North America Cancer Therapies Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Cancer Therapies Market Analysis
The North America cancer therapy market is estimated to grow at a CAGR of 8.1% during the forecasted period.
The COVID-19 pandemic has affected the healthcare systems globally and also has had a significant impact on the cancer therapy market. As per the article published in November 2020 titled "Studies Evaluate Impact of COVID-19 on Cancer Care", by Cancer Connect, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of the six most common cancer types - breast, colorectal, lung, pancreatic, gastric, and esophageal cancers. Moreover, in the COVID-19 era, nearly 88% of the cancer care centers faced challenges in delivering usual cancer care for many reasons, including precautionary measures, lack of personal protective equipment, and staff shortage as per the research article published in the JCO Global Oncology 2020. Additionally, this impact was more pronounced in low-income countries. Thus, the COVID-19 pandemic has impacted the cancer therapy market.
Certain factors that are driving the market growth include the rising prevalence of cancer, strong research and development (R&D) initiatives from key players, and growing government initiatives for cancer awareness.
Additionally, the high concentration of key players in North America, increasing Food and Drug Administartion (FDA) approvals, strategic alliances, and high investment in research and development activities are expected to boost the market in the region. For instance, in November 2020, Merck & Co. Inc entered into a definitive agreement to acquire Velosbio Inc., which is a privately held clinical-stage biopharmaceutical company committed to developing first-in-class cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1). Similarly, in March 2020, Johnson and Johnson received the United States Food and Drug Administration (USFDA) Breakthrough Therapy Designation for JNJ-61186372 (JNJ-6372) for the treatment of patients with metastatic non-small cell lung cancer (NSCLC). Thus, given the aforementioned factors, the cancer therapy market is expected to grow significantly over the forecast period in North America.
However, fluctuation in reimbursement policies and high cost of cancer therapies is expected to hinder the growth of the market.
North America Cancer Therapies Market Trends
This section covers the major market trends shaping the North America Cancer Therapies Market according to our research experts:
The Target Therapy Segment is Expected to show the Fastest Growth During the Forecast Period
Targeted therapy is a treatment that uses drugs to target specific genes and proteins that are involved in the growth and survival of cancer cells. It can affect the tissue environment that helps cancer grow and survive or it can target cells related to cancer growth, like blood vessel cells.
Some of the most common types of targeted therapy are monoclonal antibodies or small-molecule drugs. Moreover, targeted therapies are a rapidly growing field of cancer research and researchers are studying many new targets and drugs through clinical trials. For instance, the human epidermal growth factor receptor 2 protein (HER-2) is expressed at high levels on the surface of some cancer cells. Several targeted therapies are directed against HER-2, including trastuzumab (Herceptin), which is approved to treat certain breast and stomach cancers that overexpress HER-2.
Besides, product approval is also supporting market growth. For instance, in April 2020, the United States Food and Drug Administration (US FDA) approved Trodelvy (sacituzumab govitecan-hziy) for the treatment of adult patients with triple-negative breast cancer. Trodelvy is a Trop-2-directed antibody and topoisomerase inhibitor drug conjugate, which targets the Trop-2 receptor that helps cancer grow, divide and spread.
Additionally, in May 2020, the United States Food and Drug Administration (USFDA) approved Tabrecta (lapatinib) for the treatment of adult patients with non-small cell lung cancer (NSCLC), and it is the first FDA-approved targeted therapy to treat NSCLC with specific mutations. Thus, given the increasing product approvals and high research activities related to targeted therapies against cancers, the studied segment is expected to grow over the forecast period.
The United States is Expected to Dominate the North America Cancer Therapy Market During the Forecast Period
The United States is expected to increase its market share in the future, owing to the increased adoption of cancer therapy and the growing burden of cancers in the United States. As per the American Cancer Society, "Cancer and Figures 2022", there will be an estimated 1.9 million new cancer cases diagnosed in 2022. Moreover, as per the same source in 2020, the most common cancers were breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) in the United States. Thus, the increasing cases of cancer require early treatment which is expected to increase the demand for cancer therapies over the forecast period.
Additionally, the increasing launches by manufacturers to meet the growing demand for innovative products are expected to drive market growth in the country. For instance, in May 2021, Amgen's LUMAKRAS (sotorasib) was approved by the United States Food and Drug Administration (US FDA) for the treatment of adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC). Moreover, in September 2022, the US FDA granted accelerated approval for a drug Retevmo targeting a specific genetic alteration that can drive cancer growth - called RET fusion - additional evidence of precision medicine's potential to bring effective treatments to patients with pancreatic cancer based on their tumor's biology.
Thus, given the aforementioned factors, the cancer therapy market is expected to grow significantly over the forecast period in the United States.
North America Cancer Therapies Industry Overview
The North American cancer therapy market is consolidated. In terms of market share, few of the major players currently dominate the market. Companies, like Amgen Inc., AstraZeneca PLC, Bayer AG, Bristol-Myers Squibb Company, and Johnson and Johnson, hold significant shares in the cancer therapy market.
North America Cancer Therapies Market Leaders
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Johnson and Johnson
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AstraZeneca PLC
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Merck & Co. Inc.
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Bayer AG
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Amgen Inc
*Disclaimer: Major Players sorted in no particular order
North America Cancer Therapies Market News
- In September 2022, Eli Lilly and Company announced that the United States Food and Drug Administration (FDA) has approved Retevmo (selpercatinib, 40 mg & 80 mg capsules) for adult patients with locally advanced or metastatic solid tumors with a rearranged during transfection (RET) gene fusion that has progressed on or following prior systemic treatment or who have no satisfactory alternative treatment options.
- In August 2022, the United States Food and Drug Administration approved Enhertu (fam-trastuzumab-deruxtecan-nxki), an IV infusion for the treatment of patients with unresectable (unable to be removed) or metastatic (spread to other parts of the body) HER2-low breast cancer.
North America Cancer Therapies Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Prevalence of Cancer
- 4.2.2 Strong R&D Initiatives from Key Players and the Government
- 4.2.3 Growing Government Initiatives for Cancer Awareness
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4.3 Market Restraints
- 4.3.1 Fluctuation in Reimbursement Policies
- 4.3.2 High Cost of Cancer Therapies
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
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5.1 By Treatment Type
- 5.1.1 Chemotherapy
- 5.1.2 Targeted Therapy
- 5.1.3 Immunotherapy
- 5.1.4 Hormonal Therapy
- 5.1.5 Other Treatment Types
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5.2 By Cancer Type
- 5.2.1 Blood Cancer
- 5.2.2 Breast Cancer
- 5.2.3 Prostate Cancer
- 5.2.4 Gastrointestinal Cancer
- 5.2.5 Gynecologic Cancer
- 5.2.6 Respiratory/Lung Cancer
- 5.2.7 Other Cancer Types
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Spcialty Clinics
- 5.3.3 Cancer and Radiation Therapy Centers
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5.4 Geography
- 5.4.1 United States
- 5.4.2 Canada
- 5.4.3 Mexico
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Johnson and Johnson
- 6.1.2 AstraZeneca PLC
- 6.1.3 Merck & Co. Inc.
- 6.1.4 Bayer AG
- 6.1.5 Amgen Inc
- 6.1.6 F. Hoffmann-La Roche Ltd
- 6.1.7 Eli Lilly and Company
- 6.1.8 Novartis AG
- 6.1.9 Pfizer Inc
- 6.1.10 Bristol Myers Squibb Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityNorth America 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 North America Cancer Therapy Market is segmented by Therapy Type (Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy, and Other Therapy 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, and Cancer and Radiation Therapy Centers). The report offers the value (in USD million) for the above segments.
| By Treatment Type | Chemotherapy |
| Targeted Therapy | |
| Immunotherapy | |
| 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 |
| Spcialty Clinics | |
| Cancer and Radiation Therapy Centers | |
| Geography | United States |
| Canada | |
| Mexico |
North America Cancer Therapies Market Research FAQs
What is the current North America Cancer Therapy Market size?
The North America Cancer Therapy Market is projected to register a CAGR of 8.10% during the forecast period (2024-2029)
Who are the key players in North America Cancer Therapy Market?
Johnson and Johnson, AstraZeneca PLC, Merck & Co. Inc., Bayer AG and Amgen Inc are the major companies operating in the North America Cancer Therapy Market.
What years does this North America Cancer Therapy Market cover?
The report covers the North America Cancer Therapy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Cancer Therapy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Cancer Therapy Industry Report
Statistics for the 2024 North America Cancer Therapy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Cancer Therapy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
