USD 136.6 Billion
Cancer Therapeutics Market Size, Share, Growth Analysis, By Application(Blood Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer), By Drug(Revlimid, Avastin, Herceptin, Rituxan), By End-User(Hospitals, Specialty Clinics, Cancer and Radiation Therapy Centers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2214 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
112
|Figures:
76
Cancer Therapeutics Market Insights
Global Cancer Therapeutics Market size was valued at USD 136.6 Billion in 2022 and is poised to grow from USD 149.02 Billion in 2023 to USD 299.13 Billion by 2031, at a CAGR of 9.1% during the forecast period (2024-2031).
Growing number of cancer patients around the world are projected to bolster the demand for cancer therapeutics over the coming years. High investments in oncology research and growing demand for better cancer treatments are also expected to generate new opportunities for cancer therapeutics companies going forward. Rising adoption of gene therapies and personalized medicine to treat different cancer indications will also supplement market growth in the future. Growing use of combination therapies and increasing spending by governments to support oncology research are also expected to uplift sales of cancer therapeutics across the study period and beyond. On the other hand, drug resistance, cancer heterogeneity, and adverse side effects of cancer therapeutics are key restraints that trouble cancer therapeutics providers around the world.
US Cancer Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lung cancer
Fastest Growth
Blood cancer
Growth Rate
9.1% CAGR
Global Cancer Therapeutics Market ($ Bn)
Country Share for North America Region (%)
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Cancer Therapeutics Market Segmental Analysis
The global cancer therapeutics market is segmented based on application, drug, end-user and region. In terms of application, the market is segmented into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, head and neck cancer, glioblastoma, malignant meningioma, mesothelioma, melanoma, and others. Based on drug, the market is segmented into revlimid, avastin, herceptin, rituxan, opdivo, gleevec, velcade, imbruvica, ibrance, zytiga, alimta, xtandi, tarceva, perjeta, temodar, and others. Based on end-user, the market is segmented into hospitals, specialty clinics, cancer and radiation therapy centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Application
Most cancer therapeutics are projected to be focused on lung cancer, which is why this will emerge as the leading market growth segment. Increasing air pollution and growing tobacco consumption are key contributors to the high market share of this segment. By targeting the lung cancer segment, cancer therapeutics companies can expand their business scope, which is why its prominence is projected to be prevalent across the study period.
Surging incidence of blood cancer among people around the world makes it the fastest-growing segment for cancer therapeutics companies. Myeloma, leukemia, and lymphoma are some common types of blood cancer and the demand for cancer therapeutics to treat them is increasing at a rapid pace. Rising adoption of advanced technologies and medical products to treat blood cancer patients will also help boost cancer therapeutics demand over the coming years.
Analysis by Drug
Revlimid is estimated to emerge as the most used drug for cancer treatment. This drug completely stops or slows down the growth of cancer tumors and cells in patients, which is why it finds application in different cancer indications. The drug is also used to treat anemia which contributes to its high market share. Use of revlimid in combination therapies is also expected to bolster market development going forward.
Avastin is projected to emerge as the fastest-growing segment in the global cancer therapeutics market over the coming years. The drug can inhibit and prevent the growth of new cancer cells, which is why its popularity and demand is increasing at a high CAGR. It is also used to treat different disorders related to the eye.
Global Cancer Therapeutics Market By Application
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Cancer Therapeutics Market Regional Insights
North America is estimated to secure the top spot when it comes to the cancer therapeutics market. Increasing incidence of cancer and high investments in oncology research are forecasted to be the key factors contributing to the dominance of this segment. Availability of proper reimbursement policies and rising demand for novel cancer treatments are also estimated to help this region maintain its high market share. The United States is slated to be the most opportune market for cancer therapeutics companies looking to make an impact in the North American region.
Growing prevalence of different types of cancers and rising investments in healthcare infrastructure development are projected to help Asia Pacific emerge as the fastest-growing market in the world. India, China, Japan, and South Korea are projected to be the most opportune countries in this region. Growing healthcare expenditure and high availability of affordable manufacturing and labor are also expected to help this region emerge as the most opportune one going forward.
Global Cancer Therapeutics Market By Region
- Largest
- Fastest
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Cancer Therapeutics Market Dynamics
Cancer Therapeutics Market Drivers
Rising Incidence of Cancer
- Poor lifestyle choices and growing adoption of unhealthy habits have significantly increased the number of people suffering from cancer. This surge in incidence of cancer around the world is a key factor promoting cancer therapeutics demand.
Rising Use of Combination Therapies
- Healthcare professionals around the world are focusing on using combination therapies to treat and manage different types of cancer indications effectively. Cancer therapeutics play a crucial role in improving the efficacy of these combination therapies thereby boosting market development potential.
Restraints
Drug Resistance
- Cancer cells and tumors are evolving rapidly and becoming more and more resistant to different types of drugs, which eventually hurts the sales of cancer therapeutics and slows down market growth as well.
Cancer Heterogeneity
- Cancer variations are extremely different and have different characteristics, which is why not one drug can be made for all types of cancers. Moreover, sometimes these factors vary from person to person and this highly heterogenous nature of the indication is what inhibits the global cancer therapeutics market from attaining its full growth potential.
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Cancer Therapeutics Market Competitive Landscape
Cancer therapeutics providers around the world are estimated to focus on research to maximize their business potential and stay competitive. Developing new therapeutics for specific cancer indications will also be a preferred strategy for new as well as leading cancer therapeutics companies. Market players can also benefit from government support to take their oncology research capabilities to the next level. Use of advanced drug discovery and development techniques will also be popular among cancer therapeutics providers in the future.
Cancer Therapeutics Market Top Player’s Company Profile
- Roche Holding AG (Switzerland)
- Novartis AG (Switzerland)
- Merck & Co., Inc. (USA)
- Pfizer Inc. (US)
- AstraZeneca plc (UK)
- Bristol Myers Squibb Company (USA)
- AbbVie Inc. (USA)
- Amgen Inc. (USA)
- GlaxoSmithKline plc (United Kingdom)
- Eli Lilly and Company
- Takeda Pharmaceutical Company Limited (Japan)
- Sanofi S.A. (France)
- Gilead Sciences, Inc. (USA)
- Bayer AG (Germany)
- Johnson & Johnson USA
- AbilityPharma (Spain)
- Adcendo (Denmark)
- Beroni Group (Australia)
- BioAtla (USA)
- Astellas Pharma Inc. (Japan)
Cancer Therapeutics Market Recent Developments
- In June 2024, Johnson & Johnson revealed that it had submitted a biologics licence application (BLA) to the United States Food and Drug Administration (FDA) for a novel cancer drug. The new subcutaneous (SC) amivantamab is being developed to treat patients suffering from non-small cell lung cancer (NSCLC).
- Ichnos Sciences Inc., a renowned name in the biotechnology space, and a leading pharmaceutical company called Glenmark Pharmaceuticals teamed up to accelerate cancer treatment innovation back in January 2024. The alliance is called Ichnos Glenmark Innovation and is estimated to use both companies’ expertise to fast-track drug discovery and innovation in cancer treatment.
Cancer Therapeutics Key Market Trends
- Use of AI for Drug Discovery: Cancer therapeutics companies can focus on utilization of artificial intelligence in their research to fast-track innovation. Market players can integrate AI technology with their drug discovery and development tools to identify new drug targets and optimize the efficacy of currently used ones. Use of AI in other cancer therapeutics business aspects will also be highly popular in the long run.
Cancer Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing incidence of cancer and rising investments in oncology research around the world are slated to boost sales of cancer therapeutics over the coming years. However, drug resistance, the heterogeneous nature of cancer, and high costs of development are slated to be key constraints for market development going forward. Supportive government spending to boost oncology research allows North America to lead the global cancer therapeutics market. Targeting the development of lung cancer therapeutics will pay off big time for cancer therapeutics providers around the world. Cancer therapeutics companies should explore the use of artificial intelligence technologies to maximize their business scope in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 136.6 Billion |
| Market size value in 2031 | USD 299.13 Billion |
| Growth Rate | 9.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cancer Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cancer Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cancer Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cancer Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cancer Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cancer Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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