The global oncology drugs market is estimated to grow at a CAGR of 7.0% during the forecast period. Increasing cancer prevalence globally, improving healthcare infrastructure across emerging economies, rising health awareness, and growing focus of market players towards the development of cancer drugs and other therapeutic solutions are some of the driving factors for the market growth. Prevalence of various cancers such as colorectal and prostate cancer is primarily providing significant trust to the market growth. Furthermore, rising geriatric population, the increasing advancement of cancer screening tests, and increasing awareness among the population regarding the prevalence of cancer are some of the factors that are contributing towards the growth of the global oncology drugs market.

Segmental Outlook  

The global oncology drugs market is segmented on the basis of drug class type, indication, and regions. On the basis of the drug class type, the market is classified into chemotherapy, targeted therapy, immunotherapy, and hormonal therapy. Based on the indication, the market is sub-segmented into Lung cancer, colorectal cancer, prostate cancer, bladder cancer, liver cancer, and others. Colorectal cancer indication segment is estimated to contribute significant market share in the global oncology drugs market owing to the increasing prevalence of colorectal cancer across the globe. 

Global Oncology Drugs Market Share by Indication, 2018 (%)

Colorectal and prostate cancer indication segments are gaining traction

Among the indication segment of the market, the colorectal cancer and prostate cancer segments are expected to gain significant traction over the forecast period. Increasing prevalence and incidence of these types of cancers are fueling the segmental growth of the market. According to the American Cancer Society, colorectal cancer is diagnosed in more than 1.2 million people globally every year, with North America being the most dominant region. Moreover, the World Health Organization (WHO) has stated that the incidence of colorectal cancer is around 93,898 in men and 85,873 in women; whereas, it has caused mortalities to nearly 33,752 men and 30,369 women during 2018. The rising incidences of prostate cancer across the globe is spurring the market growth for oncology drugs market. The estimated number of new incidences of prostate cancer in the US were nearly 161,300 in 2017. The increasing prevalence of cancers addresses the need for right treatment solutions including drugs; thereby, drives the global oncology drugs market. 

Regional Outlook 

Geographically, the study of the global oncology drugs market covers the analysis of four major regions including North America (the US and Canada), Europe (Germany, UK, Italy, France, Italy, Spain, and Rest of Europe), and Rest of the World (RoW). North America is estimated to share significant market share in the global oncology drugs market over the forecast period. Increasing number of cancer cases, increased people awareness, presence of key market players coupled with their increased focus on the development of oncology solutions, and well-developed healthcare infrastructure are some of the pivotal growth factors for the regional market growth.

Global Oncology Drugs Market Growth, by Region 2019-2025

Asia-Pacific to be a potential region for the market growth

Asia-Pacific is estimated to be the fastest growing region in the global oncology drugs market during the forecast period. Presence of huge population base and increasing aging society susceptible to various types of cancers including colorectal cancer, improving early disease diagnosis and detection services, and increasing health awareness in the economies of the region are primarily augmenting the regional business growth of the market. Major economies that are influencing the regional market growth include China, India, Japan, South Korea, and several others. According to the WHO, the incidences of colorectal cancer India were estimated to be about 185,000 in 2017. Japan accounted 149,000 cases in 2017 according to National Cancer Institute. Moreover, Asian countries reported more than 6% increase in healthcare expenditure, which is higher than the developed nations. 

Market Players Outlook

Some of the key players operating in the global oncology drugs market include AbbVie Inc., Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche ltd., Johnson & Johnson Services Inc., Merck & Co., Inc., Novartis AG, and Pfizer Inc., and several others. In order to remain competitive in the market, these market players adopt various strategies such as mergers and acquisitions, product offering expansion, geographical expansion, partnerships and collaborations, and others. Players operating in the market are also focusing on the market opportunities to capture the market share. 

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Oncology Drugs market. Based on the availability of data, information related to products and services, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.