the research and development of oncology drugs can be found in Europe. In addition, the high prevalence of cancer, rising demand for targeted medicines, high levels of disposable income, and increased disease awareness due to public and private initiatives are all factors driving the market for cancer therapeutics in Europe. In addition, the rise in the elderly population across the region has been a significant contributor to the expansion of the market, along with the enhancement of treatment facilities and the implementation of highly innovative chemotherapy in clinical environments. During the period being analyzed, these factors are anticipated to contribute to Europe's expansion of the oncology and cancer drug market.

Oncology Cancer Drugs Market Regional Analysis
Regional Growth Insights Download Free Sample

Top Key Players of Oncology Cancer Drugs Market

The key players in the global oncology cancer drugs market include

  • AbbVie Inc.
  • Amgen
  • Astellas Pharma Inc.
  • AstraZeneca PLC
  • Bristol-Myers Squibb Company
  • Hoffmann-La Roche Ltd.
  • Johnson & Johnson (Janssen Global Services, LLC)
  • Merck & Co., Inc.
  • Novartis AG
  • Pfizer Inc.

Report Scope

Report Metric Details
CAGR 7.7%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Drug Class Type
    1. Chemotherapy
    2. Targeted Therapy
    3. Immunotherapy (Biologic Therapy)
    4. Hormonal Therapy
  2. By Indication
    1. Lung Cancer
    2. Stomach Cancer
    3. Colorectal Cancer
    4. Breast Cancer
    5. Prostate Cancer
    6. Liver Cancer
    7. Esophagus Cancer
    8. Cervical Cancer
    9. Kidney Cancer
    10. Bladder Cancer 
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa

Recent Developments

  • In January 2023, Discover your 360°, an immersive experience from Allergan Aesthetics, an AbbVie business (NYSE: ABBV), was introduced at the 24th International Master Course on Aging Science (IMCAS) World Congress. This customer-centric strategy encourages ongoing innovation and offers cutting-edge goods and services to support practitioners' and patients' aesthetic requirements now and in the future.
  • In January 2023, Reblozyl® (luspatercept) for Adult Patients with Anemia-Associated, Non-Transfusion-Dependent: Bristol Myers Squibb Receives Positive CHMP Opinion (NTD) Thalassemia beta.
  • In February 2023, Roche released encouraging results from its global phase III program for treating PNH, a rare but serious blood disorder.
  • In January 2023, Merck Completed the Acquisition of Imago BioSciences, Inc. through a Tender Offer.

Oncology Cancer Drugs Market Segmentation

By Drug Class Type

  • 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 

By Region

  • North America
  • Europe 
  • Asia-Pacific

Frequently Asked Questions (FAQs)

What is the growth rate for the Oncology Cancer Drugs Market?
Oncology Cancer Drugs Market size will grow at approx. CAGR of 7.7% during the forecast period.
Some of the top industry players in Oncology Cancer Drugs Market are, AbbVie Inc., Amgen, Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, Hoffmann-La Roche Ltd., Johnson & Johnson (Janssen Global Services, LLC), Merck & Co., Inc., Novartis AG, Pfizer Inc., etc.
North America has held a dominant position in the Oncology Cancer Drugs Market, with the largest market share.
The Oncology Cancer Drugs Market has seen the most substantial growth rate in Europe.
The global Oncology Cancer Drugs Market report is segmented as follows: By Drug Class Type, By Indication
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Nippon Becton Dickinson
Argon Medical Devices
Johnson & Johnson
Need Assistance?
+1 646 905 0080 (U.S.)
+44 203 695 0070 (U.K.)

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers