Global Oncology & Cancer Drugs Market Overview

According to Global Market Monitor, the global Oncology & Cancer Drugs market size is $276.12 billion in 2024 and is expected to grow to $463.21 billion by 2029.

Oncology & Cancer is a group of diseases caused by the uncontrolled growth and division of abnormal cells. Oncology & Cancer Drugs refers to drugs that treat tumors and cancer. These drugs treat tumors and cancers by killing or inhibiting cancer cells in a variety of ways. Common Oncology & Cancer Drugs can be divided into chemotherapy, targeted therapy, immunotherapy (biologic therapy), hormonal therapy, and others.

The market size of Oncology & Cancer Drugs products will expand during the forecast period.

According to the World Health Organization, cancer is the leading cause of death globally, killing nearly 10 million people, or nearly one in six deaths. Of these, the most common cancers are breast, lung, colon, and rectal cancers and prostate cancer. At the same time, with the increase of age, the cell's self-repair function gradually decreases. Under the stimulation of the accumulation of various carcinogenic factors, the cell function is disordered, and under the action of various factors such as hypertension, diabetes, chronic obstructive pulmonary disease, and other malignant tumors of other organs, the incidence of cancer in the elderly population has risen sharply. In the future, the aging of the global population will continue to increase the number of cancer patients, thereby increasing the market demand for oncology & cancer drugs.

Strict supervision of Oncology & Cancer Drugs in various countries

Oncology & Cancer Drugs are products directly related to the health of citizens. Therefore, relevant drug regulatory agencies around the world have formulated a series of laws and regulations on the access, product licensing, marketing, and use of the Oncology & Cancer Drugs industry to strengthen the supervision of the Oncology & Cancer Drugs industry. The research and development, production, sales, and import of Oncology & Cancer Drugs are strictly regulated by relevant national laws and regulations. It is difficult for companies lacking relevant business qualifications to enter the bladder cancer drug industry. Common anticancer drug regulatory agencies include the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), the Chinese National Medical Products Administration (NMPA), and more.

Market Dynamics

Abbvie acquired Immuno Gen, a biotechnology company focused on developing antibody-coupled therapies for the treatment of cancer, to strengthen the company's position in oncology.

Novartis AG has acquired MorphoSys AG, a global biopharmaceutical company headquartered in Germany that develops oncology innovative drugs to strengthen its oncology pipeline.

Abbvie Inc. has partnered with Umoja Biopharma, a company focused on immunotherapy, which works by reprogramming T cells in the body to target cancer cells, to develop novel in situ CAR-T cell therapies