Medical Oncology Market Size, Industry Report 2022

According to Precision Business Insights (PBI), the global medical oncology market size was valued at USD 356.2 billion in 2021 and is poised to grow at a significant CAGR of 8.6% during the forecast period 2022 to 2028. Medical Oncology Market By Cancer Diagnostics & Treatment (Cancer diagnostics, Cancer treatment) By Cancer Type (Lung cancer, Prostate cancer, Colon & rectal cancer, Gastric cancer, Esophageal cancer, Liver cancer, Breast cancer, Others), By End-use (Hospitals, Diagnostic laboratories, Diagnostic imaging centers, Academia, Specialty clinics, Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Forecast to 2028. Cancer cases are on the rise all over the world. According to surveys, the incidence of cancer cases has increased significantly per year since 2000. According to the WHO, approximately 400,000 children are diagnosed with cancer each year. According to the American Cancer Society, roughly 89,000 teenagers and young adults died from cancer. As per the studies by the American Cancer Society, the mortality rate has dropped between 1991 and 2019. Thus, it is an extremely beneficial and profitable field to invest in.

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Hospital Segment Dominate the Medical Oncology Market
Hospital segments accounts significant amount of market share and it is expected to grow with a significant CAGR from 2022-2028. Due to high acceptance rates for technologically advanced biopsy and other instruments used in cancer diagnosis would increase the number of diagnoses performed in hospitals. Furthermore, the increasing prevalence of electrosurgical treatments and related minimally invasive surgeries has increased hospital admissions and adoption of oncology therapy, consequently promoting segment advancement.

North America leads Medical Oncology Market
In the North America, the Medical Oncology market holds the considerable market share in 2022 and the market expected to grow at significant CAGR during the forecast period. The textile and fabric industry in the United States is one of the most important industries in the country, according to the International Trade Administration (ITA) and the United States Department of Commerce. Yarns, nonwovens, speciality textiles, protective garments, and fashion clothes are all contributing to the industry's growth. This is likely to fuel demand for Medical Oncology in the textile industry and, as a result, revenue growth in the North America market.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

Aluminum Market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. In April 2020, F.Hoffmann-La Roche launched Atezolizumab, an immunotherapy medicine in India, for the treatment of breast cancer..

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Key players' profiles in the Medical Oncology Market report are Aegerion Pharmaceuticals Inc., Abbvie Inc., Ability Pharma, Acadia Pharmaceuticals Inc., Amgen Inc.

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