Global Oncologists Market Report 2024: Precision Medicine and Therapeutic Advancements Drive Expansion to $22.72 Billion by 2028

Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "Oncologists Global Market Report 2024" report has been added to's offering.

The global oncologists market has grown steadily in recent years. It will grow from $19.35 billion in 2023 to $19.19 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth observed in the historical period can be attributed to factors such as the increasing incidence of cancer, advancements in therapeutic approaches, a growing aging population, development of healthcare infrastructure, and the implementation of awareness and early detection programs.

The oncologists market is expected to see steady growth in the next few years. It will grow to $22.72 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be attributed to factors such as the emergence of precision medicine and personalized therapies, advancements in therapeutic modalities, global collaboration in oncology, shifts in epidemiology and new challenges, as well as influences from healthcare policy and economic factors. Major trends in this period include advancements in immunotherapy, the integration of precision medicine, expansion of telemedicine, a shift towards data-driven decision-making, the adoption of collaborative care models, and an increased focus on patient-centric care.

The oncologists' market is anticipated to experience growth due to the increasing prevalence of cancer. According to the 2021 American Cancer Society report, there were 1.8 million new cancer cases diagnosed in 2020, reflecting a significant increase from previous years. The National Cancer Institute reported a 43% rise in new cancer cases to 1,806,590 in September 2020. Hence, the growing prevalence of cancer is a driving force behind the oncologists' market.

The growth of the aging population is expected to be a significant factor supporting the expansion of the oncologists' market. According to the World Health Organization, by 2030, 1 in 6 people globally will be aged 60 or above. The number of elderly individuals reached 1.4 billion in 2020, and by 2050, it is projected to more than double, reaching 2.1 billion. Therefore, the increasing size of the aging population is expected to have a positive impact on the oncologists' market in the forecast period.

A key trend in the oncologists' market is the focus on new innovations, with major companies developing digital solutions to enhance their positions. For instance, in December 2021, The Roche Group introduced its latest digital solution, the 'Navify Oncology Hub,' designed to simplify clinical workflows and improve decision support for oncology care teams and oncologists. This solution aids in aggregating and organizing patient data across various IT systems within an institution.

Major companies in the oncologists' market are also establishing new collaborative networks to advance research and development efforts. In September 2023, Amgen launched the 'Amgen Partners of Choice' network, bringing together its oncology research and development experts with clinical leaders at eight global research centers. The network, part of Amgen's mission to enhance care through partnerships, fosters academic collaboration to advance innovative treatment options for patients with significant unmet needs.

In April 2021, Siemens Healthineers AG acquired Varian Medical Systems, Inc. for an undisclosed amount, enhancing resources to support cancer patients across major clinical pathways. The acquisition aims to address the rising rates of cancer by providing personalized, data-driven diagnosis and cancer care. Varian Medical Systems, Inc., a US-based company, is a provider of radiation oncology software and treatments.

North America was the largest region in the oncologists market in 2023. The regions covered in the oncologists market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the oncologists market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Report Scope

Markets Covered:

  • 1) By Cancer Diagnostics and Treatment: Cancer Diagnostics; Cancer Treatment
  • 2) By Indication: Lungs Cancer; Colorectal Cancer; Breast Cancer; Liver Cancer; Bladder Cancer; Head and Neck Cancer; Prostate Cancer; Other Indications
  • 3) By End Use: Hospitals; Diagnostic Laboratories; Diagnostic Imaging Centers; Specialty Clinics; Academia; Other End Uses

Key Companies Mentioned: Abramson Cancer Center; MD Anderson Cancer Center of the University of Texas; Lilavati Hospital & Research Centre; Mount Elizabeth Hospital; Mount Miriam Cancer Hospital

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

A selection of companies mentioned in this report includes:

  • Abramson Cancer Center
  • MD Anderson Cancer Center of the University of Texas
  • Lilavati Hospital & Research Centre
  • Mount Elizabeth Hospital
  • Mount Miriam Cancer Hospital
  • Charite - Universitatsmedizin Berlin
  • General Electric Healthcare
  • F. Hoffmann-La Roche AG
  • Pfizer Inc.
  • Bayer AG
  • Merck & Co. Inc.
  • Aegerion Pharmaceuticals Inc.
  • AbbVie Inc.
  • Amgen Inc.
  • Takeda Pharmaceuticals USA Inc.
  • Becton Dickinson and Company
  • Cook Medical LLC
  • Terumo Corporation
  • AngioDynamics Inc.
  • Thermo Fisher Scientific Inc.
  • Illumina Inc.
  • Bristol-Myers Squibb Company
  • AstraZeneca plc
  • Novartis AG
  • Eli Lilly and Company
  • Celgene Corporation
  • Gilead Sciences Inc.
  • Biogen Inc.
  • Vertex Pharmaceuticals Incorporated
  • Regeneron Pharmaceuticals Inc.
  • Alexion Pharmaceuticals Inc.
  • Incyte Corporation
  • Seattle Genetics Inc.

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