1. Market Value and Growth Rate
The global Oncology & Cancer Drugs market is projected to reach a significant milestone in 2025, with an estimated market value of $302,068 million USD. This growth is driven by a robust compound annual growth rate (CAGR) of 11.92% from 2025 to 2030. The market’s expansion is attributed to the increasing prevalence of various cancers, the aging global population, and continuous innovations in pharmaceutical research and development.
Oncology & Cancer Drugs refer to a diverse range of pharmaceuticals designed to treat tumors and cancers. These drugs work by targeting and inhibiting the growth and division of cancer cells, thereby reducing the overall number of cancer cells in the body and minimizing the risk of metastasis. Common types of Oncology & Cancer Drugs include chemotherapy, targeted therapy, immunotherapy (biologic therapy), hormonal therapy, and others.
Chemotherapy drugs are chemical agents that destroy fast-growing cells, while targeted therapies seek out and kill cancerous cells without harming normal cells. Immunotherapy leverages the body’s immune system to attack cancer cells, and hormonal therapy treats cancers that rely on hormones to grow. These drugs play a crucial role in the management and treatment of various cancers, including blood cancers, solid tumors, and others.
Figure Global Oncology & Cancer Drugs Market Revenue (M USD) in 2025
2. Driving Factors and Limiting Factors
The growth of the Oncology & Cancer Drugs market is driven by several key factors. The increasing incidence of non-small cell lung cancer, driven by rising smoking rates and an aging population, is a significant driver. Governments around the world are also helping cancer patients reduce the burden of treatment through preferential reimbursement policies and increased healthcare spending. Additionally, the expansion of medical insurance coverage and the approval of innovative drugs are driving market growth.
However, the market faces several challenges. The lengthy and expensive process of drug development, coupled with the high degree of uncertainty in outcomes, poses a significant risk. Strict regulatory oversight by agencies such as the FDA, EMA, and NMPA ensures the safety and efficacy of Oncology & Cancer Drugs, but also creates barriers to entry. The biopharmaceutical industry, particularly in the development of targeted therapies, faces high technical barriers due to the complexity of drug development and the need for comprehensive clinical data.
3. Technology Innovation and Corporate Mergers and Acquisitions
The Oncology & Cancer Drugs market is characterized by continuous technological innovation and strategic corporate activities. Companies are investing heavily in research to develop new and more effective treatments.
For instance, Bristol-Myers Squibb’s acquisition of Turning Point Therapeutics and Regeneron’s acquisition of Checkmate Pharmaceuticals highlight the industry’s focus on expanding its immuno-oncology pipeline. These acquisitions and partnerships aim to leverage innovative technologies and compounds to enhance treatment options for cancer patients.
In addition to mergers and acquisitions, companies are also focusing on developing next-generation therapies. For example, Amgen’s approval of LUMAKRAS® in Japan for KRAS G12C-mutated advanced non-small cell lung cancer and Sanofi’s acquisition of Amunix Pharmaceuticals to develop Conditionally Activated Biologics demonstrate the industry’s commitment to advancing cancer treatments.
4. Analysis of Oncology & Cancer Drugs Market by Product Types
The Oncology & Cancer Drugs market is categorized into several product types, each with distinct definitions and market sizes. By 2025, the market is projected to reach a significant value, with different product types contributing to this growth.
Product Types and Market Size in 2025
Chemotherapy: Chemotherapy drugs are chemical agents that work by destroying fast-growing cells in the body. These drugs are effective in reducing the total number of cancer cells and minimizing the risk of cancer spreading. By 2025, the chemotherapy market is expected to reach $46,603 million USD.
Targeted Therapy: Targeted therapies are part of personalized medicine, seeking out and killing cancerous cells without harming normal cells. These drugs block molecular pathways critical to tumor growth. The targeted therapy market is projected to reach $120,559 million USD by 2025.
Immunotherapy (Biologic Therapy): Immunotherapy uses the body’s immune system to attack cancer cells. By 2025, the immunotherapy market is expected to reach $64,013 million USD.
Hormonal Therapy: Hormone therapy treats cancers that rely on hormones to grow, such as certain types of breast and prostate cancer. The hormonal therapy market is projected to reach $26,670 million USD by 2025.
Others: This category includes clinical trials of cancer drugs and other emerging treatments. The market for these products is expected to reach $44,223 million USD by 2025, with a CAGR of 10.21% from 2022 to 2028.
Table Market Sizes and Market Shares of Oncology & Cancer Drugs by Type in 2025
|
Type of Drug |
Market Size (M USD) |
Market Share (%) |
|---|---|---|
|
Chemotherapy |
46,603 |
15.43 |
|
Targeted Therapy |
120,559 |
40.41 |
|
Immunotherapy (Biologic Therapy) |
64,013 |
21.56 |
|
Hormonal Therapy |
26,670 |
8.92 |
|
Others |
44,223 |
14.89 |
|
Total |
302,068 |
100.00 |
5. Analysis of Oncology & Cancer Drugs Market by Applications
The applications of Oncology & Cancer Drugs are diverse, targeting various types of cancers and tumors. By 2025, the market is expected to see significant growth in different application areas.
Applications and Market Size in 2025
Blood Cancers: Blood cancers start in the bone marrow and include non-Hodgkin lymphoma (NHL), acute myeloid leukemia (AML), myelodysplastic syndromes (MDS), multiple myeloma (MM), and others. The blood cancers market is projected to reach $60,193 million USD by 2025.
Solid Tumors: Solid tumors can develop in muscles, bones, and organs. This category includes non-small cell lung cancer (NSCLC), prostate cancer (PrCa), breast cancer (BrCa), triple-negative breast cancer (TNBC), ovarian cancer, colorectal cancer, and others. The solid tumors market is projected to reach $241,875 million USD by 2025.
Table Market Sizes and Market Shares of Oncology & Cancer Drugs by Application in 2025
|
Application |
Market Size (M USD) |
Market Share (%) |
|---|---|---|
|
Blood Cancers |
60,193 |
19.93 |
|
Solid Tumors |
241,875 |
80.07 |
|
Total |
302,068 |
100.00 |
6. Analysis of Oncology & Cancer Drugs Market by Major Regions
The global Oncology & Cancer Drugs market is spread across several major regions, each contributing to the overall market size. By 2025, the market is expected to see significant growth in different regions.
North America: North America is the largest market, projected to reach $140,285 million USD by 2025.
Europe: Europe is the second-largest market, projected to reach $73,389 million USD by 2025.
Asia-Pacific: The Asia-Pacific region is the fastest-growing market, projected to reach $70,752 million USD by 2025.
Middle East & Africa: The Middle East and Africa market is projected to reach $5,386 million USD by 2025.
Latin America: Latin America is projected to reach $12,255 million USD by 2025.
Figure Global Oncology & Cancer Drugs Value (M USD) by Region in 2025
7. Analysis of the Top 3 Companies in the Oncology & Cancer Drugs Market
7.1. Bristol-Myers Squibb
Company Introduction and Business Overview:
Bristol-Myers Squibb (BMS) is a global biopharmaceutical company founded in 1887 and headquartered in the United States. BMS is dedicated to discovering, developing, and delivering innovative medicines to improve the lives of patients with serious diseases. The company’s focus areas include oncology, cardiovascular diseases, immunoscience, fibrosis, and more. BMS has a strong commitment to research and development, aiming to provide the right medicine to the right patient at the right time for optimal outcomes.
Products Offered:
BMS offers a range of oncology and cancer drugs, including:
OPDIVO: A prescription medicine used to help prevent cancer of the lining of the urinary tract (urothelial cancer) from coming back.
ABRAXANE: Used to treat advanced pancreatic and breast cancer.
YERVOY®: A monoclonal antibody used to treat melanoma and prevent its recurrence.
Sales Revenue in 2022:
Bristol-Myers Squibb reported a revenue of $32,994 million USD in 2022, with a gross margin of 77.92%. This revenue places BMS at the forefront of the Oncology & Cancer Drugs market, holding a market share of 15.16%.
7.2. Roche
Company Introduction and Business Overview:
Roche is a global pioneer in pharmaceuticals and diagnostics, founded in 1896 and headquartered in Switzerland. Roche focuses on advancing science to improve people’s lives through personalized healthcare. The company’s portfolio includes differentiated medicines in oncology, immunology, infectious diseases, ophthalmology, and central nervous system diseases. Roche is also a leader in in vitro diagnostics and tissue-based cancer diagnostics.
Products Offered:
Roche’s key oncology and cancer drugs include:
Gazyva/Gazyvaro: An engineered monoclonal antibody used to treat chronic lymphocytic leukemia and follicular lymphoma.
MabThera/Rituxan: The first therapeutic monoclonal antibody targeting CD20-positive cells, used in various blood cancers.
Kadcyla: An antibody-drug conjugate used to treat HER2-positive advanced breast cancer.
Sales Revenue in 2022:
Roche reported a revenue of $23,362 million USD in 2022, with a gross margin of 81.05%. Roche holds a market share of 10.73%, making it a significant player in the Oncology & Cancer Drugs market.
7.3. Merck & Co.
Company Introduction and Business Overview:
Merck & Co., known as MSD outside the United States and Canada, is a leading global pharmaceutical company founded in 1891 and headquartered in the United States. Merck is committed to inventing for life, providing medicines and vaccines for some of the world’s most challenging diseases. The company operates in over 140 countries, focusing on oncology, cardiometabolic diseases, infectious diseases, and more.
Products Offered:
Merck’s key oncology and cancer drugs include:
KEYTRUDA: A prescription medicine used to treat various types of cancer, including bladder cancer and non-small cell lung cancer.
TEMODAR®: An alkylating drug used to treat glioblastoma multiforme and anaplastic astrocytoma.
Sales Revenue in 2022:
Merck & Co. reported a revenue of $21,630 million USD in 2022, with a gross margin of 74.35%. Merck holds a market share of 9.94%, positioning it as a major contender in the Oncology & Cancer Drugs market.