The U.S. oncology market is expanding rapidly as cancer cases increase and healthcare providers adopt more advanced treatment approaches. The market size reached $72.79 billion in 2024 and is projected to reach $81.34 billion in 2025. Current projections indicate that the market will grow to approximately $211.78 billion by 2034, reflecting a compound annual growth rate of 11.75% from 2025 to 2034. This growth aligns with the increasing number of cancer diagnoses and the accelerating demand for personalized, effective therapies.
Multiple factors support this expansion. First, the incidence of cancer continues to increase, particularly among older adults. As a result, demand remains strong for oncology-related drugs, therapies, and long-term treatment solutions. At the same time, hospitals, clinics, and other oncology facilities are developing and adopting new technologies through an active research and development environment. Investment in precision medicine is also growing, which supports wider use of therapies tailored to genetic mutations or molecular markers. In addition, new targeted drug classes are entering the market, and a favorable regulatory environment helps accelerate commercialization through FDA-approved pathways and oncology programs. Moreover, expanded access to screening, improved diagnostic tools, and greater awareness of early detection continue to drive market momentum.
Treatment approaches are also shifting. Many organizations are moving away from standard drug therapies and toward innovative options that aim for greater accuracy and lower toxicity. For example, biologic drugs, such as monoclonal antibodies and monoclonal antibody conjugates, are experiencing broader adoption. Similarly, cellular and gene therapies, including CAR-T therapies, are gaining prominence in oncology care. Technology reinforces these shifts. Digital diagnostics, artificial intelligence tools for cancer screening, remote patient monitoring, and tech-supported evaluation of treatment outcomes are improving precision. Additionally, pharmaceutical companies and academic research organizations are working together more closely, which reduces the time required to move new cancer drugs through clinical trials and into clinical use.
However, the market faces a significant challenge. Novel personalized medicine therapies, including CAR-T treatments and long-course care, involve very high costs. Patients often carry substantial financial burdens even when third-party payers provide insurance coverage. Limited access to specialized treatment centers in rural or underserved regions also affects affordability and availability, creating obstacles to the broader use of next-generation solutions.
Regional performance shows apparent differences. The West led the U.S. oncology market in 2024, with a nearly 34% revenue share. Substantial biotechnology investment, supporting infrastructure, and dense pharmaceutical and research activity contribute to this leadership, with California and Washington recognized for clinical trials and collaboration in cancer innovation. Meanwhile, the South is expected to experience rapid growth during the forecast period. Expanding cancer care networks, population growth, improved healthcare facilities, stronger demand for early diagnosis, and rising demand for advanced treatment all support this trend. Efforts to build oncology capacity in Texas, Florida, and Georgia also reinforce growth in the region.
Several segments stand out. Breast cancer accounted for approximately 22% of the market in 2024. Targeted therapy accounted for nearly 28% of the revenue share, while monoclonal antibodies represented almost 30% of the market. Hospitals and cancer specialty centers dominated the end-user market with a share of around 48%, while hospital pharmacies led the distribution with about 41%. Looking ahead within the forecast period, leukemia is projected to be the fastest-growing cancer type, and immunotherapy, CAR-T cell therapies, gene therapies, academic and research institutions, and specialty pharmacies are expected to expand rapidly from 2025 to 2034.
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