Oncologists Global Market Report 2024

The oncologists market size has grown steadily in recent years. It will grow from $19.35 billion in 2023 to $19.19 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth observed in the historical period can be attributed to factors such as the increasing incidence of cancer, advancements in therapeutic approaches, a growing aging population, development of healthcare infrastructure, and the implementation of awareness and early detection programs.

The oncologists market size is expected to see steady growth in the next few years. It will grow to $22.72 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be attributed to factors such as the emergence of precision medicine and personalized therapies, advancements in therapeutic modalities, global collaboration in oncology, shifts in epidemiology and new challenges, as well as influences from healthcare policy and economic factors. Major trends in this period include advancements in immunotherapy, the integration of precision medicine, expansion of telemedicine, a shift towards data-driven decision-making, the adoption of collaborative care models, and an increased focus on patient-centric care.

The oncologists' market is anticipated to experience growth due to the increasing prevalence of cancer. Cancer is characterized by the uncontrolled growth and spread of a few body cells, and its prevalence is determined by the number of new cases within a specific population during a given period. Oncologists, specialized healthcare practitioners focusing on cancer diagnosis and treatment, play a crucial role in examining patients, diagnosing cancer, and identifying suitable treatment options. According to the 2021 American Cancer Society report, there were 1.8 million new cancer cases diagnosed in 2020, reflecting a significant increase from previous years. The National Cancer Institute reported a 43% rise in new cancer cases to 1,806,590 in September 2020. Hence, the growing prevalence of cancer is a driving force behind the oncologists' market.

The growth of the aging population is expected to be a significant factor supporting the expansion of the oncologists' market. An aging population, comprising individuals aged 60 and above, is more susceptible to cancer as the risk of cancer increases with age. The demand for oncologists rises with the growing prevalence of cancer in the elderly population. According to the World Health Organization, by 2030, 1 in 6 people globally will be aged 60 or above. The number of elderly individuals reached 1.4 billion in 2020, and by 2050, it is projected to more than double, reaching 2.1 billion. Therefore, the increasing size of the aging population is expected to have a positive impact on the oncologists' market in the forecast period.

A key trend in the oncologists' market is the focus on new innovations, with major companies developing digital solutions to enhance their positions. For instance, in December 2021, The Roche Group introduced its latest digital solution, the 'Navify Oncology Hub,' designed to simplify clinical workflows and improve decision support for oncology care teams and oncologists. This solution aids in aggregating and organizing patient data across various IT systems within an institution.

Major companies in the oncologists' market are also establishing new collaborative networks to advance research and development efforts. In September 2023, Amgen launched the 'Amgen Partners of Choice' network, bringing together its oncology research and development experts with clinical leaders at eight global research centers. The network, part of Amgen's mission to enhance care through partnerships, fosters academic collaboration to advance innovative treatment options for patients with significant unmet needs.

In April 2021, Siemens Healthineers AG acquired Varian Medical Systems, Inc. for an undisclosed amount, enhancing resources to support cancer patients across major clinical pathways. The acquisition aims to address the rising rates of cancer by providing personalized, data-driven diagnosis and cancer care. Varian Medical Systems, Inc., a US-based company, is a provider of radiation oncology software and treatments.

Major companies operating in the oncologists market report are Abramson Cancer Center, MD Anderson Cancer Center of the University of Texas, Lilavati Hospital & Research Centre, Mount Elizabeth Hospital, Mount Miriam Cancer Hospital, Charité - Universitätsmedizin Berlin, General Electric Healthcare, F. Hoffmann-La Roche AG, Pfizer Inc., Bayer AG, Merck & Co. Inc., Aegerion Pharmaceuticals Inc., AbbVie Inc., Amgen Inc., Takeda Pharmaceuticals USA Inc., Becton Dickinson and Company, Cook Medical LLC, Terumo Corporation, AngioDynamics Inc., Thermo Fisher Scientific Inc., Illumina Inc., Bristol-Myers Squibb Company, AstraZeneca plc, Novartis AG, Eli Lilly and Company, Celgene Corporation, Gilead Sciences Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals Inc., Alexion Pharmaceuticals Inc., Incyte Corporation, Seattle Genetics Inc.

North America was the largest region in the oncologists market in 2023. The regions covered in the oncologists market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the oncologists market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary areas of focus for oncologists are cancer diagnostics and cancer treatment. Cancer diagnostics involve testing procedures designed to confirm the presence of cancer and identify the specific tumor type. Common cancer types include lung cancer, colorectal cancer, breast cancer, liver cancer, bladder cancer, head and neck cancer, and prostate cancer. Oncologists work in various healthcare settings, including hospitals, diagnostic laboratories, diagnostic imaging centers, specialty clinics, academia, and other related institutions.

The oncologists market research report is one of a series of new reports that provides oncologists market statistics, including oncologists industry global market size, regional shares, competitors with an oncologists market share, detailed oncologists market segments, market trends and opportunities, and any further data you may need to thrive in the oncologists industry. This mobile wallet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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