In terms of revenue, the worldwide cancer therapeutics market was estimated at USD 194.67 billion in 2024 and is anticipated to reach approximately USD 429.84 billion in 2033. Rise in prevalence of cancer cases and cancer research, surge in collaboration between pharmaceutical companies, and growth in geriatric population are the major factors that augment the growth of the cancer therapeutics market.
Furthermore, according to the Globocan 2020 fact sheet, 19,292,789 new cancer cases were diagnosed worldwide, with nearly 9,958,133 deaths owing to cancers all around the world.
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Market Overview and Industry Potential
Targeted Therapies and Tech-Driven Solutions Reshape Cancer Care
The cancer therapeutics market is expected to see rapid growth owing to an increased focus on the development of drugs and treatment for several cancer types, such as prostate cancer, breast cancer, and blood cancers, in the current period. Moreover, the need for better diagnostics and lifestyle changes is likely to lead the industry growth in the coming years. Also, technological advancement can play a major role in the market for the future period.
“The cancer therapeutics landscape is undergoing a paradigm shift, from traditional chemotherapies to precision and immunotherapies. This evolution, backed by AI and real-world evidence, is reshaping how we define cancer care,” said Deepa Pandey, Principal Consultant at Precedence Research.
Cancer Therapeutics Market Highlights:
🔹North America accounted for the major revenue share of 36% in 2024.
🔹Asia Pacific is expected to grow at a significant CAGR from 2025 to 2034.
🔹By application, the lung cancer segment held the largest revenue share in 2024.
🔹By top-selling drug, the Revlimid segment contributed the highest revenue share in 2024.
🔹By end use, the cancer and radiation therapy centers segment is expanding at a notable CAGR 2025 to 2034.
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Manufacturers Seize Opportunities in Individualized Therapy Solutions
The increased need for targeted therapies, immunotherapies, and personalized medicine is expected to create significant opportunities for manufacturers in the coming years. With an emphasis on genetic markers, biomarker testing, and companion diagnostics, cancer therapeutics is shifting toward individualized treatment plans.
Pharmaceutical companies are investing heavily in precision oncology, exploring areas such as antibody-drug conjugates (ADCs) and RNA-based drugs, which are poised to reshape how cancer is managed in the next decade.
Cost and Timeline Emerge as Major Hurdles in Cancer Drug Development
The high cost and long development timings are projected to hamper the market growth in the coming years, as the procedure such as the clinical trails, safety tastings, and the regulatory approval can be expensive ad time consuming sometimes which is likely to create the growth barriers for the small and mid-size market entrants in the coming years as per the industry observations. Moreover, regulatory approval reflects some of the challenges for manufacturers in the coming years.
Also Read 👉 Advanced Therapy Medicinal Products Market Analysis: Leading Companies and Innovations
Cancer Therapeutics Market Report Coverage
|
Report Attributes |
Key Statistics |
|
Market Size in 2024 |
USD 194.67 Billion |
|
Market Size in 2025 |
USD 212.58 Billion |
|
Market Size by 2034 |
USD 469.38 Billion |
|
Growth Rate (2025-2034) |
CAGR of 9.20% |
|
Base Year |
2024 |
|
Forecast Period |
2025 to 2034 |
|
Largest Market (2024) |
North America (36% share; ≈USD 70.08 billion) |
|
Fastest Growing Market |
Asia Pacific (significant growth; fastest CAGR region) |
|
U.S. Market Size in 2024 |
USD 49.06 Billion |
|
U.S. Market Size by 2034 |
USD 120.78 Billion |
|
Segments Covered |
Top Selling Drug, Application, End User, Region |
|
Therapy Type Coverage |
Chemotherapy, Immunotherapy, Targeted, Hormonal, Radiation, Gene/Cell-based |
|
Regions Covered |
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
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How Big is the U.S. Cancer Therapeutics Market?
According
to Precedence Research, The U.S. cancer therapeutics market size was valued at
USD 49.06 billion in 2024 and is projected to rise from USD 53.57 billion in
2025 to USD 120.78 billion by 2034. The market is expanding at a solid CAGR of
9.43% between 2025 to 2034.
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What Makes North America the Leader in Cancer Therapeutics?
North America held the dominant share of the cancer therapeutics market in 2024, owing to the modern and advanced healthcare infrastructure in the region. Moreover, the region has seen heavy modern healthcare spending, akin to its modern population's needs.
Also, the region has early access to innovative cancer treatment due to the heavy and technology-driven research and development activity and its centres. Moreover, the presence of the major pharmaceutical companies is actively driving the industry growth in the region, as per the recent observation.
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Modern Cancer Centres Shape the Future of Asia Pacific Healthcare
Asia Pacific is expected to expand notably during the forecast period, owing to a rapid increase in cancer cases and the ongoing healthcare infrastructure development. Furthermore, countries such the India, China, and others are seen in putting investment in the development of modern cancer care centres in their spaces.
Also, these countries have the presence of major pharmaceutical companies, and the healthcare professional is expected to lead the industry growth during the forecast period, as per the future industry expectations.
Cancer Therapeutics Market Segmentation Analysis:
Application Type Analysis:
Why Did the Lung Cancer Segment Dominate the Market in 2024?
The lung cancer segment held the largest share of the cancer therapeutics market in 2024, owing to its being one of the most common and deadliest cancers worldwide. It is often diagnosed in later stages, requiring aggressive and continuous treatment, which increases demand for therapeutics. Smoking, pollution, and aging populations have led to high lung cancer rates, especially in men.
Targeted therapies and immunotherapies have been developed to treat different types of lung cancer, improving survival and increasing treatment adoption. Due to its high mortality rate and large patient pool, the lung cancer segment has remained the leading application area in the cancer treatment market.
Also Read 👉 How the Lung Cancer Therapeutics Market Is Evolving with Targeted Therapies
The breast cancer segment is expected to grow at a notable rate during the predicted timeframe, owing to increasing awareness, regular screening programs, and early diagnosis, especially among women. It is the most common cancer in women worldwide, and survival rates have improved with targeted therapies and hormone treatments.
Governments and NGOs actively promote breast cancer education and screening, leading to higher detection and treatment rates. As more personalized therapies and immunotherapies are developed for breast cancer, treatment options are expanding. Combined with rising incidence, early detection, and better outcomes, the breast cancer segment will likely see the most rapid growth in the coming years.
Also Read 👉 Cancer Immunotherapy Market Forecast: Technology, Trials, and Treatment Advances
Top Selling Drug Analysis:
How Revlimid Segment Maintains Its Dominance in the Current Industry?
The Revlimid segment held the largest share of the market in 2024, akin to its strong effectiveness in treating myeloma and several blood cancers in the current period. Moreover, having properties like succens in survival rate and the slower progression of the disease, Revlimid has gained immense popularity in recent years.
Moreover, the greater approval rate in global countries can drive the industry growth in the coming years, as the availability of this is reflected in their own marketing during the project time, as per the future industry expectations.
Also Read 👉 How the Blood Cancer Diagnostics Market Is Revolutionizing Hematologic Testing
End User Analysis:
Why Did the Cancer and Radiation Therapy Segment Dominate the Market in 2024?
The cancer and radiation therapy segment dominated the market with the largest share in 2024, as they provide specialized and comprehensive care for cancer patients. These centers have the latest equipment for chemotherapy, radiotherapy, and precision treatments, making them a preferred choice for patients and doctors. They also offer multidisciplinary care with oncologists, radiologists, and surgeons working together.
Many patients require advanced technologies like linear accelerators and proton therapy, which are typically available only in dedicated centers. As cancer care becomes more specialized, these facilities continue to be the top places where patients receive complete and advanced treatment under one roof.
💡Related Topics You May Find Useful:
➢ Next Generation Cancer Therapeutics Market: The global next-generation cancer therapeutics market size was estimated at USD 86.20 billion in 2024 and is predicted to increase from USD 92.54 billion in 2025 to approximately USD 175.20 billion by 2034, expanding at a CAGR of 7.35% from 2025 to 2034.
➢ Cancer Therapeutics and Biotherapeutics Market: The global cancer therapeutics and biotherapeutics market size accounted for USD 194.15 billion in 2024 and is expected to exceed around USD 440.59 billion by 2034, growing at a CAGR of 8.54% from 2025 to 2034.
➢ Cancer Biopsy Market: The global cancer biopsy market size accounted for USD 30.77 billion in 2024 and is predicted to increase from USD 36.55 billion in 2025 to approximately USD 172.29 billion by 2034, expanding at a CAGR of 18.80% from 2025 to 2034.
➢ Colorectal Cancer Therapeutics Market: The global colorectal cancer therapeutics market size accounted at USD 12.79 billion in 2024 and is expected to be worth around USD 19.95 billion by 2034, at a CAGR of 4.55% from 2025 to 2034.
➢ Liquid Biopsy Market: The global liquid biopsy market size was estimated at USD 6.17 billion in 2024 and is anticipated to reach around USD 22.69 billion by 2034, expanding at a CAGR of 13.91% from 2025 to 2034.
➢ U.S. Liquid Biopsy Market: The market size was valued at USD 1.85 billion in 2023 and is expected to be worth around USD 6.62 billion by 2033, growing at a CAGR of 13.55% during the forecast period from 2024 to 2033.
➢ Pet Cancer Therapeutics Market: The global pet cancer therapeutics market size was estimated at USD 448.03 million in 2024 and is predicted to increase from USD 493.01 million in 2025 to approximately USD 1,150.70 million by 2034, expanding at a CAGR of 9.89% from 2025 to 2034.
➢ Small Cell Lung Cancer Therapeutics Market: The global small cell lung cancer therapeutics market size accounted for USD 6.46 billion in 2024 and is anticipated to reach around USD 20.6 billion by 2034, expanding at a CAGR of 12.30% between 2024 and 2034.
➢ Targeted Therapeutics Market: The global targeted therapeutics market size was USD 80.14 billion in 2024, estimated at USD 85.75 billion in 2025 and is anticipated to reach around USD 155.20 billion by 2034, expanding at a CAGR of 6.83% from 2025 to 2034.
Cancer Therapeutics Market Key Players
🔹F. Hoffmann-La Roche AG
🔹Bristol-Myers Squibb Company
🔹AbbVie, Inc.
🔹Johnson & Johnson
🔹Celgene Corporation
🔹AstellasPharma, Inc.
🔹Pfizer, Inc.
🔹Novartis AG
🔹Merck KGaA
🔹Eli Lilly and Company
“Need a custom strategy for entering the oncology therapeutics market or tracking competitor drug pipelines? Talk to our research consultants today.”
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What is Going Around the Globe?
🔹In 2024, the FDA provided authorization for pembrolizumab. This is chemotherapy for adult patients who are suffering from endometrial carcinoma. Moreover, as per the observation of the FDA, the adverse effects of pembrolizumab and chemoradiotherapy were similar, as per the report. (Source- https://www.fda.gov)
🔹Approval: In 2024, an article published by AstraZeneca says the FDA recently approved chemotherapy of AstraZeneca's chemotherapy. Chemotherapy is called Imfinzi plus. Also, this chemotherapy will be used as a treatment for adult patients who are suffering from primary advanced endometrial cancer, as per the company's claim.
Strategic Collaborations & Market Trends
🔹 Pfizer and
Arvinas entered a co-development deal for targeted breast cancer
therapies.
🔹 Bristol Myers
Squibb acquired Mirati Therapeutics, focusing on KRAS inhibitors
for lung and colorectal cancers.
🔹 Increasing
adoption of biosimilars for Herceptin, Avastin, and Rituxan is reshaping
competitive pricing.
🔹 Johnson & Johnson is doubling down on immuno-oncology via its Legend Biotech collaboration, while Merck is expanding the Keytruda pipeline into new solid tumor indications, reinforcing the race for dominance in checkpoint inhibitor therapies.
Cancer Therapeutics Market Segmentation:
By Application
• Blood Cancer
•Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Breast Cancer
• Cervical Cancer
• Head and Neck Cancer
• Glioblastoma
• Malignant Meningioma
• Mesothelioma
• Melanoma
• Others
By Top Selling Drugs
• Revlimid
• Avastin
• Herceptin
• Rituxan
• Opdivo
• Gleevec
• Velcade
• Imbruvica
• Ibrance
• Zytiga
• Alimta
• Xtandi
• Tarceva
• Perjeta
• Temodar
• Others
By End User
• Hospitals
• Specialty Clinics
• Cancer and Radiation Therapy Centers
By Geography
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or Asia Pacific.
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Precedence Research is a global market intelligence and consulting powerhouse, dedicated to unlocking deep strategic insights that drive innovation and transformation. With a laser focus on the dynamic world of life sciences, we specialize in decoding the complexities of cell and gene therapy, drug development, and oncology markets, helping our clients stay ahead in some of the most cutting-edge and high-stakes domains in healthcare. Our expertise spans across the biotech and pharmaceutical ecosystem, serving innovators, investors, and institutions that are redefining what’s possible in regenerative medicine, cancer care, precision therapeutics, and beyond.
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