Anti-cancer Drugs Market

Anti-cancer Drugs Market Outlook (2024 to 2034)

The global anti-cancer drugs market size is on track to reach US$ 198,957.9 million in 2024. The market is poised for consistent growth, with a promising compound annual growth rate (CAGR) of 7.5% projected through 2034. This expansion is expected to elevate the market to a substantial valuation of US$ 411,789.3 million by 2034.

The World Health Organization (WHO) projects that the number of fresh cases of cancer is estimated to go up from 18.1 million in 2018 to 29.4 million by 2040, representing an increasing burden of cancer. Hence, this rising prevalence of cancer cases worldwide is significantly contributing to this growth and creating a pressing demand for effective therapeutic solutions.

Both patients and healthcare professionals are looking for treatments that can also precisely minimize side effects apart from targeting cancer cells. This demand has spurred efforts in research and development, resulting in the introduction of new medications and treatments with improved tolerance and efficacy.

The predicted CAGR mirrors a long-term surge in market dynamics, boosted by the propulsion of technology, notably in genomics and personalized medicine. The landscape is further irradiated by intensified research and development initiatives, collectively shaping an optimistic prospect for the anti-cancer drugs market's future.

Key Market Growth Factors

• Cancer stands as one of the leading contributors to global mortality, with its prevalence escalating at a concerning pace. A significant portion of the global expenditure on cancer treatment is allocated to anti-cancer drugs, surpassing the halfway mark.
• As the focus on pharmaceutical interventions intensifies, the proportion of spending dedicated to anti-cancer drug treatments is poised to develop within the overall investment in addressing the intricacies of cancer care.
• The rate at which cancer therapy is evolving is intensifying. Numerous cutting-edge therapies are coming out of the research and development pipeline. Several pharmaceutical corporations are funding the development of these innovative cancer therapy medications.
• Growing emphasis on enhancing the state of healthcare facilities and the infrastructure as a whole is supporting the market growth. Fruitful market prospects are also anticipated as a result of the growing number of strategic alliances and partnerships between public and private entities regarding the financing and use of new technologies.
• The media is also crucial in raising awareness of the illness and medications linked to it. The global anti-cancer drugs market is anticipated to grow as a result of consumers being more aware of new medication availability through media.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 198,957.9 million
Forecasted Market Value (2034F)	US$ 411,789.3 million
Global Market Growth Rate (2024 to 2034)	7.5% CAGR
Cytotoxics Segment Growth Rate (2024 to 2034)	7.8%
Breast Cancer Segment Growth Rate (2024 to 2034)	7.9%
North America Market Share (2024)	41.5%
East Asia Market Share (2024)	20.5%
Key Companies Profiled	Hoffmann-La Roche Ltd Eli Lilly and Company Novartis AG Pfizer Inc. Bayer AG AstraZeneca Takeda Pharmaceutical Company Limited Merck & Co., Inc. CELGENE CORPORATION Amgen Inc.

What are the Key Factors Fueling the Global Anti-cancer Drugs Market Expansion?

“Aging Demographic Amplifies Cancer Threat and Necessitates Advanced Anti-cancer Medications”

Studies indicate that individuals aged 65 and above, the rapidly developing segment of the population, face an 11-fold higher risk of developing cancer compared to their younger counterparts. The anticipation of 16.3 million cancer-related deaths and 27.5 million new cases globally by 2040 is primarily attributed to the aging demographic. The aging process is associated with the gradual decline of immune functions, termed immunosenescence, potentially leading to an inadequate immune response against developing tumors. Particularly, cancer ranks as a key cause of mortality, following cardiovascular diseases, with an estimated 1 in 6 deaths attributed to cancer. Consequently, there is a greater requirement for anti-cancer medications that are successful in addressing the particular problems associated with an aging population.

"Genetic Precision and Continuous Funding are Elevating Anti-cancer Drugs Market to Unprecedented Potency”

Constant funding for cancer research results in new therapeutic targets and a better knowledge of the illness. In terms of projects, clinical trials, and funding, the pharmaceutical industry's primary market segment has been research and development for anti-cancer medications. Targeting treatment for tumors has been established in the last ten to thirty years. It has proven to be extremely clinically beneficial, turning certain formerly fatal diseases into chronically treatable disorders. New developments in genetics and molecular biology help to create anti-cancer medications that are more precise and potent. Researchers are now also developing a novel class of cancer medications known as radiopharmaceuticals; these medications target cancer cells directly with radiation treatment. This, in turn, contributes to the anti-cancer drugs market growth by expanding the arsenal of treatment options.

“Translational Research Sparks Personalized Therapies and Revolutionizes Cancer Care”

The way medical professionals create novel therapies for cancer patients has been transformed by translational research. One of the many significant developments in modern oncology is the shift from an organ-centric perspective that dictates therapy choice to detailed molecular analysis that drives a tailored strategy. In the era of customized medicine, individuals' unique genetic composition is taken into account while designing a treatment plan.

In countries with high human development indices, personalized medicine has completely changed the way cancer is managed. Oncologists are now able to target a patient's cancer better and get more successful outcomes by using a range of technologies to examine both disease and host characteristics. Owing to developments in genetic profiling, medications that are more successful for particular patient subgroups can be developed by identifying particular biomarkers. This paradigm shift contributes significantly to the progression of the anti-cancer drugs market by offering innovative and tailored solutions for patients.

Which Factors Pose Challenges to the Development of the Anti-cancer Drugs Market?

“High Manufacturing Costs Contribute to the Financial Toxicity of Anti-cancer Drugs”

Increased expenses related to research and development capabilities, restricted infrastructure, elevated aesthetic expenses, and a lack of knowledge in developing nations are anticipated to hinder market expansion. Anticancer drugs, like those from the United States Food and Drug Administrations (FDA) and other agencies, are developed and distributed in compliance with regulatory agency permission.

To get permission for a new launch, manufacturers need to provide comprehensive clinical data supporting the safety and effectiveness of the product being tested. These approval processes are sometimes drawn out and demand a large financial outlay from the big businesses in order for them to stay competitive, which directly affects the price of the products they produce. The high cost of manufacture has affected the ultimate price of the goods. As a result, financial toxicity limits the anti-cancer drugs market, placing a heavy financial burden on cancer sufferers.

“Global Shift toward Lower-cost Cancer Care Raises Concerns for Anti-cancer Drugs Market Expansion”

The market is expected to be challenged by the absence of advantageous reimbursement conditions, the lack of technological penetration in emerging economies, the high customs tax on medical equipment, and the dearth of appropriate infrastructure in low- and middle-income nations. In addition, side effects from anti-cancer medications are a common concern that is likely to decrease demand for the product as a whole in the years to come.

Several countries approved the use of generic medications to treat cancer in order to lower the cost of cancer care. In February 2021, the European Pharmaceutical Review reported that around 1,351 generic medications were readily available in India for medical management of cancer. The expansion of the anti-cancer drugs market is likely to be constrained by the availability of generic medications.

How can Start-ups Leverage Business Opportunities in the Anti-cancer Drugs Market through Strategic Initiatives?

Strong product development should be a top priority for start-ups hoping to succeed in the anti-cancer drug market. This entails carrying out extensive preclinical and clinical investigations to prove the safety and effectiveness of their medications. During the development phase, involving influential figures in the field of cancer may guarantee conformity with market demands and bolster credibility.

• In May 2022, Domain Therapeutics successfully raised US$ 42 million in a Series A investment sponsored by Panacea Venture, CTI Life Sciences, and 3B Future Health Fund. The business is creating anti-cancer medications that specifically target G protein-coupled receptors (GPCRs), a subset of cell surface proteins. The business claims that certain GPCRs are crucial in assisting malignancies to evade immune checkpoint inhibitor therapy and depress the immune system.

Finance is a vital component. It is advisable for startups to broaden their funding sources by pursuing assistance from government grants, venture capitalists, and strategic alliances. They are able to successfully traverse the protracted and capital-intensive drug development process while retaining financial agility.

• OriCell Therapeutics aims to establish itself as a global leader in the creation of innovative immunotherapies for cancer. The biotech startup raised about US$ 120 million in Series B funding in August 2022, with Qiming Venture Partners and Quan Capital leading the deal. A US$ 45 million Series B1 round headed by RTW Investments and Qatar Investment Authority finished off OriCell in February 2023.

Leveraging technology is a game-changer in the anti-cancer drugs market. Drug development is accelerated by integrating data analytics and artificial intelligence. Additionally, it improves precision medical methods by customizing care to each patient's unique profile. Using digital platforms to engage patients and conduct clinical trials expedites procedures and boosts productivity.

• For many years, antibody therapy has been used as a more accurate and less dangerous option to chemotherapy in the treatment of cancer. But, it has remained unaffordable for the average individual. ImmunotoAI, a Bengaluru-based business, could have an answer for this. ImmunotoAI declared in July 2023 that it is creating an AI platform for antibody-based drug discovery that intends to expedite and lower the cost of designing and producing antibody therapeutics.

Country-wise Insights

The North America anti-cancer drugs market is gearing up for remarkable growth, foreseeing an impressive CAGR of 7.7% through 2034. This upswing is largely driven by the escalating demand for natural anti-cancer agents in crucial countries, particularly the United States and Canada. By 2024, the United States takes the lead in the anti-cancer drugs sector, boasting an estimated market share of 86.7%. Meanwhile, the anti-cancer drugs market in East Asia is poised for substantial advancement, targeting a 6.9% CAGR until 2034. In this region, Japan takes the spotlight as a key player in the anti-cancer drugs industry, holding a substantial market share of 61.4% in 2024.

What Factors Contribute to Japan's Status as a Flourishing Market for Anti-Cancer Drugs Developers?

“Anti-cancer Drugs Market Soars in Japan with Rising Geriatric Population”

The market in East Asia is likely to stand at US$ 40,744 million in 2024, acquiring a revenue share of 20.5%, and is further projected to expand at a CAGR of 6.9% through 2034.

The anti-cancer drugs industry in Japan is estimated to be worth US$ 25,018 million in 2024, with a revenue share of 61.4%. The demand for anti-cancer medicine in Japan is projected to rise at a CAGR of 6.8% through 2034. The primary drivers of the market growth include the rising cancer incidence rate in Japan, the explosion of research into novel drugs for cancer therapy, and the rise in healthcare spending. Before the age of 75, cancer is predicted to strike 17.6% of women and 26.3% of men in Japan.

Japan leads the world in the treatment of cancer. In Japan, hospitals are required to be governed by doctors and to be non-profit organizations. Furthermore, a rise in demand for oncology pharmaceuticals for treatment due to increased awareness of early cancer detection has boosted the cancer antigens market growth in Japan. Additionally, for the first time ever, as of September 2023, over 10% of the population in Japan is 80 years of age or older. A record 29.1% of the 125 million people in the country are 65 years of age or older, according to national figures. As the elderly are more susceptible to certain malignancies, the rise in the geriatric population also supports the anti-cancer drugs market expansion.

What Factors Contribute to the United States' Dominance in the Global Anti-cancer Drugs Market?

“Leading Anticancer Drug Companies Steer the Wheel in Shaping the Future of the United States Market”

The market in North America is likely to stand at US$ 82,594 million in 2024, acquiring a revenue share of 41.5%, and is further projected to expand at a CAGR of 7.7% through 2034. Anti-cancer drug sales are expected to be driven primarily by North America due to the region's easy access to medications and high levels of healthcare spending from both the public and private sectors.

The United States anti-cancer drugs industry is estimated to be worth US$ 71,571 million in 2024, garnering a share of 86.7%. The sales of anti-cancer drugs in the United States are likely to record a CAGR of 7.8% through 2034. The availability of multiple state-of-the-art cancer therapies, rising healthcare expenditures, high rates of cancer diagnostic tests, increasing cancer cases, and the notable presence of leading anticancer drug companies are all driving growth in the United States anti-cancer drugs market.

In the United States, the number of instances of multiple cancer has skyrocketed in recent years, and it is expected that this trend is going to persist during the forecast period. The United States had an expected 1.9 million new cancer cases identified and 609,360 cancer deaths in 2022, according to the American Cancer Society. According to a different National Cancer Institute report, the United States is expected to see about 2.0 million cancer diagnoses in 2023.

55.8 million individuals in the United States were 65 years of age or older in 2021, or around 16.8% of the total population. Compared to 1950, when just 8% of the population was 65 or older, there has been a notable growth. By 2040, the percentage of the population 65 and over is predicted to increase to 22%. The anti-cancer drugs market is projected to rise considerably in the United States as cancer is more common among older adults.

Category-wise Insights

In 2024, the targeted therapy segment is projected to be at the forefront, claiming a substantial 58.8% market share. At the same time, the cytotoxics segment is expected to make a notable impact, securing a significant 30.8% share. This diverse market landscape is poised for stability with these substantial contributions from both segments.

In 2024, the breast cancer segment is set to assert its dominance in the anti-cancer drugs industry, commanding a notable 22.0% market share. This highlights the crucial role that anti-cancer drugs play when it comes to breast cancer therapies.

What Factors Contribute to the Preference for Targeted Therapy as the Primary Anti-cancer Drug Class?

The targeted therapy segment is estimated to hold 58.8% of the anti-cancer drugs market share in 2024. The adoption of targeted therapy as a default drug class is projected to rise at a CAGR of 7.4% through 2034.

Targeted therapies stand out as the preferred choice in anti-cancer treatments, as they specifically pinpoint cancer cells while sparing healthy ones. These therapies operate in various ways. They impede the growth and division of cancer cells by obstructing crucial signals. They also help the immune system function better and label cancer cells, which makes them easier to find and eliminate. Targeted treatments shorten cancer cells' lifespan and keep them from outliving healthy cells. These treatments actively eradicate cancer cells, which helps to completely eradicate the illness. As a result, preference for targeted therapy to treat cancer is growing across the globe.

The effectiveness of targeted anti-cancer therapy is based on their capacity to identify and respond to the unique properties of cancer cells. For example, the genetic changes that cause lung cancer to proliferate are not the same as those that cause breast cancer. This selectivity distinguishes targeted treatments from conventional chemotherapy, which targets and kills malignant cells. It also carries the risk of damaging healthy cells because it is cytotoxic to maximum cells.

What Contributes to the Expansion of Anti-cancer Drugs Market Specifically in the Context of Breast Cancer?

“Anti-cancer Drugs Hits the Mark in Treating Rapidly Dividing Breast Cancer Cells”

The adoption of anti-cancer drugs in the application of breast cancer is anticipated to rise at a CAGR of 7.9% through 2034. Breast cancer is a common malignancy with an increased risk associated with aging. It is more prevalent in the elderly. The risk is higher during menopause, and it could go up if menopause is initiated after age 55. On the other hand, breast cancer has one of the top rates of survival. This indicates a greater awareness of accessible pharmaceuticals, including anti-cancer therapies, among the general population.

Anti-cancer drugs, commonly referred to as chemotherapy, work well in treating breast cancer because cancer cells in the breast divide more frequently than regular cells. These drugs specifically target and eliminate the rapidly dividing breast cancer cells. Additionally, Tamoxifen, a medication used in breast cancer treatment, hinders the impact of estrogen, a hormone crucial for the growth of many breast cancers. Tamoxifen falls under a category of anti-cancer drugs called selective estrogen receptor modulators (SERMs), and it lessens the influence of estrogen in various parts of the body, including the breast.

Competitive Landscape

Key players with considerable sway over research and development, innovation, and, ultimately, the treatment landscape of cancer are the backbone of the anti-cancer drugs market.

The leading players in the anti-cancer drugs include Hoffmann-La Roche Ltd, Eli Lilly and Company, Novartis AG, Pfizer Inc., Bayer AG, AstraZeneca, Takeda Pharmaceutical Company Limited, Merck & Co., Inc., CELGENE CORPORATION, and Amgen Inc. Companies are using a variety of strategies to obtain a competitive edge in the ever-changing anti-cancer drug market. Many are concentrating on research and development and are always coming up with new ideas to bring in innovative treatments that target particular cancer types. In order to improve their product lines, many are focusing on strategic alliances and collaborating with research institutes or other business entities. Implementing proactive advertising methods, anti-cancer drugs market leaders are utilizing conventional and digital channels to build a strong brand presence and generate awareness.

• In August 2023, researchers at the City of Hope, one of the top cancer research and treatment centers in the United States, have conducted a new study. In this study, they utilized proliferating cell nuclear antigen (PCNA), a protein previously considered challenging for targeted anti-cancer therapy, to develop a targeted chemotherapy. In preclinical research, it shows promise in completely eradicating all solid tumors.
• In November 2022, the Food and Drug Administration authorized tremelimumab (Imjudo, AstraZeneca Pharmaceuticals) alongside durvalumab (Imfinzi, AstraZeneca Pharmaceuticals) and chemotherapy containing platinum. This approval is specifically for individuals over the age of 18 with metastatic non-small cell lung cancer (NSCLC) who do not have sensitizing epidermal growth factor receptor (EGFR) mutation or anaplastic lymphoma kinase (ALK) genomic tumor aberrations.

Segmentation of Anti-cancer Drugs Market Research

• By Drug Class :

  • Cytotoxics
  • Hormonal Therapy
  • Targeted Therapy

• By Indication :

  • Prostate Cancer
  • Lung Cancer
  • Breast Cancer
  • Melanoma
  • Colon and Rectum Cancer
  • Others

• By Distribution Channel :

  • Hospital Pharmacies
  • Retail Pharmacies

• By Region :

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa