Oncology Market Size, Share, Growth, Trends, and Global Industry Analysis: By Drug Class (Antimetabolites, Antineoplastics, XPO1 Inhibitor, Mitotic Inhibitors, Biomarker testing, Mult kinase Inhibitors), By Disease Indications (Lung Cancer, Breast Cancer, Prostate Cancer, Cervical Cancer, Colorectal Cancer, Acute Myeloid Leukaemia, Others), By Treatment Options (Surgery, Chemotherapy, Radiation Therapy, Bone Marrow Transplant, Immunotherapy, Hormone Therapy, Targeted Drug Therapy, Cryoablation, Radiofrequency Ablation), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Region Forecast 2020-2031

Oncology Market size was valued at US$ 201,500 million in 2024 and is expected to reach US$ 323,000 million by 2031, growing at a significant CAGR of 7.1% from 2025-2031. Moreover, the U.S. Oncology Market is projected to grow significantly, reaching an estimated value of US$ 145,000 million by 2031. The market is at the intersection of pressing clinical demand and cutting-edge science. As cancer remains one of the world's most intractable public health enigmas, the need for early detection, personalized therapies, and synchronized care solutions continues to grow. From CAR-T cell therapies and monoclonal antibodies to molecular diagnostics and artificially intelligent treatment strategies, oncology no longer resides solely within hospital corridors it's a worldwide frontier of innovation. Governments, startups, and pharma multinationals are all investing big, redefining detection, treatment, and prevention of cancer. As growing incidence is fuelled by population aging and risk factors related to lifestyle, market size captures an underlying trend toward more personal, proactive, and value-based oncology care in a large patient population.

The market now is its record rate of innovation with a changing care ecosystem. Conventional chemotherapy is being increasingly replaced with targeted biologics, immunotherapies, and companion diagnostics, each tumour genomics- and patient profile-specific. Meanwhile, digital health platforms are facilitating longitudinal tracking of patient outcomes, taking oncological treatment home. Cross-industry collaborations biotech companies partnering with AI developers, hospitals with pharma for co-development of trials are also being witnessed in the market to accelerate breakthrough pipelines. But access inequities and regulatory intricacies are still major issues. However, oncology is not just expanding smarter, more rapidly, and more responsive to the intricate biological and societal dynamics that will define the future of cancer care.

Facts & Figures

• Cancer occurrence is still on the increase in all parts of the globe, with more than 20 million new cancer cases forecasted each year by 2025, based on WHO estimates due to population and aging growth, urbanization, and life style changes.
• Breast cancer remains the most common cancer across the world, accounting for 1 in 8 cancers worldwide, while lung cancer remains the leading cause of cancer deaths, accounting for nearly 1 in 5 of all cancer-related deaths.
• Early diagnosis remains a problem, with up to 60% of cancers in low- and middle-income countries still being diagnosed late, emphasizing the need for low-cost screening infrastructure and awareness campaigns.
• Immuno-oncology therapies currently occupy more than 40% of the world's oncology R&D pipelines, an indication of the sector's redirection of interest to immune-based treatment platforms in solid tumors and blood cancers.

Key Developments:

• In June 2025, Onco-Innovations Limited, through its subsidiary Inka Health Corp., announced the formation of a global AI-oncology consortium, with the mission to spur oncology research with advanced data science. The initiative has been formed to bring together AI in therapeutic discovery and clinical applications to advance biotech, pharma, and computational science community collaboration.
• In June 2025, Glenmark Pharmaceuticals received DCGI approval to market Zanubrutinib (Brukinsa®) in India. The therapy, a second-generation BTK inhibitor, treats B-cell malignancies, further expanding Glenmark's hematology-oncology business in the domestic market.
• In April 2025, Amneal Pharmaceuticals and Shilpa Medicare introduced BORUZU™ (bortezomib injection) in the United States a ready-to-use convenient proteasome inhibitor to treat multiple myeloma and mantle cell lymphoma, offering a more streamlined option compared to reconstitution-based therapies.

Oncology Market Segmentation:

Based on the drug class:

• Antimetabolites
• Antineoplastics
• XPO1 inhibitors
• Mitotic Inhibitors
• Biomarkers Testing
• Mult kinase Inhibitors

Antineoplastics are the fundamental class of oncology drugs and continue to be the pharma oncology franchise back bone. Antineoplastics act by addressing the proliferation and growth of cancer cells, typically through cytotoxicity. Despite the revolution with targeted and immunotherapies, antineoplastics continue to be the standard of first-line treatment for solid and hematologic cancers. Their proven effectiveness, wide availability, and incorporation into routine regimens render them pertinent, particularly in low- and middle-income settings. Furthermore, advances such as nanoparticle delivery and combination dosing strategies are mitigating toxicity and maximizing response rates. These developments are ensuring antineoplastics are not only old drugs, but also increasingly advanced components of modern multi-modal cancer care.

Based on the disease indication:

• Lung Cancer
• Breast Cancer
• Prostate Cancer
• Cervical Cancer
• Colorectal Cancer
• Acute Myeloid Leukaemia
• Others

Lung cancer is the most clinically and economically important disease segment in oncology for its high mortality and incidence rates worldwide. It is the cause of the vast majority of all cancer-related deaths worldwide, owing mainly to delayed diagnosis and aggressive growth. NSCLC accounts for the greatest percentage of cases, and recent advancements in biomarker testing have enabled more personalized treatment regimens. Targeted therapy and immuno-oncology are now first-line options for specific genetic mutations like EGFR and ALK. Ongoing screening activities, especially in smokers and high-risk populations, are expanding the pool of discovered patients. Each of these factors taken together transforms lung cancer into not only an important area of research but also quickly changing hub of oncology research.

Based on the treatment Options:

• Surgery
• Chemotherapy
• Radiation Therapy
• Bone Marrow Transplant
• Immunotherapy
• Hormone Therapy
• Targeted Drug Therapy
• Cryoablation
• Radiofrequency Ablation

Immunotherapy has transformed the course of cancer therapy by capitalizing on the patient's immune system to detect and    target cancer cells. Among all the treatment modalities, it has seen the most rise in practice, particularly in melanoma, lung, and bladder cancers. PD-1, PD-L1, and CTLA-4 checkpoint inhibitors are being used more and more in early-stage as well as advanced-stage disease, and in certain cases even replacing chemotherapy. Why immunotherapy is groundbreaking is that it can induce long-term responses and lower rates of relapse in some patients. Its use in combination regimens for chemotherapy or radiation also is expanding therapeutic reach. With regulatory agencies accelerating approvals and R&D pipelines gaining equal value from immune targets, immunotherapy is at the forefront of cancer therapy today.

Based on the distribution channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacy
• Others

Hospital pharmacies remain the preferred distribution site for oncology medications due to their command center location for dispensing expensive, high-complexity therapy. The majority of the chemotherapy, biologic therapies, and injectable immunotherapies must be monitored, managed, and sometimes inpatient-treated demanding hospital-based dispensing. Hospital settings offer compliance with protocols, immediate medical support, and coordinated care, especially in the treatment of patients receiving multi-modal therapy. Hospitals are research facilities and trial sites, again making them first-stop targets for novel therapy. With increased personalized and evidence-based oncology treatment, hospital pharmacies no longer operate independently as dispensers—but ultimately active collaborators in clinical decision-making, helping with inventory, dosing, side-effect profiles, and compliance in real-time.