USD 136.6 Billion
Cancer Therapeutics Market Size, Share, Growth Analysis, By Cancer Type(Blood Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Others), Therapy Type(Chemotherapy, Targeted Therapy,Immunotherapy Hormonal Therapy), Top Selling Drugs, End-User, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2214 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
112
|Figures:
76
Cancer Therapeutics Market Insights
Global Cancer Therapeutics Market size was valued at USD 136.6 Billion in 2022 and is poised to grow from USD 149.02 Billion in 2023 to USD 299.13 Billion by 2031, at a CAGR of 9.1% during the forecast period (2024-2031).
The global cancer therapeutics market was experiencing significant growth and evolution. The market's expansion was driven by several factors, including increasing cancer prevalence, advancements in medical technology, rising awareness of early diagnosis and treatment, and a growing aging population susceptible to cancer. One of the key drivers was the continuous development of innovative cancer therapies, such as immunotherapies, targeted therapies, and personalized medicine. These therapies have shown promising results in treating various cancer types and have significantly improved patient outcomes and survival rates. Additionally, the pharmaceutical industry's extensive research and development efforts in oncology have led to the approval of several new drugs, enhancing the overall treatment landscape. Furthermore, governments and healthcare organizations around the world have been actively investing in cancer research and promoting access to affordable and effective cancer treatments.
Based on SkyQuest Analysis, NCI established an initiative, The RAS Initiative, to develop effective therapies for tumours that contain mutations in member of RAS family of oncogenes. The genes are mutated in approximately 1/3rd of all cancers.
This has led to the expansion of healthcare infrastructure and improved reimbursement policies, making cancer therapeutics more accessible to a larger population. Despite the positive trends, the global cancer therapeutics market faces some challenges. One of the major obstacles is the high cost associated with cancer treatments. Many of the novel therapies are expensive, making them unaffordable for a significant portion of the global population. This economic burden often leads to disparities in cancer care and limits access to cutting-edge treatments for those in less economically developed regions. Another challenge is the complex and lengthy regulatory approval process for new cancer drugs. The stringent requirements and extensive clinical trials necessary for drug approval can hinder the timely introduction of life-saving treatments to the market, delaying potential benefits to patients. Moreover, cancer heterogeneity and resistance remain significant hurdles in achieving complete remission and long-term survival in many cancer types. Developing effective treatments that can address these challenges requires ongoing research and collaboration between academia, industry, and regulatory bodies.
US Cancer Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lung cancer
Fastest Growth
Blood cancer
Growth Rate
9.1% CAGR
Global Cancer Therapeutics Market ($ Bn)
Country Share for North America Region (%)
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Cancer Therapeutics Market Segmental Analysis
The global cancer therapeutics market is segmented based on application, top selling drugs, end-user and region. In terms of application, the market is segmented into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, head and neck cancer, glioblastoma, malignant meningioma, mesothelioma, melanoma, and others. Based on top selling drugs, the market is segmented into revlimid, avastin, herceptin, rituxan, opdivo, gleevec, velcade, imbruvica, ibrance, zytiga, alimta, xtandi, tarceva, perjeta, temodar, and others. Based on end-user, the market is segmented into hospitals, specialty clinics, cancer and radiation therapy centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By End-user
The hospitals segment has emerged as largest market segment by end user within the global cancer therapeutics market. This segment dominates due to their large number of cancer treatment facilities. Hospitals have advanced diagnostic tools, surgical capabilities and multidisciplinary officials. They are the fundamental Center for cancer patients which offer many therapy options that is chemotherapy, radiotherapy, targeted therapy, and others. These provide advanced treatment technologies which makes them a preferred choice for the patients, therefore contributing to their dominance.
On the other hand, cancer and radiation therapy centres therapy is the fastest-growing segments by end user within the global cancer therapeutics market. The therapy centres provide cancer treatments such as advanced radiation therapy, personalized treatment plans which aligns with the requirement of the patient. Because their high-quality care and in person treatment patients are increasingly looking for treatments in these centres. Due to the rise in demand for specialized cancer treatments, the cancer and radiation therapy centres are expected to have rapid growth, contributing towards market expansion.
Analysis By Application
By cancer type, the lung cancer segment emerged as the dominant segment within the market. Lung cancer has established itself as a dominant application in the cancer therapeutics market due to its high prevalence and significant impact on global health. It is one of the major causes of cancer-related deaths worldwide, and it presents a substantial healthcare burden. Treatment options for lung cancer encompass a wide range of therapies, including surgery, radiation therapy, chemotherapy, targeted therapy, and immunotherapy. The development of targeted therapies, especially for specific genetic mutations in non-small cell lung cancer (NSCLC), has significantly improved outcomes for certain patient subgroups.
On the other hand, blood cancer, including leukaemia, lymphoma, and myeloma, is one of the fastest-growing segments in the cancer therapeutics market. The rising incidence of blood cancers, along with continuous advancements in treatment options, has fueled the growth of this segment. Treatments for blood cancer include chemotherapy, radiation therapy, stem cell transplantation, targeted therapy, and immunotherapy. In recent years, the emergence of novel immunotherapies, particularly CAR-T cell therapy, has revolutionised the treatment landscape for certain types of blood cancer. CAR-T cell therapy involves genetically engineering a patient's T cells to recognize and attack cancer cells, resulting in remarkable response rates and prolonged remissions in some cases. The success of CAR-T cell therapy has propelled blood cancer treatment into a new era of precision medicine and personalised therapy.
Global Cancer Therapeutics Market By Application
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Cancer Therapeutics Market Regional Insights
North America is the largest region in the cancer therapeutics market. North America, comprising the United States and Canada, holds a dominant position in the global cancer therapeutics market. This dominance can be attributed to several factors, including a high prevalence of cancer, well-established healthcare infrastructure, a strong emphasis on research and development, and a favourable regulatory environment. North America is home to some of the world's leading pharmaceutical and biotechnology companies, continuously investing in oncology research to develop innovative and effective cancer therapies. Additionally, the region has witnessed significant advancements in precision medicine and personalised treatment approaches, further contributing to its dominant position in the market.
On the other hand, the Asia-Pacific region is one of the fastest-growing markets for cancer therapeutics. The rising incidence of cancer, increasing awareness of early diagnosis and treatment, and improving healthcare infrastructure are some of the factors driving this growth. In recent years, countries in the Asia-Pacific region, including China, India, Japan, and South Korea, have witnessed significant investments in oncology research and development, as well as clinical trials for novel cancer therapies. Moreover, the availability of cost-effective manufacturing capabilities in the region has enabled better access to cancer treatments for patients, leading to the overall growth of the market in Asia-Pacific.
Global Cancer Therapeutics Market By Region
- Largest
- Fastest
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Cancer Therapeutics Market Dynamics
Cancer Therapeutics Market Drivers
Rising Cancer Prevalence Drives Market Growth
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The increasing incidence of cancer worldwide is a significant driver for the growth of the cancer therapeutics market. Factors such as an aging population, lifestyle changes, and environmental exposures contribute to the higher prevalence of various cancer types, creating a growing demand for effective treatment options. This led towards the rise in the developments of cancer therapies, therefore driving the market.
Advancements in Medical Technology Grabs Patient's Attention
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Technological advancements in genomics, proteomics, and molecular diagnostics have enabled better understanding of cancer biology. This knowledge has led to the development of targeted therapies and personalised medicine, improving treatment outcomes and reducing side effects. In the coming years, it seems the advancement in medical technology will be the dominating driver for the global cancer therapeutics market.
Restraints
High Cost of Cancer Treatments Hampers Growth
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High cost of cancer treatment is the main restraint for this market. Many cancer therapies, especially targeted therapies and immunotherapies are expensive. The high cost of treatment can limit access for patients in low-income regions and contribute to financial burden, both for individuals and healthcare systems. This leads towards hindering the growth of the market.
Side Effects and Toxicity Causing Discomfort
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While cancer therapies have made significant progress in reducing side effects, some treatments, such as chemotherapy, can still cause adverse reactions and toxicity. The potential for severe side effects may impact patient compliance and quality of life during treatment. For ensuring that people can adhere to the treatments, there must be lowering in discomfort which is a major aspect of ongoing treatments.
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Cancer Therapeutics Market Competitive Landscape
The global cancer therapeutics market is highly competitive and constantly evolving, with numerous pharmaceutical and biotechnology companies driving innovation in cancer treatment. Major players in the market are investing heavily in oncology R&D, focusing on novel drug candidates and innovative treatment modalities. These companies often collaborate with academic institutions and research organisations to explore new avenues for cancer treatment. Additionally, startups bring fresh perspectives and cutting-edge technologies to the market. The intense competition in the global cancer therapeutics market is ultimately beneficial for patients, as it fosters a dynamic environment that drives advancements in treatment options, improves patient outcomes, and brings new hope to those affected by cancer.
Cancer Therapeutics Market Top Player’s Company Profile
- Roche Holding AG (Switzerland)
- Novartis AG (Switzerland)
- Merck & Co., Inc. (USA)
- Pfizer Inc. (US)
- AstraZeneca plc (UK)
- Bristol Myers Squibb Company (USA)
- AbbVie Inc. (USA)
- Amgen Inc. (USA)
- GlaxoSmithKline plc (United Kingdom)
- Eli Lilly and Company
- Takeda Pharmaceutical Company Limited (Japan)
- Sanofi S.A. (France)
- Gilead Sciences, Inc. (USA)
- Bayer AG (Germany)
- Johnson & Johnson USA
- AbilityPharma (Spain)
- Adcendo (Denmark)
- Beroni Group (Australia)
- BioAtla (USA)
- Astellas Pharma Inc. (Japan)
Cancer Therapeutics Market Recent Developments
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In May 2024, FDA grants approval 2 Eli Lilly’s Retevmo for treating patriotic patients two years and older with RT positive thyroid cancer other solid tumors that carry mutation.
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In January 2023, Roche received FDA approval for Tecentriq (atezolizumab) in combination with chemotherapy for the first-line treatment of patients with metastatic non-small cell lung cancer (NSCLC) with PD-L1 expression of at least 1%.
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In February 2023, AstraZeneca received FDA approval for trastuzumab deruxtecan-bwbv (Enhertu) for the treatment of patients with HER2-positive metastatic breast cancer who have received at least two prior systemic therapies.
Cancer Therapeutics Key Market Trends
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Development of Biosimilars: With several biologics used in cancer treatment coming off-patent, there has been an increase in the development and approval of biosimilars. Biosimilars offer cost-effective alternatives to expensive cancer biologics, increasing patient access to treatment. Therefore, seeking the attention of the large customer base due to the cost-effective market and driving the growth.
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Personalized Cancer Vaccines: The development of personalised cancer vaccines is a promising area of research. These vaccines are tailored to individual patients based on their tumour's genetic profile, potentially offering a more targeted and effective treatment approach. Thus, providing efficiency in the treatment and in-person care, together contributing to the expansion of the market.
Cancer Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global cancer therapeutics market analysis, the Global Cancer Therapeutics Market continues to witness significant growth and evolution, driven by several factors that are shaping the landscape of cancer treatment worldwide. Rising cancer prevalence, fuelled by factors like an aging population and lifestyle changes, remains a key driver, creating a growing demand for effective therapies. Advancements in medical technology, including genomics and molecular diagnostics, have enabled the development of targeted therapies and personalised medicine, leading to better treatment outcomes and reduced side effects. Immunotherapies, particularly immune checkpoint inhibitors and CAR-T cell therapy, have emerged as game-changers in cancer treatment, offering new hope for patients with previously limited options. Lung cancer is having the highest share whereas the blood cancer segment is growing at a quick pace. North America's dominant position is likely to be sustained due to its strong research and development infrastructure, while the Asia-Pacific region's fast-paced growth will be driven by its growing healthcare investments and the increasing adoption of cutting-edge cancer therapies. One significant trend is the personalized cancer vaccines. Precision medicine and combination therapies are gaining momentum, aiming to enhance treatment efficacy and overcome drug resistance. The market also sees a surge in the development and approval of biosimilars, increasing patient access to costly biologics.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 136.6 Billion |
| Market size value in 2031 | USD 299.13 Billion |
| Growth Rate | 9.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cancer Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cancer Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cancer Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cancer Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cancer Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cancer Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Cancer Therapeutics Market Report Snapshots
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