Oncology Pharmaceuticals Market

Oncology Pharmaceuticals Market Size

[170+ Pages Research Report] to surpass USD 248.6 billion by 2031 from USD 137.5 billion in 2021 at a CAGR of 7.4% throughout the forecast period 2022-31

Cancer is a broad term for a group of diseases caused by abnormal cell growth in any tissue or organ of the body. Cancer develops when abnormal cells grow outside of their boundaries and spread to other parts of the body. The most common causes of cancer are genetic mutations caused by a variety of environmental factors such as radiation, chemicals, infections, and a variety of other factors such as poor diet, obesity, and so on. Oncology is the branch of medicine that studies cancer diagnosis and treatment. Men are more likely to develop lung, prostate, stomach, and liver cancers, while women are more likely to develop breast, lung, colorectal, cervical, and thyroid cancers.

Market Highlights

Global Oncology Pharmaceuticals market is expected to project a notable CAGR of 7.4% in 2031.

Global Oncology Pharmaceuticals to surpass USD 248.6 billion by 2031 from USD 137.5 billion in 2021 at a CAGR of 7.4% in the coming years, i.e., 2021-31. During the forecast period, the market is expected to benefit from ongoing technological advancements in pharmaceuticals. Clinical trials and various drugs in the pipeline can help the industry grow in a healthy way. The rising number of cancer cases, including lung cancer, prostate cancer, colon cancer, breast cancer, and others, will increase demand for oncology drugs, boosting market growth.

Figure - Market Analysis of  Global Oncology Pharmaceuticals Market

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Global Oncology Pharmaceuticals: Segments

Chemotherapy segment to grow with the highest CAGR during 2021-31

Based on type, global Oncology Pharmaceuticals Market is fragmented into Chemotherapy, Targeted Therapy, Immunotherapy and Hormonal Therapy. Chemotherapy drugs are frequently used in combination with other medications during chemotherapy, which is a common cancer treatment around the world.. Furthermore, due to recent advancements in target therapies to prevent abnormal cell growth and destroy cancer cells, targeted therapy type cancer drugs are expected to grow rapidly, which is further fueling growth of drugs used in chemotherapy treatment

Breast cancer providers segment to grow with the highest CAGR during 2021-31

Global Oncology Pharmaceuticals market is classified on the basis of indication into Lung Cancer, Stomach Cancer, Breast Cancer, Prostate Cancer and Others. Breast cancer is one of the most common types of cancer in women. The segment is growing because of an increase in the number of affected people as a result of early disease screening and owing to higher incidence, an increase in the geriatric population, changes in people's lifestyles, and an increase in tobacco smoking around the world.

Hospital and retail pharmacies segment to grow with the highest CAGR during 2021-31

Based on end user, global Biological Therapies for Cancer Market is fragmented into Specialized cancer treatment centers, Hospitals Pharmacies and Retail Pharmacies. Hospital and retail pharmacies segment held the greatest share of the vaccines technology market owing to its availability to the general public as they are under government surveillance.

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Market Dynamics

Drivers

Increased cancer cases and awareness among people

The rise in the prevalence of cancer disease and the incidence of various cancer conditions, as well as the popularity of advanced therapies such as biological and targeted drug therapies are driving the growth of the oncology market. Furthermore, ongoing technological advancements in pharmaceuticals, clinical trials and greater number of potential drugs in the pipeline can help the industry grow in a healthy way and provide lucrative opportunities during the forecast period.

Government initiatives and increasing awareness among people

The increasing research surrounding cancer drug development, growing awareness for cancer treatment, and high investment from government and other enterprises are a few of the key Oncology Drugs Market drivers and trends fueling the market's growth. Cancer medications are used in conjunction with other cancer treatments. The FDA approved several cancer drugs, which are widely used by oncologists in cancer treatment; this is further going to fuel growth.

Restraint

High cost associated with the market and side effects

The high costs associated with cancer drug may limit the growth of the oncology pharmaceuticals market. Furthermore, the poor healthcare situation in several developing economies and the risk of failure and adverse effects associated with cancer drug therapies are also hindering growth.

Global Oncology Pharmaceuticals: Key Players

• Amgen

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• A Serum Institute of India
• Pfizer
• Bayer
• GE Healthcare
• Glaxosmithkline
• Johnson and Johnson
• Thermo Fisher Scientific
• GlaxoSmithKline plc 
• Other Prominent Players

Global Oncology Pharmaceuticals: Regions

Global Oncology Pharmaceuticals market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Because of increased drug development research, several government initiatives, and the growth of the pharmaceutical industry in the region, the North America region has dominated the Global Oncology Drugs Market. The APAC region is also expected to grow significantly as a result of rising population and an increase in the number of domestic manufacturers.

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Impact of Covid-19 on Oncology Pharmaceuticals Market

The COVID-19 outbreak has had a positive impact on the global oncology drug market. Certain market segments have seen an increase in drug demand as a result of the COVID-19 emergency. During the lockdown, cancer patients have been seen buying medications in a panic. Pharmaceutical companies in this market have significantly improved their supply chain management, enhanced their R&D capabilities, and invested more in manufacturing management and quality control.

Global Oncology Pharmaceuticals is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Oncology Pharmaceuticals report also contains analysis on:

Oncology Pharmaceuticals Segments:

• By Type
  • Chemotherapy
  • Targeted Therapy
  • Immunotherapy
  • Hormonal Therapy
• By Indication 
  • Lung Cancer
  • Stomach Cancer
  • Breast Cancer
  • Prostate Cancer
  • Others
• By End user 
  • Specialized cancer treatment centers
  • Hospitals Pharmacies
  • Retail Pharmacies
• Oncology Pharmaceuticals Dynamics
• Oncology Pharmaceuticals Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Oncology Pharmaceuticals Market Report Scope and Segmentation

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