Analysis by APIs (Innovative Oncology APIs and Generic Oncology APIs); by Synthesis Type (Synthetic Oncology APIs, and Biotech Oncology APIs); by Manufacturer Type (Captive and Merchant); and by Type of Cancer (Breast, Cervical, Lung, Liver, Colorectal, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
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The global oncology active pharmaceutical ingredient (API) market is estimated to garner a revenue of ~USD 7 Billion by the end of 2035 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. The growth of the market can be estimated to be the higher prevalence of cancer owing to unhealthy lifestyles and genetic disorders across the globe. Based on the report published by World Health Organization (WHO) it was stated that in 2020, approximately 10 million deaths were caused by cancer around the world. Furthermore, the rising awareness about the effectiveness of active pharmaceutical ingredients (API) on targeted cancerous cells is also anticipated to propel their demand in the upcoming years.
Global oncology active pharmaceutical ingredient (API) market trends such as growing consumption of pain relievers and ongoing multiple Research & Development activities pertaining to the development of novel anti-cancer drugs are further estimated to influence the market growth positively during the forecast period. Other than the aforementioned factors, the recent development by biomarkers to increase the effectiveness of active pharmaceutical ingredients on targeted cancerous cells while minimizing the effect on non-cancerous cells is also anticipated to proliferate the market for growth and expansion. Also, rising awareness among patients regarding the side effects associated with chemotherapy treatments is projected to augment the demand for biologically active drugs with lower dosages coupled with technological advancements to reduce the pain from chronic diseases among patients are other factors that are estimated to bring lucrative growth opportunities for market growth. It is observed that 1 out of 5 individuals which is equivalent to 20 million people in the United States suffers from chronic pain. Thereby, all these factors are projected to fuel the market growth over the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 2 Billion |
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Forecast Year Market Size (2035) |
~ USD 7 Billion |
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Regional Scope |
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Growth Drivers
Increasing Consumption of Tobacco and Cigarettes - As of 2020, about 12 out of 100 adults in the United States were noticed to be smoking cigarettes. Tobacco and cigarettes are the leading cause of cancer and they are still highly consumed by adults. The prevalence of tobacco and cigarette consumption is generally high in every region. Hence, such a mounting consumption is estimated to foster the growth of the market during the forecast period.
Mounting Number of Geriatric Population – As people start to age, their body weakens and body organs start to deteriorate. As a result, they are more prone to cancer and other chronic diseases. According to the data released by the World Bank, the number of geriatrics was noticed to be 747,238,580 in 2021 around the world.
Growing Healthcare Expenditure per Capita – With the growing economies, the spending capacity of individuals also rose during the recent period. As a result, the spending on health and fitness increased, subsequently increasing the sales of oncology active pharmaceutical ingredients in the assessment period. Hence, the increased healthcare expenditure is attributed to generating significant revenue in the next years. A report from World Health Organization (WHO) stated that global spending on health increased steadily throughout the period of 2000 to 2018, ultimately reaching approximately USD 8 trillion or 10% of global GDP.
Higher Prevalence of Medication Errors- For instance, reports of medication errors received by the U.S. FDA were stated to be more than 100,000 in 2019 in the United States region.
Challenges
The global oncology active pharmaceutical ingredient (API) market is segmented and analyzed for demand and supply by type of cancer into breast, cervical, lung, liver, colorectal, and others. Amongst these segments, the breast cancer segment is projected to acquire the largest market share over the forecast period on the back of rising cases of breast cancer. World Health Organization (WHO) showed that in 2020 around 2.26 million cases of breast cancer were diagnosed across the globe. The rising number of deaths owing to breast cancer along with the increased difficulties among patients owing to breast cancer is estimated to increase the demand for oncology active pharmaceutical ingredients in the next few years.
The global oncology active pharmaceutical ingredient (API) market is also segmented and analyzed for demand and supply by synthesis type into synthetic oncology APIs, and biotech oncology APIs. Out of these two segments, the synthetic oncology APIs segment is anticipated to garner the highest market share owing to the high advantages and benefits offered by them. Low cost for manufacturing synthetic oncology active pharmaceutical ingredients owing to the fewer costs of the raw materials used is considered to be the major factor for segment expansion. Furthermore, the easy process of manufacturing coupled with less complex processes is another factor that is projected to create a positive outlook for segment growth during the analysis period.
Our in-depth analysis of the global oncology active pharmaceutical ingredient (API) market includes the following segments:
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By APIs |
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By Synthesis Type |
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By Manufacturing Type |
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By Type of Cancer |
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The North American oncology active pharmaceutical ingredient (API) market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market in the region is accented to the mounting prevalence of cancer. Data published by the Centers for Disease Control and Prevention showed that in 2019, 1,752,725 new cases of cancer were diagnosed while 599,589 people lost their lives due to cancer in a similar year in the United States. Additionally, the rising geriatric population and developing healthcare infrastructure are further expected to hike the growth of the market over the forecast period. Figures provided by the World Bank showed that in 2021, the number of geriatrics in the USA reached 56,545,938. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies are also anticipated to contribute to the market growth in the region.
On the other hand, the Asia Pacific oncology active pharmaceutical ingredient (API) is also attributed to garnering a notable market share including a steady CAGR. The presence of a large pool of patients in the region, along with the rising outflow and inflow of patients in the hospitals on a daily basis are projected to be the major factors for market expansion in the region. In addition, the rapid growth in the healthcare industry in the region, especially in China, India, and Japan, and the surge of healthcare expenditure is also anticipated boost market growth during the forecast period.
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AbbVie Inc. conducted a survey, Emotional Impact Report, and released the findings from it. This survey included more than 300 chronic lymphocytic leukemia patients that grow out of blood cancer. The survey also offered mental and emotional support to patients living with slow-growing blood cancer.
Abbott Laboratories to emerge in a study published in the Lancet Neurology to elaborate on the capability of two blood-based biomarkers to predict the results from traumatic brain injury (TBI) and inform treatment interventions.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Higher prevalence of cancer across the globe and the mounting geriatric population is estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2035.
Ans: Possibilities of side effects and higher price associated with the manufacturing procedure is estimated to challenge the market growth.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Merck & Co. Inc., Pfizer Inc., Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Novartis AG, Mylan N.V., GSK plc, AbbVie Inc., Teva Pharmaceutical Industries Ltd., Eli Lilli and Company, and other key players.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by APIs, manufacturing type, type of cancer, synthesis type, and by region.
Ans: The breast cancer segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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