According to Precedence Research, the global oncology market size was estimated at USD 250.88 billion in 2025 and is expected to expand USD 668.26 billion by 2034, accelerating a strong CAGR of 11.50% from 2025 to 2034.
In terms of revenue, the worldwide oncology industry is projected to be worth USD 278.73 billion in 2026. The rising oncology burden across the globe, owing to the increased consumption of alcohol and tobacco, is driving the growth of the global oncology market.
The International Agency for Research on Cancer (IARC), in its report GLOBOCAN, has stated that approximately 19.3 million new cancer cases and about 10 million deaths related to cancer were recorded in 2020, across the globe. The IARC has estimated that the new cancer cases are expected to rise by 47% all over the globe from 2020 to 2040.
Oncology Market Key Highlights
🔹 Market Size: The global oncology market size was valued at USD 225.01 billion in 2024 and is forecasted to reach USD 668.26 billion by 2034.
🔹 Growth Rate: The market is projected to expand at a strong CAGR of 11.50% between 2025 and 2034.
🔹 Regional Insights: North America dominated the market in 2024 with a 46% share, driven by advanced healthcare infrastructure and high adoption of innovative therapies.
🔹 Segment Insights:
→ Cancer treatment led the market, accounting for 56% of the global share in 2024.
→ By indication, lung cancer emerged as the leading segment in 2024.
🔹 End-User Outlook: The hospital segment is anticipated to grow steadily at a CAGR of 10.9% from 2025 to 2034.
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Market Overview and Industry Potential
Cancer Treatment Revolution: The Future of the Oncology Market
The oncology market is expected to experience significant growth owing to the rapid rise in cancer cases globally. Moreover, the market is focused on the treatment, diagnosis, and better management of cancer. Furthermore, the increased adoption of precision medicine and targeted drugs actively provides significant industry attention in the current period. Also, the global government is seen in under the heavy investments in better healthcare infrastructure worldwide.
What are Latest Trends in Global Oncology Market?
🔹Expansion of antibody-drug conjugates (ADCs) and tyrosine kinase inhibitors (TKIs).
🔹 Expansion of CAR-T cell therapy beyond blood cancers into solid tumors.
🔹 AI used in medical imaging, treatment planning, and drug discovery.
🔹Ongoing disparities in access to innovative therapies and diagnostics in low-income regions.
Oncology Market Opportunity:
Accessible Healthcare Solutions Drive Long-term Market Potential
The development of affordable and accessible treatments is expected to create huge opportunities for the treatment developers in the coming years. Moreover, the treatment developers can showcase their innovative and cost-effective treatment in the developing region where individuals still face delays in diagnosis during the forecast period. These initiatives can provide long-term profit margins with a loyal consumer base in the upcoming years.
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Oncology Market Challenges:
High Development Costs Slow Progress in Medical Innovation
The high cost of the treatment and long timeline are expected to hamper the industry's growth in the coming years. Moreover, the development of the novel treatment can be time-consuming and expensive sometimes owing to the need for clinical trials and years of research, which can create growth barriers to industrial growth during the forecast period, as per the market expectations.
Scope of Oncology Market 2024 to 2034
|
Report Coverage |
Details |
|
Market Size in 2024 |
USD 225.01 Billion |
|
Market Size in 2025 |
USD 250.88 Billion |
|
Market Size in 2031 |
USD 482.08 Billion |
|
Market Size by 2034 |
USD 668.26 Billion |
|
Growth Rate 2025 to 2034 |
CAGR of 11.50% |
|
Leading Region in 2024 |
North America |
|
Base Year |
2024 |
|
Forecast Period |
2025 to 2034 |
|
Segments Covered |
Cancer Diagnostics & Treatment, Indication, Region |
|
Regions Covered |
North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
|
Key Players |
Aegerion Pharmaceuticals Inc., Abbvie Inc., Ability Pharma, Acadia Pharmaceuticals Inc., Amgen Inc., Takeda Oncology, Aslan Pharmaceuticals Ltd., Aspen Pharmacare Holdings Limited., Astrazeneca, Athenex, Inc.. |
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Oncology Market Top Companies
🔸AbbVie Inc
🔸Takeda Pharmaceutical Company Limited
🔸Pfizer Inc.
🔸Biogen
🔸Novartis AG
🔸Lilly
🔸UCB S.A.
🔸CELLTRION INC.
🔸Merck & Co., Inc.
🔸Johnson & Johnson Services, Inc
Case Study: Metropolis Healthcare’s Preventive Oncology Breakthrough in India
India is experiencing a rapid rise in cancer cases, particularly in urban centers where lifestyle-related cancers such as breast, lung, and colorectal cancers are on the rise. Despite being a hub for affordable generic oncology drugs, India has faced challenges in early diagnosis and preventive care, often leading to late-stage detection and higher mortality rates.
Challenge
The major challenge was the lack of accessible, comprehensive cancer screening solutions for the general population. While tertiary care hospitals in metro cities had advanced diagnostics, tier-2 and tier-3 regions lacked preventive screening infrastructure. This gap often delayed treatment initiation, increasing the overall healthcare burden and worsening patient outcomes.
Strategic Initiative
In 2025, Metropolis Healthcare Limited, India’s second-largest and most respected diagnostic laboratory chain led by Ameera Shah, launched the TruHealth Cancer Screen 360, a first-of-its-kind comprehensive screening panel tailored for the Indian population.
This initiative aligned with the broader oncology market trend of shifting focus toward preventive oncology and early detection, as highlighted in Precedence Research’s findings that cancer diagnostics are expected to grow significantly due to rising awareness and AI-enabled imaging solutions.
Implementation
🔹Technology Integration: Metropolis incorporated advanced diagnostic technologies including liquid biopsy and biomarker-driven testing to ensure accurate and early detection.
🔹Accessibility: The panel was designed to be affordable and scalable, catering not only to metro cities but also to semi-urban and rural populations through mobile screening programs.
🔹Public Awareness: The launch was accompanied by awareness campaigns promoting the importance of preventive screening and regular checkups, aligning with government health initiatives like Ayushman Bharat.
Outcome
🔹Within months of launch, TruHealth Cancer Screen 360 attracted significant uptake in urban diagnostic centers.
🔹The initiative expanded screening access to underserved populations, thereby reducing delays in cancer detection.
🔹Metropolis strengthened its brand positioning as a leader in preventive oncology, complementing India’s role as a global supplier of affordable oncology solutions.
🔹The case demonstrated that investments in early diagnosis could reduce long-term cancer treatment costs, aligning with the market’s focus on accessible healthcare solutions.
Lessons Learned
🔹Preventive care is market-defining – Early diagnostics not only improve patient survival rates but also create sustainable revenue streams for healthcare providers.
🔹Affordability drives adoption – Especially in emerging economies, cost-effective solutions gain faster market penetration.
🔹Integration of awareness + technology ensures the success of new healthcare offerings.
Conclusion
Metropolis Healthcare’s TruHealth Cancer Screen 360 is a successful example of how preventive oncology initiatives can transform patient outcomes while capturing market opportunities in a fast-growing oncology sector. It illustrates the broader oncology market trend of shifting from reactive treatment to proactive screening and personalized care, a movement expected to fuel the global oncology market’s CAGR of 11.5% between 2025 and 2034.
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What is Going Around the Globe?
→ In 2025, to spread awareness about bladder cancer, the 'Kang Bang Cancer Right-Alert Week' campaign was declared last week by the Korean Society of Oncology and the Korean Society of Urology at Samsung Medical Center's Seminar Room 1 on the 23rd of May. This campaign is conducted every year in May to increase awareness as well as public interest in bladder cancer and its risk.
→ In 2025, Metropolis Healthcare Limited, led by Ameera Shah, which is India's second-largest and most respected diagnostic laboratory chain, to deal with the rising cancer threat has launched a comprehensive screening panel, named TruHealth Cancer Screen 360, to transform preventive oncology in India.
Oncology Market Key Regional Analysis:
How are Advanced Healthcare Facilities Powering North America’s Oncology Growth?
North America held the dominant share of the oncology market in 2024, owing to the presence of advanced healthcare facilities. Moreover, the presence of major pharmaceutical companies has been severely contributing to the industry's growth in the region in recent years. Moreover, the government is actively trying to reduce the expensive nature of cancer treatment by providing various advantages, such as insurance approvals and several subsidies, in the past few years.
The United States continues to lead the global oncology market in terms of innovation, drug development, and spending. It remains the largest consumer of oncology therapies, driven by high cancer prevalence, strong insurance coverage, and an advanced healthcare infrastructure. The U.S. also dominates in clinical trial activity and approvals of novel cancer drugs, particularly in areas like immunotherapy and targeted biologics.
How Bis is the U.S. Oncology Market Size?
According to Precedence Research, the U.S. oncology market size is anticipated to reach approximately USD 220.21 billion by 2034, increasing from USD 81.26 billion in 2025.It is expected to expand at a healthy compound annual growth rate (CAGR) of 11.71% from 2025 to 2034.
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United States – Key Oncology Market Drivers
🔸The U.S. oncology market is driven by a high and steadily growing cancer burden, particularly among an aging population, which fuels strong demand for innovative therapies.
🔸A well-developed biopharmaceutical ecosystem supports continuous innovation, with substantial investment in research, clinical trials, and drug development, especially in areas like immunotherapy, cell therapy, and precision oncology.
🔸The presence of leading pharmaceutical companies, world-class research institutions, and a robust intellectual property framework fosters a competitive and dynamic market environment.
🔸Fast-track regulatory pathways, such as the FDA’s Accelerated Approval and Breakthrough Therapy designations, enable quicker market entry for novel oncology drugs.
Is Asia Pacific Emerging as the Next Global Healthcare Powerhouse?
Asia Pacific is expected to expand notably during the forecast period, owing to better treatment access and increased focus on the development of modern healthcare infrastructure in recent years. Furthermore, the sudden increase in cancer patient cases due to lifestyle changes and dietary habits is likely to drive the industry's potential in the upcoming years. Also, the region has seen a heavy trend for the research hub and medical tourism in recent years.
China – Key Oncology Market Drivers
➢ China’s oncology market is experiencing rapid growth, driven by a rising incidence of cancer attributed to lifestyle changes, air pollution, smoking rates, and demographic aging.
➢ Government-led reforms have expanded universal healthcare access, making cancer treatments more affordable and accessible through policy mechanisms like the National Reimbursement Drug List (NRDL).
➢ Significant investment in local biotech and pharmaceutical sectors has accelerated the development of homegrown oncology drugs, particularly biosimilars and targeted therapies.
➢ China is increasingly positioning itself as a global center for clinical trials, with more international companies conducting research due to improvements in regulatory speed and trial infrastructure.
India – Key Oncology Market Drivers
➢ India’s oncology market is expanding due to a growing cancer burden, especially in urban areas where lifestyle-related cancers like breast cancer, colorectal, and lung cancer are on the rise.
➢ The country plays a crucial role in the global supply chain as a leading manufacturer of low-cost generic oncology drugs and biosimilars, making treatment more affordable domestically and internationally.
➢ Public health initiatives such as Ayushman Bharat have improved access to cancer diagnostics and treatment for underserved populations by covering tertiary care costs.
➢ Investments in healthcare infrastructure have led to the expansion of cancer care centers, mobile screening programs, and diagnostic services, especially in tier 2 and tier 3 cities.
Oncology Market Segmentation Analysis:
By Cancer Diagnostic and Treatment Analysis:
Why Did the Cancer Treatment Segment Dominate the Market in 2024?
The cancer treatment segment held the largest share of the oncology market in 2024, owing to increased adoption of treatments such as radiation, chemotherapy, and immunotherapy with targeted drugs in recent years. Furthermore, the nearfield advancements in drug developments and the new biologics are providing immense industry attention to the treatment segment in the past few years.
The cancer diagnostic segment is expected to grow at a significant rate during the predicted timeframe, owing to increased focus on early detection and preventative care in recent years. Moreover, technologies such as AI-based imaging and liquid biopsy have provided a huge industry share to the early diagnostic segment in recent times. Furthermore, individuals are actively considering the early diagnosis before the major treatment in the past few years, as per the recent industry survey.
Within this diagnostic landscape, the global cancer biopsy market plays a pivotal role. According to Precedence Research, demand for biopsy procedures—particularly liquid biopsy and minimally invasive techniques—is expanding rapidly as oncologists and patients prioritize early detection and precision medicine. These advancements not only improve diagnostic accuracy but also accelerate treatment planning, making biopsies a cornerstone of modern oncology care. The cancer biopsy market’s growth complements broader oncology market trends by bridging early diagnostics with targeted treatment pathways.
The global cancer biopsy market size surpassed USD 30.77 billion in 2024 and is predicted to grow 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.
Cancer Biopsy Market Key Takeaways
🔸North America led the global market with the highest market share of 47% in 2024.
🔸By type, the tissue biopsy segment is estimated to capture the biggest revenue share in 2024.
🔸By type, the liquid biopsy segment is anticipated to grow at a remarkable CAGR between 2025 and 2034.
🔸By product, the kits and consumables segment predicted to register the maximum market share of 61% in 2024.
🔸By application, the breast cancer segment is estimated to hold the highest market share in 2024.
Explore the full Cancer Biopsy Market Report to understand how innovations like liquid biopsy and AI-driven diagnostics are reshaping oncology care.
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By Indication Analysis:
How Lung Cancer Segment Maintains Its Dominance in the Current Industry?
The lung cancer segment held the largest share of the market in 2024 because it is one of the most commonly diagnosed and deadliest cancers worldwide, especially among smokers and people exposed to pollution. It often gets detected in later stages, requiring urgent and complex treatment. The high fatality rate and increasing global burden have pushed investments in lung cancer therapies and diagnostics.
The breast cancer segment is expected to grow at a notable rate during the predicted timeframe, due to rising awareness, regular screening programs, and improved survival rates when detected early. It is the most common cancer among women globally, and governments are prioritizing early diagnosis and treatment. Newer treatments like hormone therapy, targeted drugs, and personalized medicine are becoming more widely available.
By End Use Analysis:
Why Did the Hospital Segment Dominate the Market in 2024?
The hospital segment dominated the market with the largest share in 2024, because they are the primary centers for cancer diagnosis, surgery, chemotherapy, and inpatient care. Most cancer patients receive their treatments in hospitals due to the need for specialized equipment, expert oncologists, and 24/7 care. Hospitals also offer integrated services, including labs, imaging, surgery, and pharmacy under one roof.
➡️Related Topics You May Find Useful:
➢ Artificial Intelligence in Oncology Market: Explore how AI is transforming cancer diagnostics, imaging, and personalized treatment
➢ Oncology Combination Therapy Market: Examine the growing role of multi-drug regimens in improving cancer survival rates
➢ Oncology Information System Market: Understand how digital platforms are enhancing patient care and data-driven decisions
➢ Oncology Proteomics Market: Discover how proteomic profiling is unlocking precision medicine in cancer research
➢ Oncology Clinical Trials Market: Track global trial innovations driving faster approvals and breakthrough therapies
➢ Cancer IVD Market: Analyze the surge in demand for early detection and advanced diagnostic solutions
➢ Cancer Immunotherapy Market: See how checkpoint inhibitors and CAR-T therapies are reshaping oncology care
➢ Cancer Biomarkers Market: Learn how biomarker-driven strategies are powering personalized cancer treatments
➢ Cancer Immunotherapy Drug Discovery Outsourcing Market: Explore why outsourcing is accelerating novel cancer immunotherapy pipelines
➢ Cancer Gene Therapy Market: Gain insights into how gene-editing technologies are driving next-gen cancer care
Oncology Market Segmentation:
By Type
• Crohn's Disease
• Ulcerative Colitis
By Drug Class
• Aminosalicylates
• Corticosteroids
• TNF Inhibitors
• IL Inhibitors
• Anti-Integrin
• JAK Inhibitors
• Others
By Route of Administration
• Oral
• Injectable
By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
By Regions
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
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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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