The Latest Global Oncology Industry Statistics Explained
By 2027, the global oncology/cancer drugs market size is expected to reach $196.4 billion.
Based on current trends and projections, the global oncology/cancer drugs market is anticipated to experience significant growth by the year 2027, with an estimated size of $196.4 billion. This statistic reflects an increasing demand for oncology treatments worldwide, driven by factors such as a rising prevalence of cancer cases, advancements in medical technology and research, and a growing elderly population. The projected market size underscores the continued importance of cancer drugs in healthcare, highlighting the need for innovation, development, and accessibility of effective treatments to address the ongoing global cancer burden.
The global oncology market size was valued at USD 136.8 billion in 2020.
The statistic that the global oncology market size was valued at USD 136.8 billion in 2020 represents the total value of sales generated from pharmaceutical products, medical devices, and services related to cancer treatment on a global scale during that year. This figure reflects the significant economic impact of oncology, a branch of medicine focused on the diagnosis and treatment of cancer, as it highlights the substantial investment made by individuals, healthcare providers, and organizations to combat and manage various types of cancer. The size of the oncology market serves as a key indicator of the demand for cancer-related products and services, as well as the ongoing efforts to advance research and development in the field of oncology.
The sector is expected to register a compound annual growth rate (CAGR) of 10.3% from 2021 to 2028.
The statistic indicates that the sector in question is projected to experience a consistent growth rate of 10.3% on an annual basis from the year 2021 to 2028. This compound annual growth rate (CAGR) provides a measure of the annual growth over a specified period, taking into account the compounding effect of growth over time. In this case, the forecasted CAGR of 10.3% suggests that the sector is expected to expand steadily and significantly over the 7-year period, reflecting a positive outlook for its development and performance in the upcoming years.
North America dominated the oncology market with over 35% revenue share in 2020.
This statistic indicates that North America was the leading region in terms of revenue generated in the oncology market in 2020, accounting for over 35% of the total revenue. This domination suggests that North America had a significant impact on the global oncology market, with a strong presence and high demand for oncology products and services. Factors contributing to this dominance could include advanced healthcare infrastructure, high levels of healthcare spending, a large patient population with various types of cancers, and strong research and development in the field of oncology. Overall, this statistic highlights North America as a key player in the oncology market, influencing trends and advancements in cancer treatment and care.
In 2019, it was estimated that there were 353,000 cancer-related deaths in Europe.
The statistic indicates that in 2019, around 353,000 individuals in Europe died as a result of cancer-related causes. This figure highlights the significant impact of cancer on public health in the region and underscores the urgency of addressing cancer prevention, early detection, diagnosis, and treatment. The high number of cancer-related deaths suggests a need for comprehensive and effective strategies to combat this disease, including promoting healthy lifestyles, implementing vaccination programs against cancer-causing pathogens, and ensuring access to quality healthcare services for cancer patients. Ultimately, such statistics serve as a call to action for policymakers, healthcare providers, and the public to work collaboratively towards reducing the burden of cancer and improving outcomes for individuals affected by this devastating disease.
The global oncology drugs market is primarily driven by a high prevalence of different types of cancers such as lung cancer, breast cancer, colorectal cancer, prostate cancer, and stomach cancer.
The statistic regarding the global oncology drugs market being primarily driven by the high prevalence of various types of cancers such as lung cancer, breast cancer, colorectal cancer, prostate cancer, and stomach cancer highlights the significant impact of these conditions on healthcare and pharmaceutical industries worldwide. The increasing incidence and prevalence of these types of cancers have created a growing demand for oncology drugs to treat and manage these diseases, leading to a surge in research, development, and commercialization of new therapeutic options. This trend underscores the urgent need for innovative treatment strategies and products to address the complex nature of cancer and improve patient outcomes, driving the continuous growth and evolution of the oncology drugs market.
Lung, breast, colorectal, and stomach cancer collectively accounted for nearly 44% of all cancers diagnosed worldwide in 2018.
The statistic indicates that combined, lung, breast, colorectal, and stomach cancers were the most commonly diagnosed cancer types globally in 2018, making up almost 44% of all cancer cases reported. This suggests that these four types of cancer are predominant and pose a significant burden on global healthcare systems. Lung cancer is often associated with smoking and environmental factors, while breast cancer primarily affects women. Colorectal and stomach cancers can be influenced by various factors including diet, genetics, and lifestyle choices. Understanding the prevalence of these specific cancer types can help guide research efforts, public health interventions, and resource allocation to effectively tackle the burden of cancer on a global scale.
The Asia Pacific region is anticipated to witness the fastest growth in the oncology market over the forecast period 2021-2028.
This statistic indicates that the Asia Pacific region is projected to experience the highest rate of growth in the oncology market between the years 2021 and 2028. This growth is expected to outpace that of other regions around the world during this forecast period. Factors contributing to this anticipated growth may include increasing cancer incidence rates, improving healthcare infrastructure and access to oncology treatments in the region, as well as advancements in medical technology. This trend suggests a growing demand for oncology products and services in the Asia Pacific region, signaling potential opportunities for pharmaceutical companies, healthcare providers, and other stakeholders in the oncology market to expand their presence and investment in this region.
The top 20 oncology drug brands generated $92.6 billion in 2020.
The statistic “The top 20 oncology drug brands generated $92.6 billion in 2020” indicates the total revenue generated by the leading 20 pharmaceutical brands focused on oncology medications in the year 2020. This figure represents the significant financial impact of oncology drugs in the pharmaceutical market, highlighting the high demand for these products in the treatment of cancer. The substantial revenue generated underscores the importance of oncology drugs in both the healthcare industry and the global economy, reflecting the ongoing efforts to develop lifesaving treatments for cancer patients.
The oncology biologics market hit $45 billion in sales in 2018.
The statistic “The oncology biologics market hit $45 billion in sales in 2018” indicates that the total revenue generated by the sale of biologic drugs for the treatment of cancer reached $45 billion in the year 2018. This statistic highlights the substantial market value of oncology biologics, underscoring the significant demand for these specialized therapeutic products in the medical industry. The high sales volume reflects the growing prevalence of cancer and the increasing reliance on biologic drugs as an effective treatment option for patients. This statistic provides valuable insights into the economic impact and commercial success of oncology biologics within the healthcare sector.
In 2020, global cancer drug spending was $157 billion.
The statistic ‘In 2020, global cancer drug spending was $157 billion’ represents the total amount of money spent worldwide on medications used for treating cancer during the year 2020. This figure illustrates the substantial financial investment made in addressing cancer diagnoses and the ongoing efforts to develop and provide effective treatments for cancer patients. The significant expenditure in cancer drug spending underlines the prioritization of cancer care and research on a global scale, highlighting the importance placed on combatting and managing this prevalent disease.
It is projected that by 2024 cancer therapeutic spending will exceed $220 billion globally.
The statistic indicates that the total expenditure on cancer therapeutics worldwide is estimated to surpass $220 billion by the year 2024. This signifies a substantial financial commitment towards the research, development, and administration of treatments aimed at combating cancer. The projected increase in spending underscores the growing concern and effort to address the impact of cancer globally. It suggests a recognition of the significant burden that cancer poses on healthcare systems and the importance of investing in innovative therapies to improve patient outcomes. This statistic highlights the ongoing emphasis on advancing cancer treatment options and patient care on a global scale.
In 2020, Roche’s cancer care portfolio led in oncology sales globally, producing over $30 billion.
The statistic indicates that in the year 2020, Roche, a leading pharmaceutical company, generated over $30 billion in sales from its cancer care portfolio, making it the top-selling oncology product globally. This signifies that Roche’s products within the field of cancer care were in high demand and accounted for a significant portion of the market share in oncology treatments. The substantial revenue generated reflects not only the effectiveness and acceptance of Roche’s cancer care offerings but also the company’s strong position and impact in the competitive oncology market.
In 2020, the most sold oncology drug was Merck’s immune-oncology drug, Keytruda—delivering $14.4 billion in sales.
In 2020, Keytruda, which is an immune-oncology drug developed by Merck, emerged as the top-selling oncology drug with sales reaching an impressive $14.4 billion. This statistic reflects the significant impact and success of Keytruda in the field of oncology, as it became the most sought-after drug in the market for treating cancer. The high sales revenue generated by Keytruda indicates not only its effectiveness in treating various types of cancer but also the strong demand for innovative treatments in oncology. This statistic underscores the growing importance of immune-oncology therapies and the increasing focus on personalized and targeted approaches in cancer treatment.
As of 2021, nearly 700 new molecule entities are in late-stage development (phase II or III) for oncology.
The statistic “As of 2021, nearly 700 new molecule entities are in late-stage development (phase II or III) for oncology” indicates a robust pipeline of potential new treatments for cancer that are undergoing advanced clinical testing. Late-stage development phases (phase II and III) are crucial stages in drug development where the safety and efficacy of the potential therapies are rigorously evaluated in large patient populations. The fact that almost 700 new molecule entities are in these late stages of clinical trials specifically for oncology highlights the significant investment, innovation, and research efforts being dedicated to addressing the challenges of cancer treatment. This statistic suggests a hopeful outlook for the future of cancer care, with the potential for an expanding array of treatment options to improve outcomes for patients battling this complex disease.
The global oral oncology drugs market size was valued at USD 25 billion in 2020.
The statistic indicates that the global market for oral oncology drugs achieved a market value of USD 25 billion in the year 2020. This means that the total revenue generated by the sales of oral oncology drugs worldwide amounted to this figure. The market size reflects the significant demand for oral oncology drugs used in the treatment of various forms of cancer administered orally, as opposed to intravenous or other forms of delivery. This data point suggests a substantial market opportunity and highlights the importance of oral oncology medications in the healthcare industry, underscoring the ongoing need for effective cancer treatments on a global scale.
Oncology therapeutic medicines form the largest share of the pharmaceutical industry, accounting for approximately 30% of clinical trials worldwide.
The statistic suggests that oncology therapeutic medicines occupy a prominent position within the pharmaceutical industry, with approximately 30% of global clinical trials focused on this area. This finding underscores the significant attention and resources being dedicated to the development and testing of new cancer treatments. Given the complex and evolving nature of cancer, the high proportion of clinical trials in oncology reflects the industry’s commitment to addressing this pressing healthcare challenge. The statistic also highlights the competitive landscape within the pharmaceutical sector, as companies strive to advance innovative oncology therapies that can provide substantial benefits to patients and potentially drive substantial revenue within the industry.
In 2018, the drug development process cost approximately $2.6 billion for each approved oncology drug.
The statistic “In 2018, the drug development process cost approximately $2.6 billion for each approved oncology drug” represents the average cost incurred by pharmaceutical companies to bring a new oncology drug to market. This figure includes expenses related to research and development, clinical trials, regulatory approvals, and marketing. The high cost signifies the extensive resources and time required to discover, test and bring to market a new drug, particularly in the field of oncology where the stakes are high and the scrutiny on safety and efficacy is stringent. The substantial investment reflects the complex nature of drug development, the need for cutting-edge technologies, and the financial risks associated with innovation in the pharmaceutical industry.
The global cancer immunotherapy market is predicted to reach $126.9 billion by 2026.
The statistic indicates a forecasted growth in the global cancer immunotherapy market, with an expected value of $126.9 billion by the year 2026. This prediction suggests a significant increase in demand and investment in immunotherapy treatments for cancer, which utilize the body’s immune system to target and combat cancer cells. The projected market size reflects the growing acceptance and adoption of immunotherapy as an effective approach to cancer treatment, potentially offering improved outcomes and reduced side effects compared to traditional therapies. Factors driving this growth may include advancements in research and development, increased understanding of the immune mechanisms underlying cancer, and a shift towards personalized medicine in oncology.
The global precision oncology market will reach $75.8 billion by 2026.
The statistic indicates that the precision oncology market, which involves the customization of medical treatment based on individual patient characteristics, particularly in cancer care, is projected to grow significantly over the next few years. By 2026, it is expected to reach a market value of $75.8 billion worldwide. This growth can be attributed to advancements in technology, increasing prevalence of cancer, and the growing adoption of personalized medicine approaches in healthcare. The expanding market underscores the importance of precision oncology in improving cancer treatment outcomes and underscores the increasing investment and focus on personalized approaches to healthcare.
Conclusion
Based on the global oncology industry statistics discussed in this blog post, it is evident that the field of oncology is rapidly evolving with advancements in research, diagnosis, and treatment options. The increasing prevalence of cancer worldwide underscores the critical importance of ongoing efforts to improve outcomes for patients and reduce the burden of this disease on individuals and health systems. Moving forward, collaboration between researchers, healthcare providers, policymakers, and industry stakeholders will be essential to drive progress and innovation in the fight against cancer.
References
0. – https://www.www.cancerresearchuk.org
1. – https://www.www.prnewswire.com
2. – https://www.www.alliedmarketresearch.com
3. – https://www.www.statista.com
4. – https://www.www.pharmaceutical-technology.com
5. – https://www.www.imshealth.com
6. – https://www.www.datamintelligence.com
7. – https://www.www.grandviewresearch.com
8. – https://www.www.researchandmarkets.com
9. – https://www.www.ncbi.nlm.nih.gov
10. – https://www.www.genengnews.com
11. – https://www.www.wcrf.org
