Article
What is Behind the Robust Growth in the Global Oncology Market?
IQVIA Oncology Link
Apr 14, 2023

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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