The market growth is driven by the rising incidences of cancer, continuous advancements in therapies and increased access to affordable cancer treatments. Manufacturers are focused on expanding product pipelines of innovative therapies and treatments.
Oncology drugs are a branch of medicine that specializes in the treatment and diagnosis of cancer. It not only kills rapidly growing cancerous cells but also kills or reduces the growth of healthy cells that grow and divide rapidly. Based on their mechanisms of action, they are classified in various groups, such as antimetabolite agents, alkylating substrates, mitotic inhibitors, inhibitors of topoisomerase I and II, anti-tumour antibiotics, and corticosteroids.
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Oncology Drugs Market Highlights:
· North America led the global market in 2024.
· Asia Pacific is projected to expand at a notable CAGR during the forecast period.
· The hormone replacement therapy (HRT) segment contributed the highest market share in 2024.
· The specialty drugs segment is estimated to be the fastest-growing segment during the forecast period.
· The targeted therapy segment captured the biggest market share in 2024.
· The immunotherapy segment is expected to grow at a significant CAGR from 2025 to 2034.
· The lung cancer segment contributed the highest market share in 2024.
· The breast cancer segment is estimated to be the fastest-growing segment during the forecast period from 2025 to 2034.
Market Overview and Industry Potential
Increasing rates of cancer due to various reasons, such as obesity, extremely processed foods, and sedentary lifestyles, along with a growing aging population, environmental pollution, and use of tobacco, contribute to this trend. The most cancers mortality rate leftovers high because of delayed diagnosis, lack of awareness, and restricted access to advanced treatment in remote areas, which increases the demand for cancer drugs.
The various medical institutions offer early diagnostic solutions, advanced management of cancer alternatives, along with surgery, chemotherapy, radiation therapy, and personalised care plans for cancer patients. Increasing public health campaigns which aware among people beings approximately the early signs of most cancers, the significance of regular check-ups, and way of life adjustments are key within the fight against cancer; these factors contribute to the growth of the market.
Latest Trends of the Market
·
In March 2025, DAE developed and launched
several radio-pharma products. BARC has been continuously working towards
ensuring an uninterrupted supply of radioisotopes and radiopharmaceuticals in
the country through its research reactors. BARC is constantly carrying out
research to develop novel radiopharmaceuticals for cancer care and has achieved
the indigenization of clinically established radiopharmaceuticals and allied
products at a low cost.
· In February 2025, Pradhan Mantri Bhartiya Jnanasiddhi Pari yojana initiative in which a total of 15,057 PMBJKs have been opened across India, providing quality generic medicines at affordable prices. The scheme includes 2,047 types of medicines and 300 surgical devices, with 87 products specifically available for cancer treatment.
Transformation of Prenatal Health Through Genomics: Market’s Largest Potential
Increasing government support for cancer drug manufacturing and developing cheaper, easily operational scanners that will support physicians in identifying early symptoms of cancers and eradicate tumours with superior success. Government introduces advance tools that could be more readily available than those presently in use in the NHS. The government is also driving forward personalised treatments for cancer patients who are receiving immunotherapy, using their immune system to detect and attack cancer cells, which contributes to the growth of the market.
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Report Scope of Oncology Drugs Market
|
Report Coverage |
Details |
|
Market Size in 2025 |
USD 192.63 Billion |
|
Market Size by 2034 |
USD 366.24 Billion |
|
Growth Rate From 2025 to 2034 |
CAGR of 7.4% |
|
Base Year |
2024 |
|
Forecast Period |
2025-2034 |
|
Segments Covered |
By Drug Class, By Indication, By Regional |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
|
Key Companies Profiled |
Amgen, AstraZeneca, AbbVie Inc., ARIAD Pharmaceuticals, Inc. , Astellas Pharma Inc., Bayer Healthcare AG, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, CELGENE CORPORATION, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., Teva Pharmaceuticals Industries |
Oncology Drugs Market Segmentation Analysis:
By Drug Class Analysis:
Targeted therapy dominated the genomics market, as various types of targeted therapy support to management of cancer by interfering with particular proteins that help tumors spread and grow through the body. It's the potential to tailor treatment to the individual characteristics of a patient’s cancer. By targeting particular molecules, targeted therapy interferes with the mechanisms that drive the growth of cancer, eventually leading to the destruction of cancer cells and therefore controlling the disease.
On the other hand, the immunotherapy segment is expected to grow significantly during the forecast period, as immunotherapy is a groundbreaking treatment that dynamically modifies the immune system to attack cancer cells in multiple directions and targets. Immunotherapy is significantly used to toughen the immune system by regulating the immune microenvironment, so that immune cells attack and clear cancer cells at numerous important nodes. Immunotherapy provides a superioe chance of curing resistant cancer.
By Indication Analysis:
The lung cancer segment held the largest share of the oncology drug market in 2024, as lung cancer is considered as third most common cancer. It’s caused by the unwanted growth of cells in the lungs. These cancer treatments comprise surgery, chemotherapy, immunotherapy, radiation, and targeted drugs. In 2024, around 235,000 people in the United States were diagnosed with lung cancer, and 125,000 will die from the disease. Lung cancer is the leading cause of cancer death in men and women aged 50 years and older.
On the other hand, the breast cancer segment is expected to grow at a notable rate, as breast cancer is the most common cancer identified in women, accounting for more than 1 in 10 new cancer diagnoses per year. It is the second most common cancer in women after skin cancer. In 2024, around 310,720 new cases of invasive breast cancer were diagnosed in US women, and 42,250 women died from breast cancer.
Oncology Drugs Market Key Regional Analysis:
North America dominated the global oncology drugs market due to growing investment in anticancer therapies is largely because of high launch prices of new cancer therapeutics and price increases of present products, which drives the growth of the market. The increasing number of new cancer incidence cases generally increases each year because the U.S. population is aging and growing, increasing the demand for treatment. The presence of advanced healthcare infrastructure, such as developed hospitals and a cancer research centre, supports widespread cancer drug adoption. There are 73 NCI-designated cancer centers in North America, located in 37 states and the District of Columbia, that are funded by NCI to deliver modern cancer treatments to patients.
· For Instance, In May 2025, the Food and Drug Administration approved belzutifan for adult and pediatric patients 12 years and older with locally advanced, unresectable, or metastatic pheochromocytoma or paraganglioma (PPGL). This represents the first FDA approval of an oral therapy for PPGL.
In recent years, in the United States growing incidence of cancer, for instance, in 2024, 2,001,140 new cancer cases and 611,720 cancer deaths are projected to occur in the United States, which enhances options of treatment in both the adjuvant and metastatic settings, driving the cancer drugs market growth. The United States has long led the world in cancer research and development. The U.S. has spent more on cancer research than any other country, with more than US$7.2 billion per year through the National Cancer Institute alone, which contributes to the growth of the market.
Asia-Pacific is expected to exhibit the fastest growth during the forecast period.
The Asia Pacific region is compactly populated, accounting for 60 % of the people in the world. The population comprises many treatment-naïve patients who may be eligible and eager to enroll in clinical trials for access to new treatments. Countries in the Asia Pacific, such as Thailand, China, Malaysia, and Turkey, essential to begin organized efforts to lessen cancer deaths by conducting state-wide programs of cancer screening. Fast economic growth in this Asia Pacific country has also allowed it to invest in health infrastructure and cancer care, which drives the growth of the oncology drugs market.
· For Instance, In March 2025, Tata Memorial Centre (TMC), a grant-in-aid institution under the Department of Atomic Energy, Government of India and The International Atomic Energy Agency (IAEA) signed a Memorandum of Understanding (MoU), recognizing TMC as an "Anchor Centre" for IAEA’s Rays of Hope initiative.
Related Report
· Cancer/Oncology Drugs Market- https://www.precedenceresearch.com/cancer-drugs-market
· Oncology Market- https://www.precedenceresearch.com/oncology-market
· Oncology Proteomics Market- https://www.precedenceresearch.com/oncology-proteomics-market
· Non-Oncology Precision Medicine Market- https://www.precedenceresearch.com/non-oncology-precision-medicine-market
· Artificial Intelligence (AI) In Oncology Market- https://www.precedenceresearch.com/artificial-intelligence-in-oncology-market
Oncology Drugs Market Companies:
· Amgen
· AstraZeneca
· AbbVie Inc.
· ARIAD Pharmaceuticals, Inc.
· Boehringer Ingelheim International GmbH
· Bristol-Myers Squibb Company
· CELGENE CORPORATION
· Eli Lilly and Company
· F. Hoffmann-La Roche Ltd.
· GlaxoSmithKline
· Johnson & Johnson
· Merck & Co., Inc.
· Novartis AG
· Pfizer Inc.
· Teva Pharmaceuticals Industries
What is Going Around the Globe?
·
On May 14, 2025, AbbVie announced that EMRELIS
has been granted accelerated approval by the U.S. Food and Drug Administration
(FDA) for the treatment of adult patients with locally advanced or metastatic,
non-squamous non-small cell lung cancer (NSCLC) with high c-Met protein
overexpression (OE) who have received a prior systemic therapy. High c-Met
protein overexpression is defined as ≥ 50% of tumor cells with strong (3+)
staining as determined by an FDA-approved test.
·
In February 2025, CancerX, a public-private
partnership designed to accelerate innovation in the fight against cancer,
announced the launch of its 2025 Accelerator cohort, featuring an incredible
group of digital health and artificial intelligence startups dedicated to
addressing complex challenges in oncology.
· In June 2025, the IAEA and UK social enterprise MedAccess launched a partnership under the Rays of Hope, Cancer Care for All initiative. This collaboration will focus on evolving innovative financing solutions to improve access to cost-effective, high-quality radiation medicine services in low- and middle-income countries.
Segments Covered in the Report
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 Region
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
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