Cancer Treatment Facilities Market Size, Share, & Trends Analysis Report By Treatment (Cancer Surgery, Chemotherapy), By Cancer Type (Blood Cancer, Breast Cancer), By Provider, By Region, And Segment Forecasts, 2024 - 2030

Cancer Treatment Facilities Market Size, Share, & Trends Analysis Report By Treatment (Cancer Surgery, Chemotherapy), By Cancer Type (Blood Cancer, Breast Cancer), By Provider, By Region, And Segment Forecasts, 2024 - 2030

Cancer Treatment Facilities Market Growth & Trends

The global cancer treatment facilities market size is anticipated to reach USD 78.71 billion by 2030 and is anticipated to grow at a CAGR of 7.75% over the forecast period, according to a new report by Grand View Research, Inc. Key drivers of market growth include increasing patient assistance programs, government initiatives for cancer awareness, and the increasing demand for personalized medicine.

The increasing prevalence of neoplasm, such as breast cancer, among women worldwide makes it a significant area of specialization and investment for healthcare providers. The demand for advanced diagnostic technologies, personalized medicine, and tailored treatment approaches enhances patient outcomes and survival rates and is expected to drive the growth of the segment during the forecast period. For instance, in January 2024, MGM Healthcare launched Clinic B to support and help patients with comprehensive and advanced treatment for all types of breast health problems - ranging from benign lumps and cysts to tumors and reconstruction.

Furthermore, immunotherapy has become an important part of treating some types of cancer in recent years. Immunotherapy is an advanced type of treatment that is growing its presence due to its ability to enhance the immune system's ability to fight cancer by directing it toward cancer-specific targets; this leads to growing strategic initiatives by the service providers to grow its presence in the market, which is expected to drive the growth in the coming years. In January 2023, BioNTech SE collaborated with the UK government to provide clinical trials for modified mRNA immunotherapies for up to 10,000 patients by the end of 2030. In addition, it is focused on offering infectious disease vaccines and investment to increase its footprint in the UK market.

Furthermore, several industry players are launching new services to improve their penetration. For instance, in March 2024, Tampa General Hospital commenced the TGH Cancer Institute Phase I Cancer Research Unit at the main campus in Tampa. The aim of this Phase I Cancer Research Unit is to provide cancer patients with access to leading-edge research studies integrated with compassionate and comprehensive care.

Cancer Treatment Facilities Market Report Highlights

• In terms of treatment, the cancer surgery segment dominated the market with a revenue share of 34.12% in 2023. The development and increasing adoption of robotic surgery techniques is having a significant impact on the growth of the segment. However, chemotherapy services are the fastest-growing segment during the forecast period.
• Based on the cancer type, the blood cancer segment accounted for the maximum revenue share in 2023. This growth is attributed to the increasing involvement of key companies in the R&D of blood cancer treatments globally.
• Based on provider, the hospital segment accounted for the maximum revenue share in 2023 due to its advanced diagnostic and treatment capabilities in oncology departments.
• Asia Pacific dominated the market in 2023 due to factors such as the growing cancer incidence, increasing demand for personalized care, and the rise in the development of healthcare infrastructure.
• In May 2024, HCG (Healthcare Global Enterprises) opened new cancer care centers in North Bengaluru, adding a total of 125 beds. These strategically positioned facilities will provide a complete range of advanced cancer treatments, from diagnosis to personalized treatment plans.

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