Oncology Drugs - China | Statista Market Forecast

The Oncology Drugs market in China is expected to generate revenue of US$21.02bn in 2024.
This figure is projected to increase at an annual growth rate of 7.35% between 2024 and 2029, resulting in a market volume of US$29.97bn by 2029.
When compared globally, United States is forecasted to generate the highest revenue of US$103.90bn in 2024.
China's rapidly aging population and increasing cancer rates make it a promising market for oncology drugs.

Definition:
The Oncology Drugs market covers drugs to treat cancer, including chemotherapy and immunotherapy. These therapies are used for solid tumors and hematologic cancer. The medications in this market are mainly physician-administered drugs.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Bristol-Myers Squibb, Roche, Merck & Co, Novartis, Johnson & Johnson

Treatment for different types of cancer, including skin cancer, leukemia, lymphoma, and multiple myeloma
Chemotherapeutic agents
Immuno-oncology drugs
Oncology orphan drugs

Radiation therapy
Medical devices

The Oncology Drugs market in China has been experiencing significant growth in recent years.

Customer preferences: As the population of China continues to age, there has been an increase in the prevalence of cancer. This has led to a growing demand for oncology drugs in the country. Additionally, Chinese consumers are becoming more health-conscious and are increasingly willing to spend money on healthcare products.

Trends in the market: One of the major trends in the Oncology Drugs market in China is the increasing number of partnerships and collaborations between domestic and international pharmaceutical companies. This has led to a greater availability of innovative drugs in the market. Another trend is the growing focus on precision medicine, which involves tailoring treatment to the specific genetic makeup of a patient's cancer.

Local special circumstances: China's healthcare market is heavily regulated by the government, which can make it difficult for foreign companies to enter the market. Additionally, there is a lack of transparency in the regulatory process, which can make it difficult for companies to navigate.

Underlying macroeconomic factors: China's economy has been growing rapidly in recent years, which has led to an increase in disposable income among consumers. This has made it easier for consumers to afford expensive oncology drugs. Additionally, the Chinese government has been investing heavily in healthcare infrastructure, which has led to an increase in the availability of healthcare services across the country.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Cancer is one of the leading causes of death worldwide, with lung cancer alone ranked the sixth leading cause of death in 2021. Cancer, also known as malignant tumors and neoplasms, is the result of interactions between personal genetic factors and external agents causing abnormal transformations of cells into tumors over time. As the global population has increased in age, the incidence of new cancer cases has also risen, contributing to a higher number of deaths each year. In 2022, nearly 10 million deaths were caused by cancer worldwide- a number which is expected to reach over 15 million by 2040.