North America Cancer Therapy Market Size Set Expands at Significant CAGR of 8.15% During 2024–2030 to Reach USD 5.87 Billion by 2030
North America Cancer Therapy Market is flourishing due to advancements in technology and a surge in applications across various cancer forms. Increasing awareness and collaborations with NPOs, the increasing cases are contributing to the dynamic expansion of the North America Cancer Therapy Market.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the North America Cancer Therapy Market size at USD 3.20 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the North America Cancer Therapy Market size to expand at a CAGR of 8.15% reaching a value of USD 5.87 billion by 2030. The increasing incidence of cancer cases in North America is a significant driver for the growth of the cancer therapy market. As the population ages and lifestyles change, the number of cancer diagnoses continues to rise. Advances in medical technology and diagnostic tools contribute to early detection of cancer, leading to more effective treatment options. Innovative therapies such as immunotherapy and targeted therapies are becoming more prevalent. Robust research and development activities by pharmaceutical and biotechnology companies drive the development of new cancer therapies. Investment in clinical trials and the discovery of novel treatment options contribute to market growth.
Opportunity: Increasing clinical trials and research
Increasing clinical trials and research in the field of cancer therapy play a crucial role in advancing our understanding of the disease and developing more effective treatment options. Clinical trials provide a platform for testing novel therapeutic approaches, including new drugs, targeted therapies, and immunotherapies. Clinical trials contribute to the development of personalized medicine by investigating treatments that are tailored to the specific genetic or molecular characteristics of an individual's cancer. This approach aims to enhance treatment efficacy while minimizing side effects.
Impact of Geopolitical Tensions on North America Cancer Therapy Market
Geopolitical tensions, notably between India and China, have significantly impacted the growth of the North America Cancer Therapy market. Geopolitical tensions can lead to disruptions in international collaborations and hinder the free flow of information, which may affect research and development activities. Geopolitical tensions may impact the global supply chain for pharmaceuticals, including cancer therapies. Interruptions in the supply chain can lead to shortages of critical drugs or components needed for the production of cancer treatments. Trade tensions and tariffs between countries can increase the cost of importing and exporting pharmaceuticals and medical equipment. Elevated costs may potentially be passed on to consumers, impacting the affordability of cancer therapies. Geopolitical tensions can lead to changes in regulatory environments and approval processes. Regulatory uncertainties may affect the timely approval of new cancer therapies, impacting market access and availability for patients.
North America Cancer Therapy Market
Segmental Information
North America Cancer Therapy Market – By Therapy Type
Based on therapy type, the North America Cancer Therapy market is segmented into chemotherapy, radiation therapy, hormonal therapy, targeted therapy and others. The chemotherapy segment is expected to hold a significant share of the market during the forecast period owing to its distinct advantages in as it is a widely used form of cancer therapy that involves the use of drugs to kill or inhibit the growth of cancer cells. While it has its limitations and potential side effects, chemotherapy offers several advantages in the treatment of cancer. Chemotherapy can be used as adjuvant therapy, administered after primary treatments like surgery or radiation. This helps eliminate any remaining cancer cells and reduces the risk of cancer recurrence. Chemotherapy is used to treat a wide range of cancer types, including leukemia, lymphoma, breast cancer, lung cancer, and many others. Its versatility makes it an essential component of cancer treatment.
North America Cancer Therapy Market – By Cancer Type
Based on cancer type, the North America Cancer Therapy market is segmented into breast cancer, lung cancer, prostate cancer, blood cancer and others. During the forecast period, the breast segment is anticipated to hold a significant market share. The treatment for breast cancer often involves a combination of therapies, which may include surgery, chemotherapy, radiation therapy, hormone therapy, targeted therapy, and immunotherapy. The choice of treatment depends on various factors, including the stage of the cancer, the type of breast cancer, hormone receptor status, HER2 status, and the overall health of the patient.
North America Cancer Therapy Market – By End Use
Based on End Use, the North America Cancer Therapy market is segmented into Hospitals, Specialty Clinics and Others. The hospitals segment is anticipated to hold a significant share of the North America Cancer Therapy market during the forecast period due to its crucial role in the delivery of cancer therapy, providing a range of services from diagnosis to treatment and supportive care. Specialized cancer centers within hospitals are equipped with advanced medical technologies and a multidisciplinary team of healthcare professionals dedicated to managing and treating cancer.
Competitive Landscape
Major players operating in the North America Cancer Therapy Market include Johnson & Johnson, AstraZeneca Plc, Merck & Co., Inc., Bayer AG, Amgen Inc., F.Hoffman-La-Roche Ltd., Eli Lilly and Company, Novartis AG and Pfizer Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the North America Cancer Therapy Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the North America Cancer Therapy Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. North America Cancer Therapies Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increasing cancer incidences
- 3.2.1.2. Building public awareness
- 3.2.1.3. Growing collaborations with international organizations and pharmaceutical companies
- 3.2.1.4. Supportive policies and government initiatives
- 3.2.2. Restraints
- 3.2.2.1. Limited Healthcare Infrastructure
- 3.2.2.2. Lack of awareness
- 3.2.2.3. Economic challenges may hinder affordability and accessibility of costly cancer treatments
- 3.2.3. Opportunities
- 3.2.3.1. Increasing clinical trials and research
- 3.2.3.2. Collaborating with private entities and non-profit organizations
- 3.2.4. Challenges
- 3.2.4.1. Limited availability of essential cancer medications
- 3.2.4.2. Events such as pandemics can strain healthcare resources
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. North America Cancer Therapies Market: Marketing Strategies
- 5. North America Cancer Therapies Market Overview
- 5.1. Market Size & Forecast, 2019-2030
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Therapy Type
- 5.2.1.1. Chemotherapy
- 5.2.1.2. Radiation Therapy
- 5.2.1.3. Hormonal Therapy
- 5.2.1.4. Targeted Therapy
- 5.2.1.5. Others
- 5.2.2. By Cancer Type
- 5.2.2.1. Breast Cancer
- 5.2.2.2. Lung Cancer
- 5.2.2.3. Prostate Cancer
- 5.2.2.4. Blood Cancer
- 5.2.2.5. Others
- 5.2.3. By End User
- 5.2.3.1. Hospitals
- 5.2.3.2. Specialty Clinics
- 5.2.3.3. Others
- 6. North America Cancer Therapies Market
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Therapy Type
- 6.2.2. By Cancer Type
- 6.2.3. By End User
- 7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. North America Cancer Therapies Market Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 8. Impact of Escalating Geopolitical Tension on North America Cancer Therapies Market
- 9. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 9.1. Johnson and Johnson
- 9.2. AstraZeneca PLC
- 9.3. Merck & Co. Inc.
- 9.4. Bayer AG
- 9.5. Amgen Inc
- 9.6. F. Hoffmann-La Roche Ltd
- 9.7. Eli Lilly and Company
- 9.8. Novartis AG
- 9.9. Pfizer Inc
- 9.10. Other Prominent Players
- 10. Key Strategic Recommendations
- 11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents, By Country
- 11.5. Assumptions & Limitations
- *Financial information of case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
- List of Figures
- Figure 1 North America Cancer Therapies Market Segmentation
- Figure 2 North America Cancer Therapies Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 North America Cancer Therapies Market Size, By Value (USD Billion), 2019-2030
- Figure 5 North America Cancer Therapies Market Share, By Therapy Type, By Value (USD Billion), 2019-2030
- Figure 6 North America Cancer Therapies Market Share, By Cancer Type, By Value (USD Billion), 2019-2030
- Figure 7 North America Cancer Therapies Market Share, By End Use, By Value (USD Billion), 2019-2030
- List of Tables
- Table 1 North America Cancer Therapies Market Size, By Value (USD Billion), 2019-2030
- Table 2 North America Cancer Therapies Market Size, By Therapy Type, By Value (USD Billion), 2019-2030
- Table 3 North America Cancer Therapies Market Size, By Cancer Type, By Value (USD Billion), 2019-2030
- Table 4 North America Cancer Therapies Market Size, By End Use, By Value (USD Billion), 2019-2030
- Table 31 Johnson and Johnson Company Overview
- Table 32 Johnson and Johnson Financial Overview
- Table 33 AstraZeneca PLC Company Overview
- Table 34 AstraZeneca PLC Financial Overview
- Table 35 Merck & Co. Inc. Company Overview
- Table 36 Merck & Co. Inc. Financial Overview
- Table 37 Bayer AG Company Overview
- Table 38 Bayer AG Financial Overview
- Table 39 Amgen Inc Company Overview
- Table 40 Amgen Inc Financial Overview
- Table 41 F. Hoffmann-La Roche Ltd Company Overview
- Table 42 F. Hoffmann-La Roche Ltd Financial Overview
- Table 43 Eli Lilly and Company Company Overview
- Table 44 Eli Lilly and Company Financial Overview
- Table 45 Novartis AG Company Overview
- Table 46 Novartis AG Financial Overview
- Table 47 Pfizer Inc Company Overview
- Table 48 Pfizer Inc Financial Overview
- Table 49 Bristol Myers Squibb Company Company Overview
- Table 50 Bristol Myers Squibb Company Financial Overview
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