by The oncology market size is predicted to reach USD 581.25 billion by 2030 and is expected to register a CAGR of 8.2% from 2022 to 2030.
The study provides an analysis of the period 2017-2030, wherein 2022 to 2030 is the forecast period and 2021 is considered as the base year.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents a breakdown of the market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift in global, regional, and country from 2017 to 2030.
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The global oncology market is driven by the rising prevalence of cancer disease among the global population that significantly fosters the demand for the various oncology diagnostics and treatment products. Around 10 million cancer deaths were recorded in 2020 and around 19.3 million new cancer cases were diagnosed globally in 2020, as per the data provided by the International Agency for Research on Cancer in its report named GLOBOCAN.
The rising awareness regarding cancer and availability of various oncology treatment and innovative diagnostic tools for detecting cancer. The rising investments by the biopharmaceutical industry players in the research and clinical trials of various therapeutics and diagnostics are expected to fuel the growth of the global oncology market during the forecast period.
Table of Contents
Scope of the Oncology Market
| Report Coverage | Details |
| Market Size in 2020 | US$ 265.1 Billion |
| Growth Rate | CAGR of 8.2% from 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Europe |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Cancer Diagnostics & Treatment, Indication, Region |
Market Dynamics
Driver
Rapidly rising prevalence of cancer across the globe
As per the IARC, the global new cancer cases is expected to rise by 47% from 2020 to 2040. Therefore, the projected increase in the new cancer cases by almost 50% in a span of 20 years is a major factor that will play a crucial role in spurring the demand for the oncology diagnostics and treatment across the globe. The rapidly growing pharmaceutical industry is expected to boost the oncology market growth in the forthcoming years. Moreover, the increasing adoption of the immunotherapy and targeted therapy owing to their effectiveness and low complications is spurring the growth of the oncology market.
Restraints
Lack of awareness and low access to healthcare facilities
There is a lack of awareness in the underdeveloped and developing economies regarding cancer. Most of the people remain undiagnosed owing to the low financial capabilities and poor access to the healthcare services and other facilities. This is a major factor that may hinder the growth of the global oncology market during the forecast period. The lack of adequate healthcare infrastructure is depriving the people from acquiring the necessary treatment and diagnostics related to cancer and various other chronic diseases.
Opportunities
Technological advancements in the diagnostics
The increasing awareness among the population regarding cancer and availability of various cancer diagnostic devices is expected to fuel the market growth. Moreover, the increased affordability and rising healthcare expenditure coupled with the desire to detect cancer disease in the early stages is significantly driving the growth of the oncology market.
Challenges
The presence of alternatives to the oncology treatment
The rapidly growing usage of biosimilar is a major threat to the oncology market. The biosimilar such as etanercept, infliximab, and rituximab are being extensively used in the treatment of cancer. Moreover, the approval of the FDA and EMA for the use of biosimilar has helped it to gain the confidence of the consumers in the past few years. Therefore, the presence of biosimilar is a major threat to the global oncology market.
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Report Highlights
- Based on the cancer diagnostics & treatment, the cancer treatment segment dominated the oncology market, garnering a market share of around 56% in 2020. The rising adoption of the targeted therapy and the immunotherapy for the treatment of cancer is exponentially spurring the growth of the cancer treatment segment. The low side effects and effective cancer treatment are the major advantages of the latest therapies over the traditional chemotherapy that is fostering the growth of this segment.
- Based on the indication, the breast cancer is estimated to be the most opportunistic segment during the forecast period. This is mainly due to the alarming rise in the breast cancer cases across the globe. According to the IARC, around 2.3 million new breast cancer cases were reported in 2020 all over the globe.
Regional Snapshot
North America accounted for around 46% of the market share in 2020 and dominated the global oncology market. The increased prevalence of cancer in the region coupled with the increased healthcare expenditure is augmenting the demand for the oncology treatment. Moreover, the increasing awareness regarding the various treatment and diagnostics related to cancer is expected to spur the growth of the market. The rapidly growing prevalence of various types of cancer such as lungs cancer, breast cancer, prostate cancer, and colorectal cancer in US has exponentially contributed in the growth of the oncology market.According to the American Cancer Society, over 1.8 million new cancer cases and 606,520 deaths were reported in the US in 2020.
Europe is expected to be the fastest-growing market during the forecast period. The constantly rising cases of cancer and cancer deaths across the European countries is the major reason behind the burgeoning growth of the Europe oncology market.Around 2.7 million new cancer cases and about 1.3 million cancer deaths were recorded in 2020 in Europe, as per the European Commission. Moreover, the breast cancer was the most diagnosed cancer type across the European nations in 2020. Increased demand for the advanced and innovative technologies in the healthcare industry in Europe is estimated to be the major driving force of the oncology market in Europe.
Some of the prominent players in the global oncology market include:
- Aegerion Pharmaceuticals Inc.
- Abbvie Inc.
- Ability Pharma
- Acadia Pharmaceuticals Inc.
- Amgen Inc.
- Takeda Oncology
- Aslan Pharmaceuticals Ltd.
- Aspen Pharmacare Holdings Limited.
- Astrazeneca
- Athenex, Inc.
Segments Covered in the Report
By Cancer Diagnostics & Treatment
- Cancer Diagnostics
- Biopsy
- Imaging
- Immunohistochemistry
- Tumor Biomarkers Test
- In Situ Hybridization
- Liquid Biopsy
- Cancer Treatment
- Targeted Therapy
- Chemotherapy
- Hormonal Therapy
- Immunotherapy
- Others
By Indication
- Lungs Cancer
- Colorectal Cancer
- Breast Cancer
- Liver Cancer
- Bladder Cancer
- Head & Neck Cancer
- Prostate Cancer
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- MEA
- Rest of the World
Key Points Covered in oncology market Study:
- Growth of oncology in 2022
- Market Estimates and Forecasts (2017-2030)
- Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for oncology and How to Navigate
- Key Product Innovations and Regulatory Climate
- Consumption Analysis
- Production Analysis
- Market and Management
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Oncology Market
5.1. COVID-19 Landscape: Oncology Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Oncology Market, By Indication
8.1. Oncology Market, by Indication Type, 2021-2030
8.1.1. Lungs Cancer
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Colorectal Cancer
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Breast Cancer
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Liver Cancer
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Bladder Cancer
8.1.5.1. Market Revenue and Forecast (2019-2030)
8.1.6. Head & Neck Cancer
8.1.6.1. Market Revenue and Forecast (2019-2030)
8.1.7. Prostate Cancer
8.1.7.1. Market Revenue and Forecast (2019-2030)
8.1.8. Others
8.1.8.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Oncology Market, By Cancer Diagnostics & Treatment
9.1. Oncology Market, by Cancer Diagnostics & Treatment, 2021-2030
9.1.1. Cancer Diagnostics (Biopsy, Imaging, Immunohistochemistry, Tumor Biomarkers Test, In Situ Hybridization, Liquid Biopsy)
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Cancer Treatment (Targeted Therapy, Chemotherapy, Hormonal Therapy, Immunotherapy, Others)
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Oncology Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Indication (2019-2030)
10.1.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Indication (2019-2030)
10.1.3.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Indication (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Indication (2019-2030)
10.2.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Indication (2019-2030)
10.2.3.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Indication (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Indication (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Indication (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Indication (2019-2030)
10.3.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Indication (2019-2030)
10.3.3.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Indication (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Indication (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Indication (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Indication (2019-2030)
10.4.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Indication (2019-2030)
10.4.3.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Indication (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Indication (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Indication (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Indication (2019-2030)
10.5.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Indication (2019-2030)
10.5.3.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Indication (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Cancer Diagnostics & Treatment (2019-2030)
Chapter 11. Company Profiles
11.1. Aegerion Pharmaceuticals Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Abbvie Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Ability Pharma
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Acadia Pharmaceuticals Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Amgen Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Takeda Oncology
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Aslan Pharmaceuticals Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Aspen Pharmacare Holdings Limited.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Astrazeneca
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Athenex, Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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