Oncology Drugs - Europe | Statista Market Forecast

The Oncology Drugs market in Europe is estimated to witness a significant increase in revenue, projected to reach US$34.26bn by 2024.
This growth is expected to continue at an annual growth rate of 6.69% from 2024 to 2029, resulting in a market volume of US$47.36bn by 2029.
When compared to other countries worldwide, United States is anticipated to generate the highest revenue, with US$103.90bn in 2024.
In France, the demand for innovative oncology drugs is increasing due to the government's focus on improving access to cutting-edge treatment options.

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 demand for Oncology Drugs in Europe has been steadily increasing in recent years.

Customer preferences: The increasing incidence of cancer, coupled with advancements in medical research and technology, has led to a growing demand for Oncology Drugs in Europe. Patients are seeking more targeted and personalized treatments that can improve their quality of life and increase their chances of survival. Additionally, the rising awareness of cancer and its impact on society has led to an increased willingness to invest in cancer treatment.

Trends in the market: The Oncology Drugs market in Europe is characterized by a high level of competition and innovation. Pharmaceutical companies are investing heavily in research and development to bring new and effective treatments to market. The trend towards personalized medicine is also driving growth in the market, as patients are increasingly seeking treatments that are tailored to their specific needs. In addition, the increasing prevalence of cancer and the aging population are contributing to the growth of the market.

Local special circumstances: Each country in Europe has its own unique healthcare system, which affects the way Oncology Drugs are marketed and sold. In some countries, the government plays a larger role in regulating the market and controlling prices, while in others, the market is more open and competitive. Additionally, cultural factors can also influence the demand for Oncology Drugs, as attitudes towards cancer and its treatment can vary widely across different countries and regions.

Underlying macroeconomic factors: The overall economic environment in Europe is also an important factor in the growth of the Oncology Drugs market. The increasing prevalence of cancer and the aging population are putting pressure on healthcare systems to provide effective and affordable treatments. At the same time, the high cost of developing and bringing new drugs to market is driving up prices, which can be a barrier to access for some patients. Additionally, regulatory changes and political uncertainty can also have an impact on the market, as companies must navigate changing rules and regulations in order to bring their products to market.

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.