Dublin, May 25, 2023 (GLOBE NEWSWIRE) -- The "Oncology Drugs Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the oncology drugs market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
The global oncology drugs market grew from $223.34 billion in 2022, having increased at a compound annual growth rate (CAGR) of 6.5 % since 2017. The market is expected to grow from $223.34 billion in 2022 to $318.31 billion in 2027 at a rate of 7.3 %. The market is then expected to grow at a CAGR of 6.9% from 2027 and reach $445.23 billion in 2032.
Growth in the historic period resulted from the rapid growth in elderly population, strong economic growth in emerging markets, increased healthcare expenditure, increased number of approvals for hematology/oncology (cancer) drugs, increase in pharmaceutical R&D expenditure, advances in cancer drug discovery and revised FDA regulations to facilitate biologics drug development.
Factors that negatively affected growth in the historic period were patent expiration of drugs, pricing pressures from regulators, challenges due to regulatory changes, low healthcare access, COVID-19 impact and adverse effects of drugs.
Going forward, an increase in cancer incidence rate, a rise in healthcare expenditure, increasing older population, strong pipeline of drugs, high potential of emerging economies and rising pollution and environmental changes will drive the market growth. Factors that could hinder the growth of the oncology drugs market in the future include the high costs of drugs, expiry of major drugs patents, rise in interest rates, rising popularity of alternative therapies and natural remedies, high cost of drug development with threat of failure and Russia-Ukraine war impact.
The oncology drugs market is segmented by type into lung cancer, pancreatic cancer, breast cancer, prostate cancer, ovarian cancer, colorectal cancer, gastric cancer, kidney cancer, brain tumor, thyroid cancer, skin cancer, bladder cancer, cervical cancer, blood cancer and other oncology drugs. The blood cancer was the largest segment of the oncology drugs market by type, accounting for $43.47 billion or 19.5% of the total market in 2022. The ovarian cancer market is expected to be the fastest-growing segment going forward at a CAGR of 18.5%.
The oncology drugs market is also segmented by distribution channel into hospital pharmacies, retail pharmacies/drug stores and other distribution channels. The hospital pharmacies was the largest segment of the oncology drugs market by distribution channel, accounting for $123.10 billion or 55.1% of the total market in 2022. The other distribution channel market is expected to be the fastest-growing segment going forward at a CAGR of 7.9%.
The oncology drugs market is also segmented by mode of purchase into prescription-based drugs, and over-the-counter drugs. The prescription-based drugs was the largest segment of the oncology drugs market by mode of purchase, accounting for $207.92 billion or 93.1% of the total market in 2022. The prescription-based drugs market is expected to be the fastest-growing segment going forward at a CAGR of 7.4%.
The oncology drugs market is also segmented by route of administration into oral, parental and other route of administration. The oral was the largest segment of the oncology drugs market by route of administration, accounting for $123.50 billion or 55.3% of the total market in 2022. The oral market is expected to be the fastest-growing segment going forward at a CAGR of 7.6%.
The oncology drugs market is segmented by drug classification into branded drugs and generic drugs. The branded drugs was the largest segment of the oncology drugs market by drug classification, accounting for $189.35 billion or 84.8% of the total market in 2022. The generic drugs market is expected to be the fastest-growing segment going forward at a CAGR of 8.2%.
North America was the largest region in the oncology drugs market, accounting for 43.2% of the global market in 2022. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the oncology drugs market will be Middle East and the South America, where growth will be at CAGRs of 12.61% and 10.39% respectively from 2022-2027.
The global oncology drugs market is concentrated, with a few large players in the market. The top ten competitors in the market made up to 70.25% of the total market in 2021. The market concentration can be attributed to the high barriers to entry in terms of high costs associated with the research and development of oncology drugs and the stringent regulations set up by the regulatory authorities. Going forward the market is expected to experience further consolidation with the rising number of mergers and collaboration amongst the major players in the market.
Bristol-Myers Squibb Company Limited was the largest competitor with 13.67% share of the market, followed by F. Hoffmann-La Roche AG with 10.47%, Merck & Co. Inc. with 9.52%, Novartis AG with 7.75%, Johnson & Johnson with 7.29%, AstraZeneca PLC with 6.53%, Pfizer Inc. with 6.18%, AbbVie Inc. with 3.62%, Astellas Pharma with 2.79%, and Amgen with 2.43%.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 501 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $223.34 Billion |
| Forecasted Market Value (USD) by 2031 | $445.23 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Bristol-Myers Squibb Company Limited
- F. Hoffmann-La Roche AG
- Merck & Co. Inc.
- Novartis AG
- Johnson & Johnson
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Oncology Drugs Market Definition And Segmentations
6.4. Market Segmentation By Type
6.4.1. Lung Cancer Drugs
6.4.2. Pancreatic Cancer Drugs
6.4.3. Breast Cancer Drugs
6.4.4. Prostate Cancer Drugs
6.4.5. Ovarian Cancer Drugs
6.4.6. Colorectal Cancer Drugs
6.4.7. Gastric Cancer Drugs
6.4.8. Kidney Cancer Drugs
6.4.9. Brain Tumor Drugs
6.4.10. Thyroid Cancer Drugs
6.4.11. Skin Cancer Drugs
6.4.12. Bladder Cancer Drugs
6.4.13. Cervical Cancer Drugs
6.4.14. Blood Cancer Drugs
6.4.15. Other Oncology Drugs
6.5. Market Segmentation By Distribution Channel
6.5.1. Hospital Pharmacies
6.5.2. Retail Pharmacies/Drug Stores
6.5.3. Other Distribution Channels
6.6. Market Segmentation By Route Of Administration
6.6.1. Oral
6.6.2. Parenteral
6.6.3. Other Route Of Administration
6.7. Market Segmentation By Drug Classification
6.7.1. Branded Drugs
6.7.2. Generic Drugs
6.8. Market Segmentation By Mode Of Purchase
6.8.1. Prescription-Based Drugs
6.8.2. Over-The-Counter Drugs
7. Product/Service Analysis - Product/Service Examples
8. Supply Chain Analysis
8.1. Raw Material Suppliers
8.2. Contract Research Organization (CRO)
8.3. Oncology Drugs Manufacturer
8.3.1. Drug Discovery
8.3.2. Preclinical And Clinical Trials
8.3.3. Patents Upon Discovery And Approval
8.3.4. Drug Manufacturing
8.4. Contract Manufacturing Organization (CMO)
8.5. Wholesalers/Distributors
8.6. Retailers (Pharmacies) And Hospitals
8.7. Oncologists
8.8. End-Users
9. Customer Information
9.1. Cancer Patients Are In Need Of Pharma's Support
9.2. Oncologists Want To Understand More About Precision Medicine Sold To Them
9.3. Cancer Care Clinicians Are Satisfied With Telehealth And Continue To Use It
9.4. Patients Have Low Access To High Priority Cancer Medicines
9.5. Oncology Drug Shortages Are A Growing Concern For Clinical Practice
9.6. COVID-19 Pandemic Effects On Cancer Patients And Survivors
9.7. Most People Are Aware Of At Least One Major Cancer Risk Factor
9.8. COVID-19 Disrupted The Operations Of European Oncology Pharmacies And Clinical Practices
9.9. Only 17% Of Cancer Patients Receive Correct Treatment
10. Major Market Trends
10.1. Investment In Artificial Intelligence For Oncology Drugs
10.2. Development Of Next Generation Biologics
10.3. Innovation In Patient Therapies (New Active Substances)
10.4. CRISPR-Cas9 Technology Use In Cancer Treatment
10.5. Expansion Of Cell And Gene Therapy & CAR-T Approvals
10.6. Development Of Personalized Cancer Vaccines
10.7. Microneedle Pills
10.8. Rising Focus On Immunotherapy Drugs For Cancer Treatment
10.9. Development Of Innovative Drugs To Treat Hematopoietic Cancers
10.10. Collaboration Driving Innovation
10.11. Rising Focus On Targeted Therapy
11. Global Oncology Drugs Market Size And Growth
11.1. Market Size
11.2. Historic Market Growth, 2017 - 2022, Value ($ Billion)
11.2.1. Market Drivers 2017 - 2022
11.2.2. Market Restraints 2017 - 2022
11.3. Forecast Market Growth, 2022 - 2027, 2032F Value ($ Billion)
11.3.1. Market Drivers 2022 - 2027
11.3.2. Market Restraints 2022 - 2027
For more information about this report visit https://www.researchandmarkets.com/r/f8m8wa
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