The global cancer therapeutics market size was valued at $98,900 million in 2018 and is estimated to reach at $180,193 million by 2026, registering a CAGR of 7.7% from 2019 to 2026. Cancer therapeutics involves the use and administration of chemotherapy and oncology drugs to treat cancer.
The cancer therapeutics market is segmented based on application, top selling drugs, and region. Based on application, the market is divided into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, head & neck cancer, glioblastoma, malignant meningioma, mesothelioma, melanoma, and others. By top selling drugs, it is categorized into Revlimid, Avastin, Herceptin, Rituxan, Opdivo, Gleevec, Velcade, Imbruvica, Ibrance, Zytiga, Alimta, Xtandi, Tarceva, Perjeta, Temodar, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global oncology drugs market size was valued at $135,494.17 million in 2020, and is projected to reach $274,400.63 million by 2030, registering a CAGR of 7.5% from 2021 to 2030. Cancer is the third most lethal disease in the world after cardiovascular, parasitic and infectious diseases. Chemoprevention is defined as pharmacological intervention with synthetic or naturally occurring compounds that may inhibit or prevent carcinogenesis. Cancer treatment involves surgery, radiation and drugs. The surgery is the first line of therapy that is used for early stage of cancer. Radiotherapy is most often applied in a localized setting and conjunction with surgical procedures. The last one, drugs are implemented with chemotherapy (CTX), which employs a wide group of drugs that have cytotoxic effects. Targeted therapy is a type of cancer treatment that targets the changes in cancer cells that help them grow, divide, and spread.
North America accounted for the largest share of revenue in 2020, and is anticipated to maintain its dominance from 2021 to 2030, owing to presence of large patient population, strong presence of key players, ease of drug availability, well developed healthcare infrastructure, favorable reimbursement policies in healthcare system, higher number of research, development, & innovation activities and higher adoption of advanced therapeutics. However, Asia-Pacific is expected to grow at the highest CAGR, owing to increase in number of cancer affected population and rise in awareness related to different cancers.
The growth of the oncology/cancer drugs market is driven by increase in prevalence of cancer disease and rise in incidence of various cancer conditions, increase in popularity of advance therapies (biological and targeted drug therapies), and surge in geriatric population worldwide. In addition, rise in cancer awareness, early screening of the cancer also contributes toward growth of the oncology drugs market. However, high cost involved in new drug development coupled with threat of failure & adverse effects associated with cancer drugs therapies pose to restrain the growth of the oncology/cancer drugs market. Conversely, high potential of emerging economies and higher number of potential drugs in the pipeline are expected to offer lucrative opportunities during the forecast period.