Market Size of Europe Cancer Therapeutics Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 58.32 Billion |
Market Size (2029) | USD 75.79 Billion |
CAGR (2024 - 2029) | 5.38 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Cancer Therapeutics Market Analysis
The Europe Cancer Therapeutics Market size is estimated at USD 58.32 billion in 2024, and is expected to reach USD 75.79 billion by 2029, growing at a CAGR of 5.38% during the forecast period (2024-2029).
At the start of the global spread of COVID-19 in early 2020, patients with cancer were designated as a particularly vulnerable subgroup of the population. Cancer patients have been reported to be both at increased risk of contracting SARS-CoV-2 infection and of running a more severe disease course, with a higher proportion requiring greater levels of intensive care, having a more rapidly evolving disease, and an increased risk of death. Additionally, it seems that cancer treatment does not associate with COVID-19 severity, which could help cancer patient's well-being during this pandemic. The consequences of this pandemic for the cancer therapeutics market seemed to be heavy, as the entire healthcare system got reorganized.
The driving factors for the growth of the European cancer therapeutics market include the ease in regulatory approval for novel cancer therapy in Europe, the rising prevalence of cancer, and strong R&D investments by the key players in the region. According to the International Agency for the Research on Cancer, 2021 data reported that the number incidence of cancer cases for the European region in the year 2020 was 4.79 million cancer cases and the number is expected to increase to 6.07 million by 2040. Thus, increasing the incidence of cancer cases is more likely to drive the market.
In addition, the heavy investments made in R&D activities have enhanced the development of cancer therapeutics. Furthermore, favorable government regulations for cancer therapeutics and recent mergers, acquisitions, and launches within the key market players have also boosted the growth of the market. For instance, in May 2020 Boehringer Ingelheim acquired Northern Biologics, a wholly owned subsidiary of Northern LP. This acquisition has assisted the company to add two complementary assets to its existing cancer immunology portfolio including cancer vaccines, oncolytic viruses, T-cell engagers, and myeloid cell modulators.
Thus, due to the aforesaid mentioned reasons the company is expected to show significant growth over the forecast period, however high cost of cancer therapies, and inequality in access to cancer therapy across Europe may slow down the growth of the market.
Europe Cancer Therapeutics Industry Segmentation
As per the scope of the report, Europe cancer therapeutics 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. The cancer therapeutics market is segmented by Treatment Type (Chemotherapy, Target Therapy, Immunotherapy (Biologic Therapy), Hormonal Therapy, Other Treatment Types), Cancer Type (Blood Cancer, Breast Cancer, Prostate Cancer, Gastrointestinal Cancer, Gynecologic Cancer, Respiratory/Lung Cancer, Other Cancer Types), By End-Users (Hospitals, Specialty Clinics, Cancer and Radiation Therapy Centers, and Geography (Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe)). The report offers the value (in USD million) for the above segments.
By Treatment | |
Chemotherapy | |
Target Therapy | |
Immunotherapy (Biologic Therapy) | |
Hormonal 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 | |
Specilty Clinics | |
Cancer and Radiation Therapy Centers |
By Geography | |
Germany | |
United Kingdom | |
France | |
Italy | |
Spain | |
Rest of Europe |
Europe Cancer Therapeutics Market Size Summary
The European cancer therapeutics market is poised for substantial growth, driven by factors such as regulatory ease in approving novel therapies, increasing cancer prevalence, and robust research and development investments by key industry players. The market's expansion is further supported by favorable government regulations and strategic mergers and acquisitions, which have enhanced the development of innovative cancer treatments. Despite the challenges posed by the high cost of therapies and disparities in access across Europe, the market is expected to benefit from the rising incidence of cancer cases, which fuels demand for targeted therapies. These therapies, known for their specificity in targeting cancer cells while minimizing off-target toxicity, are gaining traction due to recent product launches and approvals.
Germany is anticipated to experience significant market growth, attributed to its high cancer case numbers and active clinical trial landscape. The region's market is further bolstered by ongoing research and advancements in cancer treatment methodologies, such as neoadjuvant therapy for rectal cancer. The competitive landscape of the European cancer therapeutics market is characterized by a mix of international and local companies, including major players like Amgen Inc., AstraZeneca PLC, and Bayer AG. Collaborations and acquisitions, such as Boehringer Ingelheim's acquisition of Northern Biologics and Genentech's partnership with Nykode, are instrumental in expanding the market's offerings and capabilities. Overall, the market is expected to witness significant growth over the forecast period, driven by these dynamic factors.
Europe Cancer Therapeutics 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 in Europe
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1.2.2 Strong R&D Initiatives from Key Players
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1.3 Market Restraints
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1.3.1 Inequality in Access of Cancer Therapy across Europe
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1.3.2 High Cost of Cancer Therapies
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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
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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 (Biologic Therapy)
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2.1.4 Hormonal 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 Specilty Clinics
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2.3.3 Cancer and Radiation Therapy Centers
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2.4 By Geography
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2.4.1 Germany
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2.4.2 United Kingdom
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2.4.3 France
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2.4.4 Italy
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2.4.5 Spain
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2.4.6 Rest of Europe
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Europe Cancer Therapeutics Market Size FAQs
How big is the Europe Cancer Therapeutics Market?
The Europe Cancer Therapeutics Market size is expected to reach USD 58.32 billion in 2024 and grow at a CAGR of 5.38% to reach USD 75.79 billion by 2029.
What is the current Europe Cancer Therapeutics Market size?
In 2024, the Europe Cancer Therapeutics Market size is expected to reach USD 58.32 billion.