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Oncology Market Size

Report ID: GMI4879
Published Date: Apr 2023
Report Format: PDF

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Oncology Market Size

Oncology Market size reached more than USD 280 billion in 2022 and is anticipated to exhibit 9.7% CAGR from 2023-2032. Thriving cancer burden worldwide will drive industry growth.

Oncology Market

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The increasing support by several governments and organizations through initiatives for creating awareness regarding the treatment of cancer will augment the oncology industry progress. The rising administrative support along with the surging funding towards cancer prevention research will play a key role in the market expansion.

Oncology Market Report Attributes
Report Attribute	Details
Base Year:	2022
Oncology Market Size in 2022:	USD 280 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9.7%
2032 Value Projection:	USD 690 Billion
Historical Data for:	2018 to 2022
No. of Pages:	276
Tables, Charts & Figures:	405
Segments covered:	Cancer Diagnostics & Treatment, Cancer Type, End-use and Region
Growth Drivers:	Rising incidence of cancer globally Several initiatives undertaken by government and other organizations to spread disease awareness Growing number of diagnostic laboratories in developing countries Technological advancements in developed countries
Pitfalls & Challenges:	High capital investment coupled with high cost associated with diagnostic imaging system High risk of side effects associated with cancer treatment and risks associated with CT scanners Dearth of well-skilled and trained oncologists and radiologists

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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

The global market for oncology reached over USD 280 billion in 2022 and is anticipated to exhibit 9.7% CAGR from 2023-2032 due to increasing government support.

Hospitals will record over USD 462 billion by 2032 owing to the strong presence of highly trained professionals in these settings for handling advanced cancer diagnosis equipment.

North America held 46% of the oncology market share in 2022 on account of rising burden of cancer in the U.S.

GE Healthcare, F. Hoffmann-La Roche, Pfizer, Bayer AG, Merck & Co., Inc., Abbott, AbbVie Inc., Thermo Fischer Scientific, Siemens Healthineers AG, Amgen Inc., Astellas Pharma, Inc., and AstraZeneca are a few major oncology industry players.