Cancer Services Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Cancer Services Market 

Market Overview

In 2015, as per World Health Organization (WHO), 8.8 million deaths were recorded due to cancer and around 20 million people in the world are suffering from cancer. Around 30% people died from cancer caused by tobacco every year. North America and Europe has registered maximum number of cases suffering from lung cancer due to wide adoption of smoking habit. Asia-Pacific region is rapidly expanding in lung cancer cases due to increasing habit of cigarette smoking. Countries of Eastern Europe and other countries like Chile, northern China and Japan have significant number of people suffering from stomach cancer. Increasing number of deadly disease is creating the need for better cancer services. The surge of innovative cancer treatment are becoming a global traction and increasing the demand for cancer services market.

One-third of the 10 million cancer cases can be reduced across the world by taking preventive measures and increasing awareness amongst people. Cancer preventive measures have shown increment in the survival rate from 48% to more than 60% over last two decades. Technological innovations and quality care offerings by non-profitable organizations are creating awareness among people and are likely to boost the demand for better cancer services in near future.

Market Segmentation

Global Cancer Services Market is categorized on the following basis:

• Based on Preventive Care Services
  • By Vaccines
  • By Cancer Growth Inhibitors
• Based on Diagnostic Care Services
  • By Diagnostic Tests
  • By Biopsy
  • By Endoscopy
  • By Imaging
  • By Cancer Therapies
• Based on Application
  • Blood Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Kidney Cancer
  • Lungs cancer
  • Other Application (Skin Cancer, Gastrointestinal Tract Cancer, Liver Cancer)
• Based on End-User
  • Cancer Hospitals
  • Diagnostic Centers
  • Special Clinics
• Based on Geography
  • North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  •  Latin America (Brazil, Mexico & Rest of Latin America)        {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  •  Rest of World {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}

Market Size and Forecast (2016-2024)

The global cancer services market is projected to grow at a CAGR of 15.7% whereas global cancer therapy market is anticipated to grow at CAGR of 16.7% during the forecast period.

North America holds 45% revenue share of global cancer services market in 2016 followed by Europe and is expected to dominate during the forecast period. Every year nearly 24% deaths in North America are caused by cancer. Rising adoption of innovative treatment technology, advanced therapies and government reimbursement policies are the key factors driving the cancer services market in North America region. In 2014, nearly USD 100 billion was spent on oncology medicines globally out of which North America and Europe together accounted for more than 65% of total spending. Europe cancer services market valued USD 32.8 billion in 2015 and is expected to grow at a CAGR of 15.0% during the forecast period.

Rising prevalence of lungs and oral cancer in the region is supporting the growth for cancer services market in Asia-Pacific region. Large number of patients diagnosed with lungs and oral cancer are from developing countries such as India and China. Asia-Pacific cancer services market valued USD 15.3 billion in 2016. Rising number specialty centers in Asian countries are likely to propel the demand for cancer services market in the region. For instance, India has over 300 special centers for cancer care and 27 dedicated hospitals for cancer treatment. However, Asian market is growing at a slow pace due to declining rate of GDP spend on healthcare in low income group countries such as Afghanistan, Turkmenistan, Armenia, Bhutan and Uzbekistan.

Latin America (LA) and Middle East & Africa (MEA) region are also witnessing low level growth for cancer services market due to lack of availability of medical facilities. As per WHO, LA and MEA together accounted for 11.2% of total deaths caused by cancer. 

Market Drivers and Challenges

High frequency of death due to cancer is increasing the awareness among people. Huge investment in healthcare and R&D, innovative treatment facilities and government reimbursement policies are bolstering adoption of the cancer services across the globe. Moreover, introduction of cancer preventive programs are also helping in rising demand for cancer services market. As per WHO, 48% of cancer control policy plan has been successfully executed globally.

However, high cost of cancer treatments restricting the growth of cancer services mainly in emerging economies. Lack of awareness among population majorly in developing countries about clinical trials is also a major barrier to slow down the growth rate of cancer services market.

Opportunities

• Use of big data in clinical trials is expected to improve the way of cancer care services. Moreover, innovative treatments and therapies are expected to increase the survival rate
• Initiatives to provide quality care delivery in a cost effective way can increase the adoption rate of cancer services. Local and regional players can have huge opportunities in providing cancer services at reasonable cost.
• Recent advancement in radiation oncology such as IMRT, IGRT and robotic radiotherapy can provide better cancer treatment in the near future.

Risk Factors

• Less effective result of treatment in final stage of cancer is a major threat to the cancer services market.
• Side effects of chemotherapy and radiation therapy are decreasing the market demand.
• Diagnosis of cancers of unknown origin is a major challenge in oncology treatment.

Key Market Players

• GE Healthcare

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

• Philips Healthcare
• Siemens Healthcare
• Novartis
• Abbott Diagnostics
• Roche
• Pfizer Inc.
• Sanofi
• Amgen
• Merck & Co.
• GlaxoSmithKline
• Johnson & Johnson
• Amgen Inc.
• Eli Lilly and Company
• Hoffman La-Roche Ltd.
• Roche Holdings Ltd.

Scope Background

Market Synopsis

Market Segmentation

The Global Cancer Services Market is segmented as follows:

• By Prevent Care Services (Market Size, Demand Analysis and Growth Analysis)

• By Diagnostic Care Services (Market Size, Demand Analysis and Growth Analysis)
• By Application (Market Size, Demand Analysis and Growth Analysis)
• By End-User (Market Size, Demand Analysis and Growth Analysis)

By Regions

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}

• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors

• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks