Description

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.
India Oncology Market Dynamics

Drivers: Growing Prevalence of the Cancer

One of the significant growth drivers for oncology treatments in India is the increasing incidence of cases related to this particular disease. The rising trend in cancer incidence can be associated with a combination of factors comprising demographics, lifestyle alterations, advanced diagnosis capabilities, an increase in aged populations, comparative increases in the sedentary lifestyle with changed eating habits, and associated rises in the related cancer cases, such as lung, breast, and colorectal cancers. Besides, technological and infrastructural advancement within medical facilities allows better results of cancer detection and diagnosis, further pushing up the reported cases at early stages. If cases are detected in time, the survival rate increases, and so does the demand for treatment that ranges from surgery and chemotherapy to radiation and targeted therapies. It, therefore, involves the expansion of oncology portfolios by healthcare providers and pharmaceutical companies because of increasing demand, while public health-initiated preventive measures and awareness take precedence to decrease the burden brought about by the rising cancer cases in India.

Challenges: High Cost of Treatment

Cost and affordability therefore continue to be key issues that affect the ability of the populace to access appropriate cancer care in India. Chemotherapy, radiotherapy, surgery, and supportive care all come at a high cost, which puts a lot of pressure on the patient’s pocket and or their family. These are rather expensive due to the costs of acquiring treatment that are often higher if it is administered for advanced stages of cancer and long-term treatment procedures. 
This aspect specifically may dissuade many patients from receiving early and adequate care which in turn implies that they would be diagnosed late or they will not strictly stick to the recommended treatment regimens. These challenges are worsened by the difference in the healthcare status of urban and rural clients as the latter group barely affords expensive healthcare services. Measures concerning these problems include such things as governmental programs to provide grants for treatment, cooperation with pharmaceutical companies that provide their medications at a reduced price, and the introduction of health insurance programs, including oncology treatment. However, achieving universal health care for cancer treatment is still a challenge in India’s health care system. 

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.

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

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.