Austin, March 17, 2025 (GLOBE NEWSWIRE) -- Oncology Drugs Market Size & Growth Analysis:
According to SNS Insider, the global Oncology Drugs Market was valued at USD 202.30 billion in 2023, is expected to surpass USD 530.39 billion by 2032, growing at a CAGR of 11.34% over the forecast period 2024-2032. This growth is primarily attributed to significant advancements in targeted therapies and an increasing global prevalence of various cancer types.
The oncology drugs market has seen significant growth as a result of the increased prevalence of cancer globally, which has fueled greater demand for efficient treatment. Developments in biotechnology have given rise to targeted therapies and immunotherapies, providing more targeted and effective treatment modalities. Greater awareness and early detection have also seen treatment adoption rates increase. Pharmas are strongly investing in research and development, which resulted in a strong pipeline of novel oncology products. Partnerships among biotech companies and research organizations are also driving the launch of new therapies into the market. Nevertheless, issues like the high cost of treatment and strict regulatory guidelines can hamper the growth of the market. However, continued efforts at improving the affordability of drugs and streamlining the approval process should help counteract these issues during the forecast period.
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Key Oncology Drugs Companies Profiled:
- F. Hoffmann-La Roche Ltd. – Avastin, Herceptin, Tecentriq, Perjeta, Kadcyla, Alecensa, Rozlytrek
- AbbVie Inc. – Venclexta, Imbruvica, Empliciti
- Novartis AG – Kymriah, Kisqali, Tabrecta, Scemblix, Jakavi, Tafinlar, Mekinist
- Pfizer Inc. – Ibrance, Lorbrena, Talzenna, Inlyta, Xtandi, Besponsa, Daurismo
- Bristol Myers Squibb Company – Opdivo, Yervoy, Revlimid, Pomalyst, Breyanzi, Abecma, Reblozyl
- GlaxoSmithKline plc. – Zejula, Jemperli, Blenrep
- Eli Lilly and Company – Verzenio, Cyramza, Retevmo, Jaypirca
- AstraZeneca – Tagrisso, Imfinzi, Lynparza, Enhertu, Calquence
- Sanofi – Sarclisa, Libtayo, Jevtana
- Bayer AG – Stivarga, Nubeqa, Xofigo, Vitrakvi
- Merck & Co., Inc. – Keytruda, Welireg, Tepmetko
Oncology Drugs Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 202.3 billion |
| Market Size by 2032 | US$ 530.39 billion |
| CAGR | CAGR of 11.34% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Oncology Drugs Market Segmentation Insights
By Drug Class
The targeted drugs segment dominated the oncology drugs market in 2023 with over 48.9% market share. This is a result of their capacity to selectively target cancer cells, reducing harm to normal tissues and leading to better patient outcomes. These treatments are now the cornerstone of contemporary oncology treatment regimens, providing personalized therapy options that increase efficacy while limiting side effects.
By Therapy
Targeted therapy became the top segment in 2023, controlling more than 46.7% of the total market. This is because it is so specific in destroying cancer cells but leaving normal cells intact, and hence patient tolerability and response are improved. Immunotherapy will be the highest-growing segment in the forecast period, thanks to its ability to exploit the immune system of the body to attack cancer, bringing long-term survival and remission advantages.
By Indication
The 'other' segment, which includes uncommon and virulent cancers, held over 30.5% of the market in 2023, highlighting the demand for heterogeneous therapeutic options for different cancer types. The breast cancer category is anticipated to register the highest growth, propelled by rising incidence rates and progress in targeted therapies specifically tailored to breast cancer subtypes.
By Dosage Form
Injectables retained their position as the top in 2023, with more than 56.7% market share, attributed to their fast bioavailability and the ability to deliver chemotherapy and biologic drugs directly into the circulation system. Solid dosage forms, such as capsules and tablets, are expected to experience modest growth, providing ease of use and enhancing patient compliance, particularly in maintenance therapy applications.
By Distribution Channel
Hospital pharmacies led the market in 2023, with a share of more than 64.5% of the total market, as they are the first points of dispensing for oncology drugs that need special handling and administration. The segment of online pharmacies will expand at the highest rate, fueled by the growing use of digital health platforms and the ease of home delivery services.
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Key Segments:
By Drug Class
- Cytotoxic Drugs
- Targeted Drugs
- Hormonal Drugs
- Others
By Therapy
- Chemotherapy
- Targeted Therapy
- Immunotherapy
- By Indication
- Lung Cancer
- Stomach Cancer
- Colorectal Cancer
- Breast Cancer
- Prostate Cancer
- Others
By Dosage Form
- Solid
- Liquid
- Injectable
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Recent Developments
- Sun Pharma in March 2025 acquired U.S.-based Checkpoint Therapeutics for USD 355 million. The strategic acquisition is to enhance Sun Pharma's oncology and immunotherapy portfolio by adding Checkpoint's FDA-approved advanced skin cancer treatment, UNLOXCYT.
- In February 2025, the FDA approved Datroway (datopotamab deruxtecan), a targeted chemotherapy treatment for adults with unresectable or metastatic hormone receptor-positive, HER2-negative breast cancer who have previously received therapies. Datroway, an antibody-drug conjugate, targets chemotherapy directly to cancer cells with minimal systemic side effects.
- AstraZeneca announced in February 2025 encouraging preliminary results from a late-stage trial of its breast cancer medicine, Camizestrant, in the treatment of advanced breast cancer. The trial revealed considerable patient progression-free survival, underpinning AstraZeneca's plan to effectively double its revenue through 2030.
Statistical Insights and Trends Reporting
- In 2023, 20.1 million new cancer cases were estimated globally, with lung, breast, and colorectal cancers accounting for the highest numbers.
- There has been a growing burden of cancer that has fueled demand for new and targeted oncology drugs.
- More than 40% of oncology prescriptions globally were in North America as a result of established healthcare infrastructure and favorable reimbursement policies.
- The Asia-Pacific region experienced a sharp increase in prescriptions, mainly due to increasing healthcare access and increased awareness of cancer.
- The Asia-Pacific oncology drug market is expected to exhibit the highest volume growth in drugs by 2032.
- There will be rising demand for personalized medicine and biologics propelling the oncology drug sale growth.
- Around 50% of oncology drug spending was government-funded in cancer treatment programs in North America.
- Highest spending on cancer drugs was out-of-pocket in the developing world, affecting patient affordability of new drugs.
- Immunotherapies should contribute to about 30% of total sales of oncology drugs by the year 2032.
- The development of combination regimens of immunotherapy is predicted to reshape therapy strategies for many types of cancers.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence of Cancer (2023)
5.2 Oncology Drug Prescription Trends (2023), by Region
5.3 R&D Investments in Oncology Drug Development (2023)
5.4 Patient Access and Treatment Adherence Trends
5.5 Oncology Drug Pricing Trends and Market Access (2023-2032)
5.6 Healthcare Spending on Oncology Drugs, by Region (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Oncology Drugs Market by Drug Class
8. Oncology Drugs Market by Therapy
9. Oncology Drugs Market by Indication
10. Oncology Drugs Market by Dosage Form
11. Oncology Drugs Market by Distribution Channel
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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