How Big Is the Cancer Therapeutics Market | Growth Analysis 2031

Q: How big is the cancer therapeutics market?

The cancer therapeutics market was estimated USD 185 billion in 2024 and is projected to reach USD 315 billion by 2031.

Q: What drives the growth of the cancer therapeutics market?

Rising cancer incidence, demand for targeted drugs, and technological advancements in biologics and immunotherapy are driving growth.

Q: What are the major trends in the cancer therapeutics industry?

Personalized medicine, CAR-T therapies, combination treatments, and gene-based therapies are major trends.

Q: Who are the key players in the cancer therapeutics market?

Major players of the market include Roche, Merck, Pfizer, BMS, Novartis, and AstraZeneca.

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Code: MTA5562

Publication Date: Jul 2025

What is the size of the Cancer Therapeutics Market?

According to 6Wresearch internal database and industry insights, the Global Cancer Therapeutics Market was estimated at USD 185 billion in 2024 and is projected to reach USD 315 billion by 2031, growing at a CAGR of 7.8% during the forecast period 2025â€“2031.

Due to rising global cancer prevalence, increasing demand for targeted therapies, and breakthroughs in immuno-oncology and precision medicine, the market is predicted for the substantial growth in the forthcoming years.

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Key Growth Factors of the Cancer Therapeutics Market

Rising global burden of cancer and aging demographics
Growing approvals and adoption of immunotherapies and targeted treatments
Increased investment in oncology R&D by pharmaceutical companies
Supportive government initiatives and fast-track regulatory approvals
Wider access to innovative biologics and biosimilars in emerging markets

Cancer Therapeutics Market Trends

The cancer therapeutics market is witnessing growth with several trends such as surge in immunotherapies like checkpoint inhibitors and CAR-T cell therapies. Personalized treatment approaches based on genetic profiling are becoming standard care in many developed countries. Additionally, combination therapies and tumour-specific drug delivery systems are gaining clinical traction to improve outcomes and reduce side effects.

Emerging Developments in the Cancer Therapeutics Market

Cancer therapeutics market is moving towards developments with next-generation immunotherapies, RNA-based cancer vaccines, and gene-editing tools like CRISPR which is reshaping treatment pathways. The use of AI in drug discovery is speeding up the identification of novel targets. Further, the public-private collaborations are also increasing for the development of cost-effective therapies and access in low-income regions.