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Community Oncology Services, Market Opportunities, Global Insights, Trends 2024
Global Community Oncology Services, Industry Report, Market Dynamics
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According to The Business Research Company's, The community oncology services market size has grown rapidly in recent years. It will grow from $53.79 billion in 2023 to $60.31 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increased healthcare expenditure, rapid growth in elderly population, and health insurance reforms.
The community oncology services market size is expected to see rapid growth in the next few years. It will grow to $89.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increased healthcare expenditure, rapid growth in elderly population, and health insurance reforms. Major trends in the forecast period include focus on focus on providing telehealth services, increasing investments, partnerships and collaborations, developing individualized service plans, technological advancements, mergers and acquisitions.
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Market Drivers and Trends:
The lower-cost care in community oncology centers is anticipated to boost the demand for the community oncology service market. The cancer care services are considered to be cost-effective in community oncology centers as compared to hospitals. According to the Community Oncology Alliance's report published, the cost of cancer care per patient per month for various tumors in community-based clinics (CCs) was approximately $12,000 whereas the cost of cancer care in hospital-based oncology clinics (HCs) was about $20,000. Furthermore, the cost per patient per month for treatment of chemotherapy in a community setting was nearly $5,000 compared to around $8,500 in hospital-based clinics. Hence, the low cost of community oncology settings or community oncology centers are expected to drive the demand for the growth of the community oncology services market over the forecast years.
Major companies are undergoing various acquisitions and research collaborations in the community oncology services market to expand their services and offerings, which is gaining significant popularity over recent years. For instance, in April 2023, TPG, a US-based private equity company, and AmerisourceBergen Corporation, a US-based wholesale company acquired OneOncology for 2.1 billion. With this acquisition, TPG and AmerisourceBergen strengthen their presence in the specialty practice network and expand their solutions in the oncology space. OneOncology is a US-based company that focuses on transforming the patient experience and solving the pressures facing community oncology while remaining at the forefront of cancer care.
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Major Key Players of the Market:
The US Oncology Network, OneOncology, Florida Cancer Specialists & Research Institute (FCS), The Oncology Institute, Community Care Physicians, P.C. (CCP), GenesisCare, CStone Pharma, CARsgen Therapeutics, JW Therapeutics, BeiGene, Nanjing Legend Pharmaceutical & Chemical Co., Ltd, Zai Labare, Taxane HealthCare Pvt Ltd, Getwell Oncology, Novartis Oncology, Celgene, Johnson & Johnson, Janssen Pharma, Pharmacyclics, Healthkind Labs Pvt Ltd, Arlak Biotech, SwisscheM Healthcare Pvt Ltd, Apikos Pharma, Kolaz Biotech, Quironsalud Proton Therapy Centre, The London Clinic England, Institut Gustave Roussy, Netherlands Cancer Institute, European Medical Center, Yauza Medical Center, Celon Pharma, Nebraska Cancer Specialists, Tufts Medical Center, Doctors Medical Center, Oncology Specialists SC, Baptist Cancer Center, Mayo Clinic, Cleveland Clinic, Fred Hutchinson Cancer Research Center, The University of Texas Southwestern Medical Center, Abramson Cancer Center, McKesson Corporation , TUTEUR Argentina, Takeda Pharmaceutical Company Limited, Pierre Fabre Group, Celnova Pharma , King Hussein Cancer Center (KHCC), Princess Noorah Oncology Center (PNOC), King Abdulaziz Medical City, King Faisal Specialist Hospital and Research Centre, King Fahd Specialist Hospital, Prince Sultan Medical Military City, King Saud Medical City, King Abdullah Medical City, Tawam Hospital , Icon Oncology, Eurolab Science Laboratuvar, Yemaachi Biotechnology, Regal Pharmaceuticals Limited, Ocean Road Cancer Institute
Community Oncology Services Market 2024 Key Insights:
• The community oncology services market size is expected to see rapid growth in the next few years. It will grow to $89.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Affordable Cancer Care In Community Oncology Centers A Driving Force For Market Growth
• Strategic Alliances And Acquisitions Shaping The Community Oncology Landscape
• North America was the largest region in the oncology services market in 2023
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The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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