Heading: Oncology Therapy Market Size worth US$ 440.26 Billion by 2033, Boasting a Robust 9.6% CAGR, Insights by DataM Intelligence

HYDERABAD, India, Aug. 28, 2025 /PRNewswire/ -- According to DataM Intelligence, the global oncology therapy market size reached US$ 193.98 billion in 2024 and is expected to reach US$ 440.26 billion by 2033, growing at a CAGR of 9.6% during the forecast period 2025-2033.

The oncology therapy market is rapidly evolving, fueled by groundbreaking product launches, accelerated regulatory approvals, and strategic collaborations that are reshaping treatment paradigms. The recent wave of approvals, including antibody-drug conjugates like datopotamab deruxtecan, bispecific antibodies such as linvoseltamab and zanidatamab, and the first tumor-infiltrating lymphocyte therapy lifileucel, reflects the industry's pivot toward precision, immuno-centric approaches that expand patient options while driving competitive differentiation.

Market momentum is further amplified by high-value partnerships, such as Bristol Myers Squibb's $11.1 billion deal with BioNTech, signaling sustained investor confidence in immunotherapies as future growth engines and Boehringer Ingelheim's FDA approval for Hernexeos in lung cancer underscores how both established and emerging players are intensifying innovation pipelines to capture market share. Together, these dynamics highlight a sector at an inflection point—one where oncology therapies are no longer defined solely by incremental survival benefits but by transformative potential, making this one of the most attractive and disruptive markets in global healthcare.

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Rising Cancer Prevalence Drives Market Growth

The global rise in cancer incidence is a key driver of the oncology therapy market. According to the National Institutes of Health, there were approximately 20 million new cancer cases and 9.7 million cancer-related deaths worldwide in 2022. By 2040, new cases are expected to reach 29.9 million annually, with deaths rising to 15.3 million. The International Agency for Research on Cancer projects cancer incidence to hit 21.3 million cases in 2025 and 24.1 million by 2030. Breast cancer, in particular, is a major contributor, with 2.3 million cases in 2022, expected to rise to 2.7 million by 2030. This growing patient pool is increasing demand for therapies like chemotherapy, immunotherapy, targeted therapy, and radiation.

Challenges from Adverse Effects

Adverse effects associated with oncology therapies pose a significant challenge to market growth. Chemotherapy, while effective, often causes severe side effects due to its non-selective action on rapidly dividing cells, impacting healthy tissues and leading to treatment delays or discontinuation. Immunotherapies, though innovative, can trigger immune-related adverse events, causing inflammation in healthy tissues. Targeted therapies, while precise, may also produce side effects related to the inhibition of specific molecular targets. These challenges can reduce patient compliance and limit the adoption of certain therapies, impacting overall market expansion.

Breast Cancer Segment Dominates the Market

The breast cancer segment holds the largest market share in the oncology therapy market, driven by its high global prevalence. In 2022, the World Health Organization reported 2.3 million new breast cancer cases and 670,000 deaths, making it the most common cancer worldwide. Advances in treatments like targeted therapies (e.g., Trastuzumab) and immunotherapies have significantly improved survival rates. For example, in January 2024, AstraZeneca India Pharma Ltd. launched Trastuzumab deruxtecan, an antibody-drug conjugate for HER2-positive breast cancer, in collaboration with Daiichi Sankyo. Such innovations continue to bolster the segment's dominance.

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North America Leads with Significant Market Share

North America held the largest share of the global oncology therapy market in 2023, with a market size of US$ 75.64 billion, up from US$ 70.70 billion in 2022. The region's growth is driven by a strong presence of major market players, rising cancer prevalence, advanced healthcare infrastructure, and increasing research and clinical studies. The U.S., in particular, benefits from frequent FDA approvals and innovative therapy launches. For instance, in April 2024, Johnson & Johnson received FDA approval for CARVYKTI, a BCMA-targeted therapy for multiple myeloma. Similarly, in May 2024, Amgen's IMDELLTRA was approved for extensive-stage small cell lung cancer. These developments, combined with lifestyle factors and an aging population, continue to drive North America's market leadership.

Emerging markets in Asia Pacific and Latin America are experiencing explosive growth, propelled by rising cancer awareness, improving healthcare systems, and increasing disposable incomes. Countries like China and India are witnessing a spike in demand for advanced oncology therapies, supported by local partnerships and regulatory advancements. These regions offer immense potential for market expansion as access to cutting-edge treatments continues to improve.

Major Companies:

Major companies working towards the market's growth include Amgen Inc., AstraZeneca, Bayer AG, Merck & Co., Inc., Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, Novartis AG, GSK plc, Eli Lilly and Company, Rigel Pharmaceuticals, Inc., among others.

Recent Developments:

• In August 2025, Boehringer Ingelheim's HERNEXEOS (zongertinib tablets) was approved by the U.S. Food and Drug Administration (FDA). The kinase inhibitor is indicated for the treatment of adult patients with unresectable or metastatic non-squamous non-small cell lung cancer (NSCLC) whose tumors have HER2 (ERBB2) tyrosine kinase domain activating mutations, as detected by an FDA-approved test, and who have received prior systemic therapy.
• In June 2025, Glenmark Pharmaceuticals Ltd., a research-driven global pharmaceutical company, officially launched TEVIMBRA (tislelizumab) in India, following approval from the Central Drugs Standard Control Organisation (CDSCO). This development marks Glenmark's strategic entry into the country's rapidly evolving immuno-oncology segment. TEVIMBRA, an anti-PD-1 monoclonal antibody originally developed by BeiGene (now BeOne Medicines), is indicated for the treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) either in combination with chemotherapy (as a first-line therapy) or as a standalone treatment (in second-line settings).

Related Reports:

Oncology Information Systems Market is segmented By Product & Services, By Application, By End User, By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)

Cancer Immunotherapy Market is segmented By Type (Immune Checkpoint Inhibitors, Cytokines, Cancer Vaccines, Adoptive Cell Therapy, Other Immunotherapies), By Indication (Non-Small Cell Lung Cancer (NSCLC), Melanoma, Colorectal Cancer, Renal Cell Carcinoma, Breast Cancer, Bladder Cancer, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Antibody Drug Conjugates Market is segmented By Product Type (Adcetris, Perjeta, Kadcyla, Enhertu, Padcev, Trodelvy, Polivy, Others ), By Target Type (CD30 Antibodies, HER2 Antibodies, CD22 Antibodies, Others ), By Technology Type (Linker Technology, Payload Technology, Others), By Application( Breast Cancer, Blood Cancer, Skin Cancer, Lung Cancer, Ovary Cancer, Others ), By End-User (Hospitals, Cancer Centres, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)

CAR-T Cell Therapy Market is segmented By Therapy Type, By Drug Type, By Target Antigen, By Application, By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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