Oncology Innovation Leads Global Biopharma Growth as Other Therapy Areas Plateau and Complex Modalities such as ADCs, Radioligands, and Cell and Gene Therapies Gain Momentum

Overview

Over the past decade, oncology has evolved from one of many key areas in drug development to the undisputed growth engine of the global biopharmaceutical industry. In 2023, oncology alone accounted for USD 223 billion in global sales at ex-manufacturer prices, far outpacing other therapeutic areas which are beginning to plateau in growth. A confluence of factors including deepening biological insight, evolving regulatory flexibility, and an explosion of novel therapeutic modalities has placed oncology at the epicenter of innovation.

Over the next five years, more than 100 new cancer treatments are expected to launch, reflecting both the rich pipeline and the sector’s urgency in addressing high unmet needs.

• Emerging Biopharma Companies (EBPs): This surge in innovation is driven by a diverse and evolving ecosystem. Emerging biopharma companies (EBPs) are now dominant players in early-stage oncology R&D, originating 63% of new oncology drugs launched in the U.S. over the past five years. Their lean operational models, scientific agility, and increased access to capital have made them formidable innovators, often opting to self-commercialize rather than license or sell assets to larger companies. Notably, EBPs launched 57% of their own oncology products during this period, reflecting a significant shift in the commercial dynamics of drug development.