The global blockbuster oncology brands market was valued at USD 40.8 billion in 2023 and is projected to grow with a healthy compound annual growth rate (CAGR) of 8.0% over the forecast period of 2024-2032. This substantial growth is attributed to a multitude of factors, including the increasing global incidence of various cancer types, advancements in oncology drug development, and robust demand for novel therapeutic solutions. Blockbuster oncology drugs, often generating annual sales exceeding USD 1 billion, continue to dominate the oncology space, presenting lucrative opportunities for pharmaceutical companies.
The proliferation of cutting-edge treatments such as targeted immunotherapy, monoclonal antibodies, CAR-T cell therapies, and precision oncology drugs has significantly transformed cancer treatment protocols, providing tailored approaches based on tumor profiling and genetic insights. The favorable regulatory environment, including accelerated drug approvals from the FDA and EMA, coupled with enhanced reimbursement policies, is further bolstering market growth. Additionally, rising healthcare spending in emerging economies, coupled with increasing investments in research and development, is expected to propel innovation in oncology drugs.
The escalating prevalence of cancer across demographics is another critical growth driver. The International Agency for Research on Cancer (IARC) predicts that the number of global cancer cases will rise from 20 million in 2022 to over 35 million by 2050. This growing disease burden necessitates the adoption of advanced therapeutic solutions. Moreover, the pharmaceutical industry's commitment to meeting this demand is evident from substantial investments in clinical trials, partnerships, and technological advancements.
The competitive landscape of the blockbuster oncology brands market is characterized by innovation-driven strategies. Major players are leveraging collaborations, acquisitions, and pipeline advancements to secure leadership positions. Brands such as Opdivo and Keytruda have emerged as market leaders, supported by comprehensive clinical efficacy and broad-spectrum therapeutic applicability.
From a regional perspective, North America dominated the market in 2023, driven by high healthcare expenditure, strong adoption of advanced therapies, and a robust pharmaceutical ecosystem. However, the Asia Pacific region is poised to witness the fastest growth during the forecast period, supported by increasing healthcare infrastructure investments, government initiatives for cancer care, and a rising prevalence of the disease.
Major market player included in this report are:
Bristol-Myers Squibb Company
Merck & Co., Inc.
Pfizer Inc.
F. Hoffmann-La Roche Ltd
AstraZeneca
GSK plc
Novartis AG
Johnson & Johnson Services, Inc.
AbbVie Inc.
Amgen Inc.
Eli Lilly and Company
Genmab
Takeda Pharmaceutical Company Limited
Bayer AG
Sanofi
The detailed segments and sub-segment of the market are explained below:
By Brands
Opdivo
Keytruda
Perjeta
Ibrance
Tecentriq
Gazyva
Tagrisso
Darzalex
Zejula
Revlimid
Imbruvica
Others
By Treatment
Lung Cancer
Breast Cancer
Multiple Myeloma
Lymphoma
Others
By Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Other
By Region: North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Denmark
Sweden
Norway
Asia Pacific
China
India
Japan
Australia
South Korea
Thailand
Latin America
Brazil
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Blockbuster Oncology Brands Market Executive Summary
1.1. Global Blockbuster Oncology Brands Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Brands
1.3.2. By Treatment
1.3.3. By Distribution Channel
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Blockbuster Oncology Brands Market Definition and Research Assumptions