Oncology Active Pharmaceutical Ingredient Market Share

North American Market Forecast

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 2036. 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.

APAC Market Statistics

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.