Global Oncology Drug Market - Forecasts from 2020 to 2025
The global oncology drug market was estimated at US$199.933 billion for the year 2019. The growing prevalence of cancer is the prime factor that is significantly driving the global oncology drugs market growth throughout the forecast period. Cancer is a type of disease in which abnormal cells grow and forms a tumor, these cells have the potential spread throughout the body through the blood and lymphatic system and may damage the body part and in the worst case may lead to death. The demand for cancer drugs is growing significantly throughout the globe due to the rising prevalence of different types of cancer around the world. In addition, the continuous investments in the form of R&D for the development of new drugs is also projected to bolster the oncology drugs market during the forecast period and beyond. The increasing healthcare expenditure is also one of the factors which is expected to augment the growth opportunities for the drug manufacturers in the coming years.
Rising prevalence of cancer is driving the demand
According to the World Health Organization, cancer is the second leading cause of death globally, with an estimated 9.6 million deaths worldwide in 2018, and this number is on the rise. Furthermore, the rise in the geriatric population is also resulting in the increasing number of cancer cases because the process of aging favors two essential processes in cancer development: the acquisition of mutations and the formation of a molecular and cellular environment that favors carcinogenesis. According to the American Cancer Society, Inc. nearly nine out of ten cancers are diagnosed in people over the age of 50. Increasing consumption of tobacco and alcohol is also the reason for the increasing number of cancer cases but the consumption of both of them together further worsens their effect. In addition, rising pollution and environmental changes have also led to the rising concentration of carcinogens in the air which is further responsible for increasing the prevalence of cancer.
In addition, it is estimated that the estimated number of incident cases for all types of cancer will increase from 18,078,957 in 2018 to 29,532,99 by 2040 (Source: GLOBOCAN 2018, World Health Organization). Therefore, the growing number of cancer cases is anticipated to significantly drive the demand for oncology drugs during the next five years. Similarly, according to the data provided by the U.S. Department of Health and Human Services, the new number of cancer cases is expected to increase to 1.9 million people per year by 2020 from 1.5 million people per year in 2010.
Booming healthcare is expected to surge the market growth
The position of healthcare in many of the developing countries is still at a young stage. There is a staging difference between the survival rates when compared to the developed nations. According to the data by the World Health Organization, the mortality rate of cancer worldwide comes up to 52.52%, whereas in Europe the survival rate is at 45.95% and in Africa, it comes to 65.72%, with the central Africa region getting up to 71.82%. This difference is mainly because of the lack of education and availability of proper treatment facilities in developing economies. According to WHO, the major burden of the rise in the cases of cancer will befall on these regions. Additionally, many of the cases in these regions go undetected or untreated because of a lack of awareness or families not being able to afford the treatment. Thus, the growing healthcare spending is anticipated to propel the market growth opportunities for key market players in the coming years.
Lung cancer to hold a significant market share
By the type of cancer, the global oncology drug market has been segmented into lung cancer, blood cancer, breast cancer, liver cancer, and others. The market for lung cancer is projected to hold a significant share in the global oncology drugs market on account of the growing number of smokers around the globe. The people exposed to second-hand smoke are also at a higher risk of lung cancer. Furthermore, the growing number of lung cancer cases in some regions is also propelling the market growth of this segment. For instance, according to the report from the European Union, lung cancer accounted for almost 20% of the total cancer cases throughout the region in 2016. Breast cancer is expected to surge at a decent rate due to the growing number of cases. In the United States, breast cancer accounted for an average of 19.6% of the total deaths that occurred during 2007-2020.
Asia Pacific to show decent growth opportunities over the forecast period
Geographically, the global oncology drug market has been classified into North America, South America, Europe, Middle East and Africa, Asia Pacific. The Asia Pacific region is anticipated to propel at a notable rate on account of the growing healthcare sector of various developing countries such as India, China, and Indonesia, due to the improving economic conditions. The growing prevalence of cancer due to lack of proper medical facilities is also anticipated to drive the demand for oncology drugs throughout the region. The North American and the European region are expected to hold a notable share in the market due to the presence of well-established healthcare industry in countries such as the United States, Canada, Germany, and Italy among others. Furthermore, the presence of key market players in these regions is also one of the key factors which is supplementing the market growth in these regions over the next five years.
Competitive Insights
Prominent key market players in the global oncology drug market include F. Hoffmann-La Roche Ltd, Novartis AG, Bayer Ag, Merck & Co., Inc., and Johnson & Johnson Services, Inc. among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.
Major players in the global oncology drug market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Segmentation
Rising prevalence of cancer is driving the demand
According to the World Health Organization, cancer is the second leading cause of death globally, with an estimated 9.6 million deaths worldwide in 2018, and this number is on the rise. Furthermore, the rise in the geriatric population is also resulting in the increasing number of cancer cases because the process of aging favors two essential processes in cancer development: the acquisition of mutations and the formation of a molecular and cellular environment that favors carcinogenesis. According to the American Cancer Society, Inc. nearly nine out of ten cancers are diagnosed in people over the age of 50. Increasing consumption of tobacco and alcohol is also the reason for the increasing number of cancer cases but the consumption of both of them together further worsens their effect. In addition, rising pollution and environmental changes have also led to the rising concentration of carcinogens in the air which is further responsible for increasing the prevalence of cancer.
In addition, it is estimated that the estimated number of incident cases for all types of cancer will increase from 18,078,957 in 2018 to 29,532,99 by 2040 (Source: GLOBOCAN 2018, World Health Organization). Therefore, the growing number of cancer cases is anticipated to significantly drive the demand for oncology drugs during the next five years. Similarly, according to the data provided by the U.S. Department of Health and Human Services, the new number of cancer cases is expected to increase to 1.9 million people per year by 2020 from 1.5 million people per year in 2010.
Booming healthcare is expected to surge the market growth
The position of healthcare in many of the developing countries is still at a young stage. There is a staging difference between the survival rates when compared to the developed nations. According to the data by the World Health Organization, the mortality rate of cancer worldwide comes up to 52.52%, whereas in Europe the survival rate is at 45.95% and in Africa, it comes to 65.72%, with the central Africa region getting up to 71.82%. This difference is mainly because of the lack of education and availability of proper treatment facilities in developing economies. According to WHO, the major burden of the rise in the cases of cancer will befall on these regions. Additionally, many of the cases in these regions go undetected or untreated because of a lack of awareness or families not being able to afford the treatment. Thus, the growing healthcare spending is anticipated to propel the market growth opportunities for key market players in the coming years.
Lung cancer to hold a significant market share
By the type of cancer, the global oncology drug market has been segmented into lung cancer, blood cancer, breast cancer, liver cancer, and others. The market for lung cancer is projected to hold a significant share in the global oncology drugs market on account of the growing number of smokers around the globe. The people exposed to second-hand smoke are also at a higher risk of lung cancer. Furthermore, the growing number of lung cancer cases in some regions is also propelling the market growth of this segment. For instance, according to the report from the European Union, lung cancer accounted for almost 20% of the total cancer cases throughout the region in 2016. Breast cancer is expected to surge at a decent rate due to the growing number of cases. In the United States, breast cancer accounted for an average of 19.6% of the total deaths that occurred during 2007-2020.
Asia Pacific to show decent growth opportunities over the forecast period
Geographically, the global oncology drug market has been classified into North America, South America, Europe, Middle East and Africa, Asia Pacific. The Asia Pacific region is anticipated to propel at a notable rate on account of the growing healthcare sector of various developing countries such as India, China, and Indonesia, due to the improving economic conditions. The growing prevalence of cancer due to lack of proper medical facilities is also anticipated to drive the demand for oncology drugs throughout the region. The North American and the European region are expected to hold a notable share in the market due to the presence of well-established healthcare industry in countries such as the United States, Canada, Germany, and Italy among others. Furthermore, the presence of key market players in these regions is also one of the key factors which is supplementing the market growth in these regions over the next five years.
Competitive Insights
Prominent key market players in the global oncology drug market include F. Hoffmann-La Roche Ltd, Novartis AG, Bayer Ag, Merck & Co., Inc., and Johnson & Johnson Services, Inc. among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.
Major players in the global oncology drug market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Segmentation
- By Type of Cancer
- Lung Cancer
- Blood Cancer
- Breast Cancer
- Liver Cancer
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Others
1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL ONCOLOGY DRUG MARKET ANALYSIS, BY TYPE OF CANCER
5.1. Introduction
5.2. Lung Cancer
5.3. Blood Cancer
5.4. Breast Cancer
5.5. Liver Cancer
5.6. Others
6. GLOBAL ONCOLOGY DRUG MARKET ANALYSIS, BY GEOGRAPHY
6.1. Introduction
6.2. North America
6.2.1. North America Oncology Drug Market, By Type of Cancer
6.2.2. By Country
6.2.2.1. USA
6.2.2.2. Canada
6.2.2.3. Mexico
6.3. South America
6.3.1. South America Oncology Drug Market, By Type of Cancer
6.3.2. By Country
6.3.2.1. Brazil
6.3.2.2. Argentina
6.3.2.3. Others
6.4. Europe
6.4.1. Europe Oncology Drug Market, By Type of Cancer
6.4.2. By Country
6.4.2.1. Germany
6.4.2.2. France
6.4.2.3. United Kingdom
6.4.2.4. Spain
6.4.2.5. Others
6.5. Middle East and Africa
6.5.1. Middle East and Africa Oncology Drug Market, By Type of Cancer
6.5.2. By Country
6.5.2.1. Saudi Arabia
6.5.2.2. Israel
6.5.2.3. Others
6.6. Asia Pacific
6.6.1. Asia Pacific Oncology Drug Market, By Type of Cancer
6.6.2. By Country
6.6.2.1. China
6.6.2.2. Japan
6.6.2.3. South Korea
6.6.2.4. India
6.6.2.5. Others
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. AbbVie Inc.
8.2. F. Hoffmann-La Roche Ltd
8.3. Novartis AG
8.4. AstraZeneca
8.5. Johnson & Johnson Services, Inc.
8.6. Bayer AG
8.7. Merck & Co., Inc.
8.8. Bristol-Myers Squibb Company
8.9. Astellas Pharma Inc.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL ONCOLOGY DRUG MARKET ANALYSIS, BY TYPE OF CANCER
5.1. Introduction
5.2. Lung Cancer
5.3. Blood Cancer
5.4. Breast Cancer
5.5. Liver Cancer
5.6. Others
6. GLOBAL ONCOLOGY DRUG MARKET ANALYSIS, BY GEOGRAPHY
6.1. Introduction
6.2. North America
6.2.1. North America Oncology Drug Market, By Type of Cancer
6.2.2. By Country
6.2.2.1. USA
6.2.2.2. Canada
6.2.2.3. Mexico
6.3. South America
6.3.1. South America Oncology Drug Market, By Type of Cancer
6.3.2. By Country
6.3.2.1. Brazil
6.3.2.2. Argentina
6.3.2.3. Others
6.4. Europe
6.4.1. Europe Oncology Drug Market, By Type of Cancer
6.4.2. By Country
6.4.2.1. Germany
6.4.2.2. France
6.4.2.3. United Kingdom
6.4.2.4. Spain
6.4.2.5. Others
6.5. Middle East and Africa
6.5.1. Middle East and Africa Oncology Drug Market, By Type of Cancer
6.5.2. By Country
6.5.2.1. Saudi Arabia
6.5.2.2. Israel
6.5.2.3. Others
6.6. Asia Pacific
6.6.1. Asia Pacific Oncology Drug Market, By Type of Cancer
6.6.2. By Country
6.6.2.1. China
6.6.2.2. Japan
6.6.2.3. South Korea
6.6.2.4. India
6.6.2.5. Others
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. AbbVie Inc.
8.2. F. Hoffmann-La Roche Ltd
8.3. Novartis AG
8.4. AstraZeneca
8.5. Johnson & Johnson Services, Inc.
8.6. Bayer AG
8.7. Merck & Co., Inc.
8.8. Bristol-Myers Squibb Company
8.9. Astellas Pharma Inc.
