Cancer Treatment Market Report

Market Insights

The cancer treatment market was estimated at US$ 169 billion in 2021 and is expected to grow at a CAGR of 10.04% during 2022-2028 to reach US$ 240 billion in 2028.

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The cancer treatment market is very competitive, with a number of large companies. In terms of market share, the market is currently dominated by a few significant competitors. The cancer therapy market is dominated by Amgen Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc, Novartis AG, and Johnson & Johnson. Strategic collaborations and increased investment in oncology research by significant firms aid in securing their position and presence globally. For example:

• In September 2021, Intas Pharmaceuticals will launch Oral Azacitidine for Acute Myeloid Leukemia under the brand name Azadine-O in India. It is approved for use in adult patients on maintenance therapy for acute myeloid leukaemia.
• In February 2021, Biocon Biologics Ltd. and the Clinton Health Access Initiative (CHAI) signed a contract as part of the Cancer Access Partnership to enhance access to potentially life-saving cancer biosimilars in over 30 African and Asian nations (CAP). The agreement is a critical step in providing cutting-edge cancer treatments to patients in need and ensuring equitable access to high-quality biosimilars in low- and middle-income countries (LMICs). Through this collaboration, the company will make Trastuzumab and Pegfilgrastim available throughout Africa and Asia.
• In June 2020, Pfizer's NYVEPRIA, a biosimilar to Amgen's NEULASTA, was authorised.
• Gilead Sciences, Inc. received expedited approval for Trodelvy (sacituzumab govitecan-hziy) in April 2020 from the US Food and Drug Administration.
• GlaxoSmithKline PLC purchased TESARO Inc., an oncology-focused biopharmaceutical business, in January 2019, expanding GSK's pipeline and commercial competence in oncology.

Key Players

The following are the major players in the cancer treatment market:

• F. Hoffmann-La Roche AG
• Bristol-Myers Squibb Company AbbVie, Inc.
• Johnson & Johnson
• Celgene Corporation
• AstellasPharma, Inc.
• Pfizer, Inc.
• Novartis AG
• Merck KGaA
• Eli Lilly and Company

Market Dynamics

Factors driving market growth include increased patient assistance programmes (PAPs), increased government initiatives for cancer awareness, rising cancer prevalence globally, and strong R&D investments from key companies, as well as rising demand for personalised treatment.

According to the Globocan 2020 information sheet, an estimate of 19,292,789 new cancer cases were diagnosed globally, with almost 9,958,133 cancer-related deaths. Furthermore, according to the International Agency for Research on Cancer (IARC), the global cancer burden is anticipated to rise to 27.5 million new cancer cases and 16.3 million deaths by 2040.

The rising frequency of cancer cases is predicted to increase the demand for sophisticated cancer medicines for better patient treatment. As a result of the foregoing, the market is expected to grow exponentially.

The development of biosimilars, as well as the approval and use of targeted treatments with fewer side effects than standard chemotherapy medications, are expected to limit market growth. The market is being driven by the ageing population, increased cancer incidence, and extensive use of chemotherapy in low- and middle-income countries. The global COVID-19 epidemic has had a profound impact on cancer therapy. According to the American Society of Clinical Oncology, there was a significant decline in visits, cancer testing, operations, and therapy throughout the epidemic.

Furthermore, the overall number of hospital outpatient evaluation and management (E&M) visits (74%), new patient E&M visits (70%), and current patient E&M visits (60%) decreased significantly. However, in the majority of regions, the general condition of affairs began to normalise during the second quarter of 2021.

The growing geriatric population and rising cancer prevalence are two major factors driving market growth. According to Globocan, there will be 28.4 million new cases of cancer during the next twenty years, a 47% increase from 2020. Furthermore, older people are more prone to cancer; the average lifespan in developing countries now exceeds 80 years.

Numerous research studies on the use of NSAIDs (nonsteroidal anti-inflammatory medications) in the treatment of cancer have been published. For example, a February 2021 research study titled "Non-Steroidal Anti-Inflammatory Drugs in Colorectal Cancer Chemoprevention" stated that there is growing evidence from epidemiologic, preclinical, and clinical studies that non-steroidal anti-inflammatory drugs (NSAIDs) have a positive impact on colorectal cancer chemoprevention.

They reduce the risk of colorectal polyps primarily by decreasing cyclooxygenase-2. According to a research study published in November 2021 titled "Nonsteroidal Anti-Inflammatory Drugs Reduce Second Cancer Risk in Patients with Breast Cancer: A Nationwide Study," using COX-2 along with non-COX-2 medications during the follow-up could reduce the risk of second cancer, as could taking more than one NSAID.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market:

Targeted therapy is a fast expanding field of cancer research, with researchers investigating numerous new targets. Human epidermal growth factor receptor 2 protein (HER-2) is expressed at high quantities on the surface of some cancer cells, for example. Several targeted medicines are available for HER-2 overexpression, including trastuzumab (Herceptin), which is licenced to treat certain breast and stomach cancers.

Trodelvy (sacituzumab govitecan-hziy) was approved by the US Food and Drug Administration in April 2020 for the treatment of adult patients with triple-negative breast cancer. Trodelvy is a drug combination of a Trop-2-directed antibody and a topoisomerase inhibitor that targets the Trop-2 receptor, which aids cancer growth, division, and dissemination.

Furthermore, the US FDA approved Tabrecta (capmatinib) in May 2020 for the treatment of adult patients with non-small cell lung cancer (NSCLC), making it the first FDA-approved targeted medication for NSCLC with particular mutations. As a result of growing product approvals and increased research activity related to targeted therapeutics for cancer, the studied segment is predicted to grow throughout the forecast period.

Segment Analysis

On the basis of therapy, the market has been segmented into chemotherapy, targeted therapy, immunotherapy, hormonal therapy, and others. Targeted therapy is a type of cancer treatment in which medications function by targeting certain genes or proteins found in cancer cells. Targeted therapy for cancer include hormone therapies, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, signal transduction inhibitors, and many others.

According to a research article published in the JCO Global Oncology 2020, nearly 88% of cancer care centres faced challenges in providing standard cancer care during the COVID-19 era for a variety of reasons, including precautionary measures, a lack of personal protective equipment, and a staff shortage. Furthermore, this effect was particularly pronounced in low-income countries. As a result, COVID-19 is projected to reduce the number of cancer therapies available to cancer patients.

Based on application, the cancer treatment market has been divided into breast cancer, lung cancer, colorectal cancer, prostate cancer, liver cancer, stomach cancer, and others.

On the basis of end user, the market is segmented into hospitals, specialty clinics, cancer and radiation therapy centers, and others.

The cancer treatment market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com