China Oncology Drugs Market Overview
The oncology drugs market in China is expected to reach a value of USD 42.19 billion by 2028, according to Renub Research. Over the past 30 years, China has witnessed a significant increase in oncology drug costs, driven by the country’s status as the second-largest pharmaceutical market in the world. China’s biopharmaceutical industry is undergoing a transformation as the government aims to transition to an innovation-driven economy by 2020. Healthcare is a key focus, with the government addressing the dual challenges of supporting biopharmaceutical industry growth while improving public health.
Despite high treatment costs, inadequate insurance coverage, and a lack of awareness, China remains a prime location for pharmaceutical companies due to its large population, rapid economic growth, and evolving healthcare system. The Chinese pharmaceutical industry has experienced an annual growth rate of over 20% in the past five years, with this trend expected to continue.
Growth Trends in the China Oncology Drugs Market
The China oncology drugs market is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.75% from 2023 to 2028. Colorectal, prostate, and breast cancers are on the rise, with lung cancer leading as the most common cause of cancer-related deaths, largely due to smoking. The Chinese government has implemented various initiatives to address cancer and its risk factors, achieving significant milestones. The ambitious Health China 2030 initiative aims to reduce the cancer burden through primary and secondary prevention measures, requiring cross-sector collaboration to succeed.
Request for free Sample Report: https://www.renub.com/request-sample-page.php?gturl=china-cancer-drugs-market-p.php
In 2022, China recorded approximately 4,820,000 new oncology cases and 3,210,000 oncology-related deaths. Oncology remains the second leading cause of death globally, with 9.6 million lives lost annually. In China, oncology accounts for about one-fifth of all deaths. The rising incidence of cancers, especially lung cancer due to smoking, has prompted the Chinese government to take comprehensive measures to combat cancer and related risk factors.
Key Drivers of the China Oncology Drugs Market
Several national policies, including “Healthy China 2030,” “China Medium-and-Long Term Plan for Prevention and Control of Chronic Diseases (2017–2025),” and “Healthy China Act (2019–2030),” have promoted oncology prevention and control, with the aim of reducing oncology mortality rates and improving five-year oncology survival rates. China has a significant oncology burden, and reducing it will require coordinated efforts among governments, public health industries, and individuals.
Therapy Types and Market Segmentation
By therapy type, the China oncology drugs market is segmented into Chemotherapy, Targeted Therapy, Immunotherapy (Biologic Therapy), and Hormonal Therapy. Targeted therapy has risen to prominence due to its precision in targeting specific molecular or genetic abnormalities, resulting in less harm to healthy cells and reduced side effects. China’s large population and increasing oncology cases drive the demand for effective treatments, with precision medicine being a preferred choice.
By indication, the market is divided into Blood Oncology, Breast Oncology, Gastrointestinal Oncology, Prostate Oncology, Lung Oncology, Skin Oncology, Ovarian Oncology, Cervical Oncology, Kidney Oncology, and Others. Breast oncology leads the market, driven by changing lifestyles, environmental factors, and advancements in research and diagnostics. The improved healthcare infrastructure in China has contributed to the widespread availability of breast oncology treatments.
Drug Classes and Market Outlook
By drug class, the market includes ESAs (Erythropoiesis Stimulating Agents), G-CSFs (Granulocyte-colony Stimulating Factors), Anti-emetics, Bisphosphonates, Opioids, and NSAIDs & Others. NSAIDs (Nonsteroidal Anti-Inflammatory Drugs) and other emerging therapies are gaining prominence due to their potential for both cancer prevention and symptom management. These innovative treatments reflect a shift toward more personalized and effective oncology treatment options in China.
Key Players in the China Oncology Drugs Market
Leading companies in the China oncology drugs market include Bristol Myers Squibb, Merck, Eli Lilly, Sino BioPharma, F. Hoffmann-La Roche AG, Johnson & Johnson, AbbVie Inc., and AstraZeneca plc. These companies play a crucial role in driving innovation and providing effective oncology treatments in China.
Recent developments in the industry include AstraZeneca’s Calquence, a blood oncology drug, securing provisional clearance in China for treating mantle cell lymphoma (MCL) in adults. Additionally, the National Medical Products Administration (NMPA) approved Nubeqa (darolutamide), an oral androgen receptor inhibitor (ARi), for use in combination with docetaxel to treat patients with metastatic hormone-sensitive prostate oncology.
Overall, the China oncology drugs market is poised for significant growth, driven by government initiatives, changing demographics, and the rising incidence of cancer. With ongoing innovation and improved healthcare infrastructure, the market is expected to continue its upward trajectory in the coming years.
Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.
Company Name: Renub Research
Contact Person: Rajat Gupta, Marketing Manager
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Address: 225 Kristie Ln, Roswell, GA 30076
Email: info@renub.com
LinkedIn: https://linkedin.com/company/renub-research
Website: www.renub.com
