India Oncology Market Analysis - Size and Forecast 2025-2029

India Oncology Market Size 2025-2029 

The india oncology market size is forecast to increase by USD 2.02 billion at a CAGR of 19.8% between 2024 and 2029.

• The market presents significant growth opportunities for global investors and businesses due to the increasing prevalence of cancer and the rising research and development (R&D) activities in the country. According to various reports, the burden of cancer in India is projected to increase, with an estimated 1.6 million new cases and 700,000 deaths by 2025. This trend is driven by factors such as population growth, urbanization, and lifestyle changes. In response to this growing demand, there is a surge in R&D activities aimed at developing advanced diagnostic devices and innovative treatments. For instance, Indian institutions and startups are investing in research and development of affordable cancer diagnostics, making early detection more accessible and affordable.
• However, the high cost of cancer treatment remains a significant challenge, limiting access to affordable care for a large population. Therefore, companies seeking to capitalize on the market opportunities in India must focus on developing cost-effective solutions while ensuring quality and efficacy. Additionally, partnerships with local institutions and governments can help in navigating regulatory requirements and gaining market acceptance. Overall, the market offers significant growth potential for businesses, driven by the increasing prevalence of cancer and the rising R&D activities, while presenting challenges related to affordability and regulatory compliance.

What will be the size of the India Oncology Market during the forecast period?

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• The oncology market is experiencing significant growth due to the increasing prevalence of chronic diseases, particularly cancer. Early diagnostics and targeted therapies are driving innovation in the medical devices industry, enabling more effective oncology treatments. According to recent research, the number of cancer cases is projected to increase, necessitating the development of new therapeutics, including innovative drugs and immunotherapies. Clinical trials are a crucial component of this process, with radiation therapy and hormonal therapy also playing essential roles. The adoption of personalized medicine and non-invasive diagnostic tools is transforming the landscape of oncology treatment.
• Alcohol and tobacco use remain significant risk factors, further fueling market expansion. The insurance industry is also playing a key role in facilitating access to oncology diagnostics and cancer diagnostic tests. Overall, the oncology market is characterized by continuous evolution and advancement, with a focus on improving patient outcomes and quality of life.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

• Type
  • Cancer treatment
  • Cancer diagnostics
• End-user
  • Hospitals
  • Diagnostic laboratories
  • Diagnostic imaging centers
  • Others
• Geography
  • North America
  • Europe
  • Middle East and Africa
  • APAC
    • India
  • South America
  • Rest of World (ROW)

By Type Insights

The cancer treatment segment is estimated to witness significant growth during the forecast period.

Cancer treatment has long relied on radiotherapy and chemotherapy, both of which come with significant side effects. Anemia is a common affliction for cancer patients undergoing these treatments. However, advancements in therapeutic agents have transformed cancer care. Monoclonal antibodies (mAbs), such as trastuzumab, have been instrumental in this evolution. Trastuzumab, which targets the human epidermal growth factor receptor-2 (HER2), is a mAb that revolutionized breast cancer treatment. HER2 positivity in breast cancer can now be addressed with trastuzumab in combination with chemotherapy, significantly improving survival rates in metastatic and early-stage breast cancer. The medical devices industry has also contributed to cancer care with non-invasive diagnostic tools like CT scans and MRI machines.

Early screening and detection of cancer, especially for diseases like colorectal and lung cancer, have become increasingly important. Immunotherapies, such as checkpoint inhibitors, are emerging as promising alternatives to traditional chemotherapy. These therapies, which work by enhancing the body's immune response against cancer cells, are particularly effective for treating indications like melanoma and non-small cell lung cancer. Personalized medicine, fueled by innovative drugs and AI-driven diagnostics, is another trend shaping the oncology market. Targeted therapies, which are designed to attack specific cancer cells based on their genetic makeup, are becoming increasingly common. Hormone therapies, such as those used to treat prostate and breast cancer, continue to be a mainstay in cancer treatment.

Collaborations between research institutions, pharmaceutical companies, and diagnostic centers, like the Aichi Cancer Center, are crucial in driving innovation in oncology solutions. The prevalence of cancer, particularly chronic diseases like leukemias and lymphomas, necessitates continuous research and development in cancer drugs and diagnostics. Cancer diagnostic tests, such as those for Hodgkin's lymphoma and carcinomas, play a vital role in early detection and treatment. Medications, including hormonal therapies and injectable dosage forms, are essential components of oncology treatment. Clinical trials, immunotherapy, and radiation therapy are all integral parts of managing various cancer indications. The oncology market is dynamic and evolving, with a focus on improving patient outcomes and quality of life.

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The Cancer treatment segment was valued at  USD 638.10 million in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of India Oncology Market?

• Increased prevalence of cancer is the key driver of the market. 

• Cancer is a significant health concern in India, with poor dietary habits, sedentary lifestyles, excessive alcohol and tobacco consumption, ionizing radiation exposure, chemical mutagens, infectious microorganisms, and environmental pollutants contributing to its prevalence. According to recent research, lung, stomach, kidneys, head, neck, and larynx cancers are among the most common types, accounting for a significant proportion of cases. Tobacco-related cancers make up 35% to 50% of all male cancers and 17% of all female cancers. The mortality rate for men is higher than for women. The number of cancer cases in India has seen a notable increase in recent years, with an estimated 14,61,427 cases in 2022 and 14,96,972 cases in 2023, as per the National Cancer Registry Program of the Indian Council of Medical Research (ICMR).
• The market is driven by the growing burden of cancer and the increasing demand for advanced cancer treatments. Despite the challenges, the market presents significant opportunities for companies due to the large patient population and the government's initiatives to improve cancer care.

What are the market trends shaping the India Oncology Market?

• Rise in research and development for developing diagnostic devices is the upcoming trend in the market. 

• In India, oncology market participants are investing substantially in research and development to create advanced diagnostic devices for cancer detection and treatment. One innovative approach is the application of gold nanoparticles in cancer diagnostics. This technique combines a therapeutic agent, a diagnostic agent, and gold nanoparticles. The resulting combination facilitates effective monitoring of target tumors and offers valuable insights into the impact of cancer drugs on tumors.
• This strategy will foster the development of novel theragnostic combined therapies, leading to increased demand and utilization of cancer diagnostic devices. This investment in research and development is a strategic move to address the growing need for effective cancer treatments and diagnostics.

What challenges does India Oncology Market face during the growth?

• High cost of products for treatment of cancer is a key challenge affecting the market growth. 

• The market faces a substantial challenge due to the high cost of cancer treatment, which is a significant barrier for many patients. The affluent population pays a substantial amount for cancer diagnosis and treatment, even in the early stages, leading to increased costs that can be prohibitive for those with limited financial resources. The severity of cancer necessitates individualized treatment plans, which often require multiple sequential or combination therapies. This increases the overall cost of treatment, making it inaccessible to a significant portion of the population.
• Despite these challenges, the market continues to grow due to factors such as increasing awareness, improving healthcare infrastructure, and government initiatives to make cancer treatments more affordable. However, the high cost remains a significant concern and requires innovative solutions to ensure that all patients have access to the care they need.

Exclusive India Oncology Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• 3M Co.
• Abbott Laboratories
• Alkem Laboratories Ltd.
• AstraZeneca Plc
• Baxter International Inc.
• Bristol Myers Squibb Co.
• Cipla Inc.
• F. Hoffmann La Roche Ltd.
• GE Healthcare Technologies Inc.
• Glenmark Pharmaceuticals Ltd.
• Lupin Ltd.
• Medtronic Plc
• Merck and Co. Inc.
• Natco Pharma Ltd.
• Novartis AG
• Poly Medicure Ltd.
• Siemens Healthineers AG
• Sun Pharmaceutical Industries Ltd.
• Torrent Pharmaceuticals Ltd.
• Zydus Lifesciences Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market is witnessing significant growth due to the increasing prevalence of various types of cancers and the rising awareness of early screening and diagnosis. The market encompasses a range of offerings, including chemotherapy agents, hormone therapies, oncology diagnostics, and emerging therapies such as immunotherapies and targeted therapies. The tobacco and alcohol industries continue to pose a significant threat to public health, contributing to the high prevalence of cancer cases. According to estimates, cancer is the second leading cause of death in India, with colorectal and lung cancers being the most common types in the lungs cancer segment and carcinomas segment, respectively.

Sarcomas and lymphomas, including Hodgkin's lymphoma, also pose a challenge in the Indian healthcare landscape. The insurance industry plays a crucial role in the oncology market, as many cancer treatments can be costly. The market for cancer drugs and medications is expanding, with a focus on innovative drugs and personalized medicine. The medical devices industry is also making strides in the development of non-invasive diagnostic tools, enabling earlier and more accurate diagnoses. Collaborations between domestic and international players are driving growth in the Indian oncology market. Traditional chemotherapy continues to be a mainstay of treatment, but targeted therapies and immunotherapies are gaining popularity due to their improved efficacy and reduced side effects.

Radiation therapy and surgery are also essential components of oncology treatment. The emergence of artificial intelligence (AI) in oncology solutions is revolutionizing the way cancer is managed. AI-powered diagnostic tests and therapeutics are enabling more precise and effective treatments, particularly in the areas of immuno-oncology and targeted therapy. The Indian government and various NGOs are increasing efforts to raise awareness of cancer and promote early screening and diagnosis. Hormone therapies, such as those used in the treatment of prostate cancer, are also gaining traction. The market for cancer therapeutics is expected to continue growing, driven by the increasing burden of chronic diseases and the evolving treatment landscape.

In the oncology diagnostics segment, liquid dosage forms and injectable dosage forms are gaining popularity due to their ease of administration and improved patient compliance. Clinical trials are underway for various cancer drugs and therapies, offering hope for better treatment options in the future. In conclusion, the market is a dynamic and rapidly evolving landscape, driven by the rising prevalence of cancer, increasing awareness of early screening and diagnosis, and advancements in treatment options. The market encompasses a range of offerings, from chemotherapy agents and hormone therapies to emerging therapies and diagnostic tools. The role of the insurance industry, collaborations between domestic and international players, and the government's efforts to raise awareness and promote early diagnosis are key factors shaping the market's growth.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2025 and 2029
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across India
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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