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Global Oncology Drugs Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Type, Drug Class, Distribution Channel, Route Of Administration, Drug Classification & Region – Industry Analysis From 2024 To 2029

Published: March, 2023
ID: 12134
Pages: 200
Formats: report pdf report excel report power bi report ppt

Global Oncology Drugs Market Size (2024 to 2029)

The global oncology drugs market is predicted to grow at a CAGR of 9.04% from 2024 to 2029 and be worth USD 200.00 billion in 2023 and USD 308.12 billion by 2029.

Oncology helps study, diagnosis, and treatment of cancer. Cancer is a disease where abnormal cells grow uncontrollably and disrupt normal bodily functions. Cancer can be caused for any reason, including smoking, viral infections, tobacco use, genetic modifications, bacterial infections, chronic infections, eating habits, age, etc. Oncology drugs act against both metastatic and benign cancers, which may include bone marrow cancer, lung cancer, bone cancer, skin cancer, gastrointestinal cancer, breast cancer, oral cancer, gynecological cancer, etc. The oncology drugs market includes oral, intravenous, and parental drugs that act upon these abnormal cancerous cells and limit their growth.

Global Oncology Drugs Market Drivers:

Factors such as easy drug approvals, growing interest in pharmaceutical oncology in the R&D sector, increased prevalence of cancers, increasing elderly population, well-developed healthcare infrastructure, especially in developed economies, and higher healthcare expenditures are primarily driving the oncology drugs market.

In addition, increasing cancer recurrence rates, rising healthcare awareness, a potent drug portfolio, and revised FDA regulations are expected to facilitate the oncology drugs market. For example, according to the National Cancer Institute, about 17535,550 new cancer cases were diagnosed in the US in 2018. Furthermore, according to the World Health Organization, in 2018, approximately 10.3 million deaths worldwide were due to cancer.

Many technological advancements in oncology drugs are expected to drive the market to greater heights during the forecast period. Clinical trials are the backbone that supports and drives the research and development for the market's growth. In addition, the increase in cases of various types of cancers and the discovery of new types of cancer will drive the demand for oncology drugs, improving the market growth rate. According to the World Health Organization (WHO), cancer is an increasing burden, and the number of diagnosed cancer cases will increase from 18.7 million in 2018 to 31.5 million in 2040. In addition, various launches and continuous approvals of newer drugs are expected to impact the market significantly.

Global Oncology Drugs Market Restraints:

Factors such as high costs of oncology drugs, stringent rules and regulations for drug approvals, rising expenses for clinical trials, the growing demand for alternative therapies such as natural remedies and substitutes, and the non-availability of new drugs in developing and rural areas are significant factors which might hamper the growth of the cancer drugs market in the future. In addition, specific side effects of the oncology drugs, such as lethargy, immune compression, hypertension, necrosis, etc., and decreased awareness of cancer treatment are expected to challenge the growth of the oncology drugs market. Furthermore, while the unmet need is very high for some areas worldwide, the lack of healthcare infrastructure is expected to hamper the market's growth rate.

COVID-19 Impact on the Global Oncology Drugs Market:

The COVID-19 outbreak has positively impacted the oncology drugs market. Due to the COVID-19 emergency, panic drug purchases have been made by cancer patients amid the lockdown. On the Other hand, pharmaceutical companies have dramatically improved their supply chain management and invested more in their quality control and manufacturing management to recover their losses. The involvement of COVID-19 in the research and development of new therapies has been a significant challenge for the oncology drugs market




Market Size Available

2023 to 2029

Base Year


Forecast Period

2024 to 2029

Segments Covered

By Type, Drug Class Type, Distribution Channel, Route of Administration, Drug Classification, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa


This research report on the global oncology drugs market has been segmented and sub-segmented into the following categories.

Global Oncology Drugs Market - By Type:

  • Lung Cancer
  • Pancreatic Cancer
  • Breast Cancer
  • Prostate Cancer
  • Ovarian Cancer
  • Colorectal Cancer
  • Gastric Cancer
  • Kidney Cancer
  • Brain Cancer
  • Thyroid Cancer
  • Skin Cancer
  • Bladder Cancer
  • Cervical Cancer
  • Blood Cancer
  • Others

The breast cancer segment was the most significant contributor to revenue in 2022 and is anticipated to continue this trend throughout the forecast period due to an increase in the affected population from early detection of the disease. forecast estimates that 281.560 invasive breast cancer will be diagnosed in American Women in the coming period. This focuses on using early diagnosis and treatment, driving the market's expansion. In addition, breast cancer is becoming more common, awareness is rising, more breast cancer therapies are being introduced, and significant R&D investments by leading market participants are some of the factors driving its quicker expansion throughout the forecast period. For instance, Emcure Pharmaceuticals introduced the generic Eribilin, a therapy for metastatic breast cancer, in India in April 2019.

Global Oncology Drugs Market - By Drug Class Type:

  • Chemotherapy
  • Targeted Therapy
  • Immunotherapy (Biologic Therapy)
  • Hormonal Therapy

In 2023, targeted therapy was the most profitable. This is due to targeted therapy's advantages, such as targeting specific molecular alterations that are particular to a given tumor and interferes with particular proteins involved in carcinogenesis. In addition, fewer side effects from treatment and the availability of numerous targeted treatments are two significant factors that have influenced the expansion of the market for oncology/cancer medications.

Global Oncology Drugs Market - By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies/Drug Stores
  • Others

The hospital pharmacy segment is anticipated to rule during the forecasted period. The dominance of this market is attributed to hospitals prescribing more pharmaceuticals due to more frequent diagnoses made there. In addition, the patient can easily reach these pharmacies because they are located on the hospital grounds. They also keep a wide variety of medications on hand, including specialist and experimental drugs, which aids in the quick treatment of patients.

Global Oncology Drugs Market By Route of Administration:

  • Oral
  • Parenteral
  • Others

By route of administration, the parenteral accounted for the most significant portion of the market for cancer drugs.

Global Oncology Drugs Market - By Drug Classification:

  • Branded Drugs
  • Generic Drugs

By drug classification, branded drugs made up the most significant portion of the cancer drugs market, accounting for 95.2% of the market in 2023. It is likely to continue its growth during the forecast period.

Global Oncology Drugs Market - By Region:

  • North America
  • Europe
  • APAC
  • Latin America
  • Middle East and Africa

Based on the region, the North American oncology drugs market is expected to experience a reasonable growth rate, growing at a CAGR of 8.44% during the forecast period. As a result, this region was the largest regional market, accounting for 33% of the global market in 2023. APAC was the second largest region, accounting for 30% of the oncology drugs market. North America maintains its dominance in the market due to the increasing prevalence of cancer in the United States. According to the National Cancer Institute, in 2021, approximately 1.9 million people will be diagnosed with cancer in the United States. In addition, recent product launches and harmful eating habits will help expand the market in the region.

The oncology drugs market in Europe is expected to have a remarkable growth rate during the projected period, attributed to the high cancer burden in countries like the UK, Germany, and France. In Eastern Europe, the market is expected to post a CAGR of 8.2%. Cancer is prevalent in European countries. According to Cancer Research UK, in 2017, around 165,000 deaths in the United Kingdom were due to cancer. The market in the UK is expected to increase significantly during the forecast period owing to the growing awareness of the cancer population.

The APAC oncology drugs market is expected to show a high growth rate in the global market in the coming years owing to the rising incidence of cancer cases, the increase in the consumption of tobacco products, and the growth of the aging population in the region. In addition, it is expected to experience significant growth due to the increasing population and an increasing number of harmful pollutants. Furthermore, cancer treatment awareness is driving the development of the oncology drugs market. India and China are expected to dominate the market due to large populations and higher incidences of cancer in the countries. In addition. According to the National Institute for Cancer Prevention and Research (NICPR), in 2019, the total number of cancer deaths in India was 785,852.

The Latin American oncology drugs market is predicted to rise at a CAGR of 9.96% from 2024 to 2029.


F. Hoffmann-La Roche Ltd, Genentech, Inc., Novartis AG, Pfizer Inc., Bristol-Myers Squibb Company, GlaxoSmithKline plc, Eli Lilly and Company, AstraZeneca, Sanofi, and Bayer AG are some of the notable companies in the global oncology drugs market.


  • The Johnson and Johnson Company signed an agreement with the tech-based- BenevolentAI, a UK-based start-up company, to mine data to design newer and better oncology drugs.
  • In October 2018, Dr. Reddy's Laboratories Ltd launched their own drug-containing Imatinib Mesylate Tablets in India, a generic version of Novartis, a best-selling cancer drug, Gleevec, in the US oncology drug market.
  • In April 2019, Sun Pharmaceutical Industries released its drug in the form of INFUGEM injection, which will be used to treat ovarian cancer in the United States.
  • In July 2019, pharmaceutical company Pfizer Inc. initiated into oncology; Pfizer made more profitable innovative drugs, including the cancer drug- Vibrance for breast cancer.

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How big is the oncology drugs market?

The global oncology drugs market is growing at a healthy pace and is estimated to be worth USD 308.12 billion by 2029.

Which region led the oncology drugs market in 2023?

The North American regional market dominated the oncology drugs market in 2023 and this trend is predicted to continue for the next few years.

Which are the companies dominating the oncology drugs market?

Companies playing a key role in the global oncology drugs market are F. Hoffmann-La Roche Ltd, Genentech, Inc., Novartis AG, Pfizer Inc., Bristol-Myers Squibb Company, GlaxoSmithKline plc, Eli Lilly and Company, AstraZeneca, Sanofi, and Bayer AG.

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