Global Oncology Drug Market Size, Share, Opportunities, And Trends By Type of Cancer (Lung Cancer, Blood Cancer, Breast Cancer, Liver Cancer, Others), And By Geography - Forecasts From 2025 To 2030

Oncology Drug Market Size:

The Global Oncology Drug Market is expected to grow from USD 315.778 billion in 2025 to USD 443.595 billion in 2030, at a CAGR of 7.03%.

The growing prevalence of cancer is the prime factor that is significantly driving the global oncology drug market growth throughout the forecast period. Cancer is a type of disease in which abnormal cells grow and form a tumour. These cells have the potential to spread throughout the body through the blood and lymphatic system and may damage the body part and, in the worst case, may lead to death. The demand for cancer drugs is growing significantly throughout the globe due to the rising prevalence of different types of cancer around the world. Furthermore, continuous investments in R&D for the development of new drugs are expected to boost the oncology drug market during the forecast period and beyond.  The increasing healthcare expenditure is also one of the factors that are expected to augment the growth opportunities for the market in the coming years.

Oncology Drug Market Growth Drivers:

• The rising prevalence of cancer is driving the demand

According to the World Health Organization, cancer is the second leading cause of death globally, with an estimated 9.6 million deaths worldwide in 2018, and this number is on the rise. Furthermore, the rise in the geriatric population is also resulting in a rise in the cases of cancer because the process of ageing favours two essential processes in cancer development: the acquisition of mutations and the formation of a molecular and cellular environment that favours carcinogenesis. According to the American Cancer Society, Inc. nearly nine out of ten cancers are diagnosed in people over the age of 50. The increasing consumption of tobacco and alcohol is also the reason for the increasing number of cancer cases, but the consumption of both of them together further worsens their effect. In addition, rising pollution and environmental changes have also led to the rising concentration of carcinogens in the air, which is further responsible for increasing the prevalence of cancer.

In addition, it is estimated that the estimated number of incident cases for all types of cancer will increase from 18,078,957 in 2018 to 29,532,99 by 2040 (Source: GLOBOCAN 2018, World Health Organization). Therefore, the growing number of cancer cases is anticipated to significantly drive the demand for oncology drugs during the next five years.

• Booming healthcare is expected to drive the market growth

The position of healthcare in many developing countries is still at a young stage. There is a staging difference between the survival rates when compared to the developed nations. According to the data from the World Health Organization, the mortality rate of cancer worldwide comes up to 52.52%, whereas in Europe the survival rate is at 45.95% and in Africa, it comes to 65.72%, with the central African region getting up to 71.82%. This difference is mainly because of the lack of education and availability of proper treatment facilities in developing economies. According to the WHO, the major burden of the rise in the cases of cancer will befall these regions. Additionally, many of the cases in these regions go undetected or untreated because of a lack of awareness or because their families are not able to afford the treatment. Thus, growing healthcare spending is anticipated to propel market growth opportunities for key market players in the coming years.

• Lung cancer to hold a significant market share

The global oncology drug market has been segmented by the type of cancer into lung cancer, blood cancer, breast cancer, liver cancer, and others. The market for lung cancer is projected to hold a significant share in the global oncology drugs market on account of the growing number of smokers around the globe. People exposed to second-hand smoke are also at a higher risk of lung cancer. Furthermore, the growing number of lung cancer cases in some regions is also propelling the market growth of this segment. Breast cancer is expected to surge at a decent rate due to the growing number of cases.

 

Oncology Drug Market Geographical Outlook:

• Asia-Pacific is expected to show decent growth opportunities over the forecast period

Geographically, the global oncology drug market has been classified into North America, South America, Europe, the Middle East, and Africa, as well as the Asia Pacific. The Asia Pacific region is anticipated to grow at a notable rate on account of the growing healthcare sector of various developing countries, such as India, China, and Indonesia, due to the improving economic conditions. The growing prevalence of cancer due to the lack of proper medical facilities is also anticipated to drive the demand for oncology drugs throughout the region. The North American and European regions are expected to hold a notable share of the market due to the presence of well-established healthcare industries in countries such as the United States, Canada, Germany, and Italy, among others. Furthermore, the presence of key market players in these regions is also one of the key factors that are supplementing the market growth in these regions over the next five years.

Key Market Segmentation

• By Type of Cancer
  • Lung Cancer
  • Blood Cancer
  • Breast Cancer
  • Liver Cancer
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Taiwan
    • Indonesia
    • Others

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AbbVie Inc.

F. Hoffmann-La Roche Ltd

Novartis AG

AstraZeneca

Johnson & Johnson Services, Inc.

Bayer AG

Merck & Co., Inc.

Astellas Pharma Inc.