The global oncology/cancer drugs market size reached a value of nearly $167.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 9.8% since 2015. The oncology market size 2020 is expected to decline from $167.9 billion in 2019 to $149.9 billion in 2020 at a rate of -11%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow slightly from $201.1 billion in 2021 to $284.5 billion in 2023 at a CAGR of 9.7%. North America has the largest cancer drug market share, accounting for 41.2% of the total market.
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