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

The cancer therapeutics market size is expected to reach US$ 152,308.77 million by 2031 from US$ 68,816.51 million in 2024. The market is estimated to record a CAGR of 12.13% from 2025 to 2031.

Executive Summary and Europe Cancer Therapeutics Market Analysis:

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.

Europe 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.

Europe Cancer Therapeutics Market Outlook

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.

Europe Cancer Therapeutics Market Country Insights

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.

Europe 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.

Europe 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:

World Health Organization (WHO) Macmillan Cancer Support Global Cancer Observatory Eurostat Spanish Network of Cancer Registries Danish Cancer Society Finnish Cancer Registry European Cancer Information System (ECIS)