Oncology Drugs Market, By Product Type (Cytotoxic Drugs, Targeted Drugs, and Hormonal Drugs), By Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Blood Cancer, Bladder Cancer, and Others), By End User (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2030

Oncology Drug market accounted for US$ 181.47 billion in 2020 and is estimated to be US$ 869.6 billion by 2030 and is anticipated to register a CAGR of 8.9%.

Oncology is a condition in which body faces unrestricted growth of cells which spread to other parts also. Abnormal or damaged cells multiply & converted into lumps of tissues i.e. Tumor formation. Cancer drugs has crucial role in controlling the formation of malignant neoplasm. Various types of cancer drugs are available in the market based on product type, dosage form, specific type or stage of cancer etc. In the 1940s, one of the first drugs that was used clinically in modern medicine for the treatment of cancer was the alkylating agent mechlorethamine was found to be effective in treating lymphomas. Similarly, the antimetabolite methotrexate was the first medicine to treat a solid tumour in 1956. Since then many anticancer drugs have been developed and used with much success. Though, anticancer drugs are effective but generally it has toxic effect on normal human cells can cause numerous side effects, some of which are life-threatening.

Impact of Covid-19 pandemic on market

Globally, the COVID-19 outbreak has had a favorable impact on this sector. In response to the COVID-19 emergency, several market segments have seen an increase in drug demand. Pharmaceutical businesses in this industry have greatly improved their supply chain management, increased their R&D skills, and increased their manufacturing management and quality control investments. This report will quantify the impact of this pandemic on the Oncology Drug market.

Technological Advancement and Increased R&D activities in Oncology Drug Market

The market for oncology drug market is being driven by technological advancements & increased demand for R&D activities in cancer. Also, rising incidence of various types of malignancies, and growing concerns about high cancer-related death rates are some of the major factors affecting oncology drug market. For instance, in 2019, there were an estimated 23.6 million (95% UI, 22.2-24.9 million) new cancer cases (17.2 million when excluding nonmelanoma skin cancer) and 10.0 million (95% UI, 9.36-10.6 million) cancer deaths globally, with an estimated 250 million (235-264 million) DALYs(Disability Adjusted Life Years) due to cancer. Since 2010, these represented a 26.3% (95% UI, 20.3%-32.3%) increase in new cases, a 20.9% (95% UI, 14.2%-27.6%) increase in deaths, and a 16.0% (95% UI, 9.3%-22.8%) increase in DALYs. Above data represents the size & scope of the oncology market. In addition, the oncology drug market is likely to be driven by the launch of novel cancer drugs and therapies & its awareness in the society, government support to enhance healthcare conditions, personalized medicines, increase in the number of organizations’ collaborations and partnerships are projected to create new prospects for the global oncology drugs market.

High cost & Side-effects of Cancer drugs

Threat of failure & adverse effects related to cancer drugs therapies is predicted to restrain the expansion of the market. The high cost of cancer treatments, government’s restrictions, massive investment in therapy development and clinical trials are some of the primary factors constraining the growth of the worldwide oncology drug market.

Oncology market is segmented by Product Type, Cancer Type, End-User and Region.

On the basis of Product Type, the oncology drug market is segmented into Cytotoxic drugs, Targeted drugs and Hormonal drugs. On the basis of Cancer Type, the target market is segmented into Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Blood Cancer, Bladder Cancer, and Others. Based on End User the market is segmented into Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies.

Regional Insights:

On region the  oncology drug market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has the greatest market for oncology drugs, followed by Europe because of new drug research, government incentives, and developed healthcare infrastructure. Also, Asia-Pacific region is predicted to have a strong growth rate in the oncology drug market in the next years because of the rising prevalence of cancer cases, the increased usage of tobacco products, and the region's ageing population.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global oncology drug market report based on Product Type, Cancer Type, End User and Region.

Oncology Drug Market, By Region:

• North America
  • U.S.
    • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating in the oncology drug market includes the prominent player operating in the global cancer therapy market includes Key players in the global oncology drugs market includes, Hoffmann-La Roche Ltd., Novartis International AG, Celgene Corporation, Johnson & Johnson, Bristol-Myers Squibb Company, Pfizer Inc., Merck & Co., Inc., Eli Lilly and Company, AbbVie Inc., and Bayer AG.

• In April 2024, NIH researchers developed AI tool with potential to more precisely match cancer drugs to patients. Researchers at the National Institutes of Health (NIH) have developed an artificial intelligence (AI) tool that uses data from individual cells inside tumours to predict whether a person’s cancer will respond to a specific drug.
• In February 2024, Robust AI-driven Cancer Drug Development. Researchers are using AlphaFold, an AI-powered protein structure database, to create a drug that could potentially treat hepatocellular carcinoma (HCC), or liver cancer. Another AI-driven cancer drug discovery engine called CancerOmicsNet can predict how a specific cancer would respond to a specific drug. Researchers are also applying AlphaFold to Pharma.AI platform to uncover a novel target for cancer and develop a “novel hit molecule” that could bind to that target without aid.
• In February 2024, Tata Institute doctors claim new drug prevents cancer recurrence. Doctors at Tata Institute in Mumbai have developed a tablet that claims to prevent cancer recurrence. This innovative tablet will be available at Rs 100 once approved by the FSSAI.
• In December 2023, AstraZeneca has signed a deal worth up to $247mn with Absci Corporation of the US to design an antibody to fight cancer, the latest tie-up in fast-expanding efforts to use artificial intelligence for drug discovery.

• Hoffmann-La Roche Ltd.
  • Company Overview
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• Novartis International AG
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•   Celgene Corporation
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• Johnson & Johnson
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• Bristol-Myers Squibb Company
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• Pfizer Inc.
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• Merck & Co., Inc.
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• Eli Lilly and Company
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• AbbVie Inc.
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• Bayer AG
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 “*” marked represents similar segmentation in other categories in the respective section