Global Oncology Drugs Market Size, Share & Industry Trends Analysis Report By Indication, By Drug Class Type (Targeted Therapy, Immunotherapy (Biologic Therapy), Chemotherapy and Hormonal Therapy), By Regional Outlook and Forecast, 2023 - 2030

Market Report Description

The Global Oncology Drugs Market size is expected to reach $273.3 billion by 2030, rising at a market growth of 7.7% CAGR during the forecast period.

Advances in understanding stomach cancer's molecular and genetic characteristics enable the development of more personalized and individualized treatment plans. Consequently, the Stomach Cancer segment captured $13,239.3 million revenue in the market in 2022. Stomach cancer remains a significant global health concern, and efforts in early detection, research, and advancements in treatment modalities are critical for improving outcomes for individuals affected by this disease. Regular screenings, awareness of risk factors, and prompt medical attention for persistent symptoms can contribute to early diagnosis and better treatment outcomes. Oncologists can tailor therapy based on the specific profile of the patient's cancer, optimizing the chances of treatment success.

The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In September, 2023, Merck & Co., Inc. collaborations with BenevolentAI, London, U.K., and Exscientia, Oxford, U.K., to produce novel clinical development drug candidates with first-in-class and best-in-class potential in oncology, neurology, and immunology. Additionally, In June, 2023, Astellas Pharma Inc. and Cullgen Inc. came into collaboration to develop targeted protein degraders by combining Cullgen's uSMITE platform with novel E3 ligands and Astellas' drug discovery capabilities.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Pfizer Inc. is the forerunners in the Oncology Drugs Market. For Instance, In September, 2022, Pfizer extended its partnership with CytoReason, to use CytoReason’s artificial intelligence technology for Pfizer’s drug development programs. Under the terms of the agreement, Pfizer will make a $20M equity investment, have options to license CytoReason’s platform and disease models, and fund supplementary project support, in a deal potentially worth up to $110M over the next five years. Companies such as AbbVie, Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd. are some of the key innovators in the Market.

COVID-19 Impact Analysis

The COVID-19 pandemic had significantly influenced the oncology drugs market. The pandemic led to disruptions in the manufacturing and supply chains of pharmaceuticals globally. Lockdowns, travel restrictions, and workforce shortages impeded the production and distribution of oncology drugs. Many pharmaceutical companies faced challenges in securing raw materials, transporting finished products, and maintaining regular production schedules, leading to potential shortages and delays in the availability of cancer medications. Clinical trials play a pivotal role in bringing new oncology drugs to market. This interruption in research activities delayed the developing and approval of novel cancer therapies. The oncology drugs market is engaged in resilience planning as the world moves toward a post-pandemic phase. This involves strategies to mitigate future disruptions, enhance supply chain robustness, and improve the adaptability of healthcare systems to unforeseen challenges.

Market Growth Factors

Rise in the prevalence of cancer globally

For Instance, Cancer is the primary cause of death on a global scale, accounting for nearly 10 million deaths in 2020, according to the WHO. In 2020, the following cancer types accounted for the majority of cases: breast (2.26 million cases), lung (2.21 million cases), colon and rectum (1.93 million cases), prostate (1.41 million cases), epidermis (1.20 million cases excluding melanoma), and stomach (1.09 million cases). Advances in cancer screening technologies and awareness programs have led to increased early detection of cancer. Early diagnosis often results in more effective treatment options, driving the demand for oncology drugs. Heightened awareness about cancer, facilitated by patient advocacy groups and educational initiatives, has improved understanding of risk factors, early symptoms, and the importance of timely medical intervention. This awareness contributes to a proactive approach to cancer management, driving the demand for effective oncology drugs. The rise in the number of cancers globally has profound implications for the market.

Surge in the global geriatric population

However, WHO estimates that by 2030, one in every six individuals will be sixty or older. By 2020, the proportion of the population aged 60 and older will have increased from one billion to 1.4 billion. The global population of individuals 60 and above is projected to increase twofold to 2.1 billion by 2050. The senior population often experiences a higher burden of cancer-related symptoms and side effects of therapy. Oncology drugs that address symptoms, improve quality of life, and provide palliative care become essential components of cancer care for older adults. Increased awareness about cancer in the genetic population, along with advocacy efforts, has led to a greater comprehension of the unique challenges faced by older cancer patients. This awareness contributes to a more comprehensive approach to cancer care, focusing on tailored drug therapies. The surge in the global geriatric population significantly expands the oncology drugs market, necessitating the development of targeted and specialized treatments for older adults with cancer.

Market Restraining Factors

Adverse effects associated with the usage of cancer drugs.

Many cancer drugs can cause toxicity in healthy tissues, leading to adverse effects such as nausea, vomiting, fatigue, and hair loss. The severity of these toxicities can vary and managing them effectively is crucial to ensure patient comfort and compliance with treatment regimens. Certain cancer drugs, particularly chemotherapy, can suppress the immune system, making patients more sensitive to infections. Some cancer drugs, particularly certain chemotherapies, and targeted therapies, can have adverse effects on the heart, leading to cardiotoxicity. Monitoring and managing cardiotoxicity are essential to prevent long-term cardiovascular complications. Adverse effects of cancer drugs can have a significant psychosocial impact on patients, leading to anxiety, depression, and changes in body image. Addressing the psychosocial factors of cancer care is crucial for holistic patient support. These factors will decline the market growth in the coming years.

Indication Outlook

Based on indication, the market is fragmented into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, esophagus cancer, cervical cancer, kidney cancer, bladder cancer, and other cancer. The lung cancer segment garnered a significant revenue share in the market in 2022. The use of oncology drugs in lung cancer is closely tied to ongoing research and clinical trials. Oncology drugs have significantly improved the landscape of lung cancer treatment. From targeted therapies to immunotherapies and combination regimens, these drugs offer a range of benefits that address the complexities of lung cancer and contribute to better patient outcomes. The ongoing evolution of precision medicine and the development of innovative therapies hold promise for further advancements in lung cancer treatment.

Drug Class Type Outlook

On the basis of drug class type, the market is segmented into chemotherapy, targeted therapy, immunotherapy (biologic therapy), and hormonal therapy. In 2022, the targeted therapy segment dominated the oncology drugs market with maximum revenue share. This is attributed to identifying molecular targets of cancer cells, fewer adverse effects, and the availability of several targeted therapeutics. Recent developments in cellular technology have enhanced the molecular comprehension of tumor cells and their metabolism, thereby increasing the demand for targeted drug therapies to treat cancer. On the contrary, market growth is anticipated to be most rapid in the need for immunotherapy over the projected period, owing to its efficacy and the expected launch of pipeline immunotherapies.

Oncology Drugs Market Report Coverage

Report Attribute	Details
Market size value in 2022	USD 152.4 Billion
Market size forecast in 2030	USD 273.3 Billion
Base Year	2022
Historical Period	2019 to 2021
Forecast Period	2023 to 2030
Revenue Growth Rate	CAGR of 7.7% from 2023 to 2030
Number of Pages	290
Number of Table	353
Report coverage	Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered	Indication, Drug Class Type, Region
Country scope	North America (US, Canada, Mexico, and Rest of North America) Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe) Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific) LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included	AbbVie, Inc., Amgen, Inc., Astellas Pharma, Inc., AstraZeneca PLC, Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis AG, Merck & Co., Inc. and Pfizer Inc.
Growth Drivers	Rise in the prevalence of cancer globally Surge in the global geriatric population
Restraints	Adverse effects associated with the usage of cancer drugs.

Regional Outlook

Region-wide, the market is further divided into North America, Europe, Asia Pacific and LAMEA. The Asia Pacific region acquired a substantial revenue share in the market in 2022. The rapidly rising rate of the senior population and increasing demand for improved healthcare facilities, especially in developing countries in the region, are some of the market drivers. The presence of big pharmaceutical industries like India and China will also boost the regional market growth. China is owing to the greater government spending on improving healthcare facilities within the region and the government's initiative to enhance the production of high-quality pharmaceuticals within the country.

Free Valuable Insights: Global Oncology Drugs Market size to reach USD 273.3 Billion by 2030

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AbbVie, Inc., Amgen, Inc., Astellas Pharma, Inc., AstraZeneca PLC, Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis AG, Merck & Co., Inc. and Pfizer Inc.

Strategies deployed in the Market

» Partnerships, Collaborations, and Agreements:

• Nov-2023: Astellas Pharma Inc. and Propella Therapeutics, Inc. announced the completion of a merger agreement, with Astellas acquiring Propella, a privately held biopharmaceutical company, utilized a proprietary platform combining medicinal chemistry with lymphatic targeting to develop new oncology drugs.
• Sep-2023: Bristol Myers Squibb Company and Samsung Biologics, a South Korean biotechnology company, signed an agreement for large-scale manufacturing of a Bristol Myers Squibb commercial antibody cancer drug substance. Under the new agreement, Samsung Biologics provided drug substance manufacturing at its latest and largest biomanufacturing facility, Plant 4, in Songdo, South Korea.
• Sep-2023: F. Hoffmann-La Roche Ltd. expanded its collaboration with Janssen Biotech Inc. to develop companion diagnostics for targeted therapies, enhancing research and innovation. The expanded agreement provided broader opportunities for collaboration in precision medicine, incorporating various companion diagnostics technologies like immunohistochemistry (IHC), digital pathology, next-generation sequencing, polymerase chain reaction, and immunoassays.
• 2023-Sep: Merck & Co., Inc. announced strategic drug discovery collaborations with BenevolentAI, London, U.K., and Exscientia, Oxford, U.K., utilizing AI-driven design and discovery capabilities to advance research. The partnerships aimed to produce novel clinical development drug candidates with first-in-class and best-in-class potential in oncology, neurology, and immunology.
• Sep-2023: Merck & Co., Inc., and the Institute of Cancer Research (ICR) renewed their strategic collaboration to discover and develop cancer therapeutics. Researchers from the institute's Centre for Cancer Drug Discovery collaborated with Merck to develop small-molecule inhibitors targeting a new class of cancer targets, with both parties contributing staff and financial resources for the partnership.
• Jun-2023: Astellas Pharma Inc. and Cullgen Inc., a privately held biopharmaceutical company, came into collaboration and exclusive option agreement to discover innovative protein degraders. The partnership aimed to develop targeted protein degraders by combining Cullgen's uSMITE platform with novel E3 ligands and Astellas' drug discovery capabilities.
• May-2023: Astellas Pharma Inc. and Sony Corporation, a conglomerate that specializes in the development, design, production, manufacture, and sale of an electronic equipment, collaborated to develop a novel Antibody-Drug Conjugate (ADC) platform in oncology, utilizing Sony's unique polymeric material, "KIRAVIATM Backbone." The goal was to selectively deliver anti-cancer drugs to target cells, enhancing efficacy while minimizing side effects. The research aimed to create high-performing ADCs with stable drug delivery and a high Drug-to-Antibody Ratio (DAR).
• May-2023: Janssen Biotech, part of Johnson & Johnson's Janssen Pharmaceutical Companies, collaborated with Cellular Biomedicine Group, a biomedicine company, develops treatments for cancerous and degenerative diseases in Greater China, to develop and commercialize next-gen CAR T-cell therapies for B-cell malignancies. The investigational CD20-directed CAR-Ts exhibited promising responses in Phase 1 studies for relapsed/refractory non-Hodgkin’s lymphoma in China, particularly in diffuse large B-cell lymphoma cases.
• Feb-2023: AstraZeneca PLC expanded its partnership with Sophia Genetics, a data-driven medicine software company with headquarters in Lausanne, Switzerland, applying multimodal data management and analytics technology to oncology drug development. Using Sophia's DDM platform, they combined molecular data, imaging analysis, digital.
• Jan-2023: AbbVie, Inc. and Immunome, Inc., a clinical-stage biopharmaceutical company, announced a worldwide collaboration and option agreement to discover up to 10 novel antibody-target pairs from three specified tumour types using Immunome's Discovery Engine. The collaboration aimed to unlock novel cancer biology, potentially yielding multiple therapeutic candidates. The utilization of Immunome's Discovery Engine was anticipated to enhance AbbVie's existing oncology pipeline.
• Nov-2022: F. Hoffmann-La Roche Ltd. entered a second collaboration and license agreement with Jnana Therapeutics, a biotech company using its next-gen chemoproteomics platform for discovering small molecule drugs. The collaboration aimed to address diseases with high unmet needs, covering multiple targets from various target classes.
• Nov-2022: Pfizer Inc reached a settlement agreement with Glenmark Pharmaceuticals for the cancer treatment drug Axitinib Tablets (1 mg and 5 mg). The Mumbai-based drug maker and its US-based unit signed the settlement pact with Pfizer Inc.
• Oct-2022: F. Hoffmann-La Roche Ltd. and Hookipa Pharma, a clinical stage company developing products to prevent and cure infectious diseases and cancer., forged a strategic partnership and license agreement for the development of HB-700 and an undisclosed arenaviral immunotherapy. Hookipa conducted research and initial Phase Ib clinical development for HB-700 to treat KRAS-mutated cancers. Upon trial completion, Roche obtained the right to develop and market the licensed products across various indications, subject to approval.
• Sep-2022: Pfizer extended its partnership with CytoReason, a tech company developing a computational model of the human body, to use CytoReason’s artificial intelligence technology for Pfizer’s drug development programs. Under the terms of the agreement, Pfizer will make a $20M equity investment, have options to license CytoReason’s platform and disease models, and fund supplementary project support, in a deal potentially worth up to $110M over the next five years.
• Mar-2022: Novartis AG strategically collaborated with Lantheus Holdings, Inc., incorporating PYLARIFY® in prostate cancer clinical trials with Pluvicto (lutetium Lu 177 vipivotide tetraxetan). Under the agreement, Lantheus supplied PYLARIFY for patient selection, and Novartis shared all PYLARIFY-related clinical imaging data with Lantheus.
• Dec-2021: Novartis Pharma AG and BeiGene, Ltd. entered an option, collaboration, and license agreement for the development, manufacturing, and commercialization of BeiGene's TIGIT inhibitor ociperlimab in North America, Europe, and Japan. Additionally, BeiGene obtained rights to market and detail five approved Novartis oncology products—TAFINLAR (dabrafenib), MEKINIST (trametinib), VOTRIENT (pazopanib), AFINITOR (everolimus), and ZYKADIA (ceritinib)—across designated regions of China termed "broad markets."
• Jul-2021: Pfizer Inc. collaborated with Arvinas, Inc., a biopharmaceutical company that develops protein degradation therapeutics., to develop and commercialize ARV-471, an investigational oral PROTAC (PROteolysis TArgeting Chimera) estrogen receptor protein degrader. The collaboration leveraged Arvinas' targeted protein degradation leadership and Pfizer's global capabilities and breast cancer expertise, enhancing ARV-471's development and potential commercialization while advancing Arvinas' strategy.
• Mar-2021: Novartis AG came into collaboration with Artios Pharma Limited (Artios) in a global research initiative, exploring and validating next-generation DNA Damage Response (DDR) targets to enhance Novartis' Radioligand Therapies (RLT). In the three-year partnership, Artios and Novartis conducted target discovery and validation, with Novartis selecting up to three exclusive DDR targets. Novartis obtained worldwide rights to utilize these targets with its RLTs.
• Dec-2020: AbbVie, Inc. and Frontier Medicines, Corp. announced a global strategic collaboration to discover, develop, and commercialize innovative small molecule therapeutics against challenging protein targets. The collaboration utilized Frontier's chemo proteomics platform to identify small molecules for targeting novel E3 ligases, oncology, and immunology targets. Unlike conventional methods, this approach offered the potential to target a broader range of proteins.
• Dec-2020: Pfizer Inc. and Myovant Sciences, helps women with uterine fibroids and endometriosis and men with prostate cancer by developing new medicines, collaborated to develop and commercialize relugolix, an oral gonadotropin-releasing hormone (GnRH) receptor antagonist, in oncology and women's health in the U.S. and Canada. Pfizer gained an exclusive option for relugolix commercialization in oncology outside the U.S. and Canada, excluding specific Asian countries.
• Oct-2020: Novartis AG partnered with Molecular Partners AG, a clinical-stage biopharmaceutical company based in Zürich, Switzerland, to develop and commercialize the anti-COVID-19 DARPin program, featuring candidates MP0420 and MP0423, aiming to expedite development using Molecular Partners' DARPin technologies and Novartis' expertise in drug development and commercialization in response to the urgent global need during the pandemic.
• Sep-2020: AbbVie, Inc. and I-Mab, a global biotechnology company, signed a global collaboration agreement for the development and commercialization of lemzoparlimab (TJC4), an anti-CD47 monoclonal antibody developed by I-Mab for treating various cancers. The agreement also included the potential expansion of collaboration to additional transformative therapies.
• Jun-2020: AbbVie, Inc. and Genmab A/S, an international biotech company specializing in creation and development of differentiated antibody therapeutics for treatment of cancer., concluded a collaboration to jointly develop and commercialize three early-stage bispecific antibody candidates and explore future antibody therapeutics for cancer. This partnership combined Genmab's expertise with AbbVie's clinical experience and innovative platforms.
• Jun-2020: Roche Pharma India, a subsidiary of F. Hoffmann-La Roche Ltd., extended its partnership with Cipla, a Mumbai-based multinational pharmaceutical company. This expanded collaboration included marketing and distribution of Roche's oncology drugs - trastuzumab (Herclon), bevacizumab (Avastin), and rituximab (Ristova) in India. The agreement aimed to maintain Roche's focus on providing innovations in India's healthcare system and fostering collaboration with stakeholders for improved patient outcomes.

» Product Launches and Product Expansions:

• Jun-2023: AstraZeneca PPLC launched its groundbreaking cancer medication, IMJUDO (tremelimumab), in the UAE. This move positioned the UAE as one of the first countries in the Middle East to provide access to the medication, signifying a notable advancement in cancer treatment. The drug demonstrated promising results, extending progression-free survival and overall survival rates, leading to improved treatment outcomes and a higher quality of life for patients.
• May-2022: F. Hoffmann-La Roche Ltd. introduced PHESGO, a drug for breast cancer treatment. PHESGO, the first fixed-dose formulation in oncology combining Perjeta and Herceptin with hyaluronidase, was administered via subcutaneous injection along with intravenous chemotherapy for early and metastatic breast cancer. The launch enhanced efficiency in healthcare systems, requiring less preparation and administration time, freeing up time for patients and healthcare professionals, and offering cost-saving benefits.

» Acquisitions and Mergers:

• Oct-2023: Bristol Myers Squibb Company and Mirati Therapeutics, Inc. finalized a merger agreement, with Bristol Myers Squibb acquiring Mirati. Through this acquisition, Bristol Myers Squibb added KRAZATI, a significant lung cancer medicine, to its commercial portfolio and gained access to promising clinical assets for its oncology pipeline and combination strategies.
• Apr-2023: Astellas Pharma Inc. and Iveric bio, Inc., a biopharmaceutical company focused on the discovery and development of novel treatment, entered a definitive agreement in which Astellas, through Berry Merger Sub, Inc., a wholly owned subsidiary of Astellas US Holding, Inc., acquired 100% of Iveric Bio's outstanding shares for $40.00 per share in cash, totalling approximately $5.9 billion in equity value. Iveric Bio became an indirectly wholly owned subsidiary of Astellas in the acquisition, considering approximately 148.2 million fully diluted outstanding shares of Iveric Bio common stock.
• Jan-2023: Merck & Co., Inc. completed the acquisition of Imago Biosciences, Inc. at a cash purchase price of $36.00 per share. Following the merger, Imago became a wholly owned subsidiary of Merck, and its common stock ceased trading on the Nasdaq Global Market.
• Dec-­2022: Johnson & Johnson announced that it completed its acquisition of Abiomed, a medical device technology company that operates as a stand-alone business within Johnson & Johnson's MedTech Segment. This acquisition marks another important step on Johnson & Johnson’s path to accelerating growth in our MedTech business and delivering innovative medical technologies to more people around the world.
• Oct­-2022: AbbVie, Inc. acquired DJS Antibodies Ltd, a UK biotech company focusing on developing antibodies for challenging disease-causing proteins. DJS-002, their lead program, aimed at treating Idiopathic Pulmonary Fibrosis (IPF) and other fibrotic diseases.
• Sep-2022: F. Hoffmann-La Roche Ltd. acquired Good Therapeutics, a US-based biopharmaceutical company, through a definitive merger agreement for an upfront cash payment of $250 million. The acquisition granted Roche rights to Good Therapeutics' conditionally active, PD-1-regulated IL-2 program and exclusive access to the platform technology for developing PD-1-regulated IL-2 receptor agonist therapies.
• Jun-2022: Bristol Myers Squibb acquired Turning Point Therapeutics in a definitive merger agreement, expanding its oncology franchise with a best-in-class precision oncology asset. Giovanni Caforio, M.D., Board Chair, and Chief Executive Officer at Bristol Myers Squibb stated that the transaction bolstered their growth profile through strategic business development.
• Oct-2021: Amgen, Inc. completed the acquisition of Teneobio, Inc., a biotechnology company that specializes in the development of human heavy chain antibodies, expanding its multispecific architectures and advancing the mission to develop transformative innovations for best-in-class products to serve patients.
• Aug-2020: Johnson & Johnson acquired Momenta Pharmaceuticals, a biotechnology company, specializes in the in the characterization and process engineering of complex molecules., for approximately $6.5 billion in an all-cash transaction, enhancing Janssen Pharmaceutical Companies' leadership in immune-mediated diseases. The deal included global rights to nipocalimab (M281), a potentially best-in-class anti-FcRn antibody, providing opportunities to address various autoimmune diseases with substantial unmet medical needs.

Scope of the Study

Market Segments Covered in the Report:

By Indication

• Breast Cancer
• Prostate Cancer
• Lung Cancer
• Stomach Cancer
• Colorectal Cancer
• Liver Cancer
• Esophagus Cancer
• Cervical Cancer
• Kidney Cancer
• Bladder Cancer
• Other Cancer

By Drug Class Type

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

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• AbbVie, Inc.
• Amgen, Inc.
• Astellas Pharma, Inc.
• AstraZeneca PLC
• Bristol Myers Squibb Company
• F.Hoffmann-La Roche Ltd.
• Johnson & Johnson
• Novartis AG
• Merck & Co., Inc.
• Pfizer Inc.