The global oncology market size accounted for USD 225.04 billion in 2024 and is expected to exceed around USD 674.38 billion by 2034, growing at a CAGR of 11.6% from 2024 to 2034.
The oncology market refers to the pharmaceutical industry’s focus on the development, production, and sale of drugs used to treat many types of cancers. Oncology is the study of cancer. Oncology is a branch of science that deals with tumors and cancers. The oncology includes surgical oncology, radiation oncology, and medical oncology. The benefits of oncology include complete palliative care in patients with advanced cancer, excellent care before and after the treatment, and the availability of advanced treatment options and new drugs to improve outcomes. The higher number of research and development activities to develop cancer therapeutics, early screening of cancer, the increase in the prevalence of cancer, and the rising senior population drive the oncology market.
However, the risk factors challenging growth in the market include the risk of failure, regulatory hurdles, and the high cost of treatment, which can hamper the growth of the market. The government supports enhancing healthcare facilities, the introduction of new therapies and drugs for cancer, technological advancement, reducing costs, and increasing investment in research and development for cancer therapeutics, which will help the growth of the oncology market.
Published by Laxmi Narayan
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| Stats ID: | 7726 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
| Stats ID: | 7726 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
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