Global Cancer Therapy Market Size (2024 - 2029)

The cancer therapy market is projected to experience significant growth during the forecast period, driven by various factors such as the increasing prevalence of cancer, enhanced patient assistance programs, and government initiatives aimed at raising cancer awareness. The demand for personalized medicine, supported by technological advancements like artificial intelligence, is also contributing to the market's expansion. Despite these positive trends, challenges such as fluctuating reimbursement policies and the high cost of therapies may hinder the market's growth.

INSTANT ACCESS

Market Size of Global Cancer Therapy Industry

Cancer Therapy Market Summary
Study Period 2021-2029
Market Size (2024) USD 220.24 Billion
Market Size (2029) USD 409.68 Billion
CAGR (2024 - 2029) 10.64 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

Cancer Therapy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Cancer Therapy Market Analysis

The Global Cancer Therapy Market size is estimated at USD 220.24 billion in 2024, and is expected to reach USD 409.68 billion by 2029, growing at a CAGR of 10.64% during the forecast period (2024-2029).

The factors driving the market's growth include increasing patient assistance programs (PAPs), increasing government initiatives for cancer awareness, the rising prevalence of cancer worldwide, vital R&D initiatives from key players, and the increasing demand for personalized medicine. For instance, in November 2023, the American Cancer Society introduced a new program, Community Access to Resources, Education, and Support (ACS CARES), which provides quality information and one-on-one support to cancer patients through the mobile application. This program focuses on improving the accessibility of cancer care services to patients and caregivers by improving information. Thus, such initiatives may enhance the adoption of cancer therapy and contribute to the market's growth.

The technological advancements to enhance the planning of personalized medicines fuel the demand and raise its adoption; thus, it is expected to contribute to the market's growth. Artificial intelligence-based technology for personalized care medicine improves healthcare professionals in therapy planning and early multi-cancer diagnostics. It is used in applications such as developing personalized medical products by utilizing patient data to improve the effectiveness and safety of therapy for cancer patients, fueling the demand for personalized medicine.

Furthermore, the growing burden of cancer globally further raises the need for cancer therapies to treat different types of cancers and is anticipated to drive market growth. For instance, in January 2024, according to the American Cancer Society, over 18 million Americans were reported to have a history of cancer in the year 2022. It is estimated that over 2 million new cancer cases are expected to be diagnosed in the United States in 2024.

Thus, the factors above, such as the rising burden of cancer, the increasing number of government initiatives, and increasing demands for personalized medicine, contribute to the market's growth of cancer therapy during the forecast period. However, the fluctuations in reimbursement policies and the high cost of cancer therapies can impede the market's growth.

Cancer Therapy Industry Segmentation

According to the scope of the report, cancer therapies are drugs that obstruct the growth and augmentation of cancer by interfering with specific molecules, such as DNA or proteins, that are involved in the development or expansion of cancerous cells. These therapies incorporate surgery, chemotherapy, radiation therapy, immunotherapy, and others. The market is segmented by therapy type, cancer type, end user, and geography. The market is segmented by therapy type into immunotherapy, chemotherapy, targeted therapy, hormonal therapy, and other therapy types. By cancer type, the market is segmented into breast cancer, blood cancer, gastrointestinal cancer, prostate cancer, respiratory/lung cancer, gynecologic cancer, and other cancer types. By end user, the market is segmented as specialty clinics, hospitals, and cancer and radiation therapy centers. The market is geographically segmented into North America, Europe, Asia-Pacific, South America, the Middle East and Africa. The market size is provided for each segment in terms of USD value.

By Therapy Type
Chemotherapy
Targeted Therapy
Immunotherapy
Hormonal Therapy
Other Treatment Types
By Cancer Type
Blood Cancer
Breast Cancer
Prostate Cancer
Gastrointestinal Cancer
Gynaecologic Cancer
Respiratory/Lung Cancer
Other Cancer Types
By End User
Hospitals
Specialty Clinics
Cancer and Radiation Therapy Centers
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
Need A Different Region Or Segment?
Customize Now

Global Cancer Therapy Market Size Summary

The cancer therapy market is poised for significant growth over the forecast period, driven by a combination of increasing cancer prevalence, government initiatives, and advancements in personalized medicine. The rising global burden of cancer has heightened the demand for effective therapies, with key players investing in research and development to innovate and improve treatment options. Programs like the American Cancer Society's ACS CARES aim to enhance patient access to information and support, further boosting the adoption of cancer therapies. Technological advancements, particularly in artificial intelligence, are enhancing the planning and effectiveness of personalized medicine, contributing to market expansion. However, challenges such as fluctuating reimbursement policies and the high cost of therapies may impede growth.

The targeted therapy segment is experiencing robust growth due to its ability to specifically target cancer cells, improving treatment outcomes. Initiatives like patient assistance programs are making targeted therapies more accessible, thereby increasing their adoption. The high prevalence of cancers such as lymphoma underscores the need for effective targeted treatments. Market players are actively pursuing product approvals and strategic collaborations to enhance their offerings, as seen with recent FDA approvals and partnerships in North America. The region's high cancer burden and concentration of key industry players are expected to drive significant market growth. Major companies like Amgen, AstraZeneca, and Pfizer are leading the market, employing strategies such as collaborations and acquisitions to expand their portfolios and maintain competitive advantage.

Explore More

Global Cancer Therapy Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Patient Assistance Programs (PAPs) and Rising Demand for Personalized Medicine

      2. 1.2.2 Growing Government Initiatives for Cancer Awareness

      3. 1.2.3 Rising Prevalence of Cancer Worldwide

      4. 1.2.4 Strong R&D Initiatives from Key Players

    3. 1.3 Market Restraints

      1. 1.3.1 Fluctuation in Reimbursement Policies

      2. 1.3.2 High Cost of Cancer Therapies

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 2.1 By Therapy Type

      1. 2.1.1 Chemotherapy

      2. 2.1.2 Targeted Therapy

      3. 2.1.3 Immunotherapy

      4. 2.1.4 Hormonal Therapy

      5. 2.1.5 Other Treatment Types

    2. 2.2 By Cancer Type

      1. 2.2.1 Blood Cancer

      2. 2.2.2 Breast Cancer

      3. 2.2.3 Prostate Cancer

      4. 2.2.4 Gastrointestinal Cancer

      5. 2.2.5 Gynaecologic Cancer

      6. 2.2.6 Respiratory/Lung Cancer

      7. 2.2.7 Other Cancer Types

    3. 2.3 By End User

      1. 2.3.1 Hospitals

      2. 2.3.2 Specialty Clinics

      3. 2.3.3 Cancer and Radiation Therapy Centers

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Spain

        6. 2.4.2.6 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 South Korea

        6. 2.4.3.6 Rest of Asia-Pacific

      4. 2.4.4 Middle East and Africa

        1. 2.4.4.1 GCC

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Rest of Middle East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of South America

Global Cancer Therapy Market Size FAQs

The Global Cancer Therapy Market size is expected to reach USD 220.24 billion in 2024 and grow at a CAGR of 10.64% to reach USD 409.68 billion by 2029.

In 2024, the Global Cancer Therapy Market size is expected to reach USD 220.24 billion.

Cancer Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)