Market Size of Asia-Pacific Cancer Therapy Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 10.20 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Cancer Therapies Market Analysis
The Asia-Pacific cancer therapy market is expected to register a CAGR of 10.2% over the forecast period.
The COVID-19 pandemic disrupted routine care in many healthcare facilities and had an impact on healthcare systems all around the world, putting susceptible cancer patients in serious danger. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in therapy options for cancer patients. For instance, as per the study titled "Challenges and opportunities for ovarian cancer management in the epidemic of Covid-19: lessons learned from Wuhan, China" published in February 2021, treatment cancellation and delayed surgeries were challenging decisions. Ovarian cancer was identified as gynecologic cancer most affected by COVID-19, perhaps because of the frequent requirement for chemotherapy and ovarian debulking surgery. As a result, the pandemic might hurt the market. However, due to the rise in the incidence of cancers in the general population and fewer COVID-19 cases in the later stages of the pandemic, the market for treatments for cancer saw a noticeable increase in growth.
The Asia-Pacific cancer therapy market is expected to observe good growth owing to the rising prevalence of cancer, growing government initiatives for cancer awareness, and increasing patient assistance programs (PAPs). Lung, stomach, colorectum, liver, and esophagus are the most common types of cancer in Asia-Pacific region. For instance, as per the study titled "Burden of cancers in India - estimates of cancer crude incidence, YLLs, YLDs and DALYs for 2021 and 2025 based on National Cancer Registry Program" published in May 2022, the projected cancer burden in India for 2021 was 26.7 million Disability Adjusted Life Years (DALYs) and expected to increase to 29.8 million in 2025. Thus, the rising burden of cancers, helps the market to grow over the forecast period.
Furthermore, the advancements in the treatment of cancers with latest product approvals and launches drives the growth of the market. For instance, in August 2022, AstraZeneca India has received a Drugs Controller General of India (DCGI) approval to market its drug Lynparza (Olaparib) as a monotherapy for the adjuvant treatment of adult patients with BRCA-mutated HER2- negative high-risk early breast cancer. Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period.
However, the high cost of cancer therapies and fluctuation in reimbursement policies is likely to impede the market's growth.
APAC Cancer Therapies Industry Segmentation
As per the scope of the report, cancer therapies are drugs that block the growth and proliferation of cancer, by interfering with specific molecules, such as DNA or proteins, which are involved in the growth or expansion of cancerous cells. These therapies include surgery, radiation therapy, chemotherapy, immunotherapy, etc. The Asia-Pacific cancer therapy market is segmented by treatment type (chemotherapy, target therapy, immunotherapy, hormone therapy, and other treatment types), cancer type (blood cancer, breast cancer, prostate cancer, gastrointestinal cancer, gynecologic cancer, respiratory/lung cancer, and other cancer types), end user (hospitals, specialty clinics, radiation therapy center) and geography (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific). The report offers the value (in USD million) for the above segments.
By Treatment Type | |
Chemotherapy | |
Target Therapy | |
Immunotherapy | |
Hormone Therapy | |
Other Treatment Types |
By Cancer Type | |
Blood Cancer | |
Breast Cancer | |
Prostate Cancer | |
Gastrointestinal Cancer | |
Gynecologic Cancer | |
Respiratory/Lung Cancer | |
Other Cancer Types |
By End User | |
Hospitals | |
Specialty Clinics | |
Radiation Therapy Center |
Geography | |
China | |
Japan | |
India | |
Australia | |
South Korea | |
Rest of Asia-Pacific |
Asia-Pacific Cancer Therapy Market Size Summary
The Asia-Pacific cancer therapy market is poised for significant growth, driven by the increasing prevalence of cancer and the rising demand for effective treatment options. The market is experiencing a resurgence following the disruptions caused by the COVID-19 pandemic, which had initially led to delays and cancellations in cancer treatments. However, the easing of pandemic-related restrictions and the growing incidence of cancer have spurred market expansion. Key factors contributing to this growth include government initiatives for cancer awareness, patient assistance programs, and advancements in cancer treatment technologies. The region's cancer landscape is dominated by lung, stomach, colorectum, liver, and esophagus cancers, with targeted therapies gaining prominence due to their specificity and reduced toxicity. The introduction of new drugs and therapies further bolsters market growth, despite challenges such as high treatment costs and fluctuating reimbursement policies.
China, in particular, is a major driver of market growth within the region, fueled by the increasing cancer burden and a strong focus on research and development of innovative therapies. The approval and launch of new cancer treatments in China, such as BeiGene's tislelizumab and AstraZeneca's Imfinzi, are expected to significantly impact market dynamics. The competitive landscape of the Asia-Pacific cancer therapy market is characterized by the presence of major players like Amgen Inc, AstraZeneca, and Bayer AG, alongside mid-size and smaller companies that are expanding their market presence through technological advancements and cost-effective product offerings. As the market continues to evolve, these factors are anticipated to drive substantial growth over the forecast period.
Asia-Pacific Cancer Therapy Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Prevalence of Cancer
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1.2.2 Growing Government Initiatives for Cancer Awareness
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1.2.3 Increasing Patient Assistance Programs (PAPs)
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1.3 Market Restraints
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1.3.1 High Cost of Cancer Therapies
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1.3.2 Fluctuation in Reimbursement Policies
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Treatment Type
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2.1.1 Chemotherapy
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2.1.2 Target Therapy
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2.1.3 Immunotherapy
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2.1.4 Hormone Therapy
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2.1.5 Other Treatment Types
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2.2 By Cancer Type
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2.2.1 Blood Cancer
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2.2.2 Breast Cancer
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2.2.3 Prostate Cancer
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2.2.4 Gastrointestinal Cancer
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2.2.5 Gynecologic Cancer
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2.2.6 Respiratory/Lung Cancer
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2.2.7 Other Cancer Types
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Specialty Clinics
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2.3.3 Radiation Therapy Center
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2.4 Geography
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2.4.1 China
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2.4.2 Japan
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2.4.3 India
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2.4.4 Australia
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2.4.5 South Korea
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2.4.6 Rest of Asia-Pacific
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Asia-Pacific Cancer Therapy Market Size FAQs
What is the current Asia-Pacific Cancer Therapy Market size?
The Asia-Pacific Cancer Therapy Market is projected to register a CAGR of 10.20% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Cancer Therapy Market?
Merck & Co. Inc., Bayer AG, Amgen Inc, AstraZeneca and Johnson & Johnson Services, Inc. are the major companies operating in the Asia-Pacific Cancer Therapy Market.