China's oncology drugs market forecast to expand at 13.5% CAGR

China's oncology drug market has grown rapidly in recent years. Revenue of the oncology drugs in China grew from 83.4 billion renminbi in 2013 to 139.4 billion renminbi ($20.65 billion) in 2017, representing a compound annual growth rate (CAGR) of 13.7%.

It is expected to further grow to 262.1 billion renminbi in 2022 at a CAGR of 13.5% from 2017, and to 654.1 billion renminbi in 2030 at a CAGR of 12.1% from 2022, according to the "China Monoclonal Antibody Market by Targets (PD-1,CD20,HER2,VEGF,EGFR,TNF-a) Research Report, 2018-2025" report which has been added to ResearchAndMarkets.com latest offering.

While the majority of the top ten oncology drugs globally in 2017 are either molecularly targeted drugs or immuno-oncology drugs, seven out of the top ten oncology drugs in China are chemotherapy drugs and only three are molecularly targeted drugs. This difference between the global market and the China market suggests significant potential for molecularly targeted drug and immuno-oncology drug market growth in China. Three drugs among the top10 oncology drugs globally were approved in China in 2018, indicating China is at its early stage of its paradigm shift to molecularly targeted drugs and immuno-oncology drugs.