China Oncology Drugs Market Size, Growth Forecast | 2031

Report Description

The China oncology drugs market size was USD 18.12 Billion in 2022 and is likely to reach USD 67.32 Billion by 2031, expanding at a CAGR of 15.7% during 2023–2031. Cancer is a disease that is caused by uncontrolled and abnormal cell growth, which invades or spreads to the other body parts and results in malignant tumor. 

Oncology refers to the branch of medical science that deals with the study of cancer and its treatment and diagnosis options. Cancer treatment involves various methods such as surgery, drugs, and radiation. Oncology drugs are deployed and implemented with chemotherapy, which has a cytotoxic effect on the body. Oncology drugs destroy the cancerous cells and provide the appropriate cancer treatment.

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Market Trends, Drivers, Restraints, and Opportunities

• Rising prevalence of cancer and awareness about cancer treatment primarily drives the market growth.

• According to the recent epidemiological data, 2.2 million cancer cases were reported in China and 1.6 million cases resulted in mortality. Thus, the medical science industry in China has begun extensive R&D to develop new drugs to treat the disease, which in turn, is estimated to propel the market.

• The presence of advanced therapies such as biological and targeted drug therapies are estimated to fuel the market growth.

• High cost involved in cancer treatment and threat of failure of the medicines and drugs can hamper the market growth.

• The shift to sedentary lifestyle of the people and use of tobacco and smoking that causes cancer has significantly increased the demand for oncology drugs in China.

• The developments in the medical research has resulted in the introduction of advanced drugs that provide better effectivity and efficiency in the treatment of cancer, which further accelerates the growth of the market.

• Rising geriatric population is projected to provide lucrative opportunities for market growth.

Scope of China Oncology Drugs Market Report

The report on the China oncology drugs market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

China Oncology Drugs Market Segment Insights

Immunotherapy segment is projected to emerge as a lucrative segment

Based on drug class types, the market can be segmented into chemotherapy, targeted therapy, immunotherapy, and hormonal therapy. The immunotherapy segment is projected to expand at a rapid CAGR during the forecast period owing to the high demand for immunotherapeutic drugs.

Immunotherapy is a type of cancer treatment that targets the immune system of the body and helps in fighting the cancer developing cells. It refers to biological therapy that uses various oncology drugs such as ipilimumab, nivolumab, and others.

Chemotherapy is also a preferred choice for cancer treatment and the segment is projected to grow at a substantial CAGR during the forecast period. Chemotherapy uses chemical agents for the treatment of cancer and the drugs associated with chemotherapy can be used alone or in a combination for the treatment of cancer.

The targeted therapy segment is expected to expand at a significant rate owing to the benefits and efficiency of the treatment. It targets the proteins that control the growth of cancer cells. This type of therapy has laid the foundation for precision medication. Small molecule drugs and monoclonal antibodies are the two types of targeted therapies.

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High prevalence of lung cancer in China propels the market growth

On the basis of indications, the market can be classified as blood cancer, breast cancer, gastrointestinal cancer, prostate cancer, lung cancer, skin cancer, ovarian cancer, cervical cancer, kidney cancer, and others.

In China, the number of lung cancer diseases has increased extensively, which in turn, has rose the R&D activities by key players in the region toward the development of effective oncology drugs. The adoption of western lifestyle and habits of tobacco consumption and smoking have accelerated the prevalence of lung cancer in China.  

Lung cancer treatments can vary, but mostly include chemotherapy, radiation therapy, and targeted therapy. This type of cancer is usually diagnosed in the lungs and has a possibility of spreading to lymph nodes or other organs in the body. Small cell lung cancer and non-small cell lung cancer are the two types of lung cancers that are classified depending on how small the cells appear under a microscope.

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