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The India oncology market size is forecast to increase by USD 947.84 million, at a CAGR of 13.45% between 2022 and 2027. The market's expansion hinges on various factors, notably the heightened incidence of cancer, the imperative for cost reduction in drug exploration and advancement, and the escalating call for precision medicine. These facets collectively drive the trajectory of the market, fostering advancements in oncology diagnostics and treatments. With a growing emphasis on precision medicine, there's a parallel demand for innovative approaches that target specific molecular characteristics. This shift not only reflects the evolving landscape of healthcare but also underscores the urgency for streamlined drug discovery processes. As tumor cases continue to rise, the market responds by innovating cost-effective solutions while meeting the increasing demand for personalized therapeutic interventions.
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This report on market extensively covers market segmentation by type (cancer treatment and cancer diagnostics) and end-user (hospitals, diagnostic laboratories, diagnostic imaging centers, and others). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The Oncology Market in India is driven by several factors, including the rising prevalence of cancer due to factors such as alcohol and tobacco use. Innovative drugs and therapeutics in the biopharmaceutical industry are shaping oncology treatment trends, with a shift towards immunotherapy and targeted therapy. Challenges lie in improving early diagnostics and access to personalized medicine while navigating complexities in clinical trials and regulatory compliance. The Insurance industry and initiatives like the Global Action Plan play a vital role in addressing these challenges and fostering advancements in tumor care. Our researchers analyzed the data with 2022 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.
The increased prevalence of cancer is notably driving the market growth. Lung cancer, stomach cancer, kidney cancer, head cancer, and laryngeal cancer are caused by improper dietary habits, a sedentary lifestyle, and excessive alcohol and tobacco use. Tumors can also be caused by exposure to ionizing radiation, chemical mutagens, infectious microorganisms, and environmental pollutants. Tobacco-related tumors account for 35% to 50% of all cancers in men and 17% of all cancers in women. Men have a higher tumors mortality rate than women. Diagnosis and treatment costs are likely to increase in the future as the population ages and more people are diagnosed with cancer.
Moreover, medical institutions such as hospitals require highly sensitive and reliable diagnostics to accurately and early diagnose cancer in order to increase tumor treatment options. Molecular and companion diagnostics are common techniques for detecting various types of tumor. Rising numbers of tumor cases will increase the demand and use of cancer immunotherapy, prompting providers to continue developing advanced and improved treatments. Such factors will boost the growth of the market during the forecast period.
The rising adoption of immunotherapy is a key trend influencing the market growth. Immunotherapy is a promising new cancer treatment that stimulates the immune system. Immunotherapy has been shown to be effective in stage 3 and 4 patients. However, it is not recommended for all patients. It depends on the condition and type of tumor. Immunotherapy can be used to treat many different tumors, including lung cancer, kidney cancer, bladder cancer, melanoma, cervical cancer, and lymphoma. A study conducted in India found that very low doses of the immunotherapy drug nivolumab (Opdivo) extended life in patients with advanced head and neck cancer. Plus, the dosage is 6% of that commonly used in the US and Europe, so it could be cheaper.
Moreover, in clinical studies, the research team added very low doses of nivolumab to the standard of care for head and neck cancer in India. With increasing tumor incidence in India, new technologies are being developed to improve the diagnosis, treatment and management of tumor patients. Such factors drive the growth of the market during the forecast period.
The high cost of products for the treatment of cancer is challenging the market growth. The high cost of cancer treatment poses a major barrier to the market. Due to a lack of financial resources, a significant number of tumor patients in India cannot afford to pay for their tumor treatment or have stopped treatment. The factors that contribute to the high cost of anticancer drugs and treatments are due to the upper-class (high-income) patients paying large sums for early diagnosis and treatment of tumors, which increases the cost of diagnosis and treatment, adversely affecting patients who cannot afford such high costs.
Most tumors are incurable and require individualized treatment. As a result, the patient receives several sequential or combined treatments. This means that if a drug or treatment fails, doctors will have to try alternatives, increasing the cost. Along with all this, poor reimbursement policies and the high cost of anticancer drugs in India have resulted in low acceptance of the oncology market. Such factors may hinder the growth of the market during the forecast period.
The 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 growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alkem Laboratories Ltd: The company offers three types of biosimilar drugs namely Rituximab (Cytomab), Trastuzumab (Helsima), and Bevacizumab (Aduvamab). These are all monoclonal antibodies. Ezene Biosciences, a specialist research arm of Alkem Laboratories, is currently working on a series of monoclonal antibodies. There are several other biosimilar drugs in the pipeline.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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.
The market exhibits a complex landscape shaped by various factors such as alcohol and tobacco consumption, leading to a significant rise in cancer cases and the prevalence of cancer across the population. The World Health Organization (WHO) and initiatives like the Global Action Plan for Prevention and Control of Non-Communicable Diseases play a crucial role in raising awareness and implementing strategies to combat chronic diseases including cancer. In the realm of oncology diagnostics and treatment, India's biopharmaceutical industry is driving advancements with the development of innovative drugs and therapeutics. Traditional approaches like chemotherapy are being complemented by immunotherapy, targeted therapy, and hormonal therapy to provide more effective and personalized treatments. The oncology market also sees significant contributions from the medical devices industry and the insurance industry, facilitating access to non-invasive diagnostic tools, tumor diagnostic tests, and various treatment options.
The market share growth by the cancer treatment segment will be significant during the forecast period. Radiation therapy and chemotherapy are the two most common options for treating tumor. However, both of these treatments have their fair number of side effects. Anemia is one of the most common side effects experienced by cancer patients. Cancer therapies have been revolutionized in recent years with the introduction of several therapeutic agents such as monoclonal antibodies. For example, with the advent of trastuzumab, it is now possible to treat breast cancer with human epidermal growth factor receptor 2 positive.
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The cancer treatment segment was valued at USD 491.31 million in 2017 and continued to grow until 2021. The COVID-19 outbreak has adversely impacted the market, causing major changes and disruptions to many medical procedures and treatments. Due to delays in tumor diagnosis, treatment, therapy, chemotherapy, and radiotherapy, the pandemic has reduced the adoption of oncology treatments and services in healthcare facilities, hindering market expansion. In response to the outbreak, market companies have developed new business strategies such as product launches, mergers and acquisitions, and partnerships. However, after lifting lockdown restrictions the healthcare industry resumed its operations. The resumption of various pre-clinical trials and pharmaceutical businesses, as well as increased research and development in the oncology field, are expected to drive the growth of the market during the forecast period.
The market forecasts market growth by revenue and provides a market growth analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is witnessing significant growth driven by various factors. The increasing incidence of cancer and the emphasis on early diagnostics have propelled the demand for oncology diagnostics and treatment. Organizations like the World Health Organization (WHO) have introduced initiatives such as the Global Action Plan for Prevention and Control of Non-Communicable Diseases to address the rising burden of chronic diseases like cancer. One of the significant trends in the oncology market is the rise of targeted therapies that aim to treat specific molecular targets associated with cancer cells. For example, in lung cancer, both Non-small cell lung cancer and Small cell lung cancer are being addressed through targeted therapies tailored to each subtype. The market is witnessing innovations in drug formulations, including liquid dosage forms and injectable dosage forms, offering patients more options for treatment administration and management.
Moreover, the biopharmaceutical industry plays a crucial role in this market, constantly innovating to develop innovative drugs and therapeutics. While traditional chemotherapy remains a cornerstone, there's a shift towards targeted therapy, hormonal therapy, and non-invasive diagnostic tools for more effective treatments. India's oncology sector encompasses various cancer types such as lung cancer, colorectal cancer, and prostate cancer. Collaborations between the pharmaceutical sector, medical devices industry, and insurance industry are facilitating advancements in oncology solutions and patient access to treatments. As the oncology market continues to evolve, hormone therapy also plays a critical role, particularly in hormone-sensitive cancers like breast and prostate cancer. It helps in managing hormone levels to slow or stop the growth of cancer cells.
Furthermore, immuno-Oncology and personalized medicine are emerging as promising areas, with cancer diagnostic tests, surgery, chemotherapy agents, immunotherapies, and hormone therapies being key components. The integration of Artificial Intelligence (AI) in oncology research and treatment planning, exemplified by institutions like the Aichi Cancer Center, is enhancing cancer management and treatment outcomes. Increased awareness of cancer, early screening, and the introduction of new cancer drugs and medications are driving positive changes in oncology care in India. With emerging therapies targeting rapidly dividing cells, the oncology market in India is poised for further growth and advancements in managing this critical area of healthcare.
Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.45% |
Market growth 2023-2027 |
USD 947.84 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.42 |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Abbott Laboratories, Alkem Laboratories Ltd., AstraZeneca Plc, Baxter International Inc., Bristol Myers Squibb Co., Cipla Ltd., 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., and Zydus Lifesciences Ltd. |
Market dynamics |
Parent market analysis, market report, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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