Oncology-Cancer Drugs Market By Drug Class (Chemotherapy, Targeted Therapy, Immunotherapy (Biologic Therapy) , Hormonal Therapy) , By Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cance

Oncology-Cancer Drugs Market By Drug Class (Chemotherapy, Targeted Therapy, Immunotherapy (Biologic Therapy) , Hormonal Therapy) , By Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, Other Cancers) : Global Opportunity Analysis and Industry Forecast, 2024-2033

The global oncology-cancer drugs market was valued at $167.0 billion in 2023, and is projected to reach $335.2 billion by 2033, growing at a CAGR of 7.2% from 2024 to 2033.

The oncology/cancer drugs encompass pharmaceuticals specifically designed to diagnose, treat, and manage various types of cancer. These drugs target cancerous cells or interfere with processes involved in cancer growth and spread. It includes a wide array of therapeutic approaches, ranging from traditional chemotherapy to more targeted therapies like immunotherapy and precision medicine.

The global oncology-cancer drugs market is driven by rise in incidence of cancer globally due to aging population, lifestyle changes, and environmental exposures, which drives the demand for innovative therapies. This growing patient population highlights the need for continuous R&D efforts to address diverse cancer types and unmet medical needs. Furthermore, progress in the field of science and technology, specifically in disciplines such as molecular biology, genomics, and immunotherapy, are propelling substantial advancements in the development of cancer drugs. The rise of precision medicine strategies, which focus on specific molecular abnormalities that fuel cancer progression, is becoming increasingly prominent. This has resulted in the creation of more potent and less harmful therapies, fueling growth in the oncology drugs market.

However, high development costs of oncology drugs are extensive and costly, often requiring significant investments in preclinical studies, clinical trials, and regulatory approvals which limit the adoption of cancer drugs. Nevertheless, approval from regulatory authorities associated with new treatments and drugs is expected to create several opportunities for the market players. For instance, in October 2023, the U.S. Food and Drug Administration (FDA) approved several new treatments for a range of cancers over the summer. In July, the FDA approved a new indication for Jemperli (dostarlimab) in endometrial cancer. 

Segmentation Overview

The oncology-cancer drugs market is segmented into drug class type, indication, and region. Depending on drug class type, the market is categorized into chemotherapy, targeted therapy, immunotherapy (biologic therapy), and hormonal therapy. According to indication, it is divided into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer, and other cancers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

Depending on drug class type, the targeted therapy segment held the largest market share in 2023.

By indication, the breast cancer segment accounted for the highest share in the market in 2023.

Region wise, North America dominated the oncology-cancer drugs market in 2023.

Competitive Scenario

The major players operating in the oncology/cancer drugs market include AbbVie Inc., Amgen, Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novartis AG, and Pfizer Inc. Other players in oncology/cancer drugs market includes Bayer AG, Regeneron Pharmaceuticals Inc., and Eli Lilly and Company. These players have adopted several strategies, including partnerships, collaborations, and R&D to maintain their position in the competitive market.

Key Market Segments

By Drug Class

Chemotherapy
Targeted Therapy
Immunotherapy (Biologic Therapy)
Hormonal Therapy

By Indication

Lung Cancer
Stomach Cancer
Colorectal Cancer
Breast Cancer
Prostate Cancer
Liver Cancer
Esophagus Cancer
Cervical Cancer
Kidney Cancer
Bladder Cancer
Other Cancers

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
Feance
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
AbbVie Inc.
Amgen
Astellas Pharma Inc.
AstraZeneca plc
Bristol-Myers Squibb Company
F. Hoffmann-La Roche Ltd.
Johnson & Johnson
Merck & Co., Inc.
Novartis AG
Pfizer Inc.

Please Note: It will take 7-10 business days to complete the report upon order confirmation.