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How has the oncologists market grown in recent years?

The market size of oncologists has seen a slight increase in the past few years. The growth is projected from $19.93 billion in 2024 to $20.3 billion in 2025, marking a compound annual growth rate (CAGR) of 1.9%. The expansion during the historical period can be ascribed to factors like higher cancer rates, advancements in therapeutics, the maturing population, improvements in healthcare infrastructure, along with programs that enhance awareness and enable early detection.

How is the oncologists market size expected to evolve during the forecast period?

Expectations hint at a consistent rise in the oncologists market size in the approaching years, with projections indicating that it will reach $24.24 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.5%. Factors driving the growth during the forecast period include the advent of precision medicine and customized treatments, new therapeutic modalities, worldwide oncology collaborations, shifts in epidemiology and new challenges, as well as healthcare policy and economic influences. Key trends for the forecast period involve progress in immunotherapy, the incorporation of precision medicine, enlargement of telemedicine, data-informed decision making, shared care frameworks, and care that is focused around the patient.

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Which key drivers are propelling the oncologists market’s growth?

The escalating incidence of cancer is anticipated to drive the growth of the oncology market. Essentially, cancer is a condition characterized by the uncontrolled growth and spread of specific body cells. The incidence of cancer pertains to the emergence of new cases within a certain population over a set period. Oncologists are healthcare professionals specializing in the identification and treatment of cancer, and their responsibilities include patient examination, disease diagnosis, and the formulation of treatment strategies. For example, per the U.S. National Cancer Institute data in May 2024, approximately 18.1 million individuals in the United States survived cancer. This number is forecasted to swell to 22.5 million by 2032 and by 2040, yearly new cancer cases are predicted to hit 29.9 million. Additionally, it’s anticipated that deaths due to cancer would escalate to 15.3 million. Consequently, the escalating incidence of cancer is fueling the oncology market.

What are the market segments in the oncologists industry?

The oncologists market covered in this report is segmented –

1) By Cancer Diagnostics And Treatment: Cancer Diagnostics, Cancer Treatment

2) By Indication: Lungs Cancer, Colorectal Cancer, Breast Cancer, Liver Cancer, Bladder Cancer, Head And Neck Cancer, Prostate Cancer, Other Indications

3) By End Use: Hospitals, Diagnostic Laboratories, Diagnostic Imaging Centers, Specialty Clinics, Academia, Other End Uses

Subsegments:

1) By Cancer Diagnostics: Imaging Tests, Biopsy, Blood Tests, Molecular Diagnostics, Genetic Testing

2) By Cancer Treatment: Chemotherapy, Radiation Therapy, Immunotherapy, Targeted Therapy, Hormone Therapy, Stem Cell Transplant

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Which leading companies are shaping the growth of the oncologists market?

Major companies operating in the oncologists market include Abramson Cancer Center, MD Anderson Cancer Center of the University of Texas, Lilavati Hospital & Research Centre, Mount Elizabeth Hospital, Mount Miriam Cancer Hospital, Charité – Universitätsmedizin Berlin, General Electric Healthcare, F. Hoffmann-La Roche AG, Pfizer Inc., Bayer AG, Merck & Co. Inc., AbbVie Inc., Amgen Inc., Takeda Pharmaceuticals USA Inc., Becton Dickinson and Company, Cook Medical LLC, Terumo Corporation, AngioDynamics Inc., Thermo Fisher Scientific Inc., Illumina Inc., Bristol-Myers Squibb Company, AstraZeneca plc, Novartis AG, Eli Lilly and Company, Gilead Sciences Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals Inc., Alexion Pharmaceuticals Inc., Incyte Corporation, Seattle Genetics Inc.

What key trends are currently impacting the oncologists market’s development?

To improve personalized cancer treatment, enhance diagnostic accuracy and optimize treatment plans based on specific patient data and tumor characteristics, leading firms in the oncology market are pioneering the development of AI-precision oncology centers. These are uniquely tailored healthcare facilities that employ artificial intelligence (AI) and machine learning for bespoke cancer care. An example of this was seen in January 2024, when Apollo Cancer Centre, a hospital from India, inaugurated its own Apollo Cancer Centre. This facility will harness the power of AI technology to guide oncologists, patients, and caregivers towards optimal results within set timelines. The center capitalizes on AI for precise diagnosis and instant updates on patient conditions, enabling expedient interventions and superior management of cancer cases. Additionally, the center carries out extensive cancer risk evaluations to pinpoint patients who might gain from personalized therapies or immunotherapy in their treatment regimens.

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Which geographic areas are influencing the growth of the oncologists market?

North America was the largest region in the oncologists market in 2024. The regions covered in the oncologists market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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