Europe Cancer Therapeutics Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00031444 | Category: Life Sciences
No. of Pages: 150 | Report Code: BMIRE00031444 | Category: Life Sciences
The cancer therapeutics market size is expected to reach US$ 1,45,602.49 billion by 2031 from US$ 67,944.35 million in 2024. The market is estimated to record a CAGR of 11.6 % from 2025 to 2031.
The cancer therapeutics market in Europe is experiencing significant growth driven by several key factors, including growing burden of breast and lung cancer and surging investments in oncology research. For instance, according to cancer statistics data published by Macmillan Cancer Support, ~3 million people had cancer in the UK in 2020, and the number is expected to rise to 3.5 million by 2025 and 5.3 million by 2040. The introduction of immune checkpoint inhibitors has revolutionized the treatment of cancers, offering new hope for patients. The UK is home to the world's largest independent charity organization—Cancer Research UK. The organization spends approximately US$ 488.76 million (i.e., £385 million) yearly to support researchers across various institutions in the UK. Cancer Research UK plays a crucial role in making a meaningful difference for cancer patients and their families, fostering advancements in the understanding, prevention, diagnosis, and treatment of the disease through its exceptional research portfolio. In recent years, Akeega for prostate and breast cancer and Truqap for HR-positive breast cancer—two new medications supported by Cancer Research UK—received regulatory approval and were made available for use across the country.
Key segments that contributed to the derivation of the cancer therapeutics market analysis are therapy type, indication, and distribution channel.
The cancer therapeutics market in Europe is experiencing significant growth driven by growing burden of breast and lung cancer and surging investments in oncology research contributes significantly to overall market growth. Europe is at the forefront of cancer research, with numerous clinical trials and the development of innovative therapies, including immunotherapy and targeted therapies. These therapies offer more personalized and effective treatment options compared to traditional approaches, driving the uptake of new treatments and accelerating market expansion. Companies invest in research and development to stay competitive and provide customers with cutting-edge and innovative products. In November 2021, Sanofi invested US$ 180 million and entered into a new strategic collaboration with Owkin, a French–American AI start-up engaged in the discovery and development programs of four exclusive types of cancer, with a total payment of US$ 90 million. The collaboration supported Sanofi's developing oncology portfolio in core areas such as breast cancer, lung cancer, and multiple myeloma to enhance clinical trial design and detect predictive biomarkers for disease diagnoses and treatments.
Based on region, the Europe cancer therapeutics market is further segmented into Germany, the UK, France, Spain, Italy, Poland, Ukraine, Romania, Greece, Switzerland, Austria, Portugal, Denmark, Sweden, Norway, Finland, Iceland, Belgium, Netherlands, Luxembourg, and Rest of Europe. The Germany held the largest share in 2024.
Cancer is one of the leading causes of morbidity and mortality in Germany; the country reports a vast number of cases of lung cancer, prostate cancer, bladder cancer, colorectum cancer, and skin cancer. According to the World Health Organization (WHO), Germany recorded ~0.63 million new cancer cases and ~0.25 million deaths in 2022. The rising number of cancer cases in Germany propels the demand for better treatment options. Moreover, Germany is a hub for cancer research, with institutions such as the German Cancer Research Center, and partnerships between such research organizations and pharmaceutical companies fostering innovation in treatment options. For instance, Germany is home to clinical trials for cutting-edge therapies such as CAR-T cell treatments and immune checkpoint inhibitors, which have revolutionized cancer care. Additionally, the Federal Ministry of Education and Research (BMBF) launched the National Decade against Cancer in 2019, which brings together medicine and research, society, politics, and business.
The country's strong biotechnology sector, bolstered by government funding and collaboration with major pharmaceutical companies, accelerates the development and commercialization of new therapeutics. In February 2024, Boehringer Ingelheim and CBmed GmbH, the Center for Biomarker Research in Medicine, unveiled a long-term strategic partnership aimed at accelerating the development of novel cancer therapies into first-in-class medicines. The collaboration seeks to transform the lives of cancer patients and supports Boehringer Ingelheim's ultimate goal of curing various types of cancer.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 67,944.35 Million |
| Market Size by 2031 | US$ 1,45,602.49 Billion |
| Global CAGR (2025 - 2031) | 11.6 % |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Therapy Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
Astellas Pharma Inc; Eli Lilly and Co; Novartis AG; Merck KGaA.; Johnson & Johnson; AstraZeneca; Pfizer Inc; Bristol Myers Squibb; F. Hoffmann-La Roche Ltd; and AbbVie are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note:
All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
The Europe Cancer Therapeutics Market is valued at US$ 67,944.35 Million in 2024, it is projected to reach US$ 1,45,602.49 Billion by 2031.
As per our report Europe Cancer Therapeutics Market, the market size is valued at US$ 67,944.35 Million in 2024, projecting it to reach US$ 1,45,602.49 Billion by 2031. This translates to a CAGR of approximately 11.6 % during the forecast period.
The Europe Cancer Therapeutics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Cancer Therapeutics Market report:
The Europe Cancer Therapeutics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Cancer Therapeutics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Cancer Therapeutics Market value chain can benefit from the information contained in a comprehensive market report.
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