Cancer Therapy Market, By Therapy Type (Chemotherapy, Target Therapy, Immunotherapy, Radiotherapy, and Others), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Blood Cancer, Liver Cancer, Thyroid Cancer, Head and Neck Cancer, Skin Cancer, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2025

Code : CMI5335

Pages :174

Formats :

Excel and PDF

Industry : Pharmaceutical

Cancer Therapy Market Size and Trends

The cancer therapy market is estimated to be valued at USD 230.96 Bn in 2025 and is expected to reach USD 530.37 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 12.6% from 2025 to 2032.

Cancer Therapy Market Key Factors

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The cancer therapy market is expected to witness high growth during the forecast period. Increasing product launches/approvals and investments and funding for cancer research are major drivers. Additionally, the increasing prevalence of cancer worldwide is expected to propel the demand for novel targeted drugs for cancer treatment. Further advancement in cancer diagnostic techniques resulting in early detection will also positively impact the market growth. High cost of treatment for various cancers still remains a restraint especially in developing nations. The market also faces challenges due to stringent regulatory approvals for new therapies. Among all regions, Asia Pacific is likely to witness the fastest growth rate owing to a rise in healthcare expenditure and improving access to modern therapies in emerging economies like China and India. North America will continue to dominate the market supported by well-established healthcare infrastructure and increasing spending on specialty clinics.

Increasing product launch/approval

The increasing number of product approvals and launches for cancer treatment over the past couple of years has provided a significant boost to the cancer therapy market. For instance, in January 2023, the European Union (EU) approved Enhertu (trastuzumab deruxtecan) as monotherapy for the treatment of adult patients with unresectable or metastatic HER2-low (IHC 1+ or IHC 2+/ISH-) breast cancer. Enhertu (trastuzumab deruxtecan) is being jointly developed and commercialized by AstraZeneca, a pharmaceutical company, and Daiichi Sankyo, Limited, a global biopharmaceutical company. Enhertu is a specifically engineered HER2-directed antibody drug conjugate (ADC). Moreover, in December, 2022, Mirati Therapeutics, Inc., a biotechnology company, announced that it had received accelerated approval from the U.S. Food and Drug Administration for adagrasib, a RAS GTPase family inhibitor, for adult patients with KRAS G12C mutated locally advanced or metastatic non-small cell lung cancer (NSCLC).