The global oncology market will be substantially driven by the rise in various government and non-government initiatives to curb the occurrence of cancer diseases. For instance, in 2013, WHO introduced the Global Action Plan for the Prevention and Control of Non-communicable Diseases 2013-2020. This initiative is aimed at reducing over 25% of the overall premature deaths that are caused by cancer, diabetes as well as cardiovascular and chronic respiratory diseases through 2025.
Furthermore, WHO is also working towards limiting the instances of non-communicable diseases through collaborations with the International Agency for Research on Cancer (IARC) and a few other organizations. This health burden has augmented the need for early disease diagnosis, as well as cancer treatment methods, complementing the growth of surgical oncology.
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Annual revenue from cancer diagnostics in the oncology industry was valued close to USD 104.9 billion in 2019. This can be owed to the growing prevalence of the disease that has expanded the use of cancer diagnostics to inspect the different categories of cancers. The National Cancer Institute revealed that the rate of new cancer cases in 2017 reached 442.4 for every 100,000 men and women.
Oncology market value from prostate cancer is anticipated to cross USD 47.9 billion through 2026, considering the rising burden of the disease globally. The Global Cancer Observatory (GLOBOCAN) estimated that over 12.7 million new cases concerning prostate cancer were registered across the world in 2018.
In terms of regional outlook, Asia Pacific oncology market is projected to observe a significant CAGR of 11.4% through 2026 owing to growing awareness regarding early detection and mitigation of cancer in the region. Moreover, the availability of large patient pool across highly populous countries that are susceptible to several types of cancer will instigate the demand for oncology treatment further. For instance, China has reported second highest number of cancer cases following the U.S. Reportedly, in 2018, China accounted for 19.9 million new cases of cancer in females.
The current COVID-19 pandemic has also urged the need for these firms to sustain growing competition. For instance, Aurora Tele-Oncology partnered with UMP Healthcare in December 2020, to offer oncology telemedicine services across Mainland China. This collaboration will cater to the cross-border requirements for cancer care in the region. GE Healthcare, F. Hoffmann-La Roche, Thermo Fischer Scientific, Merck, Abbott, Janssen Diagnostics, LLC (Johnson & Johnson), and Pfizer are some other leading participants in the industry.
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Partial Chapter of the Table of Content
Chapter 5 Global Oncology Market, By Cancer Type
5.1 Key segment trends
5.2 Lung cancer
5.2.1 Market size, by region, 2015 – 2026 (USD Million)
5.3 Prostate cancer
5.3.1 Market size, by region, 2015 – 2026 (USD Million)
5.4 Colon & rectal cancer
5.4.1 Market size, by region, 2015 – 2026 (USD Million)
5.5 Gastric cancer
5.5.1 Market size, by region, 2015 – 2026 (USD Million)
5.6 Esophageal cancer
5.6.1 Market size, by region, 2015 – 2026 (USD Million)
5.7 Liver cancer
5.7.1 Market size, by region, 2015 – 2026 (USD Million)
5.8 Breast cancer
5.8.1 Market size, by region, 2015 – 2026 (USD Million)
5.9.1 Market size, by region, 2015 – 2026 (USD Million)
Chapter 6 Global Oncology Market, By End-use
6.1 Key segment trend
6.2.1 Market size, by region, 2015 – 2026 (USD Million)
6.3 Diagnostic laboratories
6.3.1 Market size, by region, 2015 – 2026 (USD Million)
6.4 Diagnostic imaging centers
6.4.1 Market size, by region, 2015 – 2026 (USD Million)
6.5.1 Market size, by region, 2015 – 2026 (USD Million)
6.6 Specialty clinics
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