The global cancer therapy market was valued at ~ $137.2 billion in 2018, and is estimated to be valued at $220.7 billion in 2024, witnessing a CAGR of 8.37%. Certain factors that are driving the market growth include increasing Patient Assistance Programs (PAPs), increasing government initiatives for cancer awareness, rising prevalence of cancer worldwide, and strong R&D initiatives from key players.

North America continues to be the most lucrative regional oncology market owing to the increasing investment by major giants and the government initiatives in the healthcare sector as a whole, and in the pharmaceutical industry in particular. North America had a regional share of 46% as of 2018, which is almost equivalent to half of the global contribution.

India

International

The global pharmaceutical market has experienced significant growth in recent years. Total global pharmaceutical market is valued at ~ $1.2 trillion (2018) & expected to reach ~$1.57 trillion by 2023.

North America is expected to retain its leading position in the global pharmaceuticals market with market share of ~45% in 2023 improving on its market share compared to 2017. Europe on the contrary is expected to see a decline in its market share compared to 2017 and be worth ~20% of global pharma industry in 2023. Asia Pacific pharmaceuticals market is expected to retain its second position with a market share of ~24% in 2023. Latin America and Middle East and Africa (MEA) are expected to retain ~8% and 3% market share of global pharmaceuticals market in 2023.

Key Drivers for the growth are ageing and rising population, improvements in purchasing power and access to quality healthcare and pharmaceuticals to poor and middle-class families worldwide.