According to the Market Statsville Group (MSG), the India Oncology Market size is expected to project a considerable CAGR of 11.3% from 2024 to 2033.
The oncology market in India is upbeat and expanding sensitively fast. The escalation uncovers the events of growing cases of cancer incidence, accessories of transformation and development in the healthcare infrastructure, and society's increasing understanding. It provides a network of therapeutic entities and diagnostic devices targeting strategies for the prevention, diagnosis, and treatment procedures of types of cancers prevalent in the region. The main segments are represented according to various therapies: chemotherapy, radiation therapy, immunotherapy, and targeted therapies, underpinned by the gains made in precision medicine and genetic testing. Backed by government initiatives and increasing expenditure on healthcare, together with investments by pharmaceutical companies, the market gets further impetus. Among some of the major challenges are disparities in access between urban and rural regions, regulatory complexities, and a need for affordable treatment options that result in economic, social, and environmental barriers. Notwithstanding these issues, the oncology India market remains dynamic, representing a large potential for stakeholders looking to make inroads into this rapidly escalating burden of cancer and improving patient outcomes in the country.
Definition of the Oncology
The Indian oncology market can be described as those sectors that help prevent disease, diagnosis, and treatment within the country. It manufactures a wide range of pharmaceuticals, medical devices, diagnostic tools, and therapeutic approaches against various cancers afflicting Indian citizens. This market comprises huge investments in R&D, healthcare infrastructure, and access to the latest technology and cancer care treatment.
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Scope of the India Oncology Market
The study categorizes the Oncology market based on cancer type, drug type, and end-users at the regional and Indian levels.
By Cancer Type Outlook (Sales, USD Million, 2019-2033)
- Lung Cancer
- Breast Cancer
- Oral Cancer
- Cervical Cancer
- Colorectal Cancer
By Product Type Outlook (Sales, USD Million, 2019-2033)
- Lung Cancer
- Targeted Therapy Drugs
- Chemotherapy Drugs
- Radiation Therapy Equipment
- Immunotherapy Drugs
- Surgical Instruments
- Diagnostics
By End-Users Outlook (Sales, USD Million, 2019-2033)
- Hospitals
- Ambulatory Surgical Centers
- Specialty Cancer Centers
Breast cancer segment accounts for the largest market share by cancer type.
Based on the cancer type, the market is divided into Lung Cancer, Breast Cancer, Oral Cancer, Cervical Cancer, and Colorectal Cancer. The breast cancer segment accounted for the largest market share in the India Oncology market. Breast cancer in India has a very high incidence rate among women and presents a major public health concern. In this regard, it may also be mostly felt that awareness campaigns and screening programs have done pretty well to facilitate early detection once more, improving treatment outcomes and survival rates. There are now greatly improved treatment options for breast cancer, including targeted therapies and other personalized medicine approaches that thus give patients a chance at better care. A focused research mantra and close collaboration between healthcare providers and pharmaceutical giants further enhance this. Thus, breast cancer management occupies a considerable share of the oncology market and has continued to receive investment in innovations geared toward improving treatment outcomes and patient response.
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Competitive Landscape: India Oncology Market
The competitive landscape of India's oncology market includes very different pharmaceutical companies, health providers, and diagnostic firms jostling for market share. Companies take a keen interest in the development of innovative therapies, expanding product portfolios, and extending distribution facilities that would make their products reach out more to the patient pool. Other competitive strategies include collaborations with research institutions, compliance with regulatory norms, and rigorously pursuing affordability and accessibility concerns in this highly dynamic and competitive oncology market.
Major players in the India Oncology market are:
- Abbott Laboratories
- 3M
- Bristol Myers Squibb Co.
- AstraZeneca Plc
- Baxter International Inc.
- F. Hoffmann La Roche Ltd.
- Cipla Ltd.
- Glenmark Pharmaceuticals Ltd.
- GE Healthcare Technologies Inc.
- Medtronic Plc
- Lupin Ltd.
- NATCO Pharma Ltd.
- Novartis AG
- Merck and Co. Inc.
- Poly Medicure Ltd.
- Other Major Players
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Recent Development
- In January 2023, A fully owned subsidiary of Sun Pharmaceutical Industries Ltd. launched the novel anti-cancer medicine Palbociclib in India for patients with advanced breast cancer. The international pharmaceutical company will sell the product Palenotm in either 75 mg, 100 mg, or 125 mg dosage forms. With the launch of Palbociclib by Sun Pharma at a price lower than that which is available, it will make the drug much more accessible to patients. Palenotm will treat scores of Indian advanced breast cancer patients.
- In November 2022, the Acquisition of Viatris by Biocon Biologics, the biosimilar manufacturing unit of Biocon, is completed. The buyout is likely to raise cancer therapy as Biocon gets full ownership of the collaboration assets, including anti-cancer drugs Bevacizumab, Trastuzumab, Pertuzumab, and Pegfilgrastim used for the treatment of low white blood cell counts.
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