CAGR: 7.40%Current Market Size: USD 150.6 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global Anti-Cancer drug market is expected to grow from USD 150.6 billion in 2022 to USD 266.5 billion by 2030, at a CAGR of 7.40% during the Projection period 2023-2030. The growth of the Anti-cancer drug market is mainly driven by owing to the increasing multiple cancer incidences, especially in developed economies.
Cancer is a dangerous disease in which the patient's body develops a tumor in a certain organ as a result of the growth of cancer cells. The body becomes weak and susceptible as a result of these malignant cells damaging the organ because of this the organ functions will alter. Anti-cancer drugs are hence the ones that are given to cancer patients to combat malignant cells. According to an article in Cancer Connect 2020, researchers from the Dana Farber Cancer Institute found that the six most frequent cancer types—breast, colorectal, lung, pancreatic, gastric, and esophageal cancers—had a 46% decline in diagnoses during the COVID-19 pandemic. Additionally, it was advised to delay elective surgeries, cancer screenings, and other health prevention services unless the risks outweighed the benefits and to prepare the hospital infrastructure for the care of COVID-19 patients by the Centers for Disease Control and Prevention (CDC) and many other medical professional organizations. Thus, the market for cancer therapies has been influenced by the COVID-19 pandemic.
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Market Dynamics:
Drivers:
The rising incidence rate of different types of cancers, including skin cancer, liver cancer, and many more, is directly driving the demand for efficient medical care. The highest incidence rate of all cancers is lung cancer, therefore, an increase in prevalence would likely have a direct impact on the need for anti-cancer drugs.
Restraints:
The fear of failure and negative effects, along with the significant expenses involved in developing new drugs and research and development capabilities, will be one of the largest market barriers. Lack of awareness and the necessary infrastructure in underdeveloped economies, strict government rules regarding the approval of biosimilars, and unfavourable conditions would hinder the market's expansion rate. In addition, Unmet medical demands, a slow medication and inhibitor approval rate, and an increase in patent expiration cases will hinder the market growth.
Opportunities:
Increasing research and development activities is caused by increased strategic partnerships between public and private market actors. These capabilities in research and development for new drugs and medical technology will increase the demand for anti-cancer drug. Additionally, the introduction of novel cancer treatments, increased public and private activities to raise awareness, and the growing acceptance of cutting-edge therapies are the drivers that will accelerate market expansion. The market's growth rate will be positively impacted by additional variables such as the rise in demand for effective therapies, the availability of affordable medications, and the rising acceptance rate of early diagnostic techniques.
Challenges:
These treatments are now preferred by patients and medical professionals because they are less likely to cause side effects than other options. This is a result of an increase in targeted therapy-based medication research and development over the past few years. As a result, there will be a direct impact on the growth of the market for pharmaceuticals used in supportive cancer care; as a result, the market's growth rate will be slowed down.
Segmentation Analysis:
The global Anti-Cancer drug market has been segmented based on indication, drug, route of administration, end-user, distribution channels, and region.
By Indication
The indication segment is breast cancer, lung cancer, prostate cancer, gynecologic cancer, gastrointestinal cancer, and others. The lung cancer segment led the largest share of the Anti-Cancer drug market with a market share of around 30% in 2022. Men are more likely than women to develop lung cancer. Nevertheless, men are more likely than women to acquire prostate disease in industrialized nations, particularly in North America and Europe. Breast is the most prevalent form observed in both developed and developing economies among females.
By Drug
The drug segment is cytotoxics, targeted therapy, hormonal therapy, and others. The targeted therapy segment led the largest share of the Anti-Cancer drug market with a market share of around 35% in 2022. In targeted therapy, which is used to treat cancer, the medications specifically target the genes or proteins that are present in the cancer cells. Apoptosis inducers, angiogenesis inhibitors, signal transduction inhibitors, hormone therapies, gene expression modulators, and many other treatments are examples of targeted therapeutics for cancer. Numerous new targets are being investigated in the rapidly expanding field of targeted therapy for cancer. For instance, some cancer cells have highly expressed human epidermal growth factor receptor 2 (HER-2) proteins on their surface. Trastuzumab (Herceptin), a medication licensed to treat some breast and stomach cancers that overexpress HER-2, is one of many targeted medicines that target this gene.
By End-User
The end-user segment is hospitals, home care, speciality clinics, and others. The hospital’s segment led the largest share of the Anti-Cancer drug market with a market share of around 33% in 2022. Hospitals with a safety-net mission, like the vital hospitals, have historically been committed to offering top-notch treatment to all populations and fulfill the responsibility of taking care of the patients.
Global Anti-Cancer Drug Market- Sales Analysis.
The sale of the Anti-Cancer drug market expanded at a CAGR of 6.70% from 2016 to 2022.
One major reason driving the expansion of the global anticancer drug market is the rise in cancer-related fatalities. Cancer is a group of diseases associated with abnormal cell growth that has the potential to hurt or spread to other body parts. Leukaemia, lymphomas, sarcomas, and carcinomas are among the more common types of tumors. Sarcomas develop in connective tissue, including muscle and bone. In oily tissues, delicate tissue sarcomas can begin. Additionally, the treatment of cancer in patients necessitates the use of numerous drugs, including hormone therapy, immunotherapy, focused therapy, and others.
Additionally, monoclonal antibody-based natural medicines (mAbs) have become popular to treat various cancer types, notably blood disorders (leukemia). The primary factors propelling the growth of the global oncology/malignancy pharmaceuticals market are the rise in prevalence of various illness conditions, expansion in the availability of advanced treatments (organic and drug-focused treatments), and a flood of the geriatric population in general. Additionally, increasing awareness of cancer and the availability of illness medications are necessary to promote market growth.
Thus, owing to the aforementioned factors, the global Anti-Cancer drug market is expected to grow at a CAGR of 7.40% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the Anti-Cancer drug market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the Anti-Cancer drug market and held a 38% share of the market revenue in 2022.
Global Anti-Cancer Drug Market- Country Analysis:
Germany's Anti-Cancer drug market size was valued at USD 0.11 billion in 2022 and is expected to reach USD 0.17 billion by 2030, at a CAGR of 5.8% from 2023 to 2030. Due to their lesser side effects, greater awareness of their availability, and supportive reimbursement rules for expensive targeted therapies, these regions have a high adoption rate for personalized and targeted therapies. Additionally, because they have fewer adverse effects, targeted medicines are widely used in these regions.
China’s Anti-Cancer drug market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.27 billion by 2030, at a CAGR of 6.9% from 2023 to 2030. Due to the good medical infrastructure and high levels of personal disposable resources in these locations, targeted therapy is a widely used form of treatment. Various elements are expected to be the main forces behind the market expansion in these regions.
India's Anti-Cancer drug market size was valued at USD 0.15 billion in 2022 and is expected to reach USD 0.24 billion by 2030, at a CAGR of 6.3% from 2023 to 2030. The regional market is expanding as a result of growing knowledge of the advantages of early detection, increased disposable incomes, an increase in the prevalence of certain types of cancer, and anticipated pipeline medications.
Key Industry Players Analysis:
To increase their market position in the global anti-cancer drug business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7.40% |
Market Size |
150.6 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Indication, By Drug, By Route of Administration, By End-User, By Distribution Channel, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Pfizer Inc, AstraZeneca, ANI Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Hikma Pharmaceuticals PLC, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Cipla Inc., Amneal Pharmaceuticals LLC, Glenmark Pharmaceuticals Limited, Fresenius Kabi AG, Mayne Pharma Group Limited, Mylan N.V., Novartis AG., Vintage Labs, Dr. Reddy's Laboratories Ltd, Jiangsu Hengrui Medicine Co., Ltd, Novo Nordisk A/S, Otsuka America Pharmaceutical, Inc., and WOCKHARDT. |
By Indication |
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By Drug |
|
By Route of Administration |
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By End-User |
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By Distribution Channel |
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Regional scope |
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Scope of the Report
Global Anti-Cancer Drug Market By Indication:
Global Anti-Cancer Drug Market By Drug:
Global Anti-Cancer Drug Market By Route of Administration:
Global Anti-Cancer Drug Market By End-User:
Global Anti-Cancer Drug Market By Distribution Channel:
Global Anti-Cancer Drug Market By Region:
Global Anti-Cancer drug market is expected to reach USD 266.5 billion by 2030.
The Anti-Cancer drug market is projected to have a CAGR of 7.40%.
Surging incidence rate of different types of cancer such as breast cancer, liver cancer, skin cancer, and much more is directly propelling the demand for effective medical treatment.
Based on the indication, the global Anti-Cancer drug market has been segmented into breast cancer, lung cancer, prostate cancer, gynecologic cancer, gastrointestinal cancer, and others.
Leading market players active in the global Anti-Cancer drug market are Pfizer Inc, AstraZeneca, ANI Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Hikma Pharmaceuticals PLC, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Cipla Inc., Amneal Pharmaceuticals LLC, Glenmark Pharmaceuticals Limited, Fresenius Kabi AG, Mayne Pharma Group Limited, Mylan N.V., Novartis AG., Vintage Labs, Dr. Reddy's Laboratories Ltd, Jiangsu Hengrui Medicine Co., Ltd, Novo Nordisk A/S, Otsuka America Pharmaceutical, Inc., and WOCKHARDT among others.
Political Factors- In the world, there is a significant presence of the anti-cancer drug market. The producers of anti-cancer drugs have political solid ties across several countries. The manufacturers have put a lot of money into campaigning for favourable laws for their business. It requires the backing of political administrations because it provides healthcare services. All countries have a fairly stable political system, which makes it a good environment to run a business. The new government's plans should be taken into account by the anti-cancer drug market.
Economical Factors- The pandemic has caused substantial unemployment and decreased income levels for the populace. In this fiscal year, both the average family expenditure and the disposable income have significantly decreased. Government-sponsored economic stimulus measures may raise average household income and GDP, both of which are beneficial to businesses. The anti-cancer drug market should keep an eye on the rate of inflation, the GDP growth, and the vaccination programme that supports the country economy.
Social Factor- There is a high level of expertise in using healthcare services. Peoples are vigilant and closely monitor the healthcare industry. As they are more interested in healthcare services because of COVID. The producers of anti-cancer drugs should provide new services for the new age groups due to the changing demography. After the epidemic, the number of insurance plans bought by people in the 25–35 age range significantly increased. Manufacturers of anti-cancer drugs should be aware of the quick change. The epidemic also taught us to be proactive in health systems and avoid wasting money.
Technological Factors- The use of technology has significantly altered consumer behaviour. The procedure of receiving healthcare services is streamlined thanks to technology. Manufacturers of anti-cancer drugs should employ analytics to follow data and gather insightful information to create new goods and services. The business should adopt new technology to gather data and draw conclusions in order to provide services in an efficient manner. In order to protect the information, they can use cutting-edge technology like AI and blockchain.
Environmental Factors- The anti-cancer drug market didn't produce enough carbon dioxide to significantly contribute to climate change. But natural calamities will have an impact on the economy. People who used insurance and health care services would suffer economic losses as a result of this natural disaster. They might be unable to pay the premium, which would be bad for business. To increase its environmental contribution, the producers of anti-cancer drugs must invest heavily in these circumstances. The effects of natural calamities will also affect the company's activities. The makers must take precautions for risk management and should be aware of this danger.
Legal Factors- Manufacturers of anti-cancer drugs must abide by all applicable laws in their nation. To create new services and products, there are numerous laws and guidelines. When offering insurance services, they must adhere to governmental regulations. They apparently once caused a discrepancy in mental health care, which was quite expensive for the business. According to the US government, the business must also adhere to employment regulations. The business should also make sure that it complies with all state laws.
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