Generic Oncology Drugs Global Market Report 2024

The generic oncology drugs market size has grown strongly in recent years. It will grow from $25.64 billion in 2023 to $27.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historical period can be ascribed to factors such as patent expirations, initiatives for healthcare cost containment, rising cancer prevalence, expanded health insurance coverage, and the prescribing practices of physicians.

The generic oncology drugs market size is expected to see strong growth in the next few years. It will grow to $35.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be associated with factors such as biosimilar approvals, heightened competition, the integration of telemedicine and remote care, a personalized treatment paradigm, and pricing pressures. Notable trends expected in the forecast period encompass heightened focus on pharmacovigilance, streamlined regulatory processes, an emphasis on combination therapies, the development of precision generic oncology medications, and broader market access.

The anticipated growth in the generic oncology drugs market is expected to be propelled by a significant increase in cancer patients. Cancer, characterized by uncontrolled cell growth impacting various organs, poses a considerable global health challenge with significant morbidity and mortality. The availability of cost-effective generic oncology drugs is crucial for cancer treatment, enhancing access to essential therapies, fostering market competition, and reducing healthcare costs. According to the National Cancer Institute (NCI) in January 2022, approximately 5.4% of the US population, equivalent to 18.1 million individuals, were cancer survivors. Moreover, 623,405 people were living with metastatic cancer types, projected to increase to 693,452 by 2025, emphasizing the growing impact of cancer. Consequently, the significant rise in cancer patients is a driving force behind the growth of the generic oncology drugs market.

The increasing demand for personalized medicine is also poised to drive the growth of the generic oncology drugs market. Personalized medicine, an evolving medical approach, tailors treatments to individual patients based on their unique genetic, environmental, and lifestyle factors. Generic oncology drugs play a vital role in personalized medicine, offering cost-effective alternatives that cater to individual patient needs and contribute to broader accessibility to targeted and specialized cancer treatments. For example, in September 2021, the Swedish Government allocated SEK 220 million ($1.87 million) to enhance the national infrastructure of Genomic Medicine Sweden (GMS). This investment aims to seamlessly integrate precision medicine into the Swedish healthcare system, ensuring widespread access to precise tests and individualized care, aligning with the increasing demand for personalized medicines. Hence, the rising demand for personalized medicine is a key driver of the generic oncology drugs market's growth.


A notable trend is the emergence of novel formulations, which major companies are actively pursuing in the generic oncology drugs market. These companies are concentrating on the development of innovative drug delivery systems, modified-release formulations, and alternative dosage forms to enhance patient compliance and maintain their market standing. For example, in January 2023, MSN Laboratories Private Limited, an India-based pharmaceutical company specializing in generic drugs, introduced Palborest, the world's first generic Palbociclib tablets for advanced breast cancer treatment. This generic breast cancer drug provides a cost-effective alternative to the innovator tablet while ensuring bioequivalence. Its tablet form offers advantages over capsules, allowing administration with or without food and co-administration with proton pump inhibitors or antacids. Moreover, the tablet formulation is lactose- and gelatin-free, contributing to the drug's efficacy.

Major players in the generic oncology drugs market are intensifying efforts to introduce high-quality treatment options such as Bortezomib to enhance their competitive position. Bortezomib, a proteasome inhibitor used for multiple myelomas and certain lymphomas, inhibits cancer cell growth, thereby improving therapeutic outcomes. For instance, in May 2022, Gland Pharma, an India-based company, launched the generic cancer treatment drug Bortezomib in the US market. This drug, therapeutically equivalent to Takeda Pharmaceuticals' product, aims to offer an affordable and high-quality treatment alternative for US patients.

In March 2023, Pfizer Inc., a US-based pharmaceutical and biotechnology company, completed the acquisition of Seagen Inc. for $43 billion. This strategic move aligns with Pfizer's goal to reinforce its market presence as a prominent player in the oncology sector. By incorporating Seagen's diverse range of medicines, Pfizer significantly strengthens and complements its existing oncology portfolio. Seagen Inc. is a US-based manufacturer of brentuximab vedotin (ADCETRIS), a cancer drug.

Major companies operating in the generic oncology drugs market report are Pfizer Inc., AbbVie, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories, Fresenius Kabi AG, GlaxoSmithKline PLC, Eli Lilly and Company, Merck & Co. Inc., Becton Dickinson and Company, Baxter International Inc., Mylan N.V., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Hikma Pharmaceuticals, Endo Pharmaceuticals Inc., Aspen Pharmacare Holdings Limited, Lupin Limited, Towa Pharmaceutical Co Ltd., Torrent Pharmaceuticals Ltd., Cadila Healthcare Ltd., Accord Healthcare.

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

Generic oncology drugs encompass two main types of molecules large molecules and small molecules. Large molecules, also known as biologics, are intricate molecules derived from living organisms, such as proteins, antibodies, or nucleic acids. Trastuzumab (Herceptin), an example of a large molecule-based generic oncology drug, is utilized in cancer treatment by targeting specific proteins or receptors on cancer cells. These drugs can be administered through oral and parenteral routes and are distributed through various channels, including hospital pharmacies, retail pharmacies, online pharmacies, and managed care institutions.

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

The generic oncology drugs market consists of sales of paclitaxel, cyclophosphamide, gemcitabine, and fluorouracil. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.