Global Oncology Market Projected to Reach $748 Billion by 2035 Amid Immunotherapy Growth

The global oncology market is valued at $279.98 billion in 2026, increasing from $251.01 billion in 2025, and is projected to reach $748.17 billion by 2035, growing at a CAGR of 11.54% between 2026 and 2035. The expansion reflects long-term demand, expanding treatment options, and sustained research investments driven by cancer remaining one of the most pressing global health challenges.

The oncology market includes cancer diagnostics, treatment therapies, and supportive care solutions. It covers pharmaceuticals such as chemotherapy, targeted therapy, immunotherapy, and hormonal therapy, as well as radiation therapy, surgical oncology, imaging technologies, molecular diagnostics, and liquid biopsy solutions.

One of the primary growth drivers is the increasing global burden of cancer. Aging populations, urban lifestyles, dietary changes, and environmental factors contribute to higher incidence rates. At the same time, improved screening programs are identifying more cases at earlier stages, naturally increasing demand for diagnostics, therapies, and long-term management solutions.

Precision oncology has moved from concept to clinical reality. Genomic testing, biomarker identification, and targeted biologics allow physicians to tailor treatment strategies based on tumor characteristics. As diagnostic tools improve, the use of targeted therapies continues to expand across tumor types. Oncology remains the largest therapeutic area in global drug development, with immune checkpoint inhibitors, CAR-T therapies, bispecific antibodies, and antibody-drug conjugates advancing rapidly.

The global solid tumor therapeutics market is expected to be worth around $497.2 billion by 2033, from $195.2 billion in 2023, growing at a CAGR of 9.8% during the forecast period from 2024 to 2033. Solid tumors account for nearly 90% of adult cancer diagnoses globally and remain a major area of unmet clinical need due to tumor heterogeneity, resistance mechanisms, and limited response rates to conventional therapies.

In 2023, chemotherapy represented the leading therapy segment, accounting for more than 28% of the overall market share. The oral route of administration emerged as the dominant segment in 2023, capturing over 38% of total market revenue, supported by improved patient adherence and enhanced convenience. Hospitals constituted the largest end-user segment in 2023, contributing more than 48% of the total market share, attributed to the availability of specialized oncology infrastructure and comprehensive treatment facilities.

Regulatory approvals are increasingly based on genetic mutations rather than tumor origin. In July 2022, the FDA approved dabrafenib plus trametinib for advanced solid tumors harboring BRAF V600 mutations, marking a milestone in precision oncology.

The T-cell lymphoma therapeutics market was valued at $2.3 billion in 2024 and is set to reach $5.7 billion by 2035, driven by rising immunotherapy adoption. T-cell lymphomas are a rare and heterogeneous group of non-Hodgkin lymphomas that originate from mature T-lymphocytes. These malignancies can affect lymph nodes, skin, gastrointestinal tract, liver, and other extranodal tissues. Peripheral T-cell lymphoma (PTCL) and cutaneous T-cell lymphoma (CTCL) represent the most commonly diagnosed subtypes.

Treatment approaches include chemotherapy, targeted therapy, immunotherapy, stem cell transplantation, and emerging CAR-T cell therapies. Traditional chemotherapy regimens often demonstrate limited long-term efficacy in aggressive cases, creating substantial unmet clinical needs. Advances in biomarker identification, genomic profiling, and precision medicine are expanding treatment options and improving patient outcomes.

Demand for CAR-T therapies, monoclonal antibodies, and HDAC inhibitors is rising as clinicians seek improved survival rates and reduced toxicity profiles. Pharmaceutical companies are prioritizing combination therapy approaches to enhance treatment response. In 2025, Citius Oncology expanded global access to LYMPHIR (denileukin diftitox-cxdl) through new distribution partnerships across Europe, South America, and the Middle East. Also in 2025, Soligenix advanced Phase 3 development of HyBryte for cutaneous T-cell lymphoma in Europe. During 2024-2025, multiple companies accelerated CAR-T cell therapy trials targeting relapsed or refractory PTCL and CTCL, strengthening late-stage oncology pipelines.

Pharmacological or drug-based therapy accounted for approximately 68% of the market share in 2024. Within this category, immunotherapy—including immune checkpoint inhibitors and CAR-T—is expected to record the fastest growth during the forecast period. These therapies offer more targeted immune activation and have demonstrated durable responses in certain cancers.

Breast cancer held approximately 15% market share in 2024, making it the largest segment by cancer type. Increased screening programs and awareness initiatives have contributed to earlier diagnosis and higher treatment uptake. Liver cancer is expected to grow at a faster rate in the coming years due to increasing incidence and growing investment in treatment innovation.

Therapeutic oncology accounted for around 72% share in 2024. Treatment-focused services and drug-based approaches continue to dominate expenditure. However, diagnostic oncology is growing quickly. Liquid biopsy technologies, molecular diagnostics, and advanced imaging tools are gaining wider clinical acceptance, particularly for early-stage detection.

Hospitals and cancer institutes held roughly 60% share of the global market in 2024. These institutions provide comprehensive care, including diagnostics, surgery, radiation, and systemic therapies. Specialty oncology clinics are expanding rapidly, particularly in urban areas.

North America leads the global oncology market, accounting for 43% share in the broader oncology market and maintaining a dominant position in solid tumor therapeutics with over 36% of global revenue, reaching a valuation of $70.2 billion in 2023. This leadership has been supported by a highly advanced healthcare infrastructure and sustained investment in oncology research and development. Early access to innovative cancer therapies has strengthened treatment adoption rates and reinforced regional market growth.

North America also leads the T-cell lymphoma therapeutics market due to advanced oncology infrastructure and active clinical trial networks, while Asia Pacific is emerging as a high-growth region supported by improving cancer diagnostics and expanding healthcare investments.

Significant public and private funding, combined with strong patient awareness regarding available cancer treatments, has contributed to a favorable market environment. The presence of globally recognized cancer research institutions has accelerated the development and clinical integration of novel therapeutic solutions. A well-defined regulatory framework, particularly through the U.S. Food and Drug Administration, has enabled efficient drug approvals and timely commercialization.

Increasing healthcare access in emerging economies and favorable orphan drug incentives are further accelerating market expansion across multiple oncology segments.