A new research report, the global oncology market size was USD 321.19 billion in 2024, and calculated at USD 356.20 billion in 2025 is expected to reach around USD 903.81 billion by 2034, growing at a CAGR of 10.9% for the forecasted period. the development of the global healthcare infrastructure and cancer continuing to be one of the leading causes of death worldwide drives growth in the global oncology market.
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Oncology Market Key Takeaways
• The U.S oncology market size was valued at USD 145.52 billion in 2024 and is projected to hit around USD 416.93 billion by 2034, growing at a compound annual growth rate (CAGR) of 11.1% over the forecast period 2025 to 2034.
• The North America Oncology market dominated the global market with a revenue share of 47% in 2024.
• The Europe oncology market is anticipated to grow at the fastest CAGR of 15.8% over the forecast period.
• By cancer diagnostics & treatment, the cancer treatment segment dominated the market and held the largest share of 57% in 2024.
• By indication, the lung cancer segment registered the maximum market share of 37% in 2024.
• By End-use ,the hospital segment is growing at a CAGR of 10.9% from 2025 to 2034.
• death worldwide drives growth in the global oncology market.
Increasing Cancer Incidence Drives Demand for Oncology Treatments
The global oncology market is undergoing rapid growth, mainly due to the increasing number of cancer cases around the world. The World Health Organization estimates there will be over 35 million new cancer cases by 2050, a massive 77% increase from the estimated 20 million cases in 2022. This rising occurrence of cancer has been attributed to lifestyle changes in an increasingly geriatric population in both developed countries and emerging economies. Environmental factors such as pollution and the high penetration of microplastics, a potential carcinogen, are also contributing to the growing number of cancer cases. As the global burden of cancer continues to go up, government and private organizations are increasing funding in both healthcare infrastructure and investment into research and development of therapeutics and potential cures for various kinds of cancers. Many federal early detection programs have been launched with large players in the pharmaceutical sector looking to increase the number of clinical trials and drug discovery studies undertaken. These innovations are propelling market expansion, with the sector expected to witness significant growth in the coming years as new technologies and therapies continue to emerge.
Innovations in cancer treatments include advancements in immunotherapy and precision medicine (which include targeted therapies), and the various applications of artificial intelligence. Some examples of novel oncological treatments include kinase and checkpoint inhibitors, monoclonal antibodies, and CAR-T cell therapy. These therapeutics mobilize the body’s immune system in new ways to fight cancer. As early diagnostic techniques improve, certain kinds of cancers, such as breast cancer, melanoma, and thyroid cancer, can be cured more frequently. Techniques such as liquid biopsy, biomarker-based testing and breakthroughs such as next-generation sequencing (NGS) are enhancing the ability to diagnose cancer at an early stage. As investment continues to grow in the oncology sector, new treatments are expected to improve the remission and survival rates of patients battling this disease and provide a boost to growth in the global oncology market.
U.S Oncology Market Trends
• Growing Demand for Personalized Medicine: A shift towards precision medicine is proving to be a breakthrough in oncology treatment, allowing healthcare providers to tailor their treatments according to an individual patient’s unique genetic information, leading to more effective treatment strategies and a lesser number of side effects.
• Expansion of Immunotherapy: The development and growing adoption of immunotherapies such as tumor-infecting viruses, checkpoint inhibitors, cytokines, monoclonal antibodies, and the development of cancer vaccines such as the HPV vaccines are leading to higher remission and survival rates in cancer patients.
• Advancements in Early Detection Technologies: The development of breakthroughs such as liquid biopsy and AI-based predictive diagnostic imaging and the development of hereditary cancer detection tools are enabling early cancer detection and time-appropriate intervention.
• Increasing Adoption of Tele-oncology and Generic Drugs: Telemedicine solutions are improving access to cancer care, especially in previously underserved regions, allowing for virtual consultations, treatment monitoring, and improved patient support. The rising availability of generic oncology drugs is also making treatment more affordable, especially in emerging economies.
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Oncology Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2025 |
USD 356.2 billion |
|
Revenue forecast in 2034 |
USD 903.81 billion |
|
Growth Rate |
CAGR of 10.9% from 2025 to 2034 |
|
Base year for estimation |
2024 |
|
Historical data |
2018 - 2024 |
|
Forecast period |
2025 - 2034 |
|
Quantitative units |
Revenue in USD million and CAGR from 2025 to 2034 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Cancer Diagnostics & Treatment, Indication, End-use, and region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
|
Country scope |
U.S., Canada, Mexico, UK, Germany, France, Italy, Spain, Denmark, Sweden, Norway, Japan, China, India, Australia, Thailand, South Korea, Brazil, Argentina, South Africa, Saudi Arabia, UAE, Kuwait |
|
Key companies profiled |
Aegerion Pharmaceuticals Inc., Abbvie Inc., Ability Pharma, Acadia Pharmaceuticals Inc., Amgen Inc., Takeda Oncology, Aslan Pharmaceuticals Ltd., Aspen Pharmacare Holdings Limited., Astrazeneca, Athenex, Inc. |
Oncology
Market Segment Insights Cancer
Diagnostics & Treatment Insights
The cancer
treatment segment held a dominant presence in the global oncology market in
2024. The segment is undergoing rapid growth due to innovations in early
detection methods, such as the increasing use of CT and PET scans, as well as
MRIs and rapid biopsies. The increasing adoption of new techniques, such as
next-generation sequencing (NGS), biomarker-driven diagnostics, and liquid
biopsies, are also leading to better treatment outcomes. The integration of
artificial intelligence in diagnostic imaging and treatment planning is further
revolutionizing cancer care by improving accuracy and efficiency. The cancer
diagnostics segment is projected to experience the highest growth rate in the
market between 2025 and 2034. Diagnostics such as colonoscopy, sigmoidoscopy,
Pap testing, and ultrasounds are becoming more common as cancer screening
efforts by governments ramp up. Rapid development of healthcare infrastructure
in emerging economies, especially in regions such as the Asia Pacific and
Africa, is leading to frequent and more accurate detection of cancers. Indication
Insights The lung cancer
segment maintained a leading position in the global oncology market in 2024.
Lung cancer is the most common cancer and the leading cause of cancer death
globally. Estimates from the American Cancer Society predict 234,580 new lung
cancer cases worldwide, with 125,070 deaths expected. Lung cancer remains
especially prevalent in Asia, where countries such as China make up for a
majority of these cases. Factors such as air pollution, prevalence of smoking,
vaping, and increasing genetic predispositions are leading to higher incidence
of lung cancer cases. The introduction of innovative therapies, including
targeted treatments and immunotherapy, has significantly improved patient
outcomes, fueling market growth. Governments and healthcare organizations are
also implementing initiatives to improve access to lung cancer treatments,
particularly in emerging markets. The breast
cancer segment is expected to grow at the fastest rate in the market during the
forecast period of 2025 to 2034. Increasing early detection due to rising
awareness and advancements in treatments, particularly for the early stages of
the condition, are leading to patients entering remissions quicker, with some
patients even finding themselves fully cured. An aging population, endocrine
disruptions that cause hormonal imbalances, and lifestyle changes are leading
to increased incidence of breast cancer. However, growing screening programs
that incorporate techniques such as mammography and genetic testing are being
deployed to increase diagnosis rates, leading to higher treatment demand. End Use
Insights The hospitals
segment accounted for a considerable share of the market in 2024. Healthcare
infrastructure continues to improve globally, leading to a rise in the number
of hospitals and ambulatory care centers. As cancer rates continue to rise
worldwide, hospitals are expanding their oncology departments to meet growing
patient demand. Governments and private investors are heavily funding hospital
expansions, particularly in emerging markets, to improve cancer care accessibility.
Technological advancements such as sophisticated radiation therapy and robotic
surgeries are improving the ability of hospitals to cater to a large number of
oncology patients. The diagnostic
laboratories segment saw notable growth in the global oncology market in 2024.
As both private and federal investment in cancer treatment increases, a large
number of diagnostic labs offering a variety of cancer detection tests are
springing up worldwide. Technological advancements, such as liquid biopsies,
next-generation sequencing (NGS), and AI-powered diagnostic tools, have
improved the precision and efficiency of cancer detection. Regional
Insights North
America Shows Promise for Growth in the Global Oncology Market The North
American region has one of the highest incidence rates of cancer in the world.
This is driving demand for early detection and innovative treatments in the
space. The region is also home to some of the biggest biotechnology,
biomedical, and pharmaceutical companies. The presence of robust research
institutions and increasing federal funding is leading to the widespread
adoption of cutting-edge technologies, such as AI-driven diagnostics and
robotic surgeries. The presence of well-established hospitals and oncology
treatment centers is also leading to significant growth, ensuring world-class
treatment and care for patients. Government initiatives, such as funding for
cancer research and healthcare policies that improve patient access to advanced
treatments, also contribute to market growth. U.S.
Oncology Market Shows Significant Demand The United
States is a world leader in oncology research with several pharmaceutical and
biotech giants investing in the development of novel therapeutics such as
immunotherapy, targeted treatments, and precision medicine. The country has
several established cancer treatment centers, including the University of Texas
MD Anderson Cancer Center, Mayo Clinic, and Dana-Farber Cancer Institute. These
institutions are leading cutting-edge research and clinical trials in the
space. Additionally, government initiatives such as the Cancer Moonshot
program, the RAS Initiative, and the Cancer Prevention Clinical Trials Network
are all contributing to breakthroughs. Asia
Pacific Is Seeing a Revolution in Cancer Treatment Emerging
economies in the Asia Pacific are driving the rapid expansion of the global
oncology market. India, China, and Japan are rapidly developing advanced cancer
centers, building hospitals with sophisticated oncology wings, and increasing
capacities for conducting radiation therapy, chemotherapy, and other targeted
treatments. Additionally, the region is witnessing rapid adoption of innovative
technologies such as AI-driven diagnostics, liquid biopsies, and precision
medicine. The growth of medical tourism is also leading to rapid growth in the
region, with subsidized treatment plans attracting patients from both the
United States and Europe. Browse More
Research Reports ; Oncology
Market Top Key Companies: • Aegerion
Pharmaceuticals Inc. • Abbvie Inc. • Ability
Pharma • Acadia
Pharmaceuticals Inc. • Amgen Inc. • Takeda
Oncology • Aslan
Pharmaceuticals Ltd. • Aspen
Pharmacare Holdings Limited. • Astrazeneca • Athenex,
Inc. Oncology
Market Report Segmentation This report
forecasts revenue growth at global, regional, and country levels and provides
an analysis of the latest industry trends in each of the sub-segments from 2019
to 2034. For this study, Vision Research Reports has segmented the global oncology Market By Cancer
Diagnostics & Treatment • Cancer
Diagnostics o
Biopsy o
Imaging o
Immunohistochemistry o
Tumor Biomarkers Test o
In Situ Hybridization o
Liquid Biopsy • Cancer
Treatment o
Targeted Therapy o
Chemotherapy o
Hormonal Therapy o
Immunotherapy o
Others By
Indication • Lungs
Cancer • Colorectal
Cancer • Breast
Cancer • Liver
Cancer • Bladder
Cancer • Head &
Neck Cancer • Prostate
Cancer • Others By End-use • Hospitals • Diagnostic
laboratories • Diagnostic
imaging centers • Academia • Specialty
clinics • Others By Regional • North
America • Europe • Asia Pacific • Latin
America • Middle East
Africa Immediate
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