Global Cancer Therapeutics Market Report and Forecast 2023-2031

The global cancer therapeutics market size attained a value of USD 135.8 billion in 2022. The market is anticipated to grow at a CAGR of 10.4% during the forecast period of 2023-2031 to attain a value of USD 330.8 billion by 2031.

Cancer Therapeutics Market: Introduction

Cancer therapeutics refers to a broad range of medical strategies, treatments, and modalities aimed at treating cancer, controlling its spread, and managing associated symptoms. The primary goal is to either eliminate the disease or significantly improve the patient's quality of life. There are several main categories of cancer therapeutics, each with its own specific uses:

• Surgery: This is often the first line of treatment, particularly when the cancer is localized. The aim is to physically remove the tumour and sometimes the surrounding tissue
• Radiation Therapy: This involves using high-energy radiation to kill or shrink cancer cells. It can be used as a standalone treatment or in conjunction with other modalities like surgery or chemotherapy
• Chemotherapy: This refers to the use of drugs to kill or slow the growth of cancer cells. Chemotherapy can be systemic (affecting the whole body) or localized (targeting a specific area)
• Targeted Therapy: These are drugs or other substances that block the growth of cancer by interfering with specific molecules ("molecular targets") that are involved in the growth, progression, and spread of cancer. Targeted therapies can cause less harm to normal cells compared to chemotherapy and radiation therapy
• Immunotherapy: This type of therapy boosts the body's natural defences to fight cancer. It uses substances made by the body or in a lab to improve, target, or restore immune system function
• Hormone Therapy: Some cancers, like breast and prostate cancer, are sensitive to hormones. Hormone therapy involves removing or blocking the action of these hormones, thereby inhibiting cancer growth
• Stem Cell Transplant: This procedure involves replacing unhealthy bone marrow with healthy stem cells that can grow into new marrow. It is usually used in conjunction with high-dose chemotherapy or radiation therapy
• Precision Medicine: Also known as personalized medicine, this approach tailor’s treatment to the genetic changes in a person's cancer cells. This includes treatments like CAR-T cell therapies, which involve modifying a patient's own immune cells to treat their cancer

Each of these categories of cancer therapeutics has its own uses and can be employed alone or in combination, depending on the type and stage of the cancer, as well as the overall health of the patient. The decision to use a certain type of therapy is made based on a detailed evaluation of the patient and the characteristics of the cancer.

Cancer Therapeutics Market Segmentations

The market can be categorised into therapy type, drug class, route of administration, cancer type, distribution channel, and region

Cancer Therapeutics Market Breakup by Therapy type

• Chemotherapy
• Immunotherapy

1. Checkpoint Inhibitors
2. Car-T Cell Therapy
3. Cancer Vaccines
4. Cytokine Therapy

• Targeted Therapy

1. Tyrosine Kinase Inhibitors
2. Monoclonal Antibodies
3. Proteasome Inhibitors

• Hormonal Therapy
• Radiation Therapy
• Stem Cell Transplant
• Gene Therapy
• Other Emerging Therapies

Cancer Therapeutics Market Breakup by Drug class

• Alkylating Agents
• Antimetabolites
• Antitumor Antibiotics
• Topoisomerase Inhibitors
• Mitotic Inhibitors
• Hormone Therapies
• Immune Checkpoint Inhibitors
• Others

Cancer Therapeutics Market Breakup by Route of administration

• Oral
• Intravenous
• Subcutaneous
• Intramuscular
• Topical
• Others

Cancer Therapeutics Market Breakup by Cancer type

• Lung Cancer
• Breast Cancer
• Prostate Cancer
• Colorectal Cancer
• Skin Cancer
• Blood Cancer (Leukemia, Lymphoma, etc.)
• Gastrointestinal Cancer
• Gynecological Cancer
• Others

Cancer Therapeutics Market Breakup by Distribution Channel

• Hospital pharmacies
• Retail pharmacies
• Online pharmacies
• Specialty pharmacies

Cancer Therapeutics Market Breakup by Region

North America

• United States of America
• Canada

Europe

• United Kingdom
• Germany
• France
• Italy
• Others

Asia Pacific

• China
• Japan
• India
• ASEAN
• Australia
• Others

Latin America

• Brazil
• Argentina
• Mexico
• Others

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Cancer Therapeutics Market Scenario

The global cancer therapeutics market continues to show robust growth, driven by increasing incidence of various types of cancer, advancements in cancer research, and escalating investment in drug development. As of 2023, the market has been shaped by a variety of factors, including innovation in drug discovery, precision medicine, and growing awareness about early detection and diagnosis of cancer.

Industry Trends
In terms of regional distribution, North America holds the largest market share in cancer therapeutics due to factors such as advanced healthcare infrastructure, higher prevalence of cancer, increased awareness, and presence of leading pharmaceutical and biotechnology companies. Europe follows closely, driven by similar factors. However, the Asia-Pacific region is anticipated to grow at the fastest rate owing to a large patient population, increasing healthcare expenditure, and improving healthcare infrastructure.

One key trend shaping the market is the growth in personalized medicine and targeted therapies. These treatments, which work by targeting specific genetic or molecular characteristics of cancer cells, often have fewer side effects and can be more effective than traditional chemotherapy. This trend is driving significant investment and research in the sector, leading to the development of innovative therapies.

Immunotherapy is another significant growth area within the cancer therapeutics market. Treatments such as immune checkpoint inhibitors and CAR-T cell therapies have shown remarkable effectiveness against certain types of cancer, leading to high demand and substantial market growth.

Additionally, the rise in collaborative efforts between pharmaceutical companies and academic or research institutes accelerates the speed of clinical trials and drug development, further propelling the market. Numerous promising cancer drugs are currently in various stages of the pipeline, reflecting the active state of innovation in this field.

However, the market also faces challenges. The high cost of cancer drugs and disparities in access to advanced therapies, particularly in low- and middle-income countries, are significant hurdles. Furthermore, the complexity of drug development, including the need for rigorous clinical trials and the high rate of attrition for potential new drugs, poses ongoing challenges.

Overall, the global cancer therapeutics market is expected to continue its growth trajectory in the coming years, buoyed by advancements in science, technology, and a better understanding of the molecular mechanisms of cancer. Despite the challenges, the market is poised for significant transformation, offering hope for better cancer treatments and outcomes.

Key Players in the Global Cancer Therapeutics Market

The report gives an in-depth analysis of the key players involved in the cancer therapeutics market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:

• AstraZeneca
• Bristol-Myers Squibb
• Eli Lilly and Company
• F. Hoffmann-La Roche AG
• GlaxoSmithKline
• Johnson & Johnson
• Merck & Co., Inc
• Novartis International AG
• Pfizer Inc
• Sanofi
• Takeda Pharmaceutical Company Limited
• Celgene Corporation
• Amgen Inc
• Gilead Sciences, Inc
• Bayer AG
• AbbVie Inc
• Regeneron Pharmaceuticals, Inc
• Genentech
• Seattle Genetics, Inc
• Aimmune Therapeutics