The global oncology drugs market was evaluated at US$ 154.47 billion in 2023 and is expected to attain around US$ 462.89 billion by 2033, growing at a CAGR of 11.6% from 2024 to 2033. The nanoparticle (NP)-based drug delivery systems (DDS) have significantly advanced cancer treatment, driving growth in the global cancer/oncology drugs market.
Oncology Drugs Market Overview
The global oncology drugs market is experiencing rapid growth, driven by a diverse array of cancer treatments and drug combinations, each with distinct side effects. Key categories include chemotherapy, hormone therapies, targeted cancer drugs, immunotherapy drugs, and bisphosphonates, organized alphabetically by their generic and brand names. Chemotherapy remains a cornerstone of cancer treatment, renowned for its effectiveness in destroying fast-growing cancer cells by disrupting their cell cycle and preventing multiplication.
Ask here for sample pages@ https://www.precedenceresearch.com/sample/1415
Various chemotherapy agents employ different mechanisms to combat cancer, and these drugs are typically prescribed by medical oncologists as part of comprehensive treatment plans that may also incorporate surgery, radiation, immunotherapy, or targeted therapies. This extensive range of therapeutic options underscores the market’s dynamic nature, contributing to its significant expansion.
These NPs can effectively counteract drug resistance caused by overexpressed efflux transporters, defective apoptotic pathways, and hypoxic tumor environments by utilizing endocytosis for cell entry, thus circumventing conventional drug resistance mechanisms. The choice of NP type whether organic (such as liposomes, micelles, and dendrimers), inorganic (including gold NPs, carbon nanotubes, silica NPs, magnetic NPs, and quantum dots), or hybrid (such as lipid–polymer, organic–inorganic hybrids, and cell-membrane-coated NPs)—is tailored based on their specific size, characteristics, and the tumor’s pathophysiology. This versatility and targeted approach enhance therapeutic efficacy and patient outcomes, thereby fueling the expansion of the cancer/oncology drugs market globally.
- In May 2024, Glenmark and BeiGene partnered to market cancer drugs in India.
- In December 2024, Bristol Myers Squibb acquired RayzeBio, enhancing its radiopharmaceutical platform.
Report Highlights
- The U.S. oncology drugs market size was estimated at USD 48.36 billion in 2023.
- The U.S. oncology drugs market size is expected to hit around USD 152.24 billion by 2033, growing at a CAGR of 12.2% from 2024 to 2033.
- North America has accounted market share of 44.64% in 2023.
- By class type, the targeted therapy segment has accounted market share of 50% in 2023.
- By indication, the lung cancer segment has accounted market share in 2023.
Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/1415
Regional Stance
North America leads the global oncology drugs market in revenue share, with the United States showcasing a significant patient demographic and high incidence rates. Breast cancer survivors in the U.S. are generally younger compared to survivors of other common cancers, with over 4 million women living with a history of invasive breast cancer as of January 1, 2022. 287,850 new breast cancer cases are anticipated in 2022, and over 150,000 survivors are currently living with metastatic disease, primarily from initial diagnoses at stages I-III. Lung cancer prevalence is also notable, with 654,620 men and women having a history of the disease, and an estimated 236,740 new cases projected for 2022. These statistics underscore the substantial demand for oncology drugs in North America, driving market growth and innovation in cancer treatment.
- In February 2024, Tagrisso with the addition of chemotherapy received US approval for treating patients with EGFR-mutated advanced lung cancer.
- In May 2024, Zydus Lifesciences signed a supply pact with MSN for a generic cancer drug in the US.
Europe is poised to be the most opportunistic market for oncology drugs during the forecast period. The European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) recently recommended Fruzaqla, Truqap, and Eribulin Baxter for treating specific cancers at its April 2024 meeting. The EMA's accelerated approval of novel cancer medicines has resulted in nearly 100 new drugs in the past decade. The rising incidence of cancer in Europe, fueled by an aging population and unhealthy lifestyles, further drives market demand. Access to these innovative treatments through public health systems varies significantly across European countries, highlighting both the challenges and potential for growth in this region.
- In January 2023, Europe launched the European Cancer Imaging Initiative as part of its Beating Cancer Plan.
Request here for Custom Research Report@ https://www.precedenceresearch.com/customization/1415
Report Highlights
By Class Type
The targeted therapy segment has emerged as the dominant class in the oncology drugs market. Targeted therapy, a cornerstone of precision medicine, focuses on proteins that regulate cancer cell growth, division, and metastasis. Unlike chemotherapy, which indiscriminately kills rapidly dividing cells, targeted therapy interferes with specific proteins that facilitate tumor growth and dissemination. Advances in understanding the DNA changes and proteins that drive cancer have enabled the development of highly effective targeted treatments. This specificity and efficacy have positioned targeted therapy as a preferred option in cancer treatment, significantly contributing to its market dominance.
The immunotherapy segment is projected to be the fastest-growing in the oncology drugs market during the forecast period. Immunotherapy, a form of biological therapy, harnesses the body's immune system to combat cancer. This treatment leverages white blood cells and lymphatic system components to fight infections and diseases, including cancer. Immunotherapy drugs, derived from living organisms, have gained approval for numerous cancer types, though their adoption is not yet as widespread as traditional treatments like surgery, chemotherapy, or radiation therapy. The growing recognition of immunotherapy's potential efficacy and its expanding range of applications are driving its rapid market growth.
By Indication
The lung cancer segment holds the largest share in the cancer/oncology drugs market. Lung cancer originates in the windpipe (trachea), main airway (bronchus), or lung tissue, and is classified as primary lung cancer. The most prevalent form, accounting for 80% to 85% of cases, is non-small cell lung cancer (NSCLC). NSCLC encompasses subtypes such as adenocarcinoma, squamous cell carcinoma, and large cell carcinoma, all of which originate from different lung cell types but are collectively categorized due to their similar treatment protocols and prognoses. The high incidence and significant demand for effective treatments for NSCLC drive the substantial revenue generated by the lung cancer segment.
Market Dynamics
Driver
Rising Cancer Incidence
The global increase in cancer incidence is driven by multiple etiologies, including the accumulation of mutant alleles in populations due to the strong heritability of many cancers. Cancer has become the second leading cause of death worldwide, following cardiovascular disease. Contributing environmental factors such as tobacco smoking, urbanization and its associated pollution, and changing dietary patterns, combined with increased wealth and improved medical services leading to longer post-reproductive lifespans, have all been implicated in this rise. The implementation of prevention and treatment measures targeting these environmental factors, little progress has been made in reducing cancer incidence. This persistent increase in cancer cases continues to drive the growth of the global oncology drugs market, underscoring the need for ongoing innovation and investment in cancer therapies.
Restraint
Side Effects as a Limiting Factor
The variability and severity of side effects associated with cancer drugs present significant restraints on the global oncology drugs market. Side effects can differ widely among individuals and depend on the specific drugs used. While many side effects are merely inconvenient or upsetting without posing serious health risks, some can lead to severe medical conditions requiring additional treatment. Although most side effects do not cause lasting harm and typically subside after the completion of treatment, their occurrence can limit patient compliance and acceptance, thereby constraining the overall growth of the oncology drugs market.
Opportunity
Precision Medicine Opens New Opportunities
Precision medicine, also known as personalized medicine, represents a burgeoning approach in oncology that considers the genetic variability within and between tumors, as well as individual lifestyles and health conditions, to tailor treatment and prevention strategies for cancer patients. By targeting specific oncogenic drivers and modulating the tumor immune environment, precision medicine aims to optimize tumor response while minimizing therapy-induced toxicities.
This personalized approach not only enhances treatment efficacy but also preserves organ function and improves overall quality of life for patients. The adoption of precision medicine in oncology creates significant opportunities in the cancer drugs market by fostering innovation in targeted therapies and enhancing patient outcomes, thereby driving growth and expansion in the sector.
- In January 2023, Cellworks expanded into Precision Pharma to accelerate the development of cancer drugs and revive shelved pharmaceutical assets.
Recent Developments
- In January 2023, AstraZeneca Pharma India launched the cancer drug Enhertu.
- In March 2022, Novartis received FDA approval for Pluvicto as the first targeted radioligand therapy for treating progressive, PSMA positive metastatic castration-resistant prostate cancer.
- In April 2024, Amneal launched PEMRYDI RTU, the first ready-to-use version of an important oncology injectable medicine.
- In May 2024, Novartis entered into an agreement to acquire Mariana Oncology, thereby strengthening its radioligand therapy pipeline.
Key Players in the Oncology Drugs Market
- 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
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/1415
Call: USA: +1 650 460 3308 | IND: +91 87933 22019 | Europe: +44 2080772818
Email: sales@precedenceresearch.com
