The global cancer drugs market size was exhibited at USD 155.7 billion in 2022 and it is expected to hold around USD 272 billion by 2030, growing at a CAGR of 7.2% from 2022 to 2030.

Cancer drugs are drugs that control neoplastic cells. It is used in chemotherapy procedures to kill cancer cells. It has side effects such as nausea, vomiting, and hair loss. Chemotherapy uses one or more anticancer drugs. Cancer is a lethal disease after cardiovascular, parasitic, and infectious diseases. Cancer treatment includes surgery, radiation, and drugs. The surgery is used for the early stage of cancer. Radiotherapy is used in a localized setting. It is in conjunction with surgical procedures. The drugs are given with chemotherapy.

Chemotherapy uses a massive group of drugs that have cytotoxic effects. Targeted therapy targets the changes in cancer cells. Immunotherapy is a cancer treatment. It helps the immune system to fight cancer. Hormone therapy stops the growth of breast and prostate cancers. Anticancer drugs restrict cell division. These drugs destroy cancer cells. Cancer responds to effective treatment when identified early.

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Growth Factors

An increase in the Prevalence of cancer majorly drives the global market. In line with this, the rising incidence of various cancer conditions significantly contributes to market growth. Furthermore, the growing popularity of advanced therapies positively influences market growth. Apart from this, the surge in the geriatric population catalyzes market growth. Moreover, the rise in cancer awareness creates a positive outlook for the market. Besides, early screening for cancer propels market growth.

Additionally, a higher number of potential drugs strengthens the market growth. The COVID-19 pandemic has impacted the oncology drugs market. It affected the supply of cancer drugs to treat cancer patients. The growing Prevalence of lung cancer favors market growth. The growing interest in developing targeted therapies creates a positive outlook for the market. The presence of a favorable regulatory environment for drug approval significantly contributes to market growth. The improved healthcare infrastructure and inflating disposable income positively influence the market growth. The rising awareness about new cancer therapies catalyzes market growth. Pharmaceutical companies are focusing on research and development activities. The increasing consumption of alcohol and tobacco fuels market growth. The rapid adoption of oncology diagnostics significantly contributes to market growth. The growing initiatives of the government in spreading awareness regarding the prevention of cancer boost the overall market growth. The rising Prevalence of various chronic diseases propels the market growth. The heavy investments in the biopharmaceutical industry boost the market growth. The development of different innovative drugs and therapeutics strengthens the market growth.

Cancer Drugs Market Report Scope

Report Highlights:

• Cancer treatment dominated the market and accounted for the largest revenue share. It is expected to maintain its dominance in the coming years. Increasing demand for chemotherapy and immunotherapy for cancer treatment significantly contributes to the segment's growth. The rapid adoption of targeted therapy and immunotherapy positively influences market growth. The widespread ability of the targeted therapy boosts growth. The increasing awareness about the benefits of targeted therapy catalyzes market growth. On the other hand, cancer diagnostics is expected to witness a promising CAGR in the coming years. This is due to the increasing awareness about cancer treatment. The rising demand for early detection of cancer significantly contributes to the market growth.
• Based on the indication, lung cancer dominated the market and accounted for the largest revenue share. This is due to increased cases of lung cancer across the globe. It is the most diagnosed type of cancer. Lung cancer is the leading cause of cancer deaths. The rising Prevalence of smoking boosts the growth of this segment. On the other hand, breast cancer is expected to witness a promising CAGR in the coming years. This is due to the increasing Prevalence of breast cancer among females.

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Regional Snapshots

Based on the region, North America dominated the market and accounted for the largest revenue share. This is due to the increased Prevalence of cancer. The most prominent type of cancer is lung cancer, colorectal cancer, breast cancer, and prostate cancer. The developed healthcare infrastructure and the ageing population significantly contribute to the market growth across the region. Europe is expected to witness a promising CAGR in the coming years. This is due to rapid technological advancements and the increasing Prevalence of cancer. The rising number of cancer deaths positively influences market growth.

Market Dynamics:

Driver: Increasing prevalence of cancer

The Increasing Prevalence of cancer significantly contributes to market growth across the globe. In line with this, the rising Prevalence of different cancers positively influences the market growth. Furthermore, new drug launches and product approvals catalyze market growth. Apart from this, pharma companies' growing research and development activities propel market growth. Pharmaceutical companies are improving the capabilities of their R&D. Cancer is the second most prominent cause of death after cardiovascular disorders.

Factors like changing diet patterns, urbanization, alcohol consumption, and tobacco consumption are the causes of cancer. The Increasing Prevalence of cancer catalyzes the demand for cancer drugs. The rising awareness regarding cancer among the masses positively influences market growth.

Opportunity: Presence of strong pipeline of drugs

The presence of a robust pipeline of cancer drugs offers numerous opportunities for market growth. Rapid growth in innovative cancer treatment creates a positive outlook for the market. The emerging research and development pipeline significantly contributes to market growth. Several pharmaceutical companies are heavily investing in the research and development activities of novel drugs for cancer treatment.

The increasing preference for biosimilar and biologics accelerates the market growth. The rising focus on research and development to raise the adoption of advanced cancer therapies creates a positive outlook for the market.

Restraint: Adverse effects of drugs

The adverse effects of cancer/oncology drugs restrict the market growth. Cancer drugs kill cancer cells. These drugs also damage normal body cells. This causes multiple side effects for the patients. Some side effects are gastrointestinal disorders, neuropathies, bone marrow suppression, skin disorders, hair loss, and fatigue. Therefore, these adverse effects of cancer drugs hamper the market growth.

Challenges: Stringent regulations

The stringent regulations on the approval of cancer drugs challenge market growth. Furthermore, the high costs of cancer drugs hamper the market growth. The patent expiration also impedes market growth. All these factors hinder cancer/oncology drugs market growth.

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Key Developments:

• In April 2020, F.Hoffmann-La Roche launched an immunotherapy medicine in India, Atezolizumab.
• In May 2019, Synapse collaborated with Amgen, Inc to develop observational analytics research for assessing cancer treatment outcomes in unmet need areas of oncology.

Major Key Players

• Amgen
• Bayer Healthcare AG
• CELGENE CORPORATION
• GlaxoSmithKline
• ARIAD Pharmaceuticals, Inc.
• Eli Lilly and Company
• Novartis
• Hoffmann-La Roche Ltd.
• AstraZeneca
• BoehringerIngelheim GmbH
• Pfizer
• Teva Pharmaceuticals Industries

Market Segmentation

By Drug Class

• Targeted Therapy
• Chemotherapy
• Hormonal Therapy
• Immunotherapy

By Indication

• Lungs Cancer
• Colorectal Cancer
• Breast Cancer
• Liver Cancer
• Bladder Cancer
• Head & Neck Cancer
• Prostate Cancer
• Others

Regional Segmentation

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

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