North America Oncology Drugs Market Insights Forecasts to 2033

• The North America Oncology Drugs Market Size was valued at USD 10.13 Billion in 2023.
• The Market is Growing at a CAGR of 10.38% from 2023 to 2033
• The North America Oncology Drugs Market Size is Expected to Reach USD 27.20 Billion by 2033

The North America Oncology Drugs Market Size is Anticipated to Reach USD 27.20 Billion by 2033, Growing at a CAGR of 10.38% from 2023 to 2033.

Market Overview

Oncology drugs refer to pharmaceuticals that are specifically designed to diagnose, treat, and manage different types of cancer. These drugs target cancerous cells or disrupt processes involved in cancer growth and spread. It covers a wide range of therapeutic approaches, from traditional chemotherapy to more targeted therapies such as immunotherapy and precision medicine. Cancer, which is defined by the uncontrolled growth and spread of abnormal cells, presents significant challenges to global healthcare systems, necessitating the ongoing evolution of therapeutic interventions. Traditional chemotherapy drugs, such as alkylating agents, antimetabolites, and mitotic inhibitors, function by interfering with cell division. They target rapidly dividing cells, a hallmark of cancer cells, and disrupt DNA synthesis or mitosis, resulting in cell death. Several key factors drive the North American oncology drugs market, including advances in cancer research and technology, rising cancer prevalence, rising demand for personalized medicine, and expanding early detection and treatment initiatives. Furthermore, strong healthcare infrastructure, increased pharmaceutical company R&D investments, and supportive government regulations all help to drive North America oncology drugs market growth.

Report Coverage

This research report categorizes for the North America oncology drugs market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America oncology drugs market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America oncology drugs market.

Driving Factors

Cancer is considered one of the leading causes of death. For example, the Centers for Disease Control and Prevention (CDC) reports that cancer is the second leading cause of death in the United States. Tobacco smoking, increased exposure to ultraviolet radiation, rising pollution levels, and changing diet patterns, among other things, are all major contributors to the condition's increasing prevalence. Cancer treatment is evolving at a rapid pace. A new class of innovative treatments, often in combination with other new or existing medications, is emerging from the research and development pipeline. Many pharmaceutical companies are investing in the research of novel drugs for the treatment of cancer.

Restraining Factors

The adverse effects of oncology drugs have a negative impact on market growth. In addition, stringent government regulations, high drug costs, and patent expiration are among the other factors impeding market growth during the forecast period.

Market Segmentation

The North America oncology drugs market share is classified into drugs and therapy.

• The targeted drugs segment is expected to hold the largest market share through the forecast period.

The North America oncology drugs market is segmented by drugs into class, cytotoxic drugs, targeted drugs, and hormonal drugs. Among these, the targeted drugs segment is expected to hold the largest market share through the forecast period. Targeted drugs attacking cancer cells while causing minimal damage to healthy cells, may provide patients with more effective and less toxic treatments. The segment's growth is being driven by advances in targeted therapy research and development, as well as increased adoption by healthcare providers looking for more personalized cancer treatment options.

• The chemotherapy segment is expected to dominate the North America oncology drugs market during the forecast period.       

Based on the therapy, the North America oncology drugs market is divided into chemotherapy, targeted therapy, and immunotherapy. Among these, the chemotherapy segment is expected to dominate the North America oncology drugs market during the forecast period. Chemotherapy, which uses powerful drugs to kill cancer cells, is a primary treatment option for many types of cancer. Its widespread use, proven efficacy, and long history contribute to its dominance in the North American oncology drug market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America oncology drugs market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Pfizer Inc.
• Merck & Co., Inc.
• Bristol Myers Squibb Company
• Novartis AG
• Roche Holding AG
• Johnson & Johnson
• AbbVie Inc.
• Eli Lilly and Company
• AstraZeneca PLC
• Amgen Inc.
• Gilead Sciences, Inc.
• Celgene Corporation
• Takeda Pharmaceutical Company Limited
• Biogen Inc.
• Sanofi S.A.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In December 2022, The FDA approved Genetech's Lunsumio (a monoclonal antibody) for the treatment of refractory follicular lymphoma patients who have received at least two lines of systemic therapy.

Market Segment

This study forecasts revenue at North America, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the North America oncology drugs market based on the below-mentioned segments:

North America Oncology Drugs Market, By Drugs

• Class
• Cytotoxic Drugs
• Targeted Drugs
• Hormonal Drugs

North America Oncology Drugs Market, By Therapy

• Chemotherapy
• Targeted Therapy
• Immunotherapy