NEW YORK, May 2, 2023 /PRNewswire/ -- The size of the oncology market in India is forecasted to increase by USD 947.84 million from 2022 to 2027, at a CAGR of 13.45%, according to a recent market study by Technavio. The growth of the market will be driven by the increased prevalence of cancer, the need for cost-cutting in drug discovery and development, and the increasing demand for precision medicine. Charts & data tables about market and segment sizes for a historic period (2017-2021) and forecast period (2023-2027) have been covered in this report. Download the Sample Report
Vendor Analysis
The oncology market in India is fragmented due to the presence of numerous established vendors. Vendors are focused on introducing innovative product features and expanding access to cancer treatments by providing sophisticated cancer diagnostic systems. In addition, vendors are collaborating to expand their market share and geographic presence. This is expected to increase the competition in the market over the forecast period. Some of the key vendors covered in the report include:
- 3M Co.
- Abbott Laboratories
- AstraZeneca Plc
- Baxter International Inc.
- Bristol Myers Squibb Co.
- Cipla Ltd.
- F. Hoffmann La Roche Ltd.
- GE Healthcare Technologies Inc.
- Glenmark Pharmaceuticals Ltd.
- Lupin Ltd.
- Medtronic Plc
- Merck and Co. Inc.
- NATCO Pharma Ltd.
- Novartis AG
- Poly Medicure Ltd.
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Key Benefits for Industry Players & Stakeholders –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
To provide a deeper understanding of the competitive landscape, Technavio has profiled key players along with the study that categorizes the global market segmentation. Download the Sample
Market Segmentation:
The market is segmented by type (cancer treatment and cancer diagnostics) and end-user (hospitals, diagnostic laboratories, diagnostic imaging centers, and others).
The market growth in the cancer treatment segment will be significant over the forecast period. The market is witnessing increased R&D activities in the development and introduction of better therapies to treat cancer treatment-induced side effects. These drugs are anticipated to improve the quality of life of cancer patients in India who undergo cancer treatment. In addition, marketing strategies adopted by vendors such as product launches, mergers and acquisitions, and partnerships will foster the growth of the segment over the forecast period.
Market Dynamics:
Key Drivers:
- Increased prevalence of cancer
- Need for cost-cutting in drug discovery and development
- Increasing demand for precision medicine
Risk factors such as poor dietary practices, sedentary lifestyles, and excessive alcohol and tobacco consumption are increasing the prevalence of cancer. The increased exposure to ionizing radiation, chemical mutagens, infectious microorganisms, and environmental pollutants has also contributed to the increased number of cancer patients in India. In 2020, the estimated national expenditure on cancer treatment in India was approximately USD 23.8 billion. This is expected to increase as more people are being diagnosed with cancer. The rising number of cancer cases has increased the demand for and use of cancer immunotherapy, which is encouraging vendors to develop more advanced and upgraded therapies. All these factors will support the growth of the oncology market in India during the forecast period.
Major Trends:
- Rising adoption of immunotherapy
- Rise in R&D
- Rising adoption of robotic surgeries
Immunotherapy is demonstrated to be effective in treating patients in the third or fourth stages of cancer. It can be used to treat a variety of cancers, including lung cancer, kidney cancer, bladder cancer, melanoma, neck tumor, and lymphoma. A recent study in India has discovered that an extremely low dose of the immunotherapy drug nivolumab (Opdivo) extended the lives of patients with advanced head and neck cancer. Similarly, new immunotherapies are being developed to enhance the diagnosis, treatment, and management of cancer patients in India. This trend is expected to have a positive impact on the market growth during the forecast period.
Key Challenges:
- High cost of products for treatment of cancer
- Side effects associated with chemotherapy
- Lack of adequate healthcare infrastructure
The high cost of cancer treatment makes it unaffordable to the significant number of cancer patients in India. In addition, most cancer types are incurable and require individualized treatment. This means that if one drug or treatment fails, physicians will try alternative methods, which increases the cost burden on patients. Moreover, the withdrawal of the drug or the inability to obtain the necessary approvals can create a significant financial burden on vendors. Such factors reduce the growth potential of the market.
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What are the key data covered in this oncology market in India report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the oncology market in India between 2023 and 2027
- Precise estimation of the size of the oncology market in India and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the oncology market across India
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of oncology market vendors in India
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Oncology Market in India: Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.45% |
Market growth 2023-2027 |
USD 947.84 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
12.42 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Abbott Laboratories, Alkem Laboratories Ltd., AstraZeneca Plc, Baxter International Inc., Bristol Myers Squibb Co., Cipla Ltd., F. Hoffmann La Roche Ltd., GE Healthcare Technologies Inc., Glenmark Pharmaceuticals Ltd., Lupin Ltd., Medtronic Plc, Merck and Co. Inc., NATCO Pharma Ltd., Novartis AG, Poly Medicure Ltd., Siemens Healthineers AG, Sun Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., and Zydus Lifesciences Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse through Technavio's Health Care Market Reports
Table of contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 10: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 11: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 12: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
- Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Oncology market in India 2017 - 2021
- Exhibit 15: Historic Market Size – Data Table on Oncology market in India 2017 - 2021 ($ million)
- 4.2 Type Segment Analysis 2017 - 2021
- Exhibit 16: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.3 End user Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – End user Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 25: Chart on Type - Market share 2022-2027 (%)
- Exhibit 26: Data Table on Type - Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 27: Chart on Comparison by Type
- Exhibit 28: Data Table on Comparison by Type
- 6.3 Cancer treatment - Market size and forecast 2022-2027
- Exhibit 29: Chart on Cancer treatment - Market size and forecast 2022-2027 ($ million)
- Exhibit 30: Data Table on Cancer treatment - Market size and forecast 2022-2027 ($ million)
- Exhibit 31: Chart on Cancer treatment - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on Cancer treatment - Year-over-year growth 2022-2027 (%)
- 6.4 Cancer diagnostics - Market size and forecast 2022-2027
- Exhibit 33: Chart on Cancer diagnostics - Market size and forecast 2022-2027 ($ million)
- Exhibit 34: Data Table on Cancer diagnostics - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Chart on Cancer diagnostics - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Cancer diagnostics - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Type
- Exhibit 37: Market opportunity by Type ($ million)
- Exhibit 38: Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 39: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 40: Data Table on End-user - Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 41: Chart on Comparison by End-user
- Exhibit 42: Data Table on Comparison by End-user
- 7.3 Hospitals - Market size and forecast 2022-2027
- Exhibit 43: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 45: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
- Exhibit 46: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)
- 7.4 Diagnostic laboratories - Market size and forecast 2022-2027
- Exhibit 47: Chart on Diagnostic laboratories - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Data Table on Diagnostic laboratories - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Chart on Diagnostic laboratories - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Diagnostic laboratories - Year-over-year growth 2022-2027 (%)
- 7.5 Diagnostic imaging centers - Market size and forecast 2022-2027
- Exhibit 51: Chart on Diagnostic imaging centers - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Diagnostic imaging centers - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Diagnostic imaging centers - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Diagnostic imaging centers - Year-over-year growth 2022-2027 (%)
- 7.6 Others - Market size and forecast 2022-2027
- Exhibit 55: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 7.7 Market opportunity by End-user
- Exhibit 59: Market opportunity by End-user ($ million)
- Exhibit 60: Data Table on Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Impact of drivers and challenges
- Exhibit 62: Impact of drivers and challenges in 2022 and 2027
- 9.4 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Vendor landscape
- Exhibit 63: Overview on Criticality of inputs and Factors of differentiation
- 10.3 Landscape disruption
- Exhibit 64: Overview on factors of disruption
- 10.4 Industry risks
- Exhibit 65: Impact of key risks on business
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 66: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 67: Matrix on vendor position and classification
- 11.3 Abbott Laboratories
- Exhibit 68: Abbott Laboratories - Overview
- Exhibit 69: Abbott Laboratories - Business segments
- Exhibit 70: Abbott Laboratories - Key news
- Exhibit 71: Abbott Laboratories - Key offerings
- Exhibit 72: Abbott Laboratories - Segment focus
- 11.4 Alkem Laboratories Ltd.
- Exhibit 73: Alkem Laboratories Ltd. - Overview
- Exhibit 74: Alkem Laboratories Ltd. - Business segments
- Exhibit 75: Alkem Laboratories Ltd. - Key news
- Exhibit 76: Alkem Laboratories Ltd. - Key offerings
- Exhibit 77: Alkem Laboratories Ltd. - Segment focus
- 11.5 AstraZeneca Plc
- Exhibit 78: AstraZeneca Plc - Overview
- Exhibit 79: AstraZeneca Plc - Product / Service
- Exhibit 80: AstraZeneca Plc - Key news
- Exhibit 81: AstraZeneca Plc - Key offerings
- 11.6 Bristol Myers Squibb Co.
- Exhibit 82: Bristol Myers Squibb Co. - Overview
- Exhibit 83: Bristol Myers Squibb Co. - Product / Service
- Exhibit 84: Bristol Myers Squibb Co. - Key news
- Exhibit 85: Bristol Myers Squibb Co. - Key offerings
- 11.7 Cipla Ltd.
- Exhibit 86: Cipla Ltd. - Overview
- Exhibit 87: Cipla Ltd. - Business segments
- Exhibit 88: Cipla Ltd. - Key news
- Exhibit 89: Cipla Ltd. - Key offerings
- Exhibit 90: Cipla Ltd. - Segment focus
- 11.8 F. Hoffmann La Roche Ltd.
- Exhibit 91: F. Hoffmann La Roche Ltd. - Overview
- Exhibit 92: F. Hoffmann La Roche Ltd. - Business segments
- Exhibit 93: F. Hoffmann La Roche Ltd. - Key news
- Exhibit 94: F. Hoffmann La Roche Ltd. - Key offerings
- Exhibit 95: F. Hoffmann La Roche Ltd. - Segment focus
- 11.9 GE Healthcare Technologies Inc.
- Exhibit 96: GE Healthcare Technologies Inc. - Overview
- Exhibit 97: GE Healthcare Technologies Inc. - Business segments
- Exhibit 98: GE Healthcare Technologies Inc. - Key offerings
- Exhibit 99: GE Healthcare Technologies Inc. - Segment focus
- 11.10 Glenmark Pharmaceuticals Ltd.
- Exhibit 100: Glenmark Pharmaceuticals Ltd. - Overview
- Exhibit 101: Glenmark Pharmaceuticals Ltd. - Product / Service
- Exhibit 102: Glenmark Pharmaceuticals Ltd. - Key offerings
- 11.11 Lupin Ltd.
- Exhibit 103: Lupin Ltd. - Overview
- Exhibit 104: Lupin Ltd. - Product / Service
- Exhibit 105: Lupin Ltd. - Key news
- Exhibit 106: Lupin Ltd. - Key offerings
- 11.12 Medtronic Plc
- Exhibit 107: Medtronic Plc - Overview
- Exhibit 108: Medtronic Plc - Business segments
- Exhibit 109: Medtronic Plc - Key news
- Exhibit 110: Medtronic Plc - Key offerings
- Exhibit 111: Medtronic Plc - Segment focus
- 11.13 Merck and Co. Inc.
- Exhibit 112: Merck and Co. Inc. - Overview
- Exhibit 113: Merck and Co. Inc. - Business segments
- Exhibit 114: Merck and Co. Inc. - Key news
- Exhibit 115: Merck and Co. Inc. - Key offerings
- Exhibit 116: Merck and Co. Inc. - Segment focus
- 11.14 NATCO Pharma Ltd.
- Exhibit 117: NATCO Pharma Ltd. - Overview
- Exhibit 118: NATCO Pharma Ltd. - Business segments
- Exhibit 119: NATCO Pharma Ltd. - Key offerings
- Exhibit 120: NATCO Pharma Ltd. - Segment focus
- 11.15 Siemens Healthineers AG
- Exhibit 121: Siemens Healthineers AG - Overview
- Exhibit 122: Siemens Healthineers AG - Business segments
- Exhibit 123: Siemens Healthineers AG - Key news
- Exhibit 124: Siemens Healthineers AG - Key offerings
- Exhibit 125: Siemens Healthineers AG - Segment focus
- 11.16 Sun Pharmaceutical Industries Ltd.
- Exhibit 126: Sun Pharmaceutical Industries Ltd. - Overview
- Exhibit 127: Sun Pharmaceutical Industries Ltd. - Product / Service
- Exhibit 128: Sun Pharmaceutical Industries Ltd. - Key offerings
- 11.17 Zydus Lifesciences Ltd.
- Exhibit 129: Zydus Lifesciences Ltd. - Overview
- Exhibit 130: Zydus Lifesciences Ltd. - Business segments
- Exhibit 131: Zydus Lifesciences Ltd. - Key offerings
- Exhibit 132: Zydus Lifesciences Ltd. - Segment focus
12 Appendix
- 12.1 Scope of the report
- 12.2 Inclusions and exclusions checklist
- Exhibit 133: Inclusions checklist
- Exhibit 134: Exclusions checklist
- 12.3 Currency conversion rates for US$
- Exhibit 135: Currency conversion rates for US$
- 12.4 Research methodology
- Exhibit 136: Research methodology
- Exhibit 137: Validation techniques employed for market sizing
- Exhibit 138: Information sources
- 12.5 List of abbreviations
- Exhibit 139: List of abbreviations
About Us
Technavio is a leading technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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