Report Overview

North America Cancer Therapy Market – Industry Trends & Forecast Report, 2030

North America Cancer Therapy Market size was estimated at USD 3.20 billion in 2023. During the forecast period between 2024 and 2030, the North America Cancer Therapy Market size is projected to grow at a CAGR of 8.15% reaching a value of USD 5.87 billion by 2030. The North America Cancer Therapy market is experiencing substantial growth, primarily fueled by the increasing evidences of cancer on a growing scale and thereby increasing awareness is creating a growing demand for cancer therapy market. The increasing awareness campaigns by the government and NPOs are creating demand for the production of anti-cancer medicines and therapies. Ongoing advancements in medical research, genomics, and technology have led to the discovery of new cancer targets and the development of more precise and targeted therapies, enhancing treatment efficacy.

Cancer Therapy – Overview

Cancer therapy or oncology or anticancer treatment is the term used for a variety of therapies and strategies to treat cancer, stopping its growth and spread. Cancer treatment aims at destroying cancer cells, limiting their growth or relieving symptoms associated with the disease. Cancer treatments are generally divided into various categories, which are frequently used in conjunction to achieve favorable results. The selection of therapy is determined by various factors, which include the type and stage of cancer, the general condition of a patient, as well as specific properties of cancer cells.

North America Cancer Therapy Market

Growth Drivers

Increasing Cancer Incidences

With the number of cancer cases rising internationally, more patients want to be diagnosed and treated. This increasing need for cancer treatment directly leads to the market growth. The multiplicity of cancer types and subtypes necessitates a variety of treatment options. The growing incidence of different cancer types requires the creation of various therapies, which promotes innovation and market growth. With the increasing knowledge of cancer on a molecular and genetic level, personalized medicine has become more prevalent. Targeted therapies are increasingly becoming prevalent because personalized treatments are becoming ever more important. Immunotherapy has emerged as a ground-breaking treatment modality for cancer. The mounting prevalence of cancer has resulted in a growing interest among researchers to develop immunotherapeutic interventions, leading to the growth of this market segment.

Challenges

Limited availability of essential cancer medications

The unavailability of important cancer meds may lead to patient access issues. Some patients in certain regions or with specific types of cancer may suffer from disadvantages when it comes to accessing necessary treatments that increase the possibility of receiving quality care. The issue of insufficient supply of essential cancer drugs causes the treatment to be delayed or interrupted. This wait may undermine treatment effectiveness, lower survival rates and ultimately lead to poor outcomes for the patients. Restricted access can feed into global health injustices whereby differences in availability of life-saving cancer treatments between developed and developing countries result. This is an issue that calls for measures to deal with healthcare disparities globally.

Impact of Escalating Geopolitical Tensions on North America Cancer Therapy Market

Geopolitical issues like the trade war or complications in international relations affect the global pharmaceutical supply chain. The cancer therapy market is dependent on the import of raw materials, drug components and finished products. Any alterations in the supply chain could result in shortages or delayed availability of necessary cancer drugs. Geopolitical tensions affect trade policies, tariffs and economic conditions which in turn determine prices of drugs and their affordability. Tariffs and trade agreements can have an effect on the prices of cancer treatments, raising difficulties for patients, healthcare providers and payers. Geopolitical challenges may cause a shift in the regulatory settings that influence the process of new cancer therapy approvals and registrations. Timely introduction of innovative treatments to the North American market may face regulatory scrutiny or changes in trade agreements.

North America Cancer Therapy Market

Segmental Coverage

North America Cancer Therapy Market – By Therapy Type

Based on therapy type, the North America Cancer Therapy market is segmented into chemotherapy, radiation therapy, hormonal therapy, targeted therapy and others. The chemotherapy segment is expected to hold a significant share of the market during the forecast period owing to its distinct advantages in as it is a widely used form of cancer therapy that involves the use of drugs to kill or inhibit the growth of cancer cells. While it has its limitations and potential side effects, chemotherapy offers several advantages in the treatment of cancer. Chemotherapy can be used as adjuvant therapy, administered after primary treatments like surgery or radiation. This helps eliminate any remaining cancer cells and reduces the risk of cancer recurrence. Chemotherapy is used to treat a wide range of cancer types, including leukemia, lymphoma, breast cancer, lung cancer, and many others. Its versatility makes it an essential component of cancer treatment.

North America Cancer Therapy Market – By Cancer Type

Based on cancer type, the North America Cancer Therapy market is segmented into breast cancer, lung cancer, prostate cancer, blood cancer and others. During the forecast period, the breast segment is anticipated to hold a significant market share. The treatment for breast cancer often involves a combination of therapies, which may include surgery, chemotherapy, radiation therapy, hormone therapy, targeted therapy, and immunotherapy. The choice of treatment depends on various factors, including the stage of the cancer, the type of breast cancer, hormone receptor status, HER2 status, and the overall health of the patient.                                                                      

North America Cancer Therapy Market – By End Use

Based on End Use, the North America Cancer Therapy market is segmented into Hospitals, Specialty Clinics and Others. The hospitals segment is anticipated to hold a significant share of the North America Cancer Therapy market during the forecast period due to its crucial role in the delivery of cancer therapy, providing a range of services from diagnosis to treatment and supportive care. Specialized cancer centers within hospitals are equipped with advanced medical technologies and a multidisciplinary team of healthcare professionals dedicated to managing and treating cancer.

Competitive Landscape

Major players operating in the North America Cancer Therapy Market include Johnson & Johnson, AstraZeneca Plc, Merck & Co., Inc., Bayer AG, Amgen Inc., F.Hoffman-La-Roche Ltd., Eli Lilly and Company, Novartis AG and Pfizer Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In December 2023 - Doctors at Memorial Sloan Kettering Cancer Center (MSK) pioneered advances in a variety of cancer treatment for patients in 2023. The results from many cutting-edge clinical trials this year are leading to promising new treatments for brain cancer, colorectal cancer, bladder cancer, endometrial cancer, and several different blood cancers. In addition, the Food and Drug Administration (FDA) approved seven drugs in 2023 based on clinical trials in which MSK played a pivotal role.

• In October 2023 - Optiemus Infracom, an electronics and telecom manufacturing business, announced its expansion into Unmanned Systems with the introduction of new drones designed and produced in India. The business displayed its varied variety of drones during the India Mobile Congress 2023. Optiemus Infracom's products feature cutting-edge technology, such as advanced sensors, secure communication systems, and tight safety measures.

• In August 2023 – In California, a promising new oral cancer treatment has been shown to selectively destroy cancer cells while leaving healthy cells unharmed. The drug has only been studied in animals and laboratory experiments, but it appears to have no side effects. It works by disrupting the reproduction cycle of cancer cells.

Scope of the Report

By Therapy Type

• Chemotherapy

• Radiation Therapy

• Hormonal Therapy

• Targeted Therapy

• Others

By Cancer Type

• Breast Cancer

• Lung Cancer

• Prostate Cancer

• Blood Cancer

• Others

By End User

• Hospitals

• Specialty Clinics

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. North America Cancer Therapies Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing cancer incidences
         2. Building public awareness
         3. Growing collaborations with international organizations and pharmaceutical companies
         4. Supportive policies and government initiatives
      2. Restraints
         1. Limited Healthcare Infrastructure
         2. Lack of awareness
         3. Economic challenges may hinder affordability and accessibility of costly cancer treatments
      3. Opportunities
         1. Increasing clinical trials and research
         2. Collaborating with private entities and non-profit organizations
      4. Challenges
         1. Limited availability of essential cancer medications
         2. Events such as pandemics can strain healthcare resources
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. North America Cancer Therapies Market: Marketing Strategies
5. North America Cancer Therapies Market Overview
   1. Market Size & Forecast, 2019-2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Therapy Type
         1. Chemotherapy
         2. Radiation Therapy
         3. Hormonal Therapy
         4. Targeted Therapy
         5. Others
      2. By Cancer Type
         1. Breast Cancer
         2. Lung Cancer
         3. Prostate Cancer
         4. Blood Cancer
         5. Others
      3. By End User
         1. Hospitals
         2. Specialty Clinics
         3. Others
6. North America Cancer Therapies Market
   1. Market Size & Forecast, 2019-2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Therapy Type
      2. By Cancer Type
      3. By End User
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. North America Cancer Therapies Market Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tension on North America Cancer Therapies Market
9. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Johnson and Johnson
   2. AstraZeneca PLC
   3. Merck & Co. Inc.
   4. Bayer AG
   5. Amgen Inc
   6. F. Hoffmann-La Roche Ltd
   7. Eli Lilly and Company
   8. Novartis AG
   9. Pfizer Inc
   10. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1.       Qualitative Research
       1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
       1.   Secondary Research
       2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Country
    5.       Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       North America Cancer Therapies Market Segmentation    

Figure 2       North America Cancer Therapies Market Value Chain Analysis    

Figure 3       Company Market Share Analysis, 2023

Figure 4       North America Cancer Therapies Market Size, By Value (USD Billion), 2019-2030         

Figure 5       North America Cancer Therapies Market Share, By Therapy Type, By Value (USD Billion), 2019-2030

Figure 6       North America Cancer Therapies Market Share, By Cancer Type, By Value (USD Billion), 2019-2030

Figure 7       North America Cancer Therapies Market Share, By End Use, By Value (USD Billion), 2019-2030           

List of Tables

Table 1        North America Cancer Therapies Market Size, By Value (USD Billion), 2019-2030

Table 2        North America Cancer Therapies Market Size, By Therapy Type, By Value (USD Billion), 2019-2030

Table 3        North America Cancer Therapies Market Size, By Cancer Type, By Value (USD Billion), 2019-2030

Table 4        North America Cancer Therapies Market Size, By End Use, By Value (USD Billion), 2019-2030

Table 31      Johnson and Johnson Company Overview                        

Table 32      Johnson and Johnson Financial Overview                         

Table 33      AstraZeneca PLC Company Overview                     

Table 34      AstraZeneca PLC Financial Overview                      

Table 35      Merck & Co. Inc. Company Overview                     

Table 36      Merck & Co. Inc. Financial Overview                      

Table 37      Bayer AG Company Overview                      

Table 38      Bayer AG Financial Overview                       

Table 39      Amgen Inc Company Overview                    

Table 40      Amgen Inc Financial Overview                     

Table 41      F. Hoffmann-La Roche Ltd Company Overview                           

Table 42      F. Hoffmann-La Roche Ltd Financial Overview                  

Table 43      Eli Lilly and Company Company Overview                        

Table 44      Eli Lilly and Company Financial Overview                         

Table 45      Novartis AG Company Overview                   

Table 46      Novartis AG Financial Overview                    

Table 47      Pfizer Inc Company Overview                      

Table 48      Pfizer Inc Financial Overview                       

Table 49      Bristol Myers Squibb Company Company Overview                    

Table 50      Bristol Myers Squibb Company Financial Overview