Cancer Drugs MarketSize and Trends

The global cancer drugs market was valued at US$ 143.9 Bn in 2022 and is forecast to reach a value of US$ 257.8 Bn by 2030 at a CAGR of 7.60% between 2023 and 2030. The global cancer drugs market is experiencing strong growth due to the increasing burden of cancer and increasing demand for safe & effective cancer drugs across the globe. Moreover, increasing number of cancer treatment centres and growing geriatric population across the globe is expected to boost the market growth. However, factors such as adverse effects associated with the use of cancer drugs and high cost of cancer drugs are expected to hamper the market growth.

Figure 1. Global Cancer Drugs Market Share (%), by Region, 2023

Global Cancer Drugs Market Segmentation:

The global cancer drugs market report is segmented into Drug Class Type, Indication, and Region.

Based on Drug Class Type, the market is segmented into Chemotherapy, Targeted Therapy, Immunotherapy (Biologic Therapy), and Hormonal Therapy. Of which, Chemotherapy Segment is expected to dominate the cancer drugs market over the forecast period and this is attributed to the increasing demand for chemotherapy drugs worldwide.

Targeted Therapy Segment is also expected to witness significant growth in the near future and this is owing to the increasing demand for targeted therapy drugs worldwide.

Based on Indication, the market is segmented into Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, and Other Cancers. Out of which, Lung Cancer Segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of lung cancer across the globe.

Breast Cancer Segment is also expected to witness significant growth in the near future and this is owing to increasing prevalence of breast cancer across the globe.

Figure 2. Global Cancer Drugs Market Share (%), by Drug Class Type, 2023