Neoplasm Treatment Market size was valued at USD 187.51 Billion in 2023 and is likely to exceed USD 670.67 Billion by the end of 2036, expanding at over 10.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of neoplasm treatment is evaluated at USD 204.89 Billion. The growth of the market can be attributed to the increasing number of peoples suffering from malignant tumors, followed by the rising number of cases across the globe. According to the data by the World Health Organization (WHO), over 10 million people died due to cancer in 2020, up from 9.6 million in 2018. Moreover, there were 2.26 million new cases of breast cancer, 2.21 million cases of lung cancer, and 1.41 million cases of prostate cancer in 2020 itself.
Neoplasms can be cancerous or non-cancerous growths in different organs of the body. Neoplasm is not swelling as in case of tumors, and a new unwanted growth. The factors causing the non-cancerous neoplasm are often unknown, as it doesn’t spread to other parts of the body. On the other hand, there are few factors that are linked to the growth of the cancerous neoplasm such as rise in the exposure to skin or toxin chemical. For instance, as per the American Academy of Dermatology Association estimated, nearly one in five Americans develops skin cancer in their lifetime.
Growth Drivers
Increasing Exposure to Smoke - Any area of the body can be affected as a result of cigarette smoking. Excessive smoking is injurious to health, and can make the condition worsen with time. Therefore, it is projected to surge the growth of the global neoplasm treatment market. According to the American Cancer Society, nearly 20 percent of cancers, and 30 percent of all cancer deaths are owing to the smoking in the United States.
Increasing Geriatric Population - The incidence rates of neoplasms increase with the rise in the elderly population’s percentage. With the increasing age, the cells in the body get damaged, and are expected to drive the market’s growth. As per the reported data, in the year 2050, more than 70 percent 80% of the world's old people is anticipated to live in low- and middle-income countries.
Increasing Exposure to Smoke - Any area of the body can be affected as a result of cigarette smoking. Excessive smoking is injurious to health, and can make the condition worsen with time. Therefore, it is projected to surge the growth of the global neoplasm treatment market. According to the American Cancer Society, nearly 20 percent of cancers, and 30 percent of all cancer deaths are owing to the smoking in the United States.
Increasing Geriatric Population - The incidences rates of neoplasm increase as the rise in the elderly population percentage. With the increasing age, the cells in the body gets damaged, and are expected to drive the market’s growth. As per the reported data, in the year 2050, more than 70 percent of the world's old people is anticipated to live in low- and middle-income countries.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
10.3% |
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Base Year Market Size (2023) |
USD 187.51 Billion |
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Forecast Year Market Size (2036) |
USD 670.67 Billion |
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Regional Scope |
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Type (Malignant, Benign)
The global neoplasm treatment market is segmented and analyzed for demand and supply by type into benign, and malignant, out of which, the malignant segment is anticipated to hold the notable share in the global neoplasm treatment market over the forecast period on account of the growing prevalence of malignant, i.e., cancerous neoplasm across the globe. In addition, malignant is a severe kind of neoplasm that usually grow faster than benign and can spread to the whole body of the patient, they are not controlled at the right time, and can invade the nearby tissues. Moreover, the higher exposure to carcinogens, backed by poor lifestyle habits in present times, is estimated to fuel the segment. According to the World Health Organization, cancer accounted for nearly one in six deaths across the globe in the year 2020.
End-user (Specialty Clinics, Hospital, Cancer Research Center)
The global neoplasm treatment market is also segmented and analyzed for demand and supply by end-user into specialty clinics, hospital, cancer research center, and others. Out of these, the hospitals segment is projected to hold the largest share over the forecast period in the global neoplasm treatment market. The growth of the segment can be owing to the increasing number of hospitals around the world for the treatment of diseases. Furthermore, the government invests in hospitals for providing treatment facilities to patients belonging to the lower income category. In addition, they are able to deal with the emergency cases with the advanced technologies, and it is expected to increase the segment’s growth in the market. As per the data reported in 2020, the total number of hospitals in Japan accounted to more than 8,000. In addition, the number of hospitals in Korea has increased to more than 4,000 in the year 2020.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By End-User |
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North American Market Forecast
The North American neoplasm treatment market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the rising cases of cancer in the region. According to the US National Cancer Institute, an estimated of 1,806,590 new cases of cancer were diagnosed in the United States in 2020. Moreover, the presence of major research institutes in the region, combined with high healthcare expenditure, is estimated to boost the market growth. In addition, there has been a higher awareness related to the advanced technologies for cancer diagnostics and treatment in terms of chemotherapy, radiation, and others that is further anticipated to boost the market’s growth in the region.
Europe Market Forecast
The European neoplasm treatment market, amongst the market in all the other regions, is also projected to have significant growth during the forecast period. The growth of the market can be attributed majorly to the surging emphasis on neoplasm treatment, followed by rising prevalence of malignant cancers in the countries such as the United Kingdom. Furthermore, the rising clinical trials, and development of drugs for the treatment is further predicted to boost the growth of the market in the region. In addition, the increasing approval of the drug and its treatment by the FDA is expected to contribute to the factors that are supporting the market’s growth in the region.
APAC Market Statistics
The Asia Pacific neoplasm treatment market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growing geriatric population, and increasing population percentage are the major factors that are anticipated to boost the growth of the neoplasm treatment market in the region over the forecast period. Furthermore, improving healthcare facilities and policies are further predicted to increase the market’s growth in the Asia Pacific region.
Exelixis Inc. announced the successful results for Cabozantinib in combination with immunotherapies in patients with advanced colorectal cancer.
Merck & Co announced the complete acquisition of Acceleron Pharma Inc., to explore the opportunities in medical research.
Author Credits: Radhika Pawar
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