Dublin, July 25, 2025 (GLOBE NEWSWIRE) -- The "Oncology Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2032" has been added to ResearchAndMarkets.com's offering.
The oncology drugs market is forecasted to grow steadily, reaching USD 364.81 billion by 2032 from USD 215.32 billion in 2024, driven by the escalating global cancer burden and advances in drug development.
The demand for oncology drugs stems from factors such as aging populations, lifestyle changes, and increased environmental exposures, contributing to the rising incidence of cancer. This trend is spurring innovative treatments, especially in targeted therapies and immunotherapies, which offer precise treatment options with fewer side effects compared to traditional chemotherapy.
Market Dynamics
GLOBOCAN in 2024 reported 20 million new cancer cases worldwide in 2022, with an expected increase to 32.6 million by 2045. This surge reflects a critical need for effective oncology solutions. Immunotherapy is emerging as a leading segment, leveraging the immune system to achieve better patient outcomes with reduced side effects. Notable progress is observed in treatments for melanoma, lung cancer, and lymphoma, where durable responses have been recorded.
Contributing to this pattern, underlying health issues like obesity are significantly raising cancer risk. By 2030, global obesity prevalence is expected to impact cancer incidence heavily. Consequently, the call for effective oncology treatments is intensifying, prompting a swift response from governments and health organizations through campaigns on cancer awareness and preventive measures.
Biotech firms and pharmaceutical companies are responding with enhanced R&D efforts. For instance, AbbVie's EMRELIST received accelerated U.S. FDA approval in 2025 for non-squamous NSCLC treatment, demonstrating ongoing innovation in addressing unmet clinical needs. Despite these advances, the oncology drugs market faces challenges such as high costs and treatment safety concerns.
Segment Analysis
The immunotherapy category is projected to hold the largest market share in 2024, supported by its clinical advantages over traditional therapies. Immunotherapies can offer long-term protection against cancer recurrence due to their ability to engage the immune response. Recent product launches, like Roche's Tecentriq Hybryza, underline the growth trajectory for this market segment.
Regional Insights
North America is expected to dominate the oncology drugs market by holding the largest share in 2024. This leadership is driven by high cancer prevalence, substantial research investments, and a robust clinical trial landscape. Additionally, partnerships and collaborative efforts are accelerating market growth. For example, in June 2025, BioNTech and Bristol Myers Squibb embarked on a collaboration to co-develop BNT327, targeting solid tumors.
Key Market Players
Major players in the oncology drugs market include Johnson & Johnson Services, AbbVie Inc., Bristol-Myers Squibb, AstraZeneca, Pfizer Inc., and others. These companies are at the forefront of oncology innovation and therapeutic development, aiming to meet the growing demand for effective cancer therapies.
Recent Developments
In 2025, Merck's KEYTRUDA gained FDA approval for treating head and neck squamous cell carcinoma. Similarly, Johnson & Johnson's RYBREVANT combined with LAZCLUZET received FDA approval for NSCLC treatment in 2023, signifying continual progression in cancer treatment options.
The oncology drugs market is poised for growth, with intensive R&D activities, increased approval rates, and enhanced therapeutic offerings. With North America leading the charge, the market is set to expand, addressing the global demand for innovative cancer treatment solutions and creating opportunities for existing and emerging players.
Key Topics Covered:
1. Oncology Drugs Market Report Introduction
- 1.1. Scope of the Study
- 1.2. Market Segmentation
- 1.3. Market Assumption
2. Oncology Drugs Market Executive Summary
- 2.1. Market at Glance
3. Competitive Landscape
4. Regulatory Analysis
- 4.1. The United States
- 4.2. Europe
- 4.3. Japan
- 4.4. China
5. Oncology Drugs Market Key Factors Analysis
- 5.1. Oncology Drugs Market Drivers
- 5.2. Oncology Drugs Market Restraints and Challenges
- 5.3. Oncology Drugs Market Opportunity
6. Oncology Drugs Market Porter's Five Forces Analysis
- 6.1. Bargaining Power of Suppliers
- 6.2. Bargaining Power of Consumers
- 6.3. Threat of New Entrants
- 6.4. Threat of Substitutes
- 6.5. Competitive Rivalry
7. Oncology Drugs Market Assessment
- 7.1. By Therapy Type
- 7.2. By Modality
- 7.3. By Route of Administration
- 7.4. By Indication
- 7.5. By Distribution Channel
- 7.6. By Geography
8. Oncology Drugs Market Company and Product Profiles
9. KOL Views
10. Project Approach
Companies Featured
- Johnson & Johnson Services, Inc.
- Amneal Pharmaceuticals LLC
- Bristol-Myers Squibb Company
- GSK plc
- Teva Pharmaceutical Industries Ltd.
- AstraZeneca
- AbbVie Inc.
- F. Hoffmann-La Roche Ltd.
- Merck & Co., Inc.
- Sanofi, Novartis AG
- Pfizer Inc.
- Amgen Inc.
- Eli Lilly and Company
- Astellas Pharma Inc.
- DAIICHI SANKYO COMPANY, LIMITED
- Takeda Pharmaceutical Company Limited
- Gilead Sciences, Inc.
- BeOne Medicines Ltd.
- ImmunityBio, Inc.
For more information about this drug pipelines report visit https://www.researchandmarkets.com/r/oiignj
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