ASEAN Cancer Therapeutics Market Report (2021–2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The cancer therapeutics market size is expected to reach US$ 17,770.66 million by 2031 from US$ 7,261.39 million in 2024. The market is estimated to record a CAGR of 13.73% from 2025 to 2031.

Executive Summary and ASEAN Cancer Therapeutics Market Analysis:

The increasing incidence of cancer—fueled by an aging population; urbanization; and lifestyle changes such as smoking, unhealthy diets, and reduced physical activity—boost the market growth in these countries. Government initiatives and public–private partnerships focused on cancer awareness, prevention, and early detection are further accelerating market growth. In addition, the rise in health insurance coverage, along with an increasing middle-class population in these countries, results in better access to life-saving treatments. Many multinational pharmaceutical companies are investing in the region, which further aids in the rapid expansion of the cancer therapeutics market across ASEAN countries.

ASEAN Cancer Therapeutics Market Segmentation Analysis:

Key segments that contributed to the derivation of the cancer therapeutics market analysis are therapy type, indication, and distribution channel.

By therapy type, the cancer therapeutics market is segmented into chemotherapy, targeted therapy, radiation therapy, hormone therapy, and other therapy types. The chemotherapy segment dominated the market in 2024. In terms of indications, the market is segmented into blood cancer, lung cancer, breast cancer, colorectum cancer, prostate cancer, stomach cancer, cervical cancer, liver and intrahepatic bile duct cancer, thyroid cancer, and other indications. The lung cancer segment held the largest share of the market in 2024. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online stores. The hospital pharmacies segment held the largest share of the market in 2024.

ASEAN Cancer Therapeutics Market Outlook

A number of demographic, socioeconomic, and healthcare-related variables have contributed to the steady rise in the demand for cancer treatments in ASEAN nations. Rising cancer rates, aging populations, changing lifestyles, improvements in medical technology, and unequal access to care are some of these causes.

According to the GLOBOCAN in 2023, Indonesia reported ~ 500,000 new cancer cases and approximately 300,000 cancer-related deaths. The country's large and growing population, coupled with lifestyle factors such as smoking, dietary habits, and pollution, contribute to the rising cancer incidence. In recent years, the Indonesian government has made strides to improve the country's healthcare system, with efforts made to enhance cancer awareness, promote screening and early detection programs, and make affordable treatment more accessible. Initiatives such as the National Cancer Control Program aim to address challenges associated with the growing cancer burden by improving diagnosis and treatment options.

The cancer therapeutics market in the Philippines is characterized by a strong demand for innovative therapies driven by product launches in targeted treatments, immunotherapies, and biologics. Government initiatives—particularly through the National Integrated Cancer Control Act and PhilHealth—have played a pivotal role in improving access to cancer care services and treatments. However, challenges such as the high cost of drugs and limitations associated with the existing healthcare system limit the market growth to a certain extent. As the Philippines continues to develop its healthcare infrastructure and expand access to cancer care, the cancer therapeutics market is likely to grow and evolve in the coming years, offering hope for cancer patients and their families.

ASEAN Cancer Therapeutics Market Country Insights

Based on region, ASEAN cancer therapeutics market is further segmented into Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, Taiwan, Bangladesh, New Zealand, and the Rest of ASEAN. Singapore held the largest share in 2024.

The cancer therapeutics market in Singapore is driven by ongoing research and innovation efforts, and government support. With a population of over 5 million, Singapore faces a rising incidence of cancer, which is one of the leading causes of death in the country. As cancer care continues to evolve globally, Singapore has become a hub for oncology drug development, attracting both international and local pharmaceutical companies to conduct research and introduce new therapies. The cancer therapeutics market in the country is characterized by the burgeoning demand for targeted therapies, immunotherapies, and precision medicine, which have transformed the way the disease is treated, offering more effective and personalized treatment options.

ASEAN Cancer Therapeutics Market 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 companies are engaged in collaborative drug development to bring novel therapeutics for cancer in the market, aiming to stay ahead on competitive edge.

ASEAN Cancer Therapeutics Market Research Methodology:

The following methodology has been followed for the collection and analysis of data presented in this report:

Secondary Research

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:

Company websites, annual reports, financial statements, broker analyses, and investor presentations Industry trade journals and other relevant publications Government documents, statistical databases, and market reports News articles, press releases, and webcasts specific to companies operating in the marketNote: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.

Primary Research

Business Market Insights 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:

Refine findings from secondary research Enhance the expertise and market understanding of the analysis team Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects 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:

Industry stakeholders:

Vice Presidents, business development managers, market intelligence managers, and national sales managers External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise Key Sources Referred:

The World Bank World Development Indicators World Health Organization (WHO) Global Cancer Observatory Medicines and Healthcare Products Regulatory Agency (MHRA)