Oncology Precision Medicine Market CAGR To Around 10% by 2035 | Roots Analysis

In the dynamic landscape of cancer treatment, oncology precision medicine has remarkably transformed the approach of treating and managing oncological disorders. These drugs are selectively designed and developed to target the cancer associated biomarkers and mutated genes identified within the genetic makeup of the cancer diagnosed patient. 

Further, the incorporation of technologies such as next-generation sequencing and omics-platforms in personalized medicine have helped physicians in selecting and delivering accurate treatments based on the genomic profile generated by such technology-based diagnostic tools. With this strategy of comprehensive genome profiling, personalized medicine in oncology has increased median survival rate by two times and has bought a significant 20% reduction in the cost of cancer care and management.

Considering such vast potential, precision medicine oncology companies are actively involved in developing targeted drugs, that have the ability to mitigate fatalities associated with this life-threatening condition.

According to Roots Analysis latest market report, the global oncology precision medicine market size is projected to reach USD 364 billion by 2035 from USD 130 billion in 2023, growing at a CAGR of 8.93% in the forecast period 2023-2035. 

Oncology Precision Medicine Market Segments 

Based on the type of cancer targeted, the market is segmented into Bladder Cancer, Blood / Hematologic Cancer, Breast Cancer, Cervical Cancer, Gastrointestinal Cancer, Head and Neck Squamous Cell Cancer, Lung Cancer, Skin Cancer and Others

Blood / hematologic cancer is likely to lead the market for oncology precision medicines, capturing the largest revenue share of more than 25% in 2023.

Lung cancer is anticipated to show the highest growth rate during the forecast period of over 10% annually.

Based on the route of administration, the market is segmented into Oral, Intravenous and Others

The precision medicines administered through intravenous route led the market for oncology precision medicine, capturing the largest revenue share of more than 55% in 2023.

The oral route is anticipated to show the highest growth rate during the forecast period of close to 10% annually. This is attributed to the various advantages such as non-invasiveness, higher patient compliance and ease of administration.

Based on the type of molecule, the market is segmented into Small Molecules and Biologics.

The biologics segment led the market for oncology precision medicine, capturing the largest revenue share of close to 55% in 2023.

The small molecules segment is anticipated to grow at significant CAGR during the forecast period owing to the ability of small molecules to easily pass through the cell membranes, enabling selective targeting of biomarkers expressed on the tumor cells.

Based on the drug class, the market is segmented into Kinase Inhibitors, Enzyme Inhibitors, Immune Checkpoint Inhibitors and Others

The kinase inhibitors segment led the market for oncology precision medicine, capturing the largest revenue share of more than 50% in 2023.

The enzyme inhibitors segment is anticipated to show the highest growth rate during the forecast period of over 10% annually.

Oncology Precision Medicine Market Regional Outlook 

Based on the key geographical regions, the oncology precision medicine market can be segmented into five major regions, including North America, Europe, Asia, Middle East and North Africa, and Latin America. Led by the US, North America is anticipated to capture the majority share of the oncology precision medicine market in 2023 and this trend is likely to remain unchanged during the forecast period. Further, the pharmaceutical industry in Asia is accounted to be the fastest-growing segment of the market. The growth of the oncology precision medicine markets in the region is driven by increased prevalence of cancer cases resulting in a rise in the interest of various biopharmaceutical companies towards the development of advanced targeted drugs.

Key Report Takeaways 

§  Presently, over 125 drug developers, worldwide are engaged in developing oncology precision medicines targeting various cancer indications; around 90% of these drug developers are headquartered in developed geographies

§  Close to 55% of the oncology precision medicines have been commercialized; of these close to 28% of the drugs are targeting blood / hematologic type of cancer

§  Around 85% oncology precision medicines in preclinical and discovery stage of development are small molecules; of these more than 30% of the drugs target kinase proteins

§  In pursuit of expanding the oncology precision medicine pipeline, the partnership activity in this domain has witnessed a substantial growth with an annualized rate of 16%, during the period 2018-2022

§  Close to one million patients have been recruited / enrolled in clinical trials, registered for the evaluation of oncology precision medicines, across different geographies

§  With the rapid increase in the demand for gene-targeted drugs in the treatment of cancer, the opportunity for companies developing oncology precision medicines is poised to grow at a CAGR of close to 10%

§  The oncology precision medicine market is expected to be well distributed across different type of molecule, cancer targeted, route of administration, drug class and key geographical regions 

To request a sample copy / brochure of this report, please visit

https://www.rootsanalysis.com/reports/oncology-precision-medicine-market.html

Oncology Precision Medicine Market Key Players 

Examples of key companies engaged in oncology precision medicine market (which have also been profiled in this market report; the complete list of companies is available in the full report) include AbbVie, Anticancer Bioscience, Astellas Pharma, AstraZeneca, Bayer, Blueprint Medicines, Bristol Myers Squibb, Eli Lilly, Erasca, Genentech, GlaxoSmithKline, Hutchmed, IDEAYA Biosciences, Jiangsu Hengrui Pharmaceuticals, Johnson & Johnson Innovative Medicine, Merck, Novartis, Pfizer, Repare Therapeutics, Roche, Seagen, SpringWorks Therapeutics, Takeda Pharmaceutical, VERAXA Biotech GmbH and VRise Therapeutics

About Roots Analysis

Roots Analysis is a global leader in the market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

Contact Details

Gaurav Chaudhary

Email: sales@rootsanalysis.com