What is Behind the Robust Growth in the Global Oncology Market?

Globally, oncology is the largest disease area of pharmaceutical spend by USD sales, worth $188bn in 2021, just ahead of Endocrine & Metabolic at $172bn. Oncology is not only set to continue as the largest therapy area during the next 5 years (with a value of $375bn by 2027), but is also expected to be the fastest growing, at a compound annual growth rate (CAGR) of 12.1% (compared to a CAGR of 4.3% for the total pharmaceutical market during this period). This is in part due to epidemiological factors, with ageing population demographics in high-income countries, as well as generally decreasing rates of other causes of death such as cardiovascular disease. The growth of oncology is also due to cancer being a key area of R&D focus, and the launch of innovative therapies. This article will highlight the main growth drivers of the oncology market.

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